Renovated Multifamily
For Sale
$739,900
Pending
21 Lindenwood Rd, Staten Island, NY 10308
Updated multifamily property with solar generation, modernized kitchen, and recently replaced major building systems.
Property Size1,284 SF
Days on Market143
Property Features for 21 Lindenwood Rd
General Information
Standard status
Pending
Size
1,284 SF
Property subtype
Multi-Family
Building Details
Year Built
1945
Year Renovated
2007
Listing Agency:
Reliance Realty One
Listed By:
Tsun Ming "Calvin" Lau · License #10301216684
(917) 332-8987
Source:
Statenislandhomelistings
Added: Apr 14
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 Reliance Realty One
Investment Insights
Based on property information with market context.
This multifamily property at 21 Lindenwood Rd in Staten Island was renovated from top to bottom in 2007. The kitchen received a further update in 2020, adding contemporary cabinetry, countertops, and appliances. The property also includes an 18-panel solar system, with 12 panels positioned at the rear and 6 at the front.
Major system updates include architectural roof shingles installed in October 2022, a water heater replaced in 2021, and a high-efficiency central heating system installed in 2016. Built in 1945, the property combines an older original construction date with documented renovations and mechanical improvements.
Major system updates include architectural roof shingles installed in October 2022, a water heater replaced in 2021, and a high-efficiency central heating system installed in 2016. Built in 1945, the property combines an older original construction date with documented renovations and mechanical improvements.
Key Highlights
- Top‑to‑bottom renovation completed in 2007
- Kitchen updated in 2020 with contemporary cabinetry, countertops, and appliances
- 18‑panel solar system: 12 panels at the rear and 6 at the front
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
$28,474
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
3.85%
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%
$569,480
$569.5K
Cap Rate 7%
$406,771
$406.8K
Cap Rate 9%
$316,378
$316.4K
Market Conditions
NOI Build-Up for 1,284 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
$53.9K $42.00/SF
− Vacancy
−$2.2K −$1.68/SF
EGI
$51.8K $40.32/SF
− OpEx
−$23.3K −$18.14/SF
NOI
$28.5K $22.18/SF
Area
Staten Island, NY
Vacancy
4.00%
Lease Rate
$42.00 /SF/Yr
Expense Ratio
45.00%
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%
$569,480
Cap Rate 7%
$406,771
Cap Rate 9%
$316,378
Alternative Uses
Best Use
Apartment 5plus
$406.8K
$355.9K – $474.6K
NOI $28,474 @ 7.0% cap · market cap 3.85%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$612.7K
$536.1K – $714.8K
NOI $42,886 @ 7.0% cap · market cap 5.80%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,237
Businesses Nearby
Explore this area
Business Placement
Demographics for 10308, NY
28,198
Population
11,093
Households
2.5
Avg Household Size
44
Median Age
40%
College-Educated
94%
High-School Grad
2.2 sq mi
ZIP Area
12,817
Density / Sq Mi
$122,654
Median Household Income
$67,149
Median Earnings
$1,729
Median Rent
$648,800
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?
Multifamily property - Updated multifamily property with solar generation, modernized kitchen, and recently replaced major building systems.
Where is this multifamily property located?
The property is located at 21 Lindenwood Rd Staten Island, NY.
What is the asking price?
The asking price for this property is $739,900.
What are key features of this property?
This property features: Top‑to‑bottom renovation completed in 2007; Kitchen updated in 2020 with contemporary cabinetry, countertops, and appliances; 18‑panel solar system: 12 panels at the rear and 6 at the front
