Two-Family Bi-Level
For Sale
$708,000
Pending
178 Cedar Ave, Staten Island, NY 10305
Semi-attached residential income property with two apartments, a finished basement, and a built-in garage.
Property Size1,375 SF
Days on Market243
Property Features for 178 Cedar Ave
General Information
Standard status
Pending
Size
1,375 SF
Property subtype
Multi-Family
Units
Unit Mix
1 x 1BR/1BA, 1 x 2BR/1BA
Multifamily Units
2
Additional Details
Highway Access
Yes
Building Details
Year Built
1988
Listing Agency:
Neuhaus Realty, Inc.
Listed By:
Gaetano Marasa · License #10301215761
(732) 946-2911
Source:
Statenislandhomelistings
Added: Jan 4
Changed: Sep 2
Last Checked: Sep 2 at 6:42PM
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 1988-built duplex is configured as two bi-level apartments within a semi-attached residence. The lower apartment includes one bedroom and one bathroom, with its own side entry at ground level. The upper residence provides two bedrooms, one bathroom, an eat-in kitchen, and a living room. A built-in garage adds on-site vehicle storage.
The finished basement includes a full bathroom, studio-style layout, and separate side access to the yard, creating additional functional space within the property. Located at 178 Cedar Ave in Staten Island, the property is near shopping, transportation, and the VZ Bridge. The source information also states that flood insurance is not required.
The finished basement includes a full bathroom, studio-style layout, and separate side access to the yard, creating additional functional space within the property. Located at 178 Cedar Ave in Staten Island, the property is near shopping, transportation, and the VZ Bridge. The source information also states that flood insurance is not required.
Key Highlights
- Two‑family duplex with separate one‑bedroom and two‑bedroom bi‑level apartments
- Finished basement with full bathroom, studio‑style layout, and separate yard access
- Built‑in garage at ground level
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
$36,101
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
5.10%
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%
$722,020
$722.0K
Cap Rate 7%
$515,729
$515.7K
Cap Rate 9%
$401,122
$401.1K
Market Conditions
NOI Build-Up for 1,375 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
$56.1K $40.80/SF
− Vacancy
−$4.5K −$3.29/SF
EGI
$51.6K $37.51/SF
− OpEx
−$15.5K −$11.25/SF
NOI
$36.1K $26.26/SF
Area
ZIP 10305
Vacancy
8.07%
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%
$722,020
Cap Rate 7%
$515,729
Cap Rate 9%
$401,122
Alternative Uses
Best Use
Multifamily LT 5
$515.7K
$451.3K – $601.7K
NOI $36,101 @ 7.0% cap · market cap 5.10%
Second Best
Apartment 5plus
$474.5K
$415.2K – $553.6K
NOI $33,215 @ 7.0% cap · market cap 4.69%
Theoretical Best
Office A
$656.1K
$574.1K – $765.4K
NOI $45,925 @ 7.0% cap · market cap 6.49%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
711
Businesses Nearby
Explore this area
Business Placement
Demographics for 10305, NY
44,008
Population
16,850
Households
2.6
Avg Household Size
41
Median Age
32%
College-Educated
85%
High-School Grad
4.0 sq mi
ZIP Area
11,002
Density / Sq Mi
$86,294
Median Household Income
$52,183
Median Earnings
$1,656
Median Rent
$627,200
Median Home Value
Market
Vacancy Rate% for Multifamily in Northeast region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Duplex - Semi-attached residential income property with two apartments, a finished basement, and a built-in garage.
Where is this duplex located?
The property is located at 178 Cedar Ave Staten Island, NY.
What is the asking price?
The asking price for this property is $708,000.
What are key features of this property?
This property features: Two‑family duplex with separate one‑bedroom and two‑bedroom bi‑level apartments; Finished basement with full bathroom, studio‑style layout, and separate yard access; Built‑in garage at ground level
