Two-Family Duplex with
New
For Sale
$699,999
1504 Castleton Ave, Staten Island, NY 10302
A self-contained ground-floor apartment adds a separate living area to the larger residence.
Property Size2,100 SF
Lot Size0.05 Acres
Days on Market4
Property Features for 1504 Castleton Ave
General Information
Standard status
Active
Size
2,100 SF
Lot size
0.05 Acres
Property subtype
Multi Family
Site & Location
Road Access
Yes
Public Transit
Yes
Units
Unit Mix
1 x 1BR, 1 x 3BR
Multifamily Units
2
Taxes and HOA fees
Annual Taxes
$5,111
Amenities
central air
private driveway
laundry room
Building Details
Building Size
2,100 SF
Year Built
2003
Buildings
1
Stories
2
Listing Agency:
ProBase Real Estate
Listed By:
JiaJie (Kai) Zheng · License #10401377313
(718) 210-2727
Source:
Elliman
Added: Sep 24
Changed: Sep 26
Last Checked: Sep 26 at 9:20AM
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 ProBase Real Estate
Investment Insights
Based on property information with market context.
Built in 2003, this semi-detached duplex pairs a multi-level primary residence with a separate ground-floor apartment. The main unit includes a kitchen, living room, half bath, three bedrooms, and a full bath, along with separate utility and laundry rooms. The apartment has an open kitchen, one bedroom, and a full bath. Central air serves the property, and a private driveway provides off-street parking. The lot measures 22 by 99 feet, with a 14-by-45-foot building footprint.
The property is on Castleton Ave along the S46 bus line, with the S48 route nearby on Forest Ave. It is within School District 31. WalkScore is 79, BikeScore is 50, and TransitScore is 65.
The property is on Castleton Ave along the S46 bus line, with the S48 route nearby on Forest Ave. It is within School District 31. WalkScore is 79, BikeScore is 50, and TransitScore is 65.
Key Highlights
- Semi‑detached two‑family property built in 2003
- Main residence includes three bedrooms and a full bath
- Separate apartment has an open kitchen, bedroom, and full bath
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
$52,223
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
7.46%
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%
$1,044,460
$1.0M
Cap Rate 7%
$746,043
$746.0K
Cap Rate 9%
$580,256
$580.3K
Market Conditions
NOI Build-Up for 2,100 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
$78.1K $37.20/SF
− Vacancy
−$3.5K −$1.67/SF
EGI
$74.6K $35.53/SF
− OpEx
−$22.4K −$10.66/SF
NOI
$52.2K $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%
$1,044,460
Cap Rate 7%
$746,043
Cap Rate 9%
$580,256
Alternative Uses
Best Use
Multifamily LT 5
$746.0K
$652.8K – $870.4K
NOI $52,223 @ 7.0% cap · market cap 7.46%
Second Best
Apartment 5plus
$665.3K
$582.1K – $776.2K
NOI $46,570 @ 7.0% cap · market cap 6.65%
Theoretical Best
Office A
$1.00M
$876.8K – $1.17M
NOI $70,140 @ 7.0% cap · market cap 10.02%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Lease Details
2
Residential units
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
1,517
Businesses Nearby
Explore this area
Business Placement
Demographics for 10302, NY
20,931
Population
6,927
Households
3
Avg Household Size
35
Median Age
29%
College-Educated
85%
High-School Grad
1.2 sq mi
ZIP Area
17,443
Density / Sq Mi
$76,089
Median Household Income
$43,608
Median Earnings
$1,800
Median Rent
$586,300
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Multifamily in Northeast region
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Frequently Asked Questions
What type of property is this?
Duplex - A self-contained ground-floor apartment adds a separate living area to the larger residence.
Where is this duplex located?
The property is located at 1504 Castleton Ave Staten Island, NY.
What is the asking price?
The asking price for this property is $699,999.
What are key features of this property?
This property features: Semi‑detached two‑family property built in 2003; Main residence includes three bedrooms and a full bath; Separate apartment has an open kitchen, bedroom, and full bath
