Dongan Hills Legal Two-Family
For Sale
Contact for pricing
Pending
203 Evergreen Avenue, Staten Island, NY 10305
Spacious two-family home in desirable Dongan Hills neighborhood.
Property Size2,484 SF
Days on Market115
Property Features for 203 Evergreen Avenue
General Information
Standard status
Pending
Size
2,484 SF
Property subtype
Multifamily
Zoning
R3X
Building Details
Year Built
1955
Stories
2
Units
2
Listing Agency:
DiTommaso Real Estate
Listed By:
christine Innamorato · License #40IN1163150
Source:
Crexi
Added: May 14
Changed: Aug 8
Last Checked: Jul 24 at 12:45PM
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 DiTommaso Real Estate
Investment Insights
Based on property information with market context.
This fully detached legal two-family home is situated in the desirable Dongan Hills neighborhood. The property features a three-bedroom unit on the first floor and a two-bedroom unit on the second floor. A full finished basement provides additional living and storage space. The property also includes a detached garage, ample parking, and a nice-sized backyard. The location offers convenient access to the Verrazzano Bridge and public transportation. The first-floor unit includes three bedrooms, a spacious living room, a dining room, a kitchen, a full bath, hardwood floors throughout, and an enclosed sunporch. The second-floor apartment features two large bedrooms, including a master bedroom with a walk-in closet, a full bathroom, a spacious living room, and an eat-in kitchen, as well as a sunporch. Separate utilities for each unit add convenience. The full finished basement includes a summer kitchen, an extra room, and a laundry room. The property size is 2484 square feet.
Key Highlights
- Legal 2‑family home in desirable Dongan Hills.
- Separate utilities for each unit.
- Enjoy a 3‑bedroom unit and a 2‑bedroom unit.
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
$65,218
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
5.44%
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%
$1,304,360
$1.3M
Cap Rate 7%
$931,686
$931.7K
Cap Rate 9%
$724,644
$724.6K
Market Conditions
NOI Build-Up for 2,484 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
$101.3K $40.80/SF
− Vacancy
−$8.2K −$3.29/SF
EGI
$93.2K $37.51/SF
− OpEx
−$28.0K −$11.25/SF
NOI
$65.2K $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%
$1,304,360
Cap Rate 7%
$931,686
Cap Rate 9%
$724,644
Alternative Uses
Best Use
Multifamily LT 5
$931.7K
$815.2K – $1.09M
NOI $65,218 @ 7.0% cap · market cap 5.44%
Second Best
Apartment 5plus
$857.2K
$750.1K – $1.00M
NOI $60,004 @ 7.0% cap · market cap 5.00%
Theoretical Best
Office A
$1.19M
$1.04M – $1.38M
NOI $82,966 @ 7.0% cap · market cap 6.92%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
2,471
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
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Frequently Asked Questions
What type of property is this?
Duplex - Spacious two-family home in desirable Dongan Hills neighborhood.
Where is this duplex located?
The property is located at 203 Evergreen Avenue Staten Island, NY.
What is the asking price?
The asking price for this property is $1,199,000.
What are key features of this property?
This property features: Legal 2‑family home in desirable Dongan Hills.; Separate utilities for each unit.; Enjoy a 3‑bedroom unit and a 2‑bedroom unit.
