Renovated Two-Family
New
For Sale
$1,595,000
708 Hylan Boulevard, Staten Island, NY 10305
Residential, Cape, Staten Island, NY
Property Size2,553 SF
Lot Size0.17 Acres
Price / SF$624.76
Days on Market1
Property Features for 708 Hylan Boulevard
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning
R3-2
Bathrooms
2
Full bathrooms
2
Rooms
Bathroom 2, Bathroom 1
Parking features
Garage
Interior features
Central Air
Basement
Full, Finished
Subdivision
Grasmere
Standard status
Active
Size
2,553 SF
Lot size
0.17 Acres
Taxes and HOA fees
Tax Annual Amount
8598
Building Details
Year built
1960
Floors in Building
1
Number of units
2
Flooring type
Hardwood
Building materials
Brick
Roof type
Shingle
Architectural style
Other
Listing Agency:
J. Milo Real Estate Ltd
(718) 872-9300
Listed By:
Jenine Milo · License #10301120597
(718) 501-4494
Added: Sep 21
Last Checked: Sep 21 at 8:06PM
MLS# 504749
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 brick two-family property offers 2,553 square feet of above-grade living space along with a 1,157-square-foot finished lower level, based on a certified appraisal. The owner's apartment includes formal living and dining areas, a brick fireplace, renovated kitchen and bath, bedrooms, travertine flooring, and recessed lighting. The second-floor unit also features an updated kitchen, marble bathroom, bedrooms, and living area. The lower level has a separate exterior entrance, recreation room, and boiler/laundry area with plumbing rough-ins. Additional improvements include a new roof, updated electrical and plumbing, and central air.
The property occupies a 6,300-square-foot lot on the residential section of Hylan Boulevard in Staten Island. It is approximately 3 minutes from the Verrazzano Bridge, with access to the Staten Island Expressway, shopping, dining, and transportation. R3-2 zoning is identified, with development or expansion potential under NYC City of Yes. An oversized two-car attached garage provides direct interior access, while the exterior includes a patio and rear yard.
The property occupies a 6,300-square-foot lot on the residential section of Hylan Boulevard in Staten Island. It is approximately 3 minutes from the Verrazzano Bridge, with access to the Staten Island Expressway, shopping, dining, and transportation. R3-2 zoning is identified, with development or expansion potential under NYC City of Yes. An oversized two-car attached garage provides direct interior access, while the exterior includes a patio and rear yard.
Key Highlights
- Legal two‑family property with 2,553 square feet of above‑grade living space
- Finished lower level measures 1,157 square feet and includes recreation and boiler/laundry areas
- Oversized 6,300‑square‑foot lot with patio and rear yard
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
$67,030
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
4.20%
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%
$1,340,600
$1.3M
Cap Rate 7%
$957,571
$957.6K
Cap Rate 9%
$744,778
$744.8K
Market Conditions
NOI Build-Up for 2,553 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
$104.2K $40.80/SF
− Vacancy
−$8.4K −$3.29/SF
EGI
$95.8K $37.51/SF
− OpEx
−$28.7K −$11.25/SF
NOI
$67.0K $26.26/SF
Area
ZIP 10305
Vacancy
8.07%
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%
$1,340,600
Cap Rate 7%
$957,571
Cap Rate 9%
$744,778
Alternative Uses
Best Use
Multifamily LT 5
$957.6K
$837.9K – $1.12M
NOI $67,030 @ 7.0% cap · market cap 4.20%
Second Best
Apartment 5plus
$881.0K
$770.9K – $1.03M
NOI $61,670 @ 7.0% cap · market cap 3.87%
Theoretical Best
Office A
$1.22M
$1.07M – $1.42M
NOI $85,271 @ 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
Yes
Highway access
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
896
Businesses Nearby
Explore this area
Business Placement
Demographics for 10305, NY
44,008
Population
16,850
Households
2.6
Avg Household Size
41
Median Age
32%
College-Educated
85%
High-School Grad
4.0 sq mi
ZIP Area
11,002
Density / Sq Mi
$86,294
Median Household Income
$52,183
Median Earnings
$1,656
Median Rent
$627,200
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
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Frequently Asked Questions
What type of property is this?
Duplex - Detached brick residence with two updated apartments, a finished lower level, attached garage, patio, and rear yard.
Where is this duplex located?
The property is located at 708 Hylan Boulevard Staten Island, NY.
What is the asking price?
The asking price for this property is $1,595,000.
What are key features of this property?
This property features: Legal two‑family property with 2,553 square feet of above‑grade living space; Finished lower level measures 1,157 square feet and includes recreation and boiler/laundry areas; Oversized 6,300‑square‑foot lot with patio and rear yard
