Renovated Duplex with
For Sale
$950,000
Pending
228 Slater Boulevard, Staten Island, NY 10305
MULTI_FAMILY - Staten Island, NY
Property Size2,121 SF
Lot Size0.07 Acres
Days on Market276
Property Features for 228 Slater Boulevard
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Zoning
R3-1
Bedrooms
4
Bathrooms
4
Full bathrooms
2
Half bathrooms
1
Rooms
Bathroom 4, Bathroom 1, Bathroom 3, Bedroom 2, Bathroom 2, Bedroom 4, Bathroom 5, Bedroom 3, Bedroom 1
Parking features
Off Street
Security features
Security System
Patio and Porch features
Deck
Lot features
Back Yard
Subdivision
Dongan Hills- Below Hylan
Standard status
Pending
APN
03713-0020
Size
2,121 SF
Lot size
0.07 Acres
Taxes and HOA fees
Tax Annual Amount
6030
Utilities
Sewer type
Public Sewer
Heating system
Hot Water(Heating), Natural Gas
Amenities
fireplace
deck
storage area
Building Details
Year built
1980
Floors in Building
2
Number of units
2
Building materials
Stucco, Vinyl Siding
Listing Agency:
Robert DeFalco Realty, Inc.
(718) 987-7900
Listed By:
Kristina Gershteyn
(718) 987-7900
Added: Nov 4, 2025
Changed: Aug 2
Last Checked: Aug 7 at 10:06PM
MLS# 2506476
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 two-family duplex offers a bright, modern interior with updated windows, recessed lighting, and updated flooring throughout. The home features a spacious main living room with a stylish staircase and an updated kitchen with white cabinetry, sleek countertops, stainless steel appliances, and pendant lighting. A family room includes a stone wood-burning fireplace and sliding doors to a deck overlooking the backyard.
The upstairs level includes three bedrooms and a full bathroom with a glass-enclosed shower, tiled accents, and a double vanity with wood finishes. The ground floor provides a newly renovated one-bedroom apartment. The property also includes a one-car garage and an exterior deck.
Situated on a 0.0714-acre lot with 2,121 square feet of space, the duplex was built in 1980 and uses hot water heating with natural gas. Construction materials include stucco and vinyl siding, and the home is served by public sewer. Off-street parking is available, and the property is zoned R3-1.
The upstairs level includes three bedrooms and a full bathroom with a glass-enclosed shower, tiled accents, and a double vanity with wood finishes. The ground floor provides a newly renovated one-bedroom apartment. The property also includes a one-car garage and an exterior deck.
Situated on a 0.0714-acre lot with 2,121 square feet of space, the duplex was built in 1980 and uses hot water heating with natural gas. Construction materials include stucco and vinyl siding, and the home is served by public sewer. Off-street parking is available, and the property is zoned R3-1.
Key Highlights
- Renovated two‑family duplex with deck overlooking the backyard
- 0.0714‑acre lot with 2,121 SF total area
- Zoned R3‑1
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
$55,687
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
5.86%
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%
$1,113,740
$1.1M
Cap Rate 7%
$795,529
$795.5K
Cap Rate 9%
$618,744
$618.7K
Market Conditions
NOI Build-Up for 2,121 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
$86.5K $40.80/SF
− Vacancy
−$7.0K −$3.29/SF
EGI
$79.6K $37.51/SF
− OpEx
−$23.9K −$11.25/SF
NOI
$55.7K $26.26/SF
Area
ZIP 10305
Vacancy
8.07%
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%
$1,113,740
Cap Rate 7%
$795,529
Cap Rate 9%
$618,744
Alternative Uses
Best Use
Multifamily LT 5
$795.5K
$696.1K – $928.1K
NOI $55,687 @ 7.0% cap · market cap 5.86%
Second Best
Apartment 5plus
$731.9K
$640.4K – $853.9K
NOI $51,235 @ 7.0% cap · market cap 5.39%
Theoretical Best
Office A
$1.01M
$885.5K – $1.18M
NOI $70,842 @ 7.0% cap · market cap 7.46%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
2,015
Businesses Nearby
Explore this area
Business Placement
Demographics for 10305, NY
44,008
Population
16,850
Households
2.6
Avg Household Size
41
Median Age
32%
College-Educated
85%
High-School Grad
4.0 sq mi
ZIP Area
11,002
Density / Sq Mi
$86,294
Median Household Income
$52,183
Median Earnings
$1,656
Median Rent
$627,200
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 - Renovated two-family duplex zoned R3-1 with a deck, off-street parking, and public sewer service in Staten Island.
Where is this duplex located?
The property is located at 228 Slater Boulevard Staten Island, NY.
What is the asking price?
The asking price for this property is $950,000.
What are key features of this property?
This property features: Renovated two‑family duplex with deck overlooking the backyard; 0.0714‑acre lot with 2,121 SF total area; Zoned R3‑1
