Duplex Home with Private Back
For Sale
$975,000
89-12 Rutledge Avenue, Glendale, NY 11385
Two-floor duplex plus a studio apartment with a private back deck and garage, built in 1940.
Property Size1,600 SF
Price / SF$609.38
Days on Market167
Property Features for 89-12 Rutledge Avenue
General Information
Standard status
Active
Size
1,600 SF
Property subtype
Duplex
Taxes and HOA fees
Annual Taxes
$3,549
Amenities
exposed ceiling beams
fireplaces
private back deck
wood floors
Building Details
Building Size
1,600 SF
Year Built
1940
Buildings
1
Listing Agency:
Crifasi Real Estate Inc
Listed By:
Joseph V. Crifasi · License #30CR1126424
(718) 930-0040
Source:
Cbwarburg
Added: Mar 27
Changed: Sep 8
Last Checked: Sep 8 at 9:30AM
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 Crifasi Real Estate Inc
Investment Insights
Based on property information with market context.
This duplex home offers a versatile two-family layout with character throughout. The main unit is a first- and second-floor duplex featuring three bedrooms, an EIK, a formal dining room, and a bright living room with a fireplace and exposed ceiling beam details. Wood floors run throughout, and the home includes 1.5 bathrooms and efficient gas heating.
A separate studio apartment sits on the lower level, providing flexibility for rental income or extended living. The studio also includes a fireplace.
Outside, the property includes a garage and a private back deck for relaxing or entertaining. Built in 1940, this is a compact, multi-living configuration well suited to buyers looking for both live-in and rental options within the same building.
A separate studio apartment sits on the lower level, providing flexibility for rental income or extended living. The studio also includes a fireplace.
Outside, the property includes a garage and a private back deck for relaxing or entertaining. Built in 1940, this is a compact, multi-living configuration well suited to buyers looking for both live-in and rental options within the same building.
Key Highlights
- Main unit is a first- and second‑floor duplex with 3 bedrooms, EIK, formal dining, and a fireplace
- Exposed ceiling beams and wood floors throughout the main living areas
- Studio apartment on the lower level includes a fireplace
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
$39,111
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
4.01%
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%
$782,220
$782.2K
Cap Rate 7%
$558,729
$558.7K
Cap Rate 9%
$434,567
$434.6K
Market Conditions
NOI Build-Up for 1,600 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
$73.9K $46.20/SF
− Vacancy
−$2.8K −$1.76/SF
EGI
$71.1K $44.44/SF
− OpEx
−$32.0K −$20.00/SF
NOI
$39.1K $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%
$782,220
Cap Rate 7%
$558,729
Cap Rate 9%
$434,567
Alternative Uses
Best Use
Apartment 5plus
$558.7K
$488.9K – $651.9K
NOI $39,111 @ 7.0% cap · market cap 4.01%
Second Best
Multifamily LT 5
$378.3K
$331.0K – $441.4K
NOI $26,483 @ 7.0% cap · market cap 2.72%
Theoretical Best
Office A
$1.18M
$1.03M – $1.38M
NOI $82,568 @ 7.0% cap · market cap 8.47%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Location Intelligence
Trade Area within ½ mile
1,882
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
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Market
Vacancy Rate% for Multifamily in Northeast region
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Frequently Asked Questions
What type of property is this?
Duplex - Two-floor duplex plus a studio apartment with a private back deck and garage, built in 1940.
Where is this duplex located?
The property is located at 89-12 Rutledge Avenue Glendale, NY.
What is the asking price?
The asking price for this property is $975,000.
What are key features of this property?
This property features: Main unit is a first- and second‑floor duplex with 3 bedrooms, EIK, formal dining, and a fireplace; Exposed ceiling beams and wood floors throughout the main living areas; Studio apartment on the lower level includes a fireplace
