Two-Family Property with Finished
For Sale
$1,099,000
7330 67th Drive, Middle Village, NY 11379
Two-bedroom-over-two-bedroom layout with a full basement, concrete backyard, and one-car legal carport.
Property Size1,880 SF
Days on Market150
Property Features for 7330 67th Drive
General Information
Standard status
Active
Size
1,880 SF
Total Parking Spaces
1
Property subtype
Duplex
Taxes and HOA fees
Annual Taxes
$6,067
Amenities
finished basement
backyard
Building Details
Building Size
1,880 SF
Year Built
1930
Tenancy
Multi
Listing Agency:
Signature Spaces NYC Corp
Listed By:
Nicholas Vittorino
(718) 517-0379
Source:
Serhant
Added: Apr 6
Changed: Aug 25
Last Checked: Sep 2 at 1:30AM
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 Signature Spaces NYC Corp
Investment Insights
Based on property information with market context.
This two-family property in Middle Village features a two-bedroom-over-two-bedroom layout with a full finished basement currently used for storage. The property includes a clean, fully concrete backyard and a legal carport providing parking for one car.
Building improvements include a 10-year-old gas boiler, a well-maintained roof, and aluminum siding installed 5 years ago. Located just off Metropolitan Avenue at 7330 67th Dr, the property offers a residential configuration with separate living spaces and additional basement storage.
Building improvements include a 10-year-old gas boiler, a well-maintained roof, and aluminum siding installed 5 years ago. Located just off Metropolitan Avenue at 7330 67th Dr, the property offers a residential configuration with separate living spaces and additional basement storage.
Key Highlights
- Two‑bedroom‑over‑two‑bedroom two‑family layout
- Full finished basement currently used for storage
- Clean, fully concrete backyard
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
$45,956
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
4.18%
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%
$919,120
$919.1K
Cap Rate 7%
$656,514
$656.5K
Cap Rate 9%
$510,622
$510.6K
Market Conditions
NOI Build-Up for 1,880 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
$86.9K $46.20/SF
− Vacancy
−$3.3K −$1.76/SF
EGI
$83.6K $44.44/SF
− OpEx
−$37.6K −$20.00/SF
NOI
$46.0K $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%
$919,120
Cap Rate 7%
$656,514
Cap Rate 9%
$510,622
Alternative Uses
Best Use
Apartment 5plus
$656.5K
$574.5K – $765.9K
NOI $45,956 @ 7.0% cap · market cap 4.18%
Second Best
Multifamily LT 5
$444.5K
$389.0K – $518.6K
NOI $31,117 @ 7.0% cap · market cap 2.83%
Theoretical Best
Office A
$1.39M
$1.21M – $1.62M
NOI $97,017 @ 7.0% cap · market cap 8.83%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
1,504
Businesses Nearby
Explore this area
Business Placement
Demographics for 11379, NY
37,906
Population
15,237
Households
2.5
Avg Household Size
44
Median Age
35%
College-Educated
84%
High-School Grad
2.2 sq mi
ZIP Area
17,230
Density / Sq Mi
$92,509
Median Household Income
$54,109
Median Earnings
$1,989
Median Rent
$886,600
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 - Two-bedroom-over-two-bedroom layout with a full basement, concrete backyard, and one-car legal carport.
Where is this duplex located?
The property is located at 7330 67th Drive Middle Village, NY.
What is the asking price?
The asking price for this property is $1,099,000.
What are key features of this property?
This property features: Two‑bedroom‑over‑two‑bedroom two‑family layout; Full finished basement currently used for storage; Clean, fully concrete backyard
