Two-Family Home, Potential
For Sale
$869,000
Pending
88 Taft Ave, Staten Island, NY 10301
Two-family home with potential for conversion to three-family.
Property Size1,748 SF
Days on Market139
Property Features for 88 Taft Ave
General Information
Standard status
Pending
Size
1,748 SF
Property subtype
Other
Taxes and HOA fees
Annual Taxes
$3,911
Building Details
Building Size
1,748 SF
Year Built
1920
Units
3
Listing Agency:
Exit Realty Group
(347) 259-5336
Listed By:
Stephanie Wilson
(347) 259-5336
Source:
Elliman
Added: Apr 15
Changed: Aug 14
Last Checked: Aug 30 at 8:10PM
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 Exit Realty Group
Investment Insights
Based on property information with market context.
This two-family home presents an opportunity for owner-occupancy with rental income potential. The layout is similar to a three-family configuration and could be converted. Each floor has its own boiler heating system, along with 3 gas meters and 4 electric meters, providing independence for tenants. The property is in excellent condition with well-maintained interiors. A large backyard offers space for outdoor activities. The location has a bike score of 43, indicating it is somewhat bikeable, a walk score of 47, indicating car-dependent, and a transit score of 58, indicating good transit.
Key Highlights
- Opportunity to live rent‑free while generating rental income.
- Can easily be converted into a three‑family home.
- Each floor has its own boiler heating system, gas meter, and electric meter.
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
$43,470
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
5.00%
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%
$869,400
$869.4K
Cap Rate 7%
$621,000
$621.0K
Cap Rate 9%
$483,000
$483.0K
Market Conditions
NOI Build-Up for 1,748 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
$65.0K $37.20/SF
− Vacancy
−$2.9K −$1.67/SF
EGI
$62.1K $35.53/SF
− OpEx
−$18.6K −$10.66/SF
NOI
$43.5K $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%
$869,400
Cap Rate 7%
$621,000
Cap Rate 9%
$483,000
Alternative Uses
Best Use
Multifamily LT 5
$621.0K
$543.4K – $724.5K
NOI $43,470 @ 7.0% cap · market cap 5.00%
Second Best
Apartment 5plus
$553.8K
$484.6K – $646.1K
NOI $38,764 @ 7.0% cap · market cap 4.46%
Theoretical Best
Office A
$834.1K
$729.8K – $973.1K
NOI $58,384 @ 7.0% cap · market cap 6.72%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,728
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 home with potential for conversion to three-family.
Where is this duplex located?
The property is located at 88 Taft Ave Staten Island, NY.
What is the asking price?
The asking price for this property is $869,000.
What are key features of this property?
This property features: Opportunity to live rent‑free while generating rental income.; Can easily be converted into a three‑family home.; Each floor has its own boiler heating system, gas meter, and electric meter.
