Duplex With Finished
For Sale
$699,999
118 Scribner Avenue, Staten Island, NY 10301
Two-apartment residential property with separate living areas, kitchens, bedrooms, bathrooms, and a finished lower level.
Property Size2,288 SF
Days on Market150
Property Features for 118 Scribner Avenue
General Information
Standard status
Active
Size
2,288 SF
Property subtype
Residential Income
Zoning
R3A
Units
Unit Mix
1 x 3BR/1BA, 1 x 4BR/1BA
Multifamily Units
2
Taxes and HOA fees
Annual Taxes
$3,828
Building Details
Building Size
2,288 SF
Year Built
1899
Buildings
1
Stories
2
Units
2
Listing Agency:
Our Island Real Estate, Inc.
(347) 512-6080
Listed By:
Jonathan Bruno · License #JB1910
(347) 512-6080
Source:
Michaelfraulo
Added: Apr 3
Changed: Aug 29
Last Checked: Aug 29 at 5:35PM
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 Our Island Real Estate, Inc.
Investment Insights
Based on property information with market context.
This duplex includes separate apartment layouts on the first and second levels. The first-floor unit has a living room, dining room, eat-in kitchen, three bedrooms, and a full bathroom. The second-floor unit offers a living room, dining room, eat-in kitchen, four bedrooms, and a full bathroom.
A fully finished basement provides additional space, a separate entrance, and a three-quarter bathroom. The property is zoned R3A and was built in 1899.
A fully finished basement provides additional space, a separate entrance, and a three-quarter bathroom. The property is zoned R3A and was built in 1899.
Key Highlights
- Two‑apartment duplex with three‑bedroom and four‑bedroom units
- First‑floor layout includes living room, dining room, eat‑in kitchen, 3 bedrooms, and full bathroom
- Second‑floor apartment includes 4 bedrooms, living room, dining room, eat‑in kitchen, and full bathroom
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
$56,898
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
8.13%
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%
$1,137,960
$1.1M
Cap Rate 7%
$812,829
$812.8K
Cap Rate 9%
$632,200
$632.2K
Market Conditions
NOI Build-Up for 2,288 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 $37.20/SF
− Vacancy
−$3.8K −$1.67/SF
EGI
$81.3K $35.53/SF
− OpEx
−$24.4K −$10.66/SF
NOI
$56.9K $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%
$1,137,960
Cap Rate 7%
$812,829
Cap Rate 9%
$632,200
Alternative Uses
Best Use
Multifamily LT 5
$812.8K
$711.2K – $948.3K
NOI $56,898 @ 7.0% cap · market cap 8.13%
Second Best
Apartment 5plus
$724.8K
$634.2K – $845.7K
NOI $50,739 @ 7.0% cap · market cap 7.25%
Theoretical Best
Office A
$1.09M
$955.3K – $1.27M
NOI $76,420 @ 7.0% cap · market cap 10.92%
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
1,791
Businesses Nearby
Explore this area
Business Placement
Demographics for 10301, NY
41,474
Population
16,631
Households
2.5
Avg Household Size
40
Median Age
38%
College-Educated
88%
High-School Grad
3.8 sq mi
ZIP Area
10,914
Density / Sq Mi
$84,937
Median Household Income
$50,140
Median Earnings
$1,697
Median Rent
$657,000
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 - Two-apartment residential property with separate living areas, kitchens, bedrooms, bathrooms, and a finished lower level.
Where is this duplex located?
The property is located at 118 Scribner Avenue Staten Island, NY.
What is the asking price?
The asking price for this property is $699,999.
What are key features of this property?
This property features: Two‑apartment duplex with three‑bedroom and four‑bedroom units; First‑floor layout includes living room, dining room, eat‑in kitchen, 3 bedrooms, and full bathroom; Second‑floor apartment includes 4 bedrooms, living room, dining room, eat‑in kitchen, and full bathroom
