Duplex With Private Deck
For Sale
$850,000
203 Corson Avenue, Staten Island, NY 10301
MULTI_FAMILY - Staten Island, NY
Property Size2,288 SF
Lot Size0.06 Acres
Price / SF$371.50
Days on Market202
Property Features for 203 Corson Avenue
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Zoning
R3 A
Bedrooms
7
Bathrooms
4
Full bathrooms
2
Rooms
Bathroom 2, Bedroom 1, Bedroom 7, Bathroom 4, Bathroom 1, Bedroom 6, Bathroom 3, Bedroom 4, Bedroom 2, Bedroom 3, Bedroom 5
Parking features
On Street
Patio and Porch features
Deck
Fencing
Fenced
Basement
Full, Unfinished
Lot features
Front Yard, Back Yard
Subdivision
New Brighton
Standard status
Active
APN
00036-0141
Size
2,288 SF
Lot size
0.06 Acres
Taxes and HOA fees
Tax Annual Amount
4118
Utilities
Sewer type
Public Sewer
Heating system
Natural Gas, Hot Water(Heating)
Building Details
Year built
1920
Floors in Building
2
Number of units
2
Building materials
Aluminum Siding
Listing Agency:
M&M Homes Inc.
(718) 966-2100
Listed By:
Eun-Sook Kim · License #31KI0913463
(347) 228-3702
Added: Feb 3
Changed: Aug 2
Last Checked: Aug 24 at 6:06PM
MLS# 2600640
Copyright © 2026 Staten Island Board of Realtors. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This duplex offers two fully rented residences with updated interior finishes and multiple outdoor access points. Unit 1 features three bedrooms plus an extra sun room, an eat-in kitchen with door to the back yard and deck, washer and dryer hookups, freshly painted interiors, and refinished hardwood floors. Unit 2 offers four bedrooms, a sizable living room, and an eat-in kitchen with door to the deck, along with washer and dryer hookups. Both units connect to a back-yard and deck area, and the property includes a fenced yard. A full-size unfinished basement with a door to the back yard adds flexible storage or work space.
Constructed in 1920 with aluminum siding, the home is heated with natural gas hot water systems and served by public sewer. Parking is available on-street.
The building is closely located to the Staten Island Ferry and public transportation, supporting tenant convenience and day-to-day commuting.
Constructed in 1920 with aluminum siding, the home is heated with natural gas hot water systems and served by public sewer. Parking is available on-street.
The building is closely located to the Staten Island Ferry and public transportation, supporting tenant convenience and day-to-day commuting.
Key Highlights
- Two fully rented units with deck access and washer/dryer hookups
- Unit 1: three bedrooms plus extra sun room; eat‑in kitchen opens to back yard and deck
- Unit 2: four bedrooms; eat‑in kitchen opens to the deck; washer/dryer hookups
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
Lease Details
100%
Occupancy
Multi-tenant
Tenancy
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 - Two fully rented units with deck access, washer and dryer hookups, and fenced yard features on Corson Avenue.
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: Two fully rented units with deck access and washer/dryer hookups; Unit 1: three bedrooms plus extra sun room; eat‑in kitchen opens to back yard and deck; Unit 2: four bedrooms; eat‑in kitchen opens to the deck; washer/dryer hookups
