1669 STEPHEN Street #TH
About This Property
Welcome to 16-69 Stephen Street in Ridgewood, Queens, a neighborhood currently trending as NYC's most desired place to live. This presents a great opportunity for investors looking to add an income-producing property to their portfolio or for an owner-occupant situation.
16-69 Stephen Street features two one-bedroom apartments, each receiving ample natural light, boasting hardwood floors, spacious living rooms, recessed lighting, and bedrooms able to fit a king and a queen bed, along with large, windowed kitchens. Additionally, the property includes a full, finished basement and a sizable front yard with 5-6 parking spaces.
The property has been upgraded with a new roof, boiler, and electrical and gas lines, and all leases are month-to-month.
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What does this mean?
Based on our analysis, the cap rate of this property is 1.25%. A negative cap rate indicates that the property might not be feasible as an income-producing asset. The median cap rate for a near zip code 11238 is 4.23%.
How much can I actually make?
Actual monthly rental income may vary between $4,760 and $7,140 depending on unit-specific characteristics. You can change the amount using the slider to further explore.
How is cap rate calculated?
Cap Rate = Net Operating Income (NOI) / Property Asset Value.
When calculating the cap rate, we assume 100% occupancy. Leverage (mortgage) is not considered.
Cap Rate provided by RealtyHop and RentHop, learn more about cap rate here.
Price History
| Date / Event | Date | Event | Price |
|---|---|---|---|
| Mar 15, 2025 | In contract | - | |
| In contract | |||
| Feb 14, 2025 | Listed by Coldwell Banker Warburg | $995,000 | |
| Listed by Coldwell Banker Warburg | |||
Property Highlights
1669 STEPHEN Street #TH, Queens, NY, 11385
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Comparables
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Price/ft²
Listed On
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Past Sales
| Date | Unit | Beds | Baths | Sqft | Price | Closed | Owner | Listed By |
|---|
Building Info
- 2 Units
- 1 Unit for Sale
About Northwestern Queens
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Nearby Rentals
Listing Courtesy of Coldwell Banker Warburg
Last Updated: 10 days ago
Last Checked: 10 minutes ago
Data Source: REBNY (©2024 Real Estate Board of New York)
