Semi-Attached 2BR
For Sale
$284,999
Pending
229 Freeborn Street, Staten Island, NY 10306
SINGLE_FAMILY - Bungalow - Staten Island, NY
Property Size540 SF
Lot Size0.01 Acres
Days on Market57
Property Features for 229 Freeborn Street
General Information
Property type
Residential
Property subtype
Duplex
Zoning
R-31
Bedrooms
2
Bathrooms
1
Full bathrooms
1
Rooms
Bedroom 1, Bedroom 2, Bathroom 1
Parking features
On Street
Basement
Crawl Space
Appliances
Dryer, Microwave, Refrigerator, Washer
Subdivision
Midland Beach
Standard status
Pending
APN
3799-51
Size
540 SF
Lot size
0.01 Acres
Taxes and HOA fees
Tax Annual Amount
2543
Utilities
Sewer type
Public Sewer
Heating system
Forced Air, Natural Gas
Building Details
Year built
1930
Floors in Building
1
Building materials
Vinyl Siding
Architectural style
Bungalow
Listing Agency:
Homes R Us Realty of NY, Inc.
(718) 668-2550
Listed By:
Leor Mizrahi
(718) 668-2550
Added: Jun 29
Changed: Aug 2
Last Checked: Aug 24 at 3:06PM
MLS# 2603655
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.
229 Freeborn Street is a semi-attached single-family bungalow offering 2 bedrooms and 1 bathroom. The home is presented as a property that may be suited to investors or end-users, with minor cosmetic upgrades identified in the remarks.
The property is located in Staten Island, Richmond County, in proximity to the beach, boardwalk, restaurants, shopping, schools, and public transportation.
The lot size is listed at 0.0135 acres, and the property size is provided as 540 square feet. The listing notes there are no HOA fees.
The property is located in Staten Island, Richmond County, in proximity to the beach, boardwalk, restaurants, shopping, schools, and public transportation.
The lot size is listed at 0.0135 acres, and the property size is provided as 540 square feet. The listing notes there are no HOA fees.
Key Highlights
- Semi‑attached single‑family home with 2 bedrooms and 1 bathroom
- No HOA fees
- Built in 1930; bungalow architectural style
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
$12,189
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
4.28%
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%
$243,780
$243.8K
Cap Rate 7%
$174,129
$174.1K
Cap Rate 9%
$135,433
$135.4K
Market Conditions
NOI Build-Up for 540 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
$23.3K $43.20/SF
− Vacancy
−$1.2K −$2.16/SF
EGI
$22.2K $41.04/SF
− OpEx
−$10.0K −$18.47/SF
NOI
$12.2K $22.57/SF
Area
ZIP 10306
Vacancy
5.00%
Lease Rate
$43.20 /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%
$243,780
Cap Rate 7%
$174,129
Cap Rate 9%
$135,433
Alternative Uses
Best Use
Apartment 5plus
$174.1K
$152.4K – $203.2K
NOI $12,189 @ 7.0% cap · market cap 4.28%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$257.7K
$225.5K – $300.6K
NOI $18,036 @ 7.0% cap · market cap 6.33%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
740
Businesses Nearby
Explore this area
Business Placement
Demographics for 10306, NY
57,919
Population
21,299
Households
2.7
Avg Household Size
43
Median Age
34%
College-Educated
88%
High-School Grad
7.2 sq mi
ZIP Area
8,044
Density / Sq Mi
$97,746
Median Household Income
$54,052
Median Earnings
$1,743
Median Rent
$675,400
Median Home Value
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Single family property - Semi-attached single-family bungalow with 2 bedrooms and 1 bathroom, offered with no HOA fees.
Where is this single family property located?
The property is located at 229 Freeborn Street Staten Island, NY.
What is the asking price?
The asking price for this property is $284,999.
What are key features of this property?
This property features: Semi‑attached single‑family home with 2 bedrooms and 1 bathroom; No HOA fees; Built in 1930; bungalow architectural style
