Brick Duplex with Two-Car
For Sale
$1,298,000
70-32 65th Street, Glendale, NY 11385
Attached two-family home with spacious interiors, full basement, updated first-floor amenities, and separate heating and water systems.
Property Size2,960 SF
Days on Market52
Property Features for 70-32 65th Street
General Information
Standard status
Active
Size
2,960 SF
Total Parking Spaces
4
Property subtype
Duplex
Units
Unit Mix
2 x 2BR/1BA
Multifamily Units
2
Additional Details
Public Transit
Yes
Taxes and HOA fees
Annual Taxes
$8,792
Amenities
full basement
Building Details
Building Size
2,960 SF
Year Built
1920
Buildings
1
Construction
brick
Listing Agency:
Tscherne Realty Inc
(718) 672-7400
Listed By:
Christopher Tscherne
Source:
Serhant
Added: Jun 23
Changed: Aug 11
Last Checked: Aug 12 at 2:11PM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Tscherne Realty Inc
Investment Insights
Based on property information with market context.
This attached brick duplex, built in 1920, contains two residential units with two bedrooms, a living room, a formal dining room, an eat-in kitchen, and a full bathroom in each unit. The first-floor kitchen and full bathroom have been modernized. Additional interior space includes a second-floor hall room and a full basement with another full bathroom. The property is currently vacant.
A young gas heating system and separate water heater serve the home. The basement provides interior access to a two-car garage with an automatic opener, along with parking for two additional cars. The property is near shops on Fresh Pond Road and Myrtle Avenue, local and express bus service, the M Train, and Mafera Park, which includes a playground, dog run, and athletic fields.
A young gas heating system and separate water heater serve the home. The basement provides interior access to a two-car garage with an automatic opener, along with parking for two additional cars. The property is near shops on Fresh Pond Road and Myrtle Avenue, local and express bus service, the M Train, and Mafera Park, which includes a playground, dog run, and athletic fields.
Key Highlights
- Two residential units with two bedrooms and one full bathroom per unit
- Attached brick construction, built in 1920
- Full basement with an additional full bathroom
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$72,355
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
5.57%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$1,447,100
$1.4M
Cap Rate 7%
$1,033,643
$1.0M
Cap Rate 9%
$803,944
$803.9K
Market Conditions
NOI Build-Up for 2,960 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$136.8K $46.20/SF
− Vacancy
−$5.2K −$1.76/SF
EGI
$131.6K $44.44/SF
− OpEx
−$59.2K −$20.00/SF
NOI
$72.4K $24.44/SF
Area
Queens County, NY
Vacancy
3.80%
Lease Rate
$46.20 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$1,447,100
Cap Rate 7%
$1,033,643
Cap Rate 9%
$803,944
Alternative Uses
Best Use
Apartment 5plus
$1.03M
$904.4K – $1.21M
NOI $72,355 @ 7.0% cap · market cap 5.57%
Second Best
Multifamily LT 5
$699.9K
$612.4K – $816.6K
NOI $48,993 @ 7.0% cap · market cap 3.77%
Theoretical Best
Office A
$2.18M
$1.91M – $2.55M
NOI $152,750 @ 7.0% cap · market cap 11.77%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
2,987
Businesses Nearby
Explore this area
Business Placement
Demographics for 11385, NY
100,883
Population
40,175
Households
2.5
Avg Household Size
36
Median Age
34%
College-Educated
84%
High-School Grad
3.6 sq mi
ZIP Area
28,023
Density / Sq Mi
$87,365
Median Household Income
$47,335
Median Earnings
$1,959
Median Rent
$842,800
Median Home Value
Market
Vacancy Rate% for Multifamily in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Duplex - Attached two-family home with spacious interiors, full basement, updated first-floor amenities, and separate heating and water systems.
Where is this duplex located?
The property is located at 70-32 65th Street Glendale, NY.
What is the asking price?
The asking price for this property is $1,298,000.
What are key features of this property?
This property features: Two residential units with two bedrooms and one full bathroom per unit; Attached brick construction, built in 1920; Full basement with an additional full bathroom
