Two-Family Home in
For Sale
$799,995
245 Garrison Ave, Staten Island, NY 10314
Legal two-family home on a corner lot, needs renovation.
Property Size1,321 SF
Days on Market110
Property Features for 245 Garrison Ave
General Information
Standard status
Active
Size
1,321 SF
Property subtype
Multi Family
Taxes and HOA fees
Annual Taxes
$7,266
Building Details
Building Size
1,321 SF
Year Built
1955
Stories
3
Listing Agency:
Robert DeFalco Realty, Inc.
Listed By:
Ahmed Oun · License #10401384141
(718) 987-7900
Source:
Elliman
Added: May 19
Changed: Aug 23
Last Checked: Sep 4 at 1:25PM
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 Robert DeFalco Realty, Inc.
Investment Insights
Based on property information with market context.
This legal two-family home is located in the Westerleigh neighborhood. The property features a classic 6-over-6 layout with two bathrooms and an attached garage, situated on a corner lot. The property requires renovation, making it suitable for buyers or investors looking to add value and customize the space. The location offers convenient access to transportation and is near highly regarded schools. The property has a walk score of 88, indicating it is very walkable, a transit score of 58, indicating good transit options, and a bike score of 50, indicating it is bikeable.
Key Highlights
- Desirable Westerleigh neighborhood location.
- Legal two‑family home.
- Convenient access to transportation.
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
$36,030
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
4.50%
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%
$720,600
$720.6K
Cap Rate 7%
$514,714
$514.7K
Cap Rate 9%
$400,333
$400.3K
Market Conditions
NOI Build-Up for 1,321 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
$53.9K $40.80/SF
− Vacancy
−$2.4K −$1.84/SF
EGI
$51.5K $38.96/SF
− OpEx
−$15.4K −$11.69/SF
NOI
$36.0K $27.27/SF
Area
ZIP 10314
Vacancy
4.50%
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%
$720,600
Cap Rate 7%
$514,714
Cap Rate 9%
$400,333
Alternative Uses
Best Use
Multifamily LT 5
$514.7K
$450.4K – $600.5K
NOI $36,030 @ 7.0% cap · market cap 4.50%
Second Best
Apartment 5plus
$477.3K
$417.6K – $556.8K
NOI $33,410 @ 7.0% cap · market cap 4.18%
Theoretical Best
Office A
$630.3K
$551.5K – $735.4K
NOI $44,122 @ 7.0% cap · market cap 5.52%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,351
Businesses Nearby
Explore this area
Business Placement
Demographics for 10314, NY
92,157
Population
33,554
Households
2.7
Avg Household Size
41
Median Age
37%
College-Educated
89%
High-School Grad
13.0 sq mi
ZIP Area
7,089
Density / Sq Mi
$104,655
Median Household Income
$58,769
Median Earnings
$1,726
Median Rent
$665,500
Median Home Value
Market
Vacancy Rate% for Multifamily in Northeast region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Duplex - Legal two-family home on a corner lot, needs renovation.
Where is this duplex located?
The property is located at 245 Garrison Ave Staten Island, NY.
What is the asking price?
The asking price for this property is $799,995.
What are key features of this property?
This property features: Desirable Westerleigh neighborhood location.; Legal two‑family home.; Convenient access to transportation.
