Renovated Duplex with Private
For Sale
$570,000
224 Wiman Avenue, Staten Island, NY 10308
Residential, Staten Island, NY
Property Size1,216 SF
Lot Size0.08 Acres
Price / SF$468.75
Days on Market97
Property Features for 224 Wiman Avenue
General Information
Property type
Residential
Property subtype
Duplex
Zoning
R3-1
Bedrooms
3
Bathrooms
2
Full bathrooms
1
Half bathrooms
1
Rooms
Bathroom 2, Bathroom 1, Bedroom 1, Bedroom 2, Bedroom 3
Parking features
Off Street
Patio and Porch features
Patio
Pool private
1
Interior features
Ceiling Fan(s)
Fencing
Fenced
Appliances
Dishwasher, Microwave, Refrigerator
Lot features
Back Yard
Subdivision
Great Kills
Standard status
Active
APN
55306-0063
Size
1,216 SF
Lot size
0.08 Acres
Taxes and HOA fees
Tax Annual Amount
4972
Utilities
Sewer type
Public Sewer
Heating system
Natural Gas, Forced Air
Building Details
Year built
1930
Floors in Building
2
Building materials
Brick
Architectural style
Colonial
Listing Agency:
Red Door Realty Group
(718) 987-3667
Listed By:
Samantha Conca
(917) 881-2605
Added: Jun 1
Changed: Sep 1
Last Checked: Sep 5 at 2:06AM
MLS# 2603041
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 renovated Colonial duplex at 224 Wiman Avenue provides 1,216 square feet on a 0.0775-acre lot. The 1930 brick property includes three bedrooms and two bathrooms, with an open living area, updated kitchen, contemporary bathroom finishes, and ample closet space. Appliances include a dishwasher, microwave, and refrigerator. Natural gas forced-air heat, public sewer, off-street parking, a patio, fenced grounds, and a private pool add to the physical amenities. The property is identified as R3-1 zoning.
The home is located in Staten Island’s Great Kills area, near Great Kills Park, local shops, restaurants, and public transportation. Its residential setting combines a tree-lined street with access to neighborhood services and transit connections.
The home is located in Staten Island’s Great Kills area, near Great Kills Park, local shops, restaurants, and public transportation. Its residential setting combines a tree-lined street with access to neighborhood services and transit connections.
Key Highlights
- Duplex classified under R3‑1 zoning
- 1,216 square feet on a 0.0775‑acre lot
- Three bedrooms and two bathrooms
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
$30,240
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
5.31%
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%
$604,800
$604.8K
Cap Rate 7%
$432,000
$432.0K
Cap Rate 9%
$336,000
$336.0K
Market Conditions
NOI Build-Up for 1,216 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
$45.2K $37.20/SF
− Vacancy
−$2.0K −$1.67/SF
EGI
$43.2K $35.53/SF
− OpEx
−$13.0K −$10.66/SF
NOI
$30.2K $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%
$604,800
Cap Rate 7%
$432,000
Cap Rate 9%
$336,000
Alternative Uses
Best Use
Multifamily LT 5
$432.0K
$378.0K – $504.0K
NOI $30,240 @ 7.0% cap · market cap 5.31%
Second Best
Apartment 5plus
$385.2K
$337.1K – $449.4K
NOI $26,966 @ 7.0% cap · market cap 4.73%
Theoretical Best
Office A
$580.2K
$507.7K – $676.9K
NOI $40,615 @ 7.0% cap · market cap 7.13%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
691
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?
Duplex - Updated interiors, fenced outdoor space, driveway parking, and public sewer support practical residential use.
Where is this duplex located?
The property is located at 224 Wiman Avenue Staten Island, NY.
What is the asking price?
The asking price for this property is $570,000.
What are key features of this property?
This property features: Duplex classified under R3‑1 zoning; 1,216 square feet on a 0.0775‑acre lot; Three bedrooms and two bathrooms
