Staten Island Income Producing
For Sale
$850,000
203 Corson Avenue, Staten Island, NY 10301
Fully rented duplex near Staten Island Ferry and transportation.
Property Size2,288 SF
Price / SF$371.50
Days on Market381
Property Features for 203 Corson Avenue
General Information
Standard status
Active
Size
2,288 SF
Property subtype
MultiFamily
Zoning
R3 A
Taxes and HOA fees
Annual Taxes
$4,118
Amenities
Eat In, Yard/Deck Access
Full Bath
2
Gas
Hot Water
Formal, Separate
2.00
Unfinished
Full
Units
Aluminum Siding
Building Details
Year Built
1920
Listing Agency:
M&M Homes Inc.
(347) 228-3702
Listed By:
Eun-Sook Kim · License #31KI0913463
(347) 228-3702
Source:
Compass
Added: Aug 9, 2025
Changed: Aug 23
Last Checked: Aug 24 at 12:13PM
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 M&M Homes Inc.
Investment Insights
Based on property information with market context.
This fully rented duplex is an excellent income-producing property. Unit 1 features a spacious three-bedroom layout with an additional sunroom. The eat-in kitchen provides access to the backyard and deck, and includes washer and dryer hook-ups. The unit has been freshly painted and features refinished hardwood floors, along with a new refrigerator and oven. Unit 2 offers four bedrooms, a nice-sized living room, and an eat-in kitchen with deck access. Washer and dryer hook-ups are available. A full-size unfinished basement with a door to the backyard is also included. The property is closely located to the Staten Island Ferry and public transportation. The property size is 2288 square feet.
Key Highlights
- Fully rented property provides excellent income.
- Unit 1: Spacious three bedrooms plus sun room.
- Unit 2: Four bedrooms.
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
$56,898
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
6.69%
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%
$1,137,960
$1.1M
Cap Rate 7%
$812,829
$812.8K
Cap Rate 9%
$632,200
$632.2K
Market Conditions
NOI Build-Up for 2,288 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
$85.1K $37.20/SF
− Vacancy
−$3.8K −$1.67/SF
EGI
$81.3K $35.53/SF
− OpEx
−$24.4K −$10.66/SF
NOI
$56.9K $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%
$1,137,960
Cap Rate 7%
$812,829
Cap Rate 9%
$632,200
Alternative Uses
Best Use
Multifamily LT 5
$812.8K
$711.2K – $948.3K
NOI $56,898 @ 7.0% cap · market cap 6.69%
Second Best
Apartment 5plus
$724.8K
$634.2K – $845.7K
NOI $50,739 @ 7.0% cap · market cap 5.97%
Theoretical Best
Office A
$1.09M
$955.3K – $1.27M
NOI $76,420 @ 7.0% cap · market cap 8.99%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,791
Businesses Nearby
Explore this area
Business Placement
Demographics for 10301, NY
41,474
Population
16,631
Households
2.5
Avg Household Size
40
Median Age
38%
College-Educated
88%
High-School Grad
3.8 sq mi
ZIP Area
10,914
Density / Sq Mi
$84,937
Median Household Income
$50,140
Median Earnings
$1,697
Median Rent
$657,000
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 - Fully rented duplex near Staten Island Ferry and transportation.
Where is this duplex located?
The property is located at 203 Corson Avenue Staten Island, NY.
What is the asking price?
The asking price for this property is $850,000.
What are key features of this property?
This property features: Fully rented property provides excellent income.; Unit 1: Spacious three bedrooms plus sun room.; Unit 2: Four bedrooms.
