Custom Duplex with Ground-Level
For Sale
Contact for pricing
1024 Ionia Avenue, Staten Island, NY 10309
Under-construction two-family home in R-3X zoning with designer finishes, attached garage, and flexible lower-level living space.
Property Size3,629 SF
Price / SF$490.22
Days on Market9
Property Features for 1024 Ionia Avenue
General Information
Standard status
Active
Size
3,629 SF
Property subtype
Multifamily
Zoning
R-3X
Additional Details
Multifamily Units
2
Amenities
fireplace
hardwood floors
radiant heating
front porch
attached garage
Building Details
Year Built
2026
Buildings
1
Stories
2
Units
2
Construction
colonial
Listing Agency:
Barbara A. Smith
Listed By:
Barbara Smith · License #10351207568
(718) 667-9100
Source:
Crexi
Added: Aug 26
Changed: Aug 31
Last Checked: Sep 3 at 9:03AM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Barbara A. Smith
Investment Insights
Based on property information with market context.
This two-family center hall colonial is planned with 3,629 square feet of finished space and a detailed custom interior. The main residence includes a two-story foyer, curved oak staircase, expansive kitchen with quartz waterfall counters, ceiling-height cabinetry, butler’s bar, and walk-in pantry. A family room with linear fireplace, formal dining room, living room, four bedrooms, three upstairs baths, a primary suite, and a princess suite create an extensive residential layout. The lower level adds a recreation room, 3/4 bath, and a ground-level one-bedroom apartment with laundry hookups. Radiant heating serves the entire first floor and second-floor baths. Additional features include hardwood floors, Pella windows, custom millwork, natural stone and stucco exterior, front porch, alarm system, and attached garage. Construction is underway with spring 2027 delivery planned, and custom finish selections remain available. The property is located at 1024 Ionia Avenue in Staten Island and is zoned R-3X.
Key Highlights
- 3,629 SF two‑family center hall colonial
- Ground‑level one‑bedroom apartment with laundry hookups
- Four bedrooms and three upstairs baths in the main residence
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
$90,247
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
5.07%
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%
$1,804,940
$1.8M
Cap Rate 7%
$1,289,243
$1.3M
Cap Rate 9%
$1,002,744
$1.0M
Market Conditions
NOI Build-Up for 3,629 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
$135.0K $37.20/SF
− Vacancy
−$6.1K −$1.67/SF
EGI
$128.9K $35.53/SF
− OpEx
−$38.7K −$10.66/SF
NOI
$90.2K $24.87/SF
Area
Staten Island, NY
Vacancy
4.50%
Lease Rate
$37.20 /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%
$1,804,940
Cap Rate 7%
$1,289,243
Cap Rate 9%
$1,002,744
Alternative Uses
Best Use
Multifamily LT 5
$1.29M
$1.13M – $1.50M
NOI $90,247 @ 7.0% cap · market cap 5.07%
Second Best
Apartment 5plus
$1.15M
$1.01M – $1.34M
NOI $80,477 @ 7.0% cap · market cap 4.52%
Theoretical Best
Office A
$1.73M
$1.52M – $2.02M
NOI $121,209 @ 7.0% cap · market cap 6.81%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
356
Businesses Nearby
Explore this area
Business Placement
Demographics for 10309, NY
33,523
Population
12,770
Households
2.6
Avg Household Size
41
Median Age
40%
College-Educated
92%
High-School Grad
7.3 sq mi
ZIP Area
4,592
Density / Sq Mi
$123,638
Median Household Income
$67,348
Median Earnings
$1,907
Median Rent
$745,500
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 - Under-construction two-family home in R-3X zoning with designer finishes, attached garage, and flexible lower-level living space.
Where is this duplex located?
The property is located at 1024 Ionia Avenue Staten Island, NY.
What is the asking price?
The asking price for this property is $1,779,000.
What are key features of this property?
This property features: 3,629 SF two‑family center hall colonial; Ground‑level one‑bedroom apartment with laundry hookups; Four bedrooms and three upstairs baths in the main residence
