Two-Family Duplex With
For Sale
$850,000
7905 Pitkin Avenue, Ozone Park, NY 11417
Two-family duplex featuring a new boiler and on-site garage access.
Property Size1,128 SF
Days on Market22
Property Features for 7905 Pitkin Avenue
General Information
Standard status
Active
Size
1,128 SF
Total Parking Spaces
1
Property subtype
Residential Income
Site & Location
Highway Access
Yes
Public Transit
Yes
Additional Details
Multifamily Units
2
Taxes and HOA fees
Annual Taxes
$6,217
Building Details
Building Size
1,128 SF
Year Built
1945
Units
2
Listing Agency:
Century 21 Professional Realty
(718) 659-0202
Listed By:
Neal J. Khoorchand · License #10311207397
Source:
Cohenandcohenrealty
Added: Jul 30
Changed: Aug 18
Last Checked: Aug 19 at 3:20PM
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 Century 21 Professional Realty
Investment Insights
Based on property information with market context.
This two-family duplex at 7905 Pitkin Avenue includes a one-car garage and a brand-new boiler. Constructed in 1945, the property offers a residential income configuration with two separate family-oriented living arrangements.
The property is situated near public transportation, major highways, schools, places of worship, shopping, JFK International Airport, and Resorts World Casino. Its location provides access to a broad range of transportation, retail, educational, and recreational destinations.
The property is situated near public transportation, major highways, schools, places of worship, shopping, JFK International Airport, and Resorts World Casino. Its location provides access to a broad range of transportation, retail, educational, and recreational destinations.
Key Highlights
- Two‑family duplex configuration
- Brand‑new boiler
- 1‑car garage
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
$27,573
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
3.24%
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%
$551,460
$551.5K
Cap Rate 7%
$393,900
$393.9K
Cap Rate 9%
$306,367
$306.4K
Market Conditions
NOI Build-Up for 1,128 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
$52.1K $46.20/SF
− Vacancy
−$2.0K −$1.76/SF
EGI
$50.1K $44.44/SF
− OpEx
−$22.6K −$20.00/SF
NOI
$27.6K $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%
$551,460
Cap Rate 7%
$393,900
Cap Rate 9%
$306,367
Alternative Uses
Best Use
Apartment 5plus
$393.9K
$344.7K – $459.6K
NOI $27,573 @ 7.0% cap · market cap 3.24%
Second Best
Multifamily LT 5
$266.7K
$233.4K – $311.2K
NOI $18,670 @ 7.0% cap · market cap 2.20%
Theoretical Best
Office A
$831.6K
$727.6K – $970.2K
NOI $58,210 @ 7.0% cap · market cap 6.85%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
1,944
Businesses Nearby
Explore this area
Business Placement
Demographics for 11417, NY
31,229
Population
9,855
Households
3.2
Avg Household Size
38
Median Age
25%
College-Educated
78%
High-School Grad
1.1 sq mi
ZIP Area
28,390
Density / Sq Mi
$86,330
Median Household Income
$42,193
Median Earnings
$1,853
Median Rent
$731,900
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-family duplex featuring a new boiler and on-site garage access.
Where is this duplex located?
The property is located at 7905 Pitkin Avenue Ozone Park, NY.
What is the asking price?
The asking price for this property is $850,000.
What are key features of this property?
This property features: Two‑family duplex configuration; Brand‑new boiler; 1‑car garage
