Renovated Two-Family High
For Sale
Contact for pricing
Pending
149 Forest Street, Staten Island, NY 10314
Fully renovated 2022 two-family high ranch with 7 bedrooms, 4 baths, and paid-off solar on a corner lot.
Property Size2,880 SF
Lot Size0.14 Acres
Days on Market469
Property Features for 149 Forest Street
General Information
Standard status
Pending
Size
2,880 SF
Lot size
0.14 Acres
Property subtype
Multifamily
Zoning
R-3X
Additional Details
Highway Access
Yes
Multifamily Units
2
Amenities
sunroom
solar panels
private entrances
large backyard
Building Details
Year Built
1970
Year Renovated
2022
Stories
2
Units
1
Construction
high ranch
Tenancy
Multi
Listing Agency:
Re/Max Edge
Listed By:
Chu Chu Chen · License #10401331308
Source:
Crexi
Added: May 30, 2025
Changed: Aug 8
Last Checked: Sep 9 at 3:14PM
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 Re/Max Edge
Investment Insights
Based on property information with market context.
This fully renovated 2022 two-family high ranch offers generous living space and flexible configuration. The home features 7 bedrooms and 4 bathrooms, along with multiple upgrades including a brand-new kitchen with a center island, new flooring, modern bathrooms, LED lighting, new windows, updated stairs, and a sunroom. The roof and heating system are both approximately 5 years old, and the property includes paid-off solar panels.
The first floor includes two bedrooms plus a half bath, a laundry area, and a private legal three-bedroom apartment with its own kitchen, living room, full bath, sunroom, and access to a large backyard. The second floor offers formal living and dining rooms, a brand-new kitchen with an island, and three additional bedrooms with two full baths. Two private entrances support separate access.
Set on a 63x100 corner lot, the property is a strong fit for end-users or investors seeking a turn-key, spacious two-family layout with substantial outdoor space and convenient access to the expressway, shopping, transportation, schools, and houses of worship.
The first floor includes two bedrooms plus a half bath, a laundry area, and a private legal three-bedroom apartment with its own kitchen, living room, full bath, sunroom, and access to a large backyard. The second floor offers formal living and dining rooms, a brand-new kitchen with an island, and three additional bedrooms with two full baths. Two private entrances support separate access.
Set on a 63x100 corner lot, the property is a strong fit for end-users or investors seeking a turn-key, spacious two-family layout with substantial outdoor space and convenient access to the expressway, shopping, transportation, schools, and houses of worship.
Key Highlights
- Fully renovated in 2022 two‑family high ranch with 7 bedrooms and 4 bathrooms
- 63x100 corner lot with large yard and two private entrances
- Approx. 30x48 building size with nearly 3,000 sq ft of living space
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
$78,551
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
6.61%
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%
$1,571,020
$1.6M
Cap Rate 7%
$1,122,157
$1.1M
Cap Rate 9%
$872,789
$872.8K
Market Conditions
NOI Build-Up for 2,880 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
$117.5K $40.80/SF
− Vacancy
−$5.3K −$1.84/SF
EGI
$112.2K $38.96/SF
− OpEx
−$33.7K −$11.69/SF
NOI
$78.6K $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%
$1,571,020
Cap Rate 7%
$1,122,157
Cap Rate 9%
$872,789
Alternative Uses
Best Use
Multifamily LT 5
$1.12M
$981.9K – $1.31M
NOI $78,551 @ 7.0% cap · market cap 6.61%
Second Best
Apartment 5plus
$1.04M
$910.5K – $1.21M
NOI $72,839 @ 7.0% cap · market cap 6.13%
Theoretical Best
Office A
$1.37M
$1.20M – $1.60M
NOI $96,193 @ 7.0% cap · market cap 8.10%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
2
Residential units
Multi-tenant
Tenancy
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
1,263
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
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in Northeast region
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Frequently Asked Questions
What type of property is this?
Duplex - Fully renovated 2022 two-family high ranch with 7 bedrooms, 4 baths, and paid-off solar on a corner lot.
Where is this duplex located?
The property is located at 149 Forest Street Staten Island, NY.
What is the asking price?
The asking price for this property is $1,188,000.
What are key features of this property?
This property features: Fully renovated in 2022 two‑family high ranch with 7 bedrooms and 4 bathrooms; 63x100 corner lot with large yard and two private entrances; Approx. 30x48 building size with nearly 3,000 sq ft of living space
