Renovated Multifamily
For Sale
$990,000
2011 Clove Road, Staten Island, NY 10304
Residential, Staten Island, NY
Property Size1,368 SF
Lot Size0.06 Acres
Price / SF$723.68
Days on Market44
Property Features for 2011 Clove Road
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning
R3-2
Bedrooms
5
Bathrooms
3
Full bathrooms
3
Rooms
Bathroom 1, Bathroom 2, Bathroom 3, Bedroom 3, Bedroom 4, Bedroom 5, Bedroom 1, Bedroom 2
Parking features
Garage - Detached
Interior features
A/C Unit, Refrigerator, Stove
Basement
Finished, Full
Subdivision
Grasmere
Standard status
Active
Size
1,368 SF
Lot size
0.06 Acres
Taxes and HOA fees
Tax Annual Amount
5946
Amenities
washer and dryer
backyard
garage
large balcony
Building Details
Year built
1910
Floors in Building
2
Flooring type
Tile, Hardwood
Listing Agency:
Tiger Realty
Listed By:
Hui Bin (Sky) Wu
(917) 708-9966
Added: Jul 27
Changed: Sep 7
Last Checked: Sep 8 at 7:06PM
MLS# 503307
Copyright © 2026 Brooklyn New York Multiple Listing Service. 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 detached multifamily property offers 1,368 square feet across two levels on a 0.0574-acre lot. The first floor includes three bedrooms, a living room, washer and dryer, basement access, a backyard, and access to the detached garage. The second floor adds two bedrooms, another living room, washer and dryer, and a large balcony. Two electric meters serve the property. Interior finishes include hardwood and tile flooring, along with air-conditioning units, a refrigerator, and a stove. Built in 1910 and fully renovated, the property is zoned R3-2.
The property is near the Verrazzano Bridge, with direct Brooklyn service available via the S53 bus.
The property is near the Verrazzano Bridge, with direct Brooklyn service available via the S53 bus.
Key Highlights
- 1,368 SF detached multifamily property on a 0.0574‑acre lot
- Fully renovated two‑level layout with 3 bedrooms on the first floor and 2 bedrooms on the second
- Two electric meters
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
$33,804
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
3.41%
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%
$676,080
$676.1K
Cap Rate 7%
$482,914
$482.9K
Cap Rate 9%
$375,600
$375.6K
Market Conditions
NOI Build-Up for 1,368 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
$52.5K $38.40/SF
− Vacancy
−$4.2K −$3.10/SF
EGI
$48.3K $35.30/SF
− OpEx
−$14.5K −$10.59/SF
NOI
$33.8K $24.71/SF
Area
ZIP 10304
Vacancy
8.07%
Lease Rate
$38.40 /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%
$676,080
Cap Rate 7%
$482,914
Cap Rate 9%
$375,600
Alternative Uses
Best Use
Multifamily LT 5
$482.9K
$422.6K – $563.4K
NOI $33,804 @ 7.0% cap · market cap 3.41%
Second Best
Apartment 5plus
$442.6K
$387.3K – $516.3K
NOI $30,980 @ 7.0% cap · market cap 3.13%
Theoretical Best
Office A
$652.7K
$571.2K – $761.5K
NOI $45,692 @ 7.0% cap · market cap 4.62%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
1
Residential units
Location Intelligence
Trade Area within ½ mile
1,093
Businesses Nearby
Explore this area
Business Placement
Demographics for 10304, NY
46,944
Population
17,524
Households
2.7
Avg Household Size
38
Median Age
31%
College-Educated
84%
High-School Grad
3.5 sq mi
ZIP Area
13,413
Density / Sq Mi
$71,506
Median Household Income
$41,752
Median Earnings
$1,516
Median Rent
$659,900
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?
Multifamily property - Detached two-level residence with separate electric meters, a detached garage, backyard, and large balcony.
Where is this multifamily property located?
The property is located at 2011 Clove Road Staten Island, NY.
What is the asking price?
The asking price for this property is $990,000.
What are key features of this property?
This property features: 1,368 SF detached multifamily property on a 0.0574‑acre lot; Fully renovated two‑level layout with 3 bedrooms on the first floor and 2 bedrooms on the second; Two electric meters
