Upgraded Apartment in Rego
For Sale
$289,000
Pending
98-33 64th Ave 4f, Queens, NY 11374
Recently upgraded one-bedroom apartment in a serene neighborhood.
Property Size668 SF
Days on Market269
Property Features for 98-33 64th Ave 4f
General Information
Standard status
Pending
Size
668 SF
Property subtype
Residential
Taxes and HOA fees
Annual Taxes
$777
Building Details
Building Size
668 SF
Year Built
1949
Listing Agency:
RE/MAX City Square
(718) 799-0726
Listed By:
JingYun Chen · License #10401228642
(718) 799-0726
Source:
Elliman
Added: Nov 28, 2025
Changed: Aug 11
Last Checked: Aug 23 at 5:02AM
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 RE/MAX City Square
Investment Insights
Based on property information with market context.
Located in the Rego Park neighborhood, this is a one-bedroom apartment featuring a sunken living room, dining area, kitchen, and full bathroom. The unit has wooden floors and large windows. The building is sound-proof and fire-proof. Subletting is allowed after two years. Parking is available for an extra fee. The property is within walking distance to the subway, buses, a park, and a shopping center. All utilities are included. Interior features include a living room/dining room. The overall appearance of the property is good.
Key Highlights
- All utilities included for easy budgeting.
- Walking distance to Subway, buses, park, shopping center.
- Large one bedroom apartment featuring a sunken living room and separate dining area.**
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
$16,329
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
5.65%
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%
$326,580
$326.6K
Cap Rate 7%
$233,271
$233.3K
Cap Rate 9%
$181,433
$181.4K
Market Conditions
NOI Build-Up for 668 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
$30.9K $46.20/SF
− Vacancy
−$1.2K −$1.76/SF
EGI
$29.7K $44.44/SF
− OpEx
−$13.4K −$20.00/SF
NOI
$16.3K $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%
$326,580
Cap Rate 7%
$233,271
Cap Rate 9%
$181,433
Alternative Uses
Best Use
Apartment 5plus
$233.3K
$204.1K – $272.2K
NOI $16,329 @ 7.0% cap · market cap 5.65%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$492.5K
$430.9K – $574.5K
NOI $34,472 @ 7.0% cap · market cap 11.93%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
5,009
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
Market
Vacancy Rate% for Multifamily in Northeast region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Apartment building - Recently upgraded one-bedroom apartment in a serene neighborhood.
Where is this apartment building located?
The property is located at 98-33 64th Ave 4f Queens, NY.
What is the asking price?
The asking price for this property is $289,000.
What are key features of this property?
This property features: All utilities included for easy budgeting.; Walking distance to Subway, buses, park, shopping center.; Large one bedroom apartment featuring a sunken living room and separate dining area.**
