Two-Family Residential Income
For Sale
$779,000
Pending
24 Caroline St, Staten Island, NY 10310
Two separate units with updated kitchens, separate utilities, ample parking, and a private yard near major highways.
Property Size1,500 SF
Days on Market145
Property Features for 24 Caroline St
General Information
Standard status
Pending
Size
1,500 SF
Property subtype
Multi-Family
Additional Details
Highway Access
Yes
Multifamily Units
2
Building Details
Year Built
2003
Listing Agency:
Ashford Homes LLC
Listed By:
Njoek Kong Tjon · License #10401380276
(929) 364-1301
Source:
Statenislandhomelistings
Added: Apr 18
Changed: Sep 8
Last Checked: Aug 25 at 7:55AM
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 Ashford Homes LLC
Investment Insights
Based on property information with market context.
This spacious two-family home offers two distinct living units with bright, well-proportioned interiors. Each unit features updated kitchens and comfortable bedrooms, providing flexible options for owner-occupancy or renting. The property also includes separate utilities, which can support independent tenant operations, along with ample parking and a private yard.
Located at 24 Caroline Street on Staten Island, the home is described as just minutes from major highways. It also provides access to public transportation and nearby shopping and dining, supporting convenient day-to-day commuting and errands.
For buyers looking to occupy one unit while renting the other, the layout and separate utilities are designed to accommodate that model.
Located at 24 Caroline Street on Staten Island, the home is described as just minutes from major highways. It also provides access to public transportation and nearby shopping and dining, supporting convenient day-to-day commuting and errands.
For buyers looking to occupy one unit while renting the other, the layout and separate utilities are designed to accommodate that model.
Key Highlights
- Built in 2003, two‑family home with two separate units
- Updated kitchens in both units
- Separate utilities for each unit
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
$37,302
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
4.79%
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%
$746,040
$746.0K
Cap Rate 7%
$532,886
$532.9K
Cap Rate 9%
$414,467
$414.5K
Market Conditions
NOI Build-Up for 1,500 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
$55.8K $37.20/SF
− Vacancy
−$2.5K −$1.67/SF
EGI
$53.3K $35.53/SF
− OpEx
−$16.0K −$10.66/SF
NOI
$37.3K $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%
$746,040
Cap Rate 7%
$532,886
Cap Rate 9%
$414,467
Alternative Uses
Best Use
Multifamily LT 5
$532.9K
$466.3K – $621.7K
NOI $37,302 @ 7.0% cap · market cap 4.79%
Second Best
Apartment 5plus
$475.2K
$415.8K – $554.4K
NOI $33,264 @ 7.0% cap · market cap 4.27%
Theoretical Best
Office A
$715.7K
$626.3K – $835.0K
NOI $50,100 @ 7.0% cap · market cap 6.43%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Unlock full access to Insights
Subscribe to Realmo Intelligence
Open Analytics
Current Use
Lease Details
2
Residential units
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
1,785
Businesses Nearby
Explore this area
Business Placement
Demographics for 10310, NY
26,667
Population
9,909
Households
2.7
Avg Household Size
37
Median Age
31%
College-Educated
88%
High-School Grad
1.8 sq mi
ZIP Area
14,815
Density / Sq Mi
$106,118
Median Household Income
$57,861
Median Earnings
$1,638
Median Rent
$623,300
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Multifamily in Northeast region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Duplex - Two separate units with updated kitchens, separate utilities, ample parking, and a private yard near major highways.
Where is this duplex located?
The property is located at 24 Caroline St Staten Island, NY.
What is the asking price?
The asking price for this property is $779,000.
What are key features of this property?
This property features: Built in 2003, two‑family home with two separate units; Updated kitchens in both units; Separate utilities for each unit
