Semi-Detached Two-Family
For Sale
$729,000
Pending
119 Seneca St, Staten Island, NY 10210
A 2004-built semi-detached two-family home with an owner unit and a self-contained studio, plus a private two-car driveway.
Property Size1,764 SF
Days on Market56
Property Features for 119 Seneca St
General Information
Standard status
Pending
Size
1,764 SF
Total Parking Spaces
2
Property subtype
Multi Family
Additional Details
Multifamily Units
2
Taxes and HOA fees
Annual Taxes
$5,459
Building Details
Building Size
1,764 SF
Year Built
2004
Stories
2
Tenancy
Multi
Listing Agency:
Reliance Realty One
Listed By:
Tsun M. (Calvin) Lau · License #10301216684
(646) 881-6225
Source:
Elliman
Added: Jul 10
Changed: Aug 31
Last Checked: Sep 1 at 8:37PM
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 Reliance Realty One
Investment Insights
Based on property information with market context.
Built in 2004, this semi-detached two-family home offers two distinct living setups within a contemporary, two-story configuration. The owner’s unit features an open-concept layout with hardwood flooring, a modern kitchen with a dishwasher, and bedrooms with ample closet storage. The income-producing portion is a fully self-contained studio apartment designed to maximize rental functionality, with its own designated mechanics. Additional space includes a partially finished lower level with flexibility for storage, recreation, or utilities, and washer/dryer setups are included.
Outside, the home is finished with low-maintenance brick and vinyl siding and includes private driveway off-street parking for two vehicles, along with territorial views.
The overall layout totals 3 bedrooms and 3 bathrooms across the two units, providing a practical structure for both owner-occupants and investors seeking an income-generating rental arrangement.
Outside, the home is finished with low-maintenance brick and vinyl siding and includes private driveway off-street parking for two vehicles, along with territorial views.
The overall layout totals 3 bedrooms and 3 bathrooms across the two units, providing a practical structure for both owner-occupants and investors seeking an income-generating rental arrangement.
Key Highlights
- Built in 2004: semi‑detached 2‑family home with 1,764 SF of interior living space
- Total of 3 bedrooms and 3 bathrooms across the owner unit and income‑producing studio apartment
- Owner unit features an open‑concept layout with hardwood flooring and a modern kitchen with dishwasher
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
$43,868
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
6.02%
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%
$877,360
$877.4K
Cap Rate 7%
$626,686
$626.7K
Cap Rate 9%
$487,422
$487.4K
Market Conditions
NOI Build-Up for 1,764 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
$65.6K $37.20/SF
− Vacancy
−$3.0K −$1.67/SF
EGI
$62.7K $35.53/SF
− OpEx
−$18.8K −$10.66/SF
NOI
$43.9K $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%
$877,360
Cap Rate 7%
$626,686
Cap Rate 9%
$487,422
Alternative Uses
Best Use
Multifamily LT 5
$626.7K
$548.4K – $731.1K
NOI $43,868 @ 7.0% cap · market cap 6.02%
Second Best
Apartment 5plus
$558.8K
$489.0K – $652.0K
NOI $39,118 @ 7.0% cap · market cap 5.37%
Theoretical Best
Office A
$841.7K
$736.5K – $982.0K
NOI $58,918 @ 7.0% cap · market cap 8.08%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
1,785
Businesses Nearby
Explore this area
Business Placement
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 - A 2004-built semi-detached two-family home with an owner unit and a self-contained studio, plus a private two-car driveway.
Where is this duplex located?
The property is located at 119 Seneca St Staten Island, NY.
What is the asking price?
The asking price for this property is $729,000.
What are key features of this property?
This property features: Built in 2004: semi‑detached 2‑family home with 1,764 SF of interior living space; Total of 3 bedrooms and 3 bathrooms across the owner unit and income‑producing studio apartment; Owner unit features an open‑concept layout with hardwood flooring and a modern kitchen with dishwasher
