Newly Built Duplex with Finished
For Sale
$1,245,000
124 Castleton Avenue, Staten Island, NY 10301
Two-family residence with modern finishes, separate laundry in each apartment, and R3X zoning.
Property Size2,700 SF
Days on Market23
Property Features for 124 Castleton Avenue
General Information
Standard status
Active
Size
2,700 SF
Total Parking Spaces
1
Property subtype
Residential Income
Zoning
R3X
Site & Location
Highway Access
Yes
Public Transit
Yes
Additional Details
Sprinkler System
Yes
Multifamily Units
2
Amenities
stainless steel appliances
washer and dryer
attic storage
finished basement
laundry room
Building Details
Building Size
2,700 SF
Year Built
2026
Buildings
1
Stories
2
Units
1
Listing Agency:
Hometime Estates LLC
(347) 628-7087
Listed By:
Albert Haxhini
(347) 628-7087
Source:
Michaelfraulo
Added: Aug 6
Changed: Aug 28
Last Checked: Aug 28 at 5:32AM
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 Hometime Estates LLC
Investment Insights
Based on property information with market context.
Completed in 2026, this two-family home offers a 6-over-6 layout with contemporary finishes throughout both apartments. Each unit includes a living room, formal dining room, full bathroom, kitchen with stainless steel appliances, and a primary bedroom suite with a private full bath, separate shower, and walk-in closet. Individual washers and dryers serve both residences.
The property also includes attic storage, a fully finished basement with a separate entrance, tiled floors, a laundry room, and a full bathroom. A one-car garage and sprinkler system add to the physical improvements. Located approximately 5 minutes from the Verrazzano-Narrows Bridge, the home has S46 and S52 bus service at the corner, with additional express and local buses one block away. R3X zoning applies.
The property also includes attic storage, a fully finished basement with a separate entrance, tiled floors, a laundry room, and a full bathroom. A one-car garage and sprinkler system add to the physical improvements. Located approximately 5 minutes from the Verrazzano-Narrows Bridge, the home has S46 and S52 bus service at the corner, with additional express and local buses one block away. R3X zoning applies.
Key Highlights
- Two‑family home completed in 2026 with a 6‑over‑6 layout
- Each apartment has a primary suite, private full bath, walk‑in closet, and in‑unit washer and dryer
- Fully finished basement with separate entrance, laundry room, 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
$67,144
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
5.39%
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%
$1,342,880
$1.3M
Cap Rate 7%
$959,200
$959.2K
Cap Rate 9%
$746,044
$746.0K
Market Conditions
NOI Build-Up for 2,700 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
$100.4K $37.20/SF
− Vacancy
−$4.5K −$1.67/SF
EGI
$95.9K $35.53/SF
− OpEx
−$28.8K −$10.66/SF
NOI
$67.1K $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%
$1,342,880
Cap Rate 7%
$959,200
Cap Rate 9%
$746,044
Alternative Uses
Best Use
Multifamily LT 5
$959.2K
$839.3K – $1.12M
NOI $67,144 @ 7.0% cap · market cap 5.39%
Second Best
Apartment 5plus
$855.4K
$748.4K – $997.9K
NOI $59,875 @ 7.0% cap · market cap 4.81%
Theoretical Best
Office A
$1.29M
$1.13M – $1.50M
NOI $90,181 @ 7.0% cap · market cap 7.24%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Yes
Sprinkler system
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
1,732
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-family residence with modern finishes, separate laundry in each apartment, and R3X zoning.
Where is this duplex located?
The property is located at 124 Castleton Avenue Staten Island, NY.
What is the asking price?
The asking price for this property is $1,245,000.
What are key features of this property?
This property features: Two‑family home completed in 2026 with a 6‑over‑6 layout; Each apartment has a primary suite, private full bath, walk‑in closet, and in‑unit washer and dryer; Fully finished basement with separate entrance, laundry room, and full bathroom
