Renovated Two-Family
For Sale
$699,888
Pending
229 Pulaski Ave, Staten Island, NY 10303
Separate utilities and a basement support the property’s two-unit configuration.
Property Size1,600 SF
Days on Market313
Property Features for 229 Pulaski Ave
General Information
Standard status
Pending
Size
1,600 SF
Property subtype
Multi-Family
Additional Details
Multifamily Units
2
Building Details
Year Built
1920
Buildings
1
Listing Agency:
International Realty Services
(646) 932-2205
Listed By:
Celia Iervasi · License #30IE1106110
Source:
Statenislandhomelistings
Added: Oct 23, 2025
Changed: Aug 29
Last Checked: Aug 30 at 6:02PM
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 International Realty Services
Investment Insights
Based on property information with market context.
This detached duplex contains two residential units arranged as a three-bedroom apartment over a two-bedroom apartment. The property includes two full bathrooms, a basement, and separate utility systems. Renovation work has been completed, and the building dates to 1920.
Located at 229 Pulaski Ave in Staten Island, the property offers a defined two-family layout for residential income use. Its separate utilities and unit configuration provide distinct operating components within one building.
Located at 229 Pulaski Ave in Staten Island, the property offers a defined two-family layout for residential income use. Its separate utilities and unit configuration provide distinct operating components within one building.
Key Highlights
- Detached two‑family duplex with a three‑bedroom unit over a two‑bedroom unit
- 2 full bathrooms across the property
- Separate utility systems for the two units
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
$39,789
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
5.69%
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%
$795,780
$795.8K
Cap Rate 7%
$568,414
$568.4K
Cap Rate 9%
$442,100
$442.1K
Market Conditions
NOI Build-Up for 1,600 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
$59.5K $37.20/SF
− Vacancy
−$2.7K −$1.67/SF
EGI
$56.8K $35.53/SF
− OpEx
−$17.1K −$10.66/SF
NOI
$39.8K $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%
$795,780
Cap Rate 7%
$568,414
Cap Rate 9%
$442,100
Alternative Uses
Best Use
Multifamily LT 5
$568.4K
$497.4K – $663.2K
NOI $39,789 @ 7.0% cap · market cap 5.69%
Second Best
Apartment 5plus
$506.9K
$443.5K – $591.4K
NOI $35,482 @ 7.0% cap · market cap 5.07%
Theoretical Best
Office A
$763.4K
$668.0K – $890.7K
NOI $53,440 @ 7.0% cap · market cap 7.64%
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
1,568
Businesses Nearby
Explore this area
Business Placement
Demographics for 10303, NY
28,155
Population
9,580
Households
2.9
Avg Household Size
34
Median Age
30%
College-Educated
83%
High-School Grad
3.2 sq mi
ZIP Area
8,798
Density / Sq Mi
$79,429
Median Household Income
$49,072
Median Earnings
$1,520
Median Rent
$457,600
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 - Separate utilities and a basement support the property’s two-unit configuration.
Where is this duplex located?
The property is located at 229 Pulaski Ave Staten Island, NY.
What is the asking price?
The asking price for this property is $699,888.
What are key features of this property?
This property features: Detached two‑family duplex with a three‑bedroom unit over a two‑bedroom unit; 2 full bathrooms across the property; Separate utility systems for the two units
