Duplex with Updated
For Sale
$1,119,000
15 Melba St, Staten Island, NY 10314
Two-family residence with hardwood floors, private landscaping, and off-street parking.
Property Size2,388 SF
Price / SF$468.59
Days on Market180
Property Features for 15 Melba St
General Information
Standard status
Active
Size
2,388 SF
Property subtype
Multi-Family
Building Details
Year Built
1966
Listing Agency:
Neuhaus Realty, Inc.
(347) 254-1084
Listed By:
Glenn Galati · License #10301214169
Source:
Statenislandhomelistings
Added: Mar 5
Changed: Aug 31
Last Checked: Aug 31 at 5:30PM
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 Neuhaus Realty, Inc.
Investment Insights
Based on property information with market context.
This 2,388-square-foot duplex, built in 1966, includes a three-bedroom main residence and a separate rental apartment. The main unit features solid hardwood flooring, closet space, custom woodwork, and updated kitchen and bathroom finishes. The apartment also has generously sized rooms with a modern kitchen and bathroom. High-quality windows and doors, along with a newer roof and siding, add to the property’s existing improvements. The residence is set on an oversized lot with landscaped private yard areas, front and side driveways, and a garage. It is located at 15 Melba St in Staten Island, near shopping centers, express and city bus service, and an expressway one block away. The property may be delivered vacant.
Key Highlights
- 2,388‑square‑foot two‑family duplex built in 1966
- Main residence includes 3 bedrooms with closet space and custom woodwork
- Separate rental apartment with generously sized rooms, modern kitchen, and bathroom
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
$65,132
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
5.82%
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%
$1,302,640
$1.3M
Cap Rate 7%
$930,457
$930.5K
Cap Rate 9%
$723,689
$723.7K
Market Conditions
NOI Build-Up for 2,388 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
$97.4K $40.80/SF
− Vacancy
−$4.4K −$1.84/SF
EGI
$93.0K $38.96/SF
− OpEx
−$27.9K −$11.69/SF
NOI
$65.1K $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%
$1,302,640
Cap Rate 7%
$930,457
Cap Rate 9%
$723,689
Alternative Uses
Best Use
Multifamily LT 5
$930.5K
$814.2K – $1.09M
NOI $65,132 @ 7.0% cap · market cap 5.82%
Second Best
Apartment 5plus
$862.8K
$754.9K – $1.01M
NOI $60,395 @ 7.0% cap · market cap 5.40%
Theoretical Best
Office A
$1.14M
$997.0K – $1.33M
NOI $79,760 @ 7.0% cap · market cap 7.13%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,298
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
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Frequently Asked Questions
What type of property is this?
Duplex - Two-family residence with hardwood floors, private landscaping, and off-street parking.
Where is this duplex located?
The property is located at 15 Melba St Staten Island, NY.
What is the asking price?
The asking price for this property is $1,119,000.
What are key features of this property?
This property features: 2,388‑square‑foot two‑family duplex built in 1966; Main residence includes 3 bedrooms with closet space and custom woodwork; Separate rental apartment with generously sized rooms, modern kitchen, and bathroom
