Building Details

Year Built 1966

Listing Agency: Neuhaus Realty, Inc.

Listed By: Glenn Galati · License #10301214169 Show Phone

Source: Statenislandhomelistings

Added: Mar 10 Changed: Oct 11 Last Checked: Oct 16 at 9:28AM

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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.

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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 / Yr

$65,132

Cap Rate

5.93%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$1,302,640 $1.3M

Cap Rate 7%

$930,457 $930.5K

Cap Rate 9%

$723,689 $723.7K

Is this asking price fair?

Market Conditions

NOI Build-Up for 2,388 SF

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 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 (±1% cap)

NOI $65,132 @ 7.0% cap · market cap 5.93%

Second Best

Apartment 5plus

$862.8K

$754.9K – $1.01M (±1% cap)

NOI $60,395 @ 7.0% cap · market cap 5.50%

Theoretical Best

Office A

$1.14M

$997.0K – $1.33M (±1% cap)

NOI $79,760 @ 7.0% cap · market cap 7.26%

Zoning and permitted uses should be independently verified with authorities. How Realmo checks its estimates

Property Analytics

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Current Use

Duplexes

Suggested Use

Top Pick Real Estate Agency Hair Salon Auto Repair Shop Big Box & Wholesale Store Building Supply Hotel & Motel

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

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

4% 2022

4.6% 2023

5.3% 2024

5.6% 2025

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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 $1,099,000.

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