Colonial Duplex
For Sale
$799,999
Pending
502 Melba Street, Staten Island, NY 10314
SINGLE_FAMILY - Colonial - Staten Island, NY
Property Size1,154 SF
Lot Size0.06 Acres
Days on Market109
Property Features for 502 Melba Street
General Information
Property type
Residential
Property subtype
Duplex
Property condition
Under Construction
Zoning
R3-1
Bedrooms
3
Bathrooms
3
Full bathrooms
1
Half bathrooms
1
Rooms
Bathroom 3, Bedroom 3, Bathroom 2, Bathroom 4, Bedroom 1, Bedroom 2, Bathroom 1
Parking features
Off Street
Patio and Porch features
Deck
Basement
Finished, Full
Appliances
Dishwasher
Lot features
Back Yard
Subdivision
Manor Heights
Standard status
Pending
APN
0801-0029
Size
1,154 SF
Lot size
0.06 Acres
Taxes and HOA fees
Tax Annual Amount
7806
Utilities
Sewer type
Public Sewer
Heating system
Forced Air, Natural Gas
Cooling system
Central Air
Building Details
Year built
2019
Floors in Building
2
Building materials
Vinyl Siding
Architectural style
Colonial
Listing Agency:
Homes R Us Realty of NY, Inc.
(718) 668-2550
Listed By:
Huan Kuei Lo · License #10401313713
(347) 335-7946
Added: May 19
Changed: Aug 4
Last Checked: Sep 4 at 7:06PM
MLS# 2602752
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.
502 Melba Street offers a move-in-ready Colonial-style residence configured with three bedrooms and three and a half bathrooms, plus a fully finished basement for additional living and entertaining space. The home’s interior features impressive 9-foot ceilings, supporting a bright, open feel throughout. Forced air heating with natural gas and central air conditioning help maintain year-round comfort.
Outside, the property includes a paved backyard and a deck, providing outdoor space suited to low-maintenance gatherings. Off-street parking is available. Built in 2019, the home is set on a 0.0574-acre lot and includes 1,154 square feet of space, with vinyl siding construction.
Zoned R3-1, the property connects to public sewer and is supported by the provided utility service. A dishwasher is included among the listed appliances.
Outside, the property includes a paved backyard and a deck, providing outdoor space suited to low-maintenance gatherings. Off-street parking is available. Built in 2019, the home is set on a 0.0574-acre lot and includes 1,154 square feet of space, with vinyl siding construction.
Zoned R3-1, the property connects to public sewer and is supported by the provided utility service. A dishwasher is included among the listed appliances.
Key Highlights
- Three bedrooms and three and a half bathrooms with a fully finished basement
- Impressive 9‑foot ceilings and bright, spacious interior
- Central air and forced‑air natural gas heating
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
$31,475
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
3.93%
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%
$629,500
$629.5K
Cap Rate 7%
$449,643
$449.6K
Cap Rate 9%
$349,722
$349.7K
Market Conditions
NOI Build-Up for 1,154 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
$47.1K $40.80/SF
− Vacancy
−$2.1K −$1.84/SF
EGI
$45.0K $38.96/SF
− OpEx
−$13.5K −$11.69/SF
NOI
$31.5K $27.27/SF
Area
ZIP 10314
Vacancy
4.50%
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%
$629,500
Cap Rate 7%
$449,643
Cap Rate 9%
$349,722
Alternative Uses
Best Use
Multifamily LT 5
$449.6K
$393.4K – $524.6K
NOI $31,475 @ 7.0% cap · market cap 3.93%
Second Best
Apartment 5plus
$416.9K
$364.8K – $486.4K
NOI $29,186 @ 7.0% cap · market cap 3.65%
Theoretical Best
Office A
$550.6K
$481.8K – $642.4K
NOI $38,544 @ 7.0% cap · market cap 4.82%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Single-tenant
Tenancy
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
451
Businesses Nearby
Explore this area
Business Placement
Demographics for 10314, NY
92,157
Population
33,554
Households
2.7
Avg Household Size
41
Median Age
37%
College-Educated
89%
High-School Grad
13.0 sq mi
ZIP Area
7,089
Density / Sq Mi
$104,655
Median Household Income
$58,769
Median Earnings
$1,726
Median Rent
$665,500
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 - Move-in-ready Colonial-style duplex with 9-foot ceilings, central air, and off-street parking.
Where is this duplex located?
The property is located at 502 Melba Street Staten Island, NY.
What is the asking price?
The asking price for this property is $799,999.
What are key features of this property?
This property features: Three bedrooms and three and a half bathrooms with a fully finished basement; Impressive 9‑foot ceilings and bright, spacious interior; Central air and forced‑air natural gas heating
