Three-Unit Multifamily
For Sale
$979,000
217-219 Fisher Avenue, Staten Island, NY 10307
Two structures on one tax lot include renovated apartments and a separately configured residence.
Property Size2,998 SF
Days on Market78
Property Features for 217-219 Fisher Avenue
General Information
Standard status
Active
Size
2,998 SF
Property subtype
Residential Income
Zoning
R3X
Additional Details
Public Transit
Yes
Multifamily Units
3
Taxes and HOA fees
Annual Taxes
$7,072
Building Details
Building Size
2,998 SF
Year Built
1915
Buildings
2
Units
3
Listing Agency:
Robert DeFalco Realty, Inc.
(718) 987-7900
Listed By:
Francis A Shearon · License #10301218348
Source:
Michaelfraulo
Added: Jun 15
Changed: Aug 28
Last Checked: Aug 29 at 10:18AM
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 Robert DeFalco Realty, Inc.
Investment Insights
Based on property information with market context.
This multifamily property contains three units across two structures on one tax lot. The 219 Fisher Avenue building is a two-family dwelling with renovated first-floor space and two-bedroom apartments on both floors. The separate 217 Fisher Avenue residence is a two-story home with two bedrooms and one and a half bathrooms, along with its own heating system and water heater.
Utility arrangements vary by structure. Gas heat at 219 Fisher Avenue is paid by the landlord, while tenants pay electric and cooking gas. Utilities at 217 Fisher Avenue are tenant-paid. The property is zoned R3X and was built in 1915.
Transit access is a notable site feature, with a train station one block in one direction and bus service one block in another. The property also has long-term tenants who maintain their apartments in excellent condition.
Utility arrangements vary by structure. Gas heat at 219 Fisher Avenue is paid by the landlord, while tenants pay electric and cooking gas. Utilities at 217 Fisher Avenue are tenant-paid. The property is zoned R3X and was built in 1915.
Transit access is a notable site feature, with a train station one block in one direction and bus service one block in another. The property also has long-term tenants who maintain their apartments in excellent condition.
Key Highlights
- Three units across 2 structures on 1 tax lot
- 219 Fisher Avenue includes a 2‑family dwelling with 2‑bedroom apartments on both floors
- 217 Fisher Avenue is a separate 2‑story, 2‑bed, 1.5‑bath home
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
$74,555
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
7.62%
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%
$1,491,100
$1.5M
Cap Rate 7%
$1,065,071
$1.1M
Cap Rate 9%
$828,389
$828.4K
Market Conditions
NOI Build-Up for 2,998 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
$111.5K $37.20/SF
− Vacancy
−$5.0K −$1.67/SF
EGI
$106.5K $35.53/SF
− OpEx
−$32.0K −$10.66/SF
NOI
$74.6K $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%
$1,491,100
Cap Rate 7%
$1,065,071
Cap Rate 9%
$828,389
Alternative Uses
Best Use
Multifamily LT 5
$1.07M
$931.9K – $1.24M
NOI $74,555 @ 7.0% cap · market cap 7.62%
Second Best
Apartment 5plus
$949.8K
$831.1K – $1.11M
NOI $66,484 @ 7.0% cap · market cap 6.79%
Theoretical Best
Office A
$1.43M
$1.25M – $1.67M
NOI $100,134 @ 7.0% cap · market cap 10.23%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
3
Residential units
Location Intelligence
Trade Area within ½ mile
840
Businesses Nearby
Explore this area
Business Placement
Demographics for 10307, NY
14,129
Population
5,390
Households
2.6
Avg Household Size
41
Median Age
39%
College-Educated
90%
High-School Grad
1.6 sq mi
ZIP Area
8,831
Density / Sq Mi
$138,807
Median Household Income
$74,211
Median Earnings
$1,618
Median Rent
$799,100
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?
Triplex - Two structures on one tax lot include renovated apartments and a separately configured residence.
Where is this triplex located?
The property is located at 217-219 Fisher Avenue Staten Island, NY.
What is the asking price?
The asking price for this property is $979,000.
What are key features of this property?
This property features: Three units across 2 structures on 1 tax lot; 219 Fisher Avenue includes a 2‑family dwelling with 2‑bedroom apartments on both floors; 217 Fisher Avenue is a separate 2‑story, 2‑bed, 1.5‑bath home
