Two-Family High-Ranch
For Sale
$875,000
29 Topping Street, Staten Island, NY 10306
MULTI_FAMILY - Staten Island, NY
Property Size2,216 SF
Lot Size0.11 Acres
Price / SF$394.86
Days on Market326
Property Features for 29 Topping Street
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Zoning
R3X
Bedrooms
6
Bathrooms
2
Full bathrooms
2
Rooms
Bathroom 1, Bedroom 6, Bathroom 2, Bedroom 1, Bedroom 3, Bedroom 2, Bedroom 4, Bedroom 5
Parking features
On Street
Patio and Porch features
Deck, Patio
Interior features
Walk-In Closet(s), Ceiling Fan(s)
Basement
Full, Unfinished
Lot features
Front Yard, Back Yard
Subdivision
Oakwood - New Dorp Beach
Standard status
Active
APN
00024-4084
Size
2,216 SF
Lot size
0.11 Acres
Taxes and HOA fees
Tax Annual Amount
5834
Utilities
Sewer type
Public Sewer
Heating system
Hot Water(Heating), Natural Gas
Building Details
Year built
1945
Floors in Building
2
Number of units
2
Building materials
Vinyl Siding
Listing Agency:
Robert DeFalco Realty, Inc.
(718) 987-7900
Listed By:
Dana Walker · License #40WA1086893
(718) 987-7900
Added: Oct 3, 2025
Changed: Aug 14
Last Checked: Aug 24 at 10:06PM
MLS# 2505878
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.
Located at 29 Topping Street in Staten Island, this 1945 two-family high-ranch duplex contains 2,216 square feet and is arranged as two three-bedroom units in a 6-over-6 configuration. The property also includes a full unfinished basement, walk-in closet(s), ceiling fan(s), vinyl siding, and deck and patio areas.
The 0.1139-acre lot is served by public sewer and has natural gas hot-water heating. Parking is available on the street. The property is positioned in New Dorp Beach near beaches, parks, shopping, schools, transportation, and major roadways, with R3X zoning supporting its residential income-property classification.
The 0.1139-acre lot is served by public sewer and has natural gas hot-water heating. Parking is available on the street. The property is positioned in New Dorp Beach near beaches, parks, shopping, schools, transportation, and major roadways, with R3X zoning supporting its residential income-property classification.
Key Highlights
- Two‑family duplex with a 6‑over‑6 layout and 3 bedrooms in each unit
- 2,216 square feet on a 0.1139‑acre lot
- Full unfinished basement for storage, recreation, or future customization
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
$56,290
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
6.43%
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%
$1,125,800
$1.1M
Cap Rate 7%
$804,143
$804.1K
Cap Rate 9%
$625,444
$625.4K
Market Conditions
NOI Build-Up for 2,216 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
$85.1K $38.40/SF
− Vacancy
−$4.7K −$2.11/SF
EGI
$80.4K $36.29/SF
− OpEx
−$24.1K −$10.89/SF
NOI
$56.3K $25.40/SF
Area
ZIP 10306
Vacancy
5.50%
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%
$1,125,800
Cap Rate 7%
$804,143
Cap Rate 9%
$625,444
Alternative Uses
Best Use
Multifamily LT 5
$804.1K
$703.6K – $938.2K
NOI $56,290 @ 7.0% cap · market cap 6.43%
Second Best
Apartment 5plus
$714.6K
$625.3K – $833.7K
NOI $50,020 @ 7.0% cap · market cap 5.72%
Theoretical Best
Office A
$1.06M
$925.2K – $1.23M
NOI $74,015 @ 7.0% cap · market cap 8.46%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
437
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
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 - R3X-zoned residential income property with two three-bedroom units, an unfinished basement, and outdoor deck and patio areas.
Where is this duplex located?
The property is located at 29 Topping Street Staten Island, NY.
What is the asking price?
The asking price for this property is $875,000.
What are key features of this property?
This property features: Two‑family duplex with a 6‑over‑6 layout and 3 bedrooms in each unit; 2,216 square feet on a 0.1139‑acre lot; Full unfinished basement for storage, recreation, or future customization
