Hi-Ranch Income
New
For Sale
$978,000
76 2nd Avenue, East Rockaway, NY 11518
Features central air, baseboard, and tile countertops within a hi-ranch residential configuration.
Property Size2,142 SF
Days on Market3
Property Features for 76 2nd Avenue
General Information
Standard status
Active
Size
2,142 SF
Property subtype
Residential Income
Taxes and HOA fees
Annual Taxes
$12,153
Amenities
Central Air
Baseboard
Tile Counters
Vinyl
Detached, Driveway, On Street, Private, Open, Shared Driveway
Hi Ranch
Building Details
Building Size
2,142 SF
Year Built
1925
Listing Agency:
Douglas Elliman Real Estate
(516) 551-5276
Listed By:
Vanessa I. Ambrosecchia
(516) 551-5276
Source:
Evrealestate
Added: Aug 10
Changed: Aug 12
Last Checked: Aug 12 at 3:21AM
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 Douglas Elliman Real Estate
Investment Insights
Based on property information with market context.
This hi-ranch residential income property at 76 2nd Avenue includes central air, baseboard, and tile countertops. The exterior features vinyl siding, a detached configuration, and driveway access, with open, private, shared-driveway, and on-street parking options identified. Constructed in 1925, the property is located in East Rockaway, Nassau County, New York.
Key Highlights
- Hi‑ranch residential income property
- Built in 1925
- Central air and baseboard features
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
$38,208
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
3.91%
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%
$764,160
$764.2K
Cap Rate 7%
$545,829
$545.8K
Cap Rate 9%
$424,533
$424.5K
Market Conditions
NOI Build-Up for 2,142 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
$72.7K $33.96/SF
− Vacancy
−$3.3K −$1.53/SF
EGI
$69.5K $32.43/SF
− OpEx
−$31.3K −$14.59/SF
NOI
$38.2K $17.84/SF
Area
Nassau County, NY
Vacancy
4.50%
Lease Rate
$33.96 /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%
$764,160
Cap Rate 7%
$545,829
Cap Rate 9%
$424,533
Alternative Uses
Best Use
Apartment 5plus
$545.8K
$477.6K – $636.8K
NOI $38,208 @ 7.0% cap · market cap 3.91%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$1.42M
$1.24M – $1.65M
NOI $99,137 @ 7.0% cap · market cap 10.14%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
779
Businesses Nearby
Explore this area
Business Placement
Demographics for 11518, NY
10,869
Population
4,235
Households
2.6
Avg Household Size
44
Median Age
44%
College-Educated
92%
High-School Grad
1.4 sq mi
ZIP Area
7,764
Density / Sq Mi
$104,955
Median Household Income
$56,154
Median Earnings
$2,306
Median Rent
$590,800
Median Home Value
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Residential income property - Features central air, baseboard, and tile countertops within a hi-ranch residential configuration.
Where is this residential income property located?
The property is located at 76 2nd Avenue East Rockaway, NY.
What is the asking price?
The asking price for this property is $978,000.
What are key features of this property?
This property features: Hi‑ranch residential income property; Built in 1925; Central air and baseboard features
