New Construction Duplex With Separate Basement
For Sale
$1,378,000
178 Parkinson Avenue, Staten Island, NY 10305
MULTI_FAMILY - Staten Island, NY
Property Size3,200 SF
Lot Size0.09 Acres
Price / SF$430.63
Days on Market112
Property Features for 178 Parkinson Avenue
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Property condition
Under Construction
Zoning
R3-2
Bedrooms
6
Bathrooms
5
Full bathrooms
3
Rooms
Bathroom 2, Bedroom 1, Bathroom 4, Bathroom 1, Bedroom 6, Bathroom 3, Bedroom 4, Bathroom 5, Bedroom 2, Bedroom 3, Bedroom 5
Parking features
Off Street, Carport, Driveway
Fencing
Fenced
Basement
Full, Finished
Lot features
Front Yard, Back Yard
Subdivision
Old Town
Standard status
Active
APN
03221-0003
Size
3,200 SF
Lot size
0.09 Acres
Taxes and HOA fees
Tax Annual Amount
6438
Utilities
Sewer type
Public Sewer
Heating system
Natural Gas, Forced Air
Cooling system
Central Air
Building Details
Year built
2025
Floors in Building
2
Number of units
2
Building materials
Stucco
Listing Agency:
Robert DeFalco Realty, Inc.
(718) 987-7900
Listed By:
Dritan Tony Gashi
(718) 987-7900
Added: May 4
Changed: Aug 2
Last Checked: Aug 23 at 11:06AM
MLS# 2602439
Copyright © 2026 Staten Island Board of Realtors. 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.
New construction 6-over-6 duplex (2025) offered under R3-2 zoning, with a separate basement entrance and its own electric meter. The building features stucco construction, natural gas forced-air heating, and central air cooling. The home includes off-street parking with a carport and driveway, and the property is fenced.
Site and utilities include a 0.0918-acre lot and 3,200 square feet of property size, served by public sewer. Parking is available on site through off-street spaces, with both a carport and driveway. The property is located one block from Hylan Blvd and within minutes to the Verrazzano Bridge.
This is a basement-plus-up setup designed for separate access via the basement entrance, supporting flexible occupancy and straightforward utility separation.
Site and utilities include a 0.0918-acre lot and 3,200 square feet of property size, served by public sewer. Parking is available on site through off-street spaces, with both a carport and driveway. The property is located one block from Hylan Blvd and within minutes to the Verrazzano Bridge.
This is a basement-plus-up setup designed for separate access via the basement entrance, supporting flexible occupancy and straightforward utility separation.
Key Highlights
- 6‑over‑6 duplex under construction with year built 2025
- Separate basement entrance and separate electric meter
- 0.0918‑acre lot with 3,200 square feet of property size
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
$84,017
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
6.10%
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%
$1,680,340
$1.7M
Cap Rate 7%
$1,200,243
$1.2M
Cap Rate 9%
$933,522
$933.5K
Market Conditions
NOI Build-Up for 3,200 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
$130.6K $40.80/SF
− Vacancy
−$10.5K −$3.29/SF
EGI
$120.0K $37.51/SF
− OpEx
−$36.0K −$11.25/SF
NOI
$84.0K $26.26/SF
Area
ZIP 10305
Vacancy
8.07%
Lease Rate
$40.80 /SF/Yr
Expense Ratio
30.00%
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%
$1,680,340
Cap Rate 7%
$1,200,243
Cap Rate 9%
$933,522
Alternative Uses
Best Use
Multifamily LT 5
$1.20M
$1.05M – $1.40M
NOI $84,017 @ 7.0% cap · market cap 6.10%
Second Best
Apartment 5plus
$1.10M
$966.2K – $1.29M
NOI $77,299 @ 7.0% cap · market cap 5.61%
Theoretical Best
Office A
$1.53M
$1.34M – $1.78M
NOI $106,881 @ 7.0% cap · market cap 7.76%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
1,186
Businesses Nearby
Explore this area
Business Placement
Demographics for 10305, NY
44,008
Population
16,850
Households
2.6
Avg Household Size
41
Median Age
32%
College-Educated
85%
High-School Grad
4.0 sq mi
ZIP Area
11,002
Density / Sq Mi
$86,294
Median Household Income
$52,183
Median Earnings
$1,656
Median Rent
$627,200
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 - Under-construction duplex zoned R3-2 featuring a separate basement entrance and electric meter plus central air and natural gas heat.
Where is this duplex located?
The property is located at 178 Parkinson Avenue Staten Island, NY.
What is the asking price?
The asking price for this property is $1,378,000.
What are key features of this property?
This property features: 6‑over‑6 duplex under construction with year built 2025; Separate basement entrance and separate electric meter; 0.0918‑acre lot with 3,200 square feet of property size
