Renovated Two-Family
For Sale
$1,350,000
71-27 69th Street, Ridgewood, NY 11385
Legal two-family residence with updated interiors, a finished basement, and private outdoor space.
Property Size2,014 SF
Days on Market8
Property Features for 71-27 69th Street
General Information
Standard status
Active
Size
2,014 SF
Property subtype
Duplex
Additional Details
Multifamily Units
2
Taxes and HOA fees
Annual Taxes
$7,304
Amenities
finished basement
private backyard
storage shed
Building Details
Building Size
2,014 SF
Year Built
1930
Listing Agency:
Realty Depot LLC
(347) 219-2037
Listed By:
Gregory A. Yadgaroff
Source:
Serhant
Added: Aug 3
Changed: Aug 9
Last Checked: Aug 9 at 11:26AM
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 Realty Depot LLC
Investment Insights
Based on property information with market context.
Built in 1930, this legal two-family residence was completely renovated three years ago. Both units include modern kitchens, updated bathrooms, and parquet flooring. The improvements also include a restored roof and a finished basement that adds storage or flexible-use space.
Outdoor features include a private backyard and a storage shed. The property is located at 71-27 69th Street in Ridgewood, NY 11385.
Outdoor features include a private backyard and a storage shed. The property is located at 71-27 69th Street in Ridgewood, NY 11385.
Key Highlights
- Legal two‑family property at 71‑27 69th Street, Ridgewood, NY 11385
- Completely gut renovated three years ago
- Modern kitchens and updated bathrooms in both units
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
$49,231
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
3.65%
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%
$984,620
$984.6K
Cap Rate 7%
$703,300
$703.3K
Cap Rate 9%
$547,011
$547.0K
Market Conditions
NOI Build-Up for 2,014 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
$93.0K $46.20/SF
− Vacancy
−$3.5K −$1.76/SF
EGI
$89.5K $44.44/SF
− OpEx
−$40.3K −$20.00/SF
NOI
$49.2K $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%
$984,620
Cap Rate 7%
$703,300
Cap Rate 9%
$547,011
Alternative Uses
Best Use
Apartment 5plus
$703.3K
$615.4K – $820.5K
NOI $49,231 @ 7.0% cap · market cap 3.65%
Second Best
Multifamily LT 5
$476.2K
$416.7K – $555.6K
NOI $33,335 @ 7.0% cap · market cap 2.47%
Theoretical Best
Office A
$1.48M
$1.30M – $1.73M
NOI $103,932 @ 7.0% cap · market cap 7.70%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
2,672
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 - Legal two-family residence with updated interiors, a finished basement, and private outdoor space.
Where is this duplex located?
The property is located at 71-27 69th Street Ridgewood, NY.
What is the asking price?
The asking price for this property is $1,350,000.
What are key features of this property?
This property features: Legal two‑family property at 71‑27 69th Street, Ridgewood, NY 11385; Completely gut renovated three years ago; Modern kitchens and updated bathrooms in both units
