Colonial Two-Family
For Sale
$999,999
217 Willard Avenue, Staten Island, NY 10314
MULTI_FAMILY - Colonial - Staten Island, NY
Property Size1,997 SF
Lot Size0.07 Acres
Price / SF$500.75
Days on Market138
Property Features for 217 Willard Avenue
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Zoning
R3X
Bedrooms
5
Bathrooms
3
Full bathrooms
2
Rooms
Bedroom 3, Bedroom 4, Bathroom 1, Bathroom 3, Bedroom 5, Bedroom 1, Bathroom 2, Bedroom 2
Parking features
Off Street, On Street
Patio and Porch features
Patio, Deck
Basement
Full, Unfinished
Lot features
Front Yard, Back Yard
Subdivision
Westerleigh
Standard status
Active
APN
00431-0005
Size
1,997 SF
Lot size
0.07 Acres
Taxes and HOA fees
Tax Annual Amount
7097
Utilities
Sewer type
Public Sewer
Heating system
Natural Gas, Hot Water(Heating)
Cooling system
Central Air
Building Details
Year built
1925
Floors in Building
2
Number of units
1
Building materials
Aluminum Siding
Architectural style
Colonial
Listing Agency:
Triolo Realty Group, Inc.
(718) 844-5414
Listed By:
Melissa Cosentino
(917) 836-1594
Added: Apr 25
Changed: Aug 2
Last Checked: Sep 9 at 6:06PM
MLS# 2602290
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 Colonial-style two-family duplex offers flexible living and income potential with an upper (main) unit and a second apartment. The upper unit features an open floor plan with a kitchen, three bedrooms, and a full bath with a clawfoot tub and an oversized vanity with double sinks. The second apartment includes an eat-in kitchen, a combined living/dining area, and two bedrooms. Both units are supported by a full unfinished basement with an additional bathroom.
Set on a 0.0689-acre lot at 217 Willard Avenue in Westerleigh on Staten Island (Richmond County), the home is built with aluminum siding and dates to 1925. It is heated with natural gas hot water and cooled with central air. Parking is available both off street and on street, and outdoor space includes a patio and deck.
The property is connected to public sewer service and is configured for straightforward multi-tenant occupancy within R3X zoning.
Set on a 0.0689-acre lot at 217 Willard Avenue in Westerleigh on Staten Island (Richmond County), the home is built with aluminum siding and dates to 1925. It is heated with natural gas hot water and cooled with central air. Parking is available both off street and on street, and outdoor space includes a patio and deck.
The property is connected to public sewer service and is configured for straightforward multi-tenant occupancy within R3X zoning.
Key Highlights
- R3X zoned two‑family (duplex) at 217 Willard Avenue in Westerleigh, Staten Island
- 0.0689‑acre lot with patio and deck
- Full unfinished basement with an additional bathroom
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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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-story duplex in R3X zoning with central air, off- and on-street parking, patio and deck, and a full unfinished basement.
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: R3X zoned two‑family (duplex) at 217 Willard Avenue in Westerleigh, Staten Island; 0.0689‑acre lot with patio and deck; Full unfinished basement with an additional bathroom
