Residential Income Property with
New
For Sale
$330,000
97-07 63rd Road, New York, NY 11374
New York, NY
Property Size720 SF
Price / SF$458.33
Days on Market5
Property Features for 97-07 63rd Road
General Information
Property type
Residential Multi Family
Property subtype
Other
Bedrooms
1
Bathrooms
1
Full bathrooms
1
Rooms
Bedroom 1
Standard status
Active
Size
720 SF
Amenities
24-hour doorman
on-site management
live-in superintendent
key-fob entry
seasonal outdoor swimming pool
playground
private landscaped courtyard
basement laundry room
private balcony
hardwood floors
stainless steel appliances
pet-friendly
subleasing permitted
Building Details
Year built
1957
Listing Agency:
NextHome Platinum Properties
(516) 788-8785
Listed By:
John H. Kim · License #10491209750
(888) 868-6985
Added: Sep 27
Changed: Sep 28
Last Checked: Oct 1 at 7:06PM
MLS# 1055824
Copyright © 2026 NextHome, Inc. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This 720-square-foot, one-bedroom, one-bathroom co-op at Park City 3 & 4 includes a private balcony with garden views. East- and south-facing exposures bring natural light into the home, which also features hardwood floors, a windowed kitchen with stainless-steel appliances, and a separate dining area. The building was constructed in 1957.
Building services and shared amenities include a 24-hour doorman, on-site management, a live-in superintendent, key-fob entry, a seasonal outdoor pool, a playground, a landscaped courtyard, and basement laundry. Indoor parking is available through a waitlist. Pets are permitted, and subleasing is allowed.
The property is near an M/R subway station and express bus service. Rego Center, Costco, Queens Center Mall, restaurants, shops, and everyday services are also nearby.
Building services and shared amenities include a 24-hour doorman, on-site management, a live-in superintendent, key-fob entry, a seasonal outdoor pool, a playground, a landscaped courtyard, and basement laundry. Indoor parking is available through a waitlist. Pets are permitted, and subleasing is allowed.
The property is near an M/R subway station and express bus service. Rego Center, Costco, Queens Center Mall, restaurants, shops, and everyday services are also nearby.
Key Highlights
- 720‑square‑foot, one‑bedroom, one‑bathroom co‑op with a private balcony
- East- and south‑facing exposures; balcony overlooks garden views
- Windowed kitchen with stainless‑steel appliances and hardwood floors
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
$22,527
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
6.83%
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%
$450,540
$450.5K
Cap Rate 7%
$321,814
$321.8K
Cap Rate 9%
$250,300
$250.3K
Market Conditions
NOI Build-Up for 720 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
$43.1K $59.88/SF
− Vacancy
−$2.2K −$2.99/SF
EGI
$41.0K $56.89/SF
− OpEx
−$18.4K −$25.60/SF
NOI
$22.5K $31.29/SF
Area
New York, NY
Vacancy
5.00%
Lease Rate
$59.88 /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%
$450,540
Cap Rate 7%
$321,814
Cap Rate 9%
$250,300
Alternative Uses
Best Use
Apartment 5plus
$321.8K
$281.6K – $375.5K
NOI $22,527 @ 7.0% cap · market cap 6.83%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$1.79M
$1.57M – $2.09M
NOI $125,453 @ 7.0% cap · market cap 38.02%
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
5,790
Businesses Nearby
Explore this area
Business Placement
Demographics for 11374, NY
47,129
Population
21,197
Households
2.2
Avg Household Size
43
Median Age
51%
College-Educated
90%
High-School Grad
0.9 sq mi
ZIP Area
52,366
Density / Sq Mi
$86,333
Median Household Income
$58,309
Median Earnings
$1,957
Median Rent
$484,500
Median Home Value
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Frequently Asked Questions
What type of property is this?
Residential income property - The co-op residence pairs a private outdoor area with full-service building amenities and convenient transit access.
Where is this residential income property located?
The property is located at 97-07 63rd Road New York, NY.
What is the asking price?
The asking price for this property is $330,000.
What are key features of this property?
This property features: 720‑square‑foot, one‑bedroom, one‑bathroom co‑op with a private balcony; East- and south‑facing exposures; balcony overlooks garden views; Windowed kitchen with stainless‑steel appliances and hardwood floors
