Two-Unit Colonial
For Sale
$998,000
508 New Dorp Lane, Staten Island, NY 10306
Residential, Colonial, Staten Island, NY
Property Size1,600 SF
Lot Size0.07 Acres
Price / SF$623.75
Days on Market446
Property Features for 508 New Dorp Lane
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning
R3-1
Bathrooms
4
Full bathrooms
3
Half bathrooms
1
Rooms
Bathroom 3, Bathroom 4, Bathroom 2, Bathroom 1
Parking features
Carport
Patio and Porch features
Deck, Patio
Interior features
Central Air, Deck, Dishwasher, Laundry Area, Microwave, Patio Garden, Pool, Refrigerator, Stove, Washer
Basement
Finished
Subdivision
New Dorp
Standard status
Active
Size
1,600 SF
Lot size
0.07 Acres
Taxes and HOA fees
Tax Annual Amount
6091
Amenities
pool
Building Details
Year built
2004
Floors in Building
2
Number of units
1
Flooring type
Hardwood, Tile
Building materials
Wood Frame
Roof type
Asphalt
Architectural style
Colonial
Listing Agency:
Anne Lopa Real Estate
(718) 227-1111
Listed By:
Ann Lopa
(917) 364-4755
Added: Jun 25, 2025
Changed: Sep 12
Last Checked: Sep 13 at 9:06PM
MLS# 493736
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 Colonial property contains a primary residence and a separate one-bedroom apartment. The main home includes an eat-in kitchen with stainless steel appliances, granite countertops, a family room, living room, dining room, half bath, three bedrooms, and two full baths. Hardwood flooring and tile are used throughout, and the home also has a front porch, washer and dryer, central air, and a private bath in the main bedroom.
The apartment has its own eat-in kitchen, living room, dining area, bedroom, dishwasher, central air unit, and heating system. Two electric meters, two heating units, and two central air units support separation between the residences. Exterior features include a pool with a new liner, pool deck, garden area, patio, driveway, carport, and PVC fencing. The property is located at 508 New Dorp Lane in Staten Island, NY 10306, near grocery stores, shops, restaurants, schools, buses, trains, and the bridge.
The apartment has its own eat-in kitchen, living room, dining area, bedroom, dishwasher, central air unit, and heating system. Two electric meters, two heating units, and two central air units support separation between the residences. Exterior features include a pool with a new liner, pool deck, garden area, patio, driveway, carport, and PVC fencing. The property is located at 508 New Dorp Lane in Staten Island, NY 10306, near grocery stores, shops, restaurants, schools, buses, trains, and the bridge.
Key Highlights
- Two‑family Colonial property with a separate one‑bedroom apartment
- R3‑1 zoning on 0.0661 acres
- Two separate electric meters, heating units, and central air units
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
$40,643
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
4.07%
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%
$812,860
$812.9K
Cap Rate 7%
$580,614
$580.6K
Cap Rate 9%
$451,589
$451.6K
Market Conditions
NOI Build-Up for 1,600 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
$61.4K $38.40/SF
− Vacancy
−$3.4K −$2.11/SF
EGI
$58.1K $36.29/SF
− OpEx
−$17.4K −$10.89/SF
NOI
$40.6K $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%
$812,860
Cap Rate 7%
$580,614
Cap Rate 9%
$451,589
Alternative Uses
Best Use
Multifamily LT 5
$580.6K
$508.0K – $677.4K
NOI $40,643 @ 7.0% cap · market cap 4.07%
Second Best
Apartment 5plus
$515.9K
$451.4K – $601.9K
NOI $36,115 @ 7.0% cap · market cap 3.62%
Theoretical Best
Office A
$763.4K
$668.0K – $890.7K
NOI $53,440 @ 7.0% cap · market cap 5.35%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
1,483
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
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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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 - Separate systems and an outdoor pool support the two-residence configuration.
Where is this duplex located?
The property is located at 508 New Dorp Lane Staten Island, NY.
What is the asking price?
The asking price for this property is $998,000.
What are key features of this property?
This property features: Two‑family Colonial property with a separate one‑bedroom apartment; R3‑1 zoning on 0.0661 acres; Two separate electric meters, heating units, and central air units
