Two-Family Center Hall
For Sale
$1,639,900
Pending
1047 Edgegrove Ave, Staten Island, NY 10309
New construction two-family home with gas features, curved staircase, and radiant in-floor heating plus baseboard hot water.
Property Size3,101 SF
Days on Market486
Property Features for 1047 Edgegrove Ave
General Information
Standard status
Pending
Size
3,101 SF
Property subtype
Multi-Family
Additional Details
Multifamily Units
2
Amenities
gas fireplace
custom kitchen
walk in pantry
butlers bar
2nd floor laundry
alarm
hardwood floors
custom molding package
Pella windows
front porch
attached garage
radiant in floor heating
Building Details
Year Built
2025
Construction
center hall colonial
Tenancy
Multi
Listing Agency:
Barbara A. Smith
Listed By:
Barbara Smith · License #10351207568
(718) 667-9100
Source:
Statenislandhomelistings
Added: May 13, 2025
Changed: Sep 9
Last Checked: Sep 9 at 11:02AM
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 Barbara A. Smith
Investment Insights
Based on property information with market context.
This new-construction two-family center hall colonial offers a grand two-story foyer with a curved staircase and custom iron double doors. The main level includes a large custom kitchen opening to a family room with a gas fireplace, along with an oversized island with quartz waterfall countertop, a walk-in pantry, and a butler’s bar. Upgrades include Pella windows, hardwood floors, custom molding, and arched openings.
The layout includes four spacious bedrooms on the upper level, including a master suite with a large walk-in closet and a five-piece bath with double sinks, plus tray ceilings and a second-floor laundry. Heating is supported by a mix of radiant in-floor heating on the first floor and in the baths, along with baseboard hot water.
The exterior features a natural stone and stucco finish, high-hats, and a front porch with an attached garage. The second unit offers flexibility as a studio or one-bedroom option, and the home is described as being in model condition with photos reflecting the model home and time to choose finishes.
The layout includes four spacious bedrooms on the upper level, including a master suite with a large walk-in closet and a five-piece bath with double sinks, plus tray ceilings and a second-floor laundry. Heating is supported by a mix of radiant in-floor heating on the first floor and in the baths, along with baseboard hot water.
The exterior features a natural stone and stucco finish, high-hats, and a front porch with an attached garage. The second unit offers flexibility as a studio or one-bedroom option, and the home is described as being in model condition with photos reflecting the model home and time to choose finishes.
Key Highlights
- New construction 2‑family center hall colonial built in 2025
- Gas features include a gas fireplace in the kitchen‑family room area and gas available in the home
- Grand 2‑story foyer with curved staircase and custom iron double doors
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
$77,116
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
4.70%
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%
$1,542,320
$1.5M
Cap Rate 7%
$1,101,657
$1.1M
Cap Rate 9%
$856,844
$856.8K
Market Conditions
NOI Build-Up for 3,101 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
$115.4K $37.20/SF
− Vacancy
−$5.2K −$1.67/SF
EGI
$110.2K $35.53/SF
− OpEx
−$33.0K −$10.66/SF
NOI
$77.1K $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%
$1,542,320
Cap Rate 7%
$1,101,657
Cap Rate 9%
$856,844
Alternative Uses
Best Use
Multifamily LT 5
$1.10M
$964.0K – $1.29M
NOI $77,116 @ 7.0% cap · market cap 4.70%
Second Best
Apartment 5plus
$982.4K
$859.6K – $1.15M
NOI $68,768 @ 7.0% cap · market cap 4.19%
Theoretical Best
Office A
$1.48M
$1.29M – $1.73M
NOI $103,574 @ 7.0% cap · market cap 6.32%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
2
Residential units
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
356
Businesses Nearby
Explore this area
Business Placement
Demographics for 10309, NY
33,523
Population
12,770
Households
2.6
Avg Household Size
41
Median Age
40%
College-Educated
92%
High-School Grad
7.3 sq mi
ZIP Area
4,592
Density / Sq Mi
$123,638
Median Household Income
$67,348
Median Earnings
$1,907
Median Rent
$745,500
Median Home Value
Market
Vacancy Rate% for Multifamily in Northeast region
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Frequently Asked Questions
What type of property is this?
Duplex - New construction two-family home with gas features, curved staircase, and radiant in-floor heating plus baseboard hot water.
Where is this duplex located?
The property is located at 1047 Edgegrove Ave Staten Island, NY.
What is the asking price?
The asking price for this property is $1,639,900.
What are key features of this property?
This property features: New construction 2‑family center hall colonial built in 2025; Gas features include a gas fireplace in the kitchen‑family room area and gas available in the home; Grand 2‑story foyer with curved staircase and custom iron double doors
