Renovated Two-Family
For Sale
Contact for pricing
2011 Clove Road, Staten Island, NY 10304
Detached duplex with separate electric meters, private outdoor areas, garage access, and laundry facilities in both residences.
Property Size1,368 SF
Price / SF$723.68
Days on Market29
Property Features for 2011 Clove Road
General Information
Standard status
Active
Size
1,368 SF
Property subtype
Multifamily
Zoning
R3-2
Site & Location
Highway Access
Yes
Public Transit
Yes
Utilities to Site
Yes
Units
Unit Mix
1 x 3BR, 1 x 2BR
Multifamily Units
2
Amenities
garage
backyard
balcony
washer and dryer
Building Details
Year Built
1910
Buildings
1
Stories
2
Units
1
Listing Agency:
Tiger Realty
Listed By:
Qi Ping Chen · License #10401332252
Source:
Crexi
Added: Jul 28
Changed: Aug 10
Last Checked: Aug 24 at 11:46PM
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 Tiger Realty
Investment Insights
Based on property information with market context.
Built in 1910, this detached duplex contains two renovated residences totaling 1,368 square feet. The lower unit includes three bedrooms, a living room, laundry appliances, basement access, a backyard, and a garage. Upstairs, the two-bedroom residence provides a living room, its own washer and dryer, and a large balcony. Separate electric meters serve the two units, and the property is zoned R3-2.
The property is near the Verrazzano Bridge, with direct Brooklyn service available via the S53 bus. Its two-unit layout, distinct utility metering, and combination of indoor and outdoor features create a practical residential income configuration.
The property is near the Verrazzano Bridge, with direct Brooklyn service available via the S53 bus. Its two-unit layout, distinct utility metering, and combination of indoor and outdoor features create a practical residential income configuration.
Key Highlights
- Detached two‑family property with 1,368 square feet
- Renovated two‑unit layout with separate electric meters
- First‑floor unit offers 3 bedrooms, basement access, backyard, and garage
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
$33,804
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
3.41%
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%
$676,080
$676.1K
Cap Rate 7%
$482,914
$482.9K
Cap Rate 9%
$375,600
$375.6K
Market Conditions
NOI Build-Up for 1,368 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
$52.5K $38.40/SF
− Vacancy
−$4.2K −$3.10/SF
EGI
$48.3K $35.30/SF
− OpEx
−$14.5K −$10.59/SF
NOI
$33.8K $24.71/SF
Area
ZIP 10304
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%
$676,080
Cap Rate 7%
$482,914
Cap Rate 9%
$375,600
Alternative Uses
Best Use
Multifamily LT 5
$482.9K
$422.6K – $563.4K
NOI $33,804 @ 7.0% cap · market cap 3.41%
Second Best
Apartment 5plus
$442.6K
$387.3K – $516.3K
NOI $30,980 @ 7.0% cap · market cap 3.13%
Theoretical Best
Office A
$652.7K
$571.2K – $761.5K
NOI $45,692 @ 7.0% cap · market cap 4.62%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Yes
Highway access
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
1,093
Businesses Nearby
Explore this area
Business Placement
Demographics for 10304, NY
46,944
Population
17,524
Households
2.7
Avg Household Size
38
Median Age
31%
College-Educated
84%
High-School Grad
3.5 sq mi
ZIP Area
13,413
Density / Sq Mi
$71,506
Median Household Income
$41,752
Median Earnings
$1,516
Median Rent
$659,900
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 - Detached duplex with separate electric meters, private outdoor areas, garage access, and laundry facilities in both residences.
Where is this duplex located?
The property is located at 2011 Clove Road Staten Island, NY.
What is the asking price?
The asking price for this property is $990,000.
What are key features of this property?
This property features: Detached two‑family property with 1,368 square feet; Renovated two‑unit layout with separate electric meters; First‑floor unit offers 3 bedrooms, basement access, backyard, and garage
