Income-Producing Colonial Two-Family
508 New Dorp Ln Staten Island, NY 10306
For Sale
$998,000
Two-family colonial in the heart of New Dorp.
Property Size2,625 SF
Price / SF$380.19
Days on Market95
Property Features for 508 New Dorp Ln
General Information
Standard status
Active
Size
2,625 SF
Property subtype
Multi Family
Building Details
Year Built
2004
Listing Agency:
ANNE LOPA REAL ESTATE
(718) 227-1111
Listed By:
Ann Lopa
(718) 227-1111
Source:
Elliman
Added: Apr 27
Changed: Jul 10
Last Checked: Jul 29 at 12:23PM
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 ANNE LOPA REAL ESTATE
Investment Insights
Based on property information with market context.
This wonderful two-family colonial, approximately 2625 sq ft, is an income-producing property located in the heart of New Dorp. The home is situated close to grocery stores, coffee shops, restaurants, a gym, Staten Island Tech High School, New Dorp High School, buses, trains, and is just minutes from the bridge. The main house is approximately 1750 sq ft, while the apartment is approximately 875 sq ft. The main house features a custom eat-in kitchen with stainless steel appliances, granite countertops, and a glass subway tile backsplash, a family room, a living room, a dining room, and a 1/2 bath. Oak floors and railings run throughout. The upper level includes a large master bedroom with a private full bath, a large bedroom, a third bedroom, and a second full bath. The apartment includes a large eat-in kitchen with stainless steel appliances, including a dishwasher, a living room, a dining area, and a bedroom. The yard features a pool with a new liner and a pool deck, a garden area, and space for tables, chairs, and lounges, plus a driveway and a PVC fence around the property. The tenant has a separate central air unit and a separate heating system. The main house includes a washer and dryer, which the tenant can share if the owner allows. There are two separate heating units, two central air units, and two separate electric meters.
Key Highlights
- Income‑producing 2‑family home in a highly desirable location in the heart of New Dorp.
- Convenient access to amenities: grocery stores, coffee shops, restaurants, gym, top‑rated schools, buses, trains, and the bridge.
- Main house features a custom eat‑in kitchen with stainless steel appliances, granite countertops, and glass subway tile backsplash, plus oak floors and railings throughout.
Financial Insights For Multifamily LT 5
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $100.8k | $38.40 |
| − Vacancy | −$5.5k | −$2.11 |
| EGI | $95.3k | $36.29 |
| − OpEx | −$28.6k | −$10.89 |
| NOI | $66.7k | $25.40 |
2,625 SF · lease $38.40/SF/yr · vacancy 5.50% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$952.6K
$833.5K – $1.11M
NOI $66,679 @ 7.0% cap · market cap 6.68%
Second Best
Apartment 5plus
$846.5K
$740.7K – $987.5K
NOI $59,252 @ 7.0% cap · market cap 5.94%
Theoretical Best
Office A
$1.25M
$1.10M – $1.46M
NOI $87,676 @ 7.0% cap · market cap 8.79%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use
Frequently Asked Questions
What type of property is this?
Duplex - Two-family colonial in the heart of New Dorp.
Where is this duplex located?
The property is located at 508 New Dorp Ln Staten Island, NY.
What is the asking price?
The asking price for this property is $998,000.
What are key features of this property?
This property features: Income‑producing 2‑family home in a highly desirable location in the heart of New Dorp.; Convenient access to amenities: grocery stores, coffee shops, restaurants, gym, top‑rated schools, buses, trains, and the bridge.; Main house features a **custom eat‑in kitchen with stainless steel appliances, granite countertops, and glass subway tile backsplash**, plus oak floors and railings throughout.
