Two-Family Semi with
For Sale
$948,000
11 Remsen St, Staten Island, NY 10304
Well-maintained two-family semi includes a renovated eat-in kitchen with granite and stainless appliances plus a legal sunroom.
Property Size2,042 SF
Days on Market45
Property Features for 11 Remsen St
General Information
Standard status
Active
Size
2,042 SF
Property subtype
Multi Family
Additional Details
Multifamily Units
2
Taxes and HOA fees
Annual Taxes
$6,464
Amenities
sunroom extension
finished basement
built-in garage
private backyard
Building Details
Building Size
2,042 SF
Year Built
1975
Stories
3
Listing Agency:
Keller Williams Realty Staten Island
Listed By:
Kristina Patafio
(718) 766-7159
Source:
Elliman
Added: Jul 20
Changed: Aug 8
Last Checked: Sep 1 at 10:14PM
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 Keller Williams Realty Staten Island
Investment Insights
Based on property information with market context.
This well-maintained two-family semi at 11 Remsen St offers a main home with 3 bedrooms and hardwood floors throughout. The home features a new roof, a renovated large eat-in kitchen with granite countertops and stainless steel appliances, and a legal sunroom extension off the kitchen. Additional improvements include a finished basement, built-in garage, and one full bath plus two half baths, along with a private backyard.
The second unit is a one-bedroom apartment. The property is described as being just minutes from the Verrazzano Bridge, and within a short distance to train and bus service.
Overall, the layout supports both owner-occupancy and rental income with a main residence and a separate one-bedroom apartment.
The second unit is a one-bedroom apartment. The property is described as being just minutes from the Verrazzano Bridge, and within a short distance to train and bus service.
Overall, the layout supports both owner-occupancy and rental income with a main residence and a separate one-bedroom apartment.
Key Highlights
- 1975‑built, well‑maintained two‑family semi with main 3‑bedroom home plus a separate 1‑bedroom apartment
- Renovated large eat‑in kitchen with granite countertops and stainless steel appliances
- Legal sunroom extension off the kitchen, plus hardwood floors throughout the main home
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
$50,459
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
5.32%
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%
$1,009,180
$1.0M
Cap Rate 7%
$720,843
$720.8K
Cap Rate 9%
$560,656
$560.7K
Market Conditions
NOI Build-Up for 2,042 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
$78.4K $38.40/SF
− Vacancy
−$6.3K −$3.10/SF
EGI
$72.1K $35.30/SF
− OpEx
−$21.6K −$10.59/SF
NOI
$50.5K $24.71/SF
Area
ZIP 10304
Vacancy
8.07%
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%
$1,009,180
Cap Rate 7%
$720,843
Cap Rate 9%
$560,656
Alternative Uses
Best Use
Multifamily LT 5
$720.8K
$630.7K – $841.0K
NOI $50,459 @ 7.0% cap · market cap 5.32%
Second Best
Apartment 5plus
$660.6K
$578.1K – $770.7K
NOI $46,244 @ 7.0% cap · market cap 4.88%
Theoretical Best
Office A
$974.3K
$852.5K – $1.14M
NOI $68,203 @ 7.0% cap · market cap 7.19%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
1,773
Businesses Nearby
Explore this area
Business Placement
Demographics for 10304, NY
46,944
Population
17,524
Households
2.7
Avg Household Size
38
Median Age
31%
College-Educated
84%
High-School Grad
3.5 sq mi
ZIP Area
13,413
Density / Sq Mi
$71,506
Median Household Income
$41,752
Median Earnings
$1,516
Median Rent
$659,900
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 - Well-maintained two-family semi includes a renovated eat-in kitchen with granite and stainless appliances plus a legal sunroom.
Where is this duplex located?
The property is located at 11 Remsen St Staten Island, NY.
What is the asking price?
The asking price for this property is $948,000.
What are key features of this property?
This property features: 1975‑built, well‑maintained two‑family semi with main 3‑bedroom home plus a separate 1‑bedroom apartment; Renovated large eat‑in kitchen with granite countertops and stainless steel appliances; Legal sunroom extension off the kitchen, plus hardwood floors throughout the main home
