Two-Family Home with Unfinished
For Sale
$999,999
217 Willard Avenue, Staten Island, NY 10314
Two-family property built in 1925 with an unfinished basement and an additional bathroom for extra flexibility.
Property Size1,997 SF
Days on Market55
Property Features for 217 Willard Avenue
General Information
Standard status
Active
Size
1,997 SF
Property subtype
Duplex
Taxes and HOA fees
Annual Taxes
$7,097
Building Details
Building Size
1,997 SF
Year Built
1925
Tenancy
Multi
Listing Agency:
Triolo Realty Group, Inc.
Listed By:
Melissa Cosentino
(347) 563-7968
Source:
Wonicarealtors
Added: Jul 25
Changed: Sep 17
Last Checked: Sep 17 at 4:08AM
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 Triolo Realty Group, Inc.
Investment Insights
Based on property information with market context.
This two-family home on the upper/lower configuration offers an open, entertaining-friendly layout in the main unit and a separate second apartment for extended family or rental use. The upper unit features an open floor plan with a kitchen that includes granite countertops, plus a custom built-in wall surrounding the TV. It also has three spacious bedrooms and a full bath with a classic clawfoot tub and an oversized vanity with double sinks.
The home also includes a full unfinished basement with an additional bathroom, providing flexible space for future finishing or other household needs. The second apartment includes an eat-in kitchen, a combined living/dining area, and two bedrooms.
Built in 1925, the property combines two distinct living spaces with basement utility that can support additional functionality over time.
The home also includes a full unfinished basement with an additional bathroom, providing flexible space for future finishing or other household needs. The second apartment includes an eat-in kitchen, a combined living/dining area, and two bedrooms.
Built in 1925, the property combines two distinct living spaces with basement utility that can support additional functionality over time.
Key Highlights
- Built in 1925 two‑family home
- Upper unit open floor plan with granite countertop kitchen
- Classic clawfoot tub in the upper full bath with double‑sink vanity
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
$54,468
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
5.45%
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%
$1,089,360
$1.1M
Cap Rate 7%
$778,114
$778.1K
Cap Rate 9%
$605,200
$605.2K
Market Conditions
NOI Build-Up for 1,997 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
$81.5K $40.80/SF
− Vacancy
−$3.7K −$1.84/SF
EGI
$77.8K $38.96/SF
− OpEx
−$23.3K −$11.69/SF
NOI
$54.5K $27.27/SF
Area
ZIP 10314
Vacancy
4.50%
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%
$1,089,360
Cap Rate 7%
$778,114
Cap Rate 9%
$605,200
Alternative Uses
Best Use
Multifamily LT 5
$778.1K
$680.9K – $907.8K
NOI $54,468 @ 7.0% cap · market cap 5.45%
Second Best
Apartment 5plus
$721.5K
$631.3K – $841.8K
NOI $50,507 @ 7.0% cap · market cap 5.05%
Theoretical Best
Office A
$952.9K
$833.8K – $1.11M
NOI $66,700 @ 7.0% cap · market cap 6.67%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Lease Details
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
1,629
Businesses Nearby
Explore this area
Business Placement
Demographics for 10314, NY
92,157
Population
33,554
Households
2.7
Avg Household Size
41
Median Age
37%
College-Educated
89%
High-School Grad
13.0 sq mi
ZIP Area
7,089
Density / Sq Mi
$104,655
Median Household Income
$58,769
Median Earnings
$1,726
Median Rent
$665,500
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in Northeast region
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Frequently Asked Questions
What type of property is this?
Duplex - Two-family property built in 1925 with an unfinished basement and an additional bathroom for extra flexibility.
Where is this duplex located?
The property is located at 217 Willard Avenue Staten Island, NY.
What is the asking price?
The asking price for this property is $999,999.
What are key features of this property?
This property features: Built in 1925 two‑family home; Upper unit open floor plan with granite countertop kitchen; Classic clawfoot tub in the upper full bath with double‑sink vanity
