Two-Family Residential Income
For Sale
$699,000
Pending
123 Prescott Avenue, Staten Island, NY 10306
Two-unit home with an unfinished basement, detached garage, and above-ground pool, offering rental income potential.
Property Size1,436 SF
Days on Market161
Property Features for 123 Prescott Avenue
General Information
Standard status
Pending
Size
1,436 SF
Property subtype
MultiFamily
Zoning
R3X
Taxes and HOA fees
Annual Taxes
$7,050
Amenities
Eat In
Full Bath
2
Gas
Hot Water
Separate
2.00
Unfinished
Full
Units
Aluminum Siding
Building Details
Year Built
1945
Listing Agency:
DiTommaso Real Estate
(917) 648-5279
Listed By:
Kathleen Barzal · License #40BA1047347
(917) 648-5279
Source:
Compass
Added: Mar 17
Changed: Aug 8
Last Checked: Jul 21 at 3:17AM
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 DiTommaso Real Estate
Investment Insights
Based on property information with market context.
This two-family residential income property offers two separate living layouts. The first floor includes a living room, kitchen, full bathroom, office, and two bedrooms, with one bedroom currently used as a dining room. The second floor features a living room, kitchen, one bedroom, and a full bathroom.
The home also has a full, unfinished basement with utilities and ample open space for storage or future improvements. Exterior amenities include a yard with a detached garage and an above-ground pool.
The property is described as needing TLC, making it suitable for buyers planning renovations while maintaining income from the second unit.
The home also has a full, unfinished basement with utilities and ample open space for storage or future improvements. Exterior amenities include a yard with a detached garage and an above-ground pool.
The property is described as needing TLC, making it suitable for buyers planning renovations while maintaining income from the second unit.
Key Highlights
- Two‑family home built in 1945 with separate living spaces on the first and second floors
- First floor includes living room, eat‑in kitchen, full bath, office, and 2 bedrooms (one used as dining room)
- Second floor offers living room, kitchen, 1 bedroom, and a full bath
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
$36,477
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
5.22%
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%
$729,540
$729.5K
Cap Rate 7%
$521,100
$521.1K
Cap Rate 9%
$405,300
$405.3K
Market Conditions
NOI Build-Up for 1,436 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
$55.1K $38.40/SF
− Vacancy
−$3.0K −$2.11/SF
EGI
$52.1K $36.29/SF
− OpEx
−$15.6K −$10.89/SF
NOI
$36.5K $25.40/SF
Area
ZIP 10306
Vacancy
5.50%
Lease Rate
$38.40 /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%
$729,540
Cap Rate 7%
$521,100
Cap Rate 9%
$405,300
Alternative Uses
Best Use
Multifamily LT 5
$521.1K
$456.0K – $608.0K
NOI $36,477 @ 7.0% cap · market cap 5.22%
Second Best
Apartment 5plus
$463.0K
$405.2K – $540.2K
NOI $32,413 @ 7.0% cap · market cap 4.64%
Theoretical Best
Office A
$685.2K
$599.5K – $799.4K
NOI $47,963 @ 7.0% cap · market cap 6.86%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,680
Businesses Nearby
Explore this area
Business Placement
Demographics for 10306, NY
57,919
Population
21,299
Households
2.7
Avg Household Size
43
Median Age
34%
College-Educated
88%
High-School Grad
7.2 sq mi
ZIP Area
8,044
Density / Sq Mi
$97,746
Median Household Income
$54,052
Median Earnings
$1,743
Median Rent
$675,400
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-unit home with an unfinished basement, detached garage, and above-ground pool, offering rental income potential.
Where is this duplex located?
The property is located at 123 Prescott Avenue Staten Island, NY.
What is the asking price?
The asking price for this property is $699,000.
What are key features of this property?
This property features: Two‑family home built in 1945 with separate living spaces on the first and second floors; First floor includes living room, eat‑in kitchen, full bath, office, and 2 bedrooms (one used as dining room); Second floor offers living room, kitchen, 1 bedroom, and a full bath
