Fully Renovated Two-Family
For Sale
Contact for pricing
170 Merrill Avenue, Staten Island, NY 10314
Fully renovated semi-attached two-family residence with solar panels, a new roof, and a backyard swimming pool.
Property Size1,980 SF
Price / SF$502.53
Days on Market131
Property Features for 170 Merrill Avenue
General Information
Standard status
Active
Size
1,980 SF
Total Parking Spaces
3
Property subtype
Multifamily
Zoning
R3X
Additional Details
Multifamily Units
2
Building Details
Year Built
1970
Stories
2
Units
1
Listing Agency:
Hometime Estates LLC
Listed By:
Lee Goldstein · License #New York
(718) 614-3115
Source:
Crexi
Added: May 3
Changed: Aug 8
Last Checked: Jul 30 at 3:49PM
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 Hometime Estates LLC
Investment Insights
Based on property information with market context.
This fully renovated semi-attached two-family home has been updated rooftop to front paving. The main unit includes an entry level with a double coat closet, two versatile rooms (one currently used as a game room with a half-bath and one as a bedroom), plus a laundry area and utility room. The second level offers a combined living and dining area, a kitchen with a skylight, and a generous layout with a master bedroom, two additional bedrooms, and a full bathroom. The second unit is accessed via a side entrance and features a bedroom, a full bathroom, a living room, and an eat-in kitchen.
Exterior improvements include solar panels, a brand-new roof, and new windows, along with a front driveway paved to accommodate up to three vehicles. The backyard includes an in-ground swimming pool and a cabana.
Both units are designed for comfortable day-to-day living, with interior spaces including bedrooms, bathrooms, living areas, and kitchens as described.
Exterior improvements include solar panels, a brand-new roof, and new windows, along with a front driveway paved to accommodate up to three vehicles. The backyard includes an in-ground swimming pool and a cabana.
Both units are designed for comfortable day-to-day living, with interior spaces including bedrooms, bathrooms, living areas, and kitchens as described.
Key Highlights
- Fully renovated semi‑attached two‑family home (year built 1970) with solar panels
- Backyard features an in‑ground swimming pool and a cabana
- Exterior updates include a brand‑new roof, new windows, and front driveway paving for up to 3 vehicles
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
$54,004
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
5.43%
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%
$1,080,080
$1.1M
Cap Rate 7%
$771,486
$771.5K
Cap Rate 9%
$600,044
$600.0K
Market Conditions
NOI Build-Up for 1,980 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
$80.8K $40.80/SF
− Vacancy
−$3.6K −$1.84/SF
EGI
$77.1K $38.96/SF
− OpEx
−$23.1K −$11.69/SF
NOI
$54.0K $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%
$1,080,080
Cap Rate 7%
$771,486
Cap Rate 9%
$600,044
Alternative Uses
Best Use
Multifamily LT 5
$771.5K
$675.1K – $900.1K
NOI $54,004 @ 7.0% cap · market cap 5.43%
Second Best
Apartment 5plus
$715.4K
$626.0K – $834.6K
NOI $50,077 @ 7.0% cap · market cap 5.03%
Theoretical Best
Office A
$944.7K
$826.7K – $1.10M
NOI $66,132 @ 7.0% cap · market cap 6.65%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
1,357
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 semi-attached two-family residence with solar panels, a new roof, and a backyard swimming pool.
Where is this duplex located?
The property is located at 170 Merrill Avenue Staten Island, NY.
What is the asking price?
The asking price for this property is $995,000.
What are key features of this property?
This property features: Fully renovated semi‑attached two‑family home (year built 1970) with solar panels; Backyard features an in‑ground swimming pool and a cabana; Exterior updates include a brand‑new roof, new windows, and front driveway paving for up to 3 vehicles
