Two-Family Colonial Home with Yard
For Sale
$1,175,000
Pending
121 Evergreen Avenue, Staten Island, NY 10305
MULTI_FAMILY - Colonial - Staten Island, NY
Property Size1,976 SF
Lot Size0.12 Acres
Days on Market130
Property Features for 121 Evergreen Avenue
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Zoning
R3X
Bedrooms
6
Bathrooms
4
Full bathrooms
3
Half bathrooms
1
Rooms
Bedroom 3, Bathroom 1, Bedroom 4, Bedroom 1, Bedroom 2, Bedroom 6, Bathroom 3, Bathroom 2, Bedroom 5, Bathroom 4
Parking features
Driveway, On Street, Off Street
Patio and Porch features
Deck, Patio
Fencing
Fenced
Basement
Full, Finished
Lot features
Front Yard, Back Yard
Subdivision
Dongan Hills-Above Hylan
Standard status
Pending
Size
1,976 SF
Lot size
0.12 Acres
Taxes and HOA fees
Tax Annual Amount
8538
Utilities
Sewer type
Public Sewer
Heating system
Natural Gas
Cooling system
Window Unit(s)
Amenities
finished basement
large yard
outdoor lighting
Building Details
Year built
1950
Floors in Building
2
Number of units
2
Building materials
Brick, Vinyl Siding
Architectural style
Colonial
Listing Agency:
Robert DeFalco Realty, Inc.
(718) 987-7900
Listed By:
Ronald Guidone
(718) 987-7900
Added: Apr 17
Changed: Aug 13
Last Checked: Aug 24 at 8:06PM
MLS# 2602053
Copyright © 2026 Staten Island Board of Realtors. 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 Colonial two-family home offers a flexible layout with a four-bedroom, two-bath unit over a two-bedroom, one-bath unit. The property includes a full finished basement with a half bath, along with updated utilities and abundant storage. Both floors have direct access to a large yard, with outdoor lighting. Exterior amenities include a deck and patio, and the lot is fenced.
The home was built in 1950 using brick construction and vinyl siding. Natural gas heating is provided, with window unit cooling. Parking is available via a three-car driveway, plus driveway and on-street/off-street options. The property is zoned R3X and connected to public sewer.
Set on a 0.1205-acre lot, this residence includes multiple bedrooms and bathrooms across both units and additional basement space, creating a practical setup for owner-occupants or rental tenants seeking a two-unit configuration.
The home was built in 1950 using brick construction and vinyl siding. Natural gas heating is provided, with window unit cooling. Parking is available via a three-car driveway, plus driveway and on-street/off-street options. The property is zoned R3X and connected to public sewer.
Set on a 0.1205-acre lot, this residence includes multiple bedrooms and bathrooms across both units and additional basement space, creating a practical setup for owner-occupants or rental tenants seeking a two-unit configuration.
Key Highlights
- 0.1205‑acre fenced lot with yard access from both floors
- Four‑bedroom, two‑bath unit over two‑bedroom, one‑bath unit
- Full finished basement with half bath, updated utilities, and storage
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
$51,880
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
4.42%
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%
$1,037,600
$1.0M
Cap Rate 7%
$741,143
$741.1K
Cap Rate 9%
$576,444
$576.4K
Market Conditions
NOI Build-Up for 1,976 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
$80.6K $40.80/SF
− Vacancy
−$6.5K −$3.29/SF
EGI
$74.1K $37.51/SF
− OpEx
−$22.2K −$11.25/SF
NOI
$51.9K $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%
$1,037,600
Cap Rate 7%
$741,143
Cap Rate 9%
$576,444
Alternative Uses
Best Use
Multifamily LT 5
$741.1K
$648.5K – $864.7K
NOI $51,880 @ 7.0% cap · market cap 4.42%
Second Best
Apartment 5plus
$681.9K
$596.7K – $795.5K
NOI $47,732 @ 7.0% cap · market cap 4.06%
Theoretical Best
Office A
$942.8K
$825.0K – $1.10M
NOI $65,999 @ 7.0% cap · market cap 5.62%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
2,662
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
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 Colonial home on a fenced lot with a finished basement, natural gas heating, and multi-car driveway parking.
Where is this duplex located?
The property is located at 121 Evergreen Avenue Staten Island, NY.
What is the asking price?
The asking price for this property is $1,175,000.
What are key features of this property?
This property features: 0.1205‑acre fenced lot with yard access from both floors; Four‑bedroom, two‑bath unit over two‑bedroom, one‑bath unit; Full finished basement with half bath, updated utilities, and storage
