Waterfront Duplex with Private
For Sale
$2,488,888
161 Boardwalk Avenue, Staten Island, NY 10312
Legal two-family residence currently arranged as a single-family home with direct bay views and flexible conversion potential.
Property Size4,280 SF
Lot Size0.24 Acres
Days on Market85
Property Features for 161 Boardwalk Avenue
General Information
Standard status
Active
Size
4,280 SF
Total Parking Spaces
2
Lot size
0.24 Acres
Property subtype
Residential Income
Zoning
R-3X
Property Condition
Severity
Repairs Needed
Evidence
TLC and updates
Additional Details
Multifamily Units
2
Taxes and HOA fees
Annual Taxes
$13,144
Amenities
private dock
wood-burning fireplace
wood deck
finished basement with separate entrance
Building Details
Building Size
4,280 SF
Year Built
1989
Stories
2
Units
2
Construction
all-brick
Tenancy
Single
Listing Agency:
Compass Realty Central Inc.
(347) 682-9322
Listed By:
Loubna Abdarazzak
(347) 682-9322
Source:
Michaelfraulo
Added: Jun 7
Changed: Aug 28
Last Checked: Aug 29 at 10:21AM
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 Compass Realty Central Inc.
Investment Insights
Based on property information with market context.
This all-brick duplex property was built in 1989 and is currently arranged as a single-family residence. The home includes four bedrooms, 4.5 bathrooms, soaring ceilings, a two-story foyer, a wood-burning fireplace, and water views from the kitchen, living areas, and bedrooms. A finished basement with separate entrance adds usable space, while the two-car garage supports household parking and storage.
Set on approximately 0.24 acres at 161 Boardwalk Avenue, the property includes a private dock, wood deck, backyard, and direct views across the ocean bay. The legal two-family configuration offers the ability to convert the residence back from its current single-family arrangement. The property is offered as-is and includes an R-3X zoning designation.
Set on approximately 0.24 acres at 161 Boardwalk Avenue, the property includes a private dock, wood deck, backyard, and direct views across the ocean bay. The legal two-family configuration offers the ability to convert the residence back from its current single-family arrangement. The property is offered as-is and includes an R-3X zoning designation.
Key Highlights
- Legal two‑family property currently configured as a single‑family residence
- Private dock with direct ocean bay views
- Four bedrooms and 4.5 bathrooms
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
$105,762
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
4.25%
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%
$2,115,240
$2.1M
Cap Rate 7%
$1,510,886
$1.5M
Cap Rate 9%
$1,175,133
$1.2M
Market Conditions
NOI Build-Up for 4,280 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
$164.4K $38.40/SF
− Vacancy
−$13.3K −$3.10/SF
EGI
$151.1K $35.30/SF
− OpEx
−$45.3K −$10.59/SF
NOI
$105.8K $24.71/SF
Area
ZIP 10312
Vacancy
8.07%
Lease Rate
$38.40 /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%
$2,115,240
Cap Rate 7%
$1,510,886
Cap Rate 9%
$1,175,133
Alternative Uses
Best Use
Multifamily LT 5
$1.51M
$1.32M – $1.76M
NOI $105,762 @ 7.0% cap · market cap 4.25%
Second Best
Apartment 5plus
$1.33M
$1.16M – $1.55M
NOI $93,049 @ 7.0% cap · market cap 3.74%
Theoretical Best
Office A
$2.04M
$1.79M – $2.38M
NOI $142,953 @ 7.0% cap · market cap 5.74%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Single-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
237
Businesses Nearby
Explore this area
Business Placement
Demographics for 10312, NY
61,642
Population
22,547
Households
2.7
Avg Household Size
43
Median Age
41%
College-Educated
92%
High-School Grad
6.9 sq mi
ZIP Area
8,934
Density / Sq Mi
$111,434
Median Household Income
$62,700
Median Earnings
$1,911
Median Rent
$698,900
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 - Legal two-family residence currently arranged as a single-family home with direct bay views and flexible conversion potential.
Where is this duplex located?
The property is located at 161 Boardwalk Avenue Staten Island, NY.
What is the asking price?
The asking price for this property is $2,488,888.
What are key features of this property?
This property features: Legal two‑family property currently configured as a single‑family residence; Private dock with direct ocean bay views; Four bedrooms and 4.5 bathrooms
