Brick Duplex
For Sale
$679,000
Pending
12 Freeman Pl, Staten Island, NY 10310
Two-family residence with separate living areas, tenant occupancy, and a full unfinished basement.
Property Size1,650 SF
Days on Market166
Property Features for 12 Freeman Pl
General Information
Standard status
Pending
Size
1,650 SF
Property subtype
Multi-Family
Additional Details
Multifamily Units
2
Building Details
Year Built
1960
Construction
All Brick Semi-Attached
Listing Agency:
Coldwell Banker Advantage
Listed By:
Mary T Giordano · License #10301218265
(718) 948-3600
Source:
Statenislandhomelistings
Added: Mar 22
Changed: Sep 1
Last Checked: Sep 1 at 8:03PM
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 Coldwell Banker Advantage
Investment Insights
Based on property information with market context.
This legal two-family, semi-attached residence was built in 1960 and offers approximately 1,650 square feet across two residential levels. The original first floor includes a living room, eat-in kitchen, two bedrooms, and one bathroom. The second floor has been updated and provides an eat-in kitchen, living room, two bedrooms, one bathroom, and attic space.
A full unfinished basement adds storage and utility space. The property is currently tenant occupied, with showings scheduled around tenant availability. It is located in the Clove Lakes section of Staten Island.
A full unfinished basement adds storage and utility space. The property is currently tenant occupied, with showings scheduled around tenant availability. It is located in the Clove Lakes section of Staten Island.
Key Highlights
- Legal two‑family semi‑attached home
- All‑brick construction built in 1960
- Approximately 1,650 square feet
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
$41,033
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
6.04%
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%
$820,660
$820.7K
Cap Rate 7%
$586,186
$586.2K
Cap Rate 9%
$455,922
$455.9K
Market Conditions
NOI Build-Up for 1,650 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 $37.20/SF
− Vacancy
−$2.8K −$1.67/SF
EGI
$58.6K $35.53/SF
− OpEx
−$17.6K −$10.66/SF
NOI
$41.0K $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%
$820,660
Cap Rate 7%
$586,186
Cap Rate 9%
$455,922
Alternative Uses
Best Use
Multifamily LT 5
$586.2K
$512.9K – $683.9K
NOI $41,033 @ 7.0% cap · market cap 6.04%
Second Best
Apartment 5plus
$522.7K
$457.4K – $609.8K
NOI $36,590 @ 7.0% cap · market cap 5.39%
Theoretical Best
Office A
$787.3K
$688.9K – $918.5K
NOI $55,110 @ 7.0% cap · market cap 8.12%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
1,857
Businesses Nearby
Explore this area
Business Placement
Demographics for 10310, NY
26,667
Population
9,909
Households
2.7
Avg Household Size
37
Median Age
31%
College-Educated
88%
High-School Grad
1.8 sq mi
ZIP Area
14,815
Density / Sq Mi
$106,118
Median Household Income
$57,861
Median Earnings
$1,638
Median Rent
$623,300
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-family residence with separate living areas, tenant occupancy, and a full unfinished basement.
Where is this duplex located?
The property is located at 12 Freeman Pl Staten Island, NY.
What is the asking price?
The asking price for this property is $679,000.
What are key features of this property?
This property features: Legal two‑family semi‑attached home; All‑brick construction built in 1960; Approximately 1,650 square feet
