Two-Family Home in Great
For Sale
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130 Driggs Street, Staten Island, NY 10308
Detached two-family home with income potential in Great Kills.
Property Size1,200 SF
Lot Size0.09 Acres
Price / SF$831.67
Days on Market104
Property Features for 130 Driggs Street
General Information
Standard status
Active
Size
1,200 SF
Lot size
0.09 Acres
Property subtype
Multifamily
Zoning
R3A
Net Operating Income
$34,925
Building Details
Year Built
1925
Stories
2
Units
2
Listing Agency:
Village Realty of SI Ltd.
Listed By:
Eugene Jaconetti · License #10301204887
Source:
Crexi
Added: May 24
Changed: Sep 2
Last Checked: Sep 2 at 9:28AM
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 Village Realty of SI Ltd.
Investment Insights
Based on property information with market context.
Located in the Great Kills area, this detached two-family home presents a combination of income potential and flexibility. Situated on a 40x100 lot, the property features an oversized driveway with parking for up to 6 vehicles, a detached garage, and cellar access with storage and workshop space. The property includes two apartments, each with two bedrooms and one bathroom, generating $3,575 per month in rental income. Apartment One has an updated kitchen and a finished room in the cellar. Apartment Two offers an opportunity for cosmetic improvements and increased rental income. Both apartments have hook-ups, with additional hook-ups in the cellar. The tenants are cooperative and willing to remain with new leases. The first floor measures 1032 square feet, and the second floor measures approximately 698 square feet. The garage offers future conversion potential. The property is being sold in AS IS CONDITION. It is located near shopping, restaurants, transportation, parks, schools, and other amenities of Great Kills and Staten Island's South Shore.
Key Highlights
- Income‑producing two‑family home generating $3,575 per month.
- Oversized driveway with parking for up to 6 vehicles, plus a detached garage with future conversion potential.
- Located in the desirable Great Kills area, near shopping, restaurants, transportation, parks, and schools.
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
$29,842
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
2.99%
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%
$596,840
$596.8K
Cap Rate 7%
$426,314
$426.3K
Cap Rate 9%
$331,578
$331.6K
Market Conditions
NOI Build-Up for 1,200 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
$44.6K $37.20/SF
− Vacancy
−$2.0K −$1.67/SF
EGI
$42.6K $35.53/SF
− OpEx
−$12.8K −$10.66/SF
NOI
$29.8K $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%
$596,840
Cap Rate 7%
$426,314
Cap Rate 9%
$331,578
Alternative Uses
Best Use
Multifamily LT 5
$426.3K
$373.0K – $497.4K
NOI $29,842 @ 7.0% cap · market cap 2.99%
Second Best
Apartment 5plus
$380.2K
$332.6K – $443.5K
NOI $26,611 @ 7.0% cap · market cap 2.67%
Theoretical Best
Office A
$572.6K
$501.0K – $668.0K
NOI $40,080 @ 7.0% cap · market cap 4.02%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,159
Businesses Nearby
Explore this area
Business Placement
Demographics for 10308, NY
28,198
Population
11,093
Households
2.5
Avg Household Size
44
Median Age
40%
College-Educated
94%
High-School Grad
2.2 sq mi
ZIP Area
12,817
Density / Sq Mi
$122,654
Median Household Income
$67,149
Median Earnings
$1,729
Median Rent
$648,800
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 - Detached two-family home with income potential in Great Kills.
Where is this duplex located?
The property is located at 130 Driggs Street 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 two‑family home generating $3,575 per month.; Oversized driveway with parking for up to 6 vehicles, plus a detached garage with future conversion potential.; Located in the desirable Great Kills area, near shopping, restaurants, transportation, parks, and schools.
