New Two-Story Multifamily
For Sale
$1,099,000
24 Harris Ln, Staten Island, NY 10309
Open-concept interiors, a finished lower level, private yard, and dedicated parking support flexible everyday use.
Property Size1,560 SF
Price / SF$704.49
Days on Market192
Property Features for 24 Harris Ln
General Information
Standard status
Active
Size
1,560 SF
Total Parking Spaces
2
Property subtype
Multi-Family
Site & Location
Highway Access
Yes
Public Transit
Yes
Additional Details
Multifamily Units
1
Building Details
Year Built
2024
Buildings
1
Stories
2
Listing Agency:
Ashford Homes LLC
Listed By:
Raymond Ng · License #10491211929
(929) 364-1301
Source:
Statenislandhomelistings
Added: Feb 22
Changed: Sep 2
Last Checked: Sep 2 at 6:40PM
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.
Completed in 2024, this two-story semi-detached multifamily property combines an open main level with thoughtfully arranged living space. The first floor includes a dining area, powder room, kitchen, and living room, with access to a deck, stairs, and private yard. The kitchen features custom cabinetry, premium appliances, and upgraded finishes. Radiant-heated wood-look tile, high ceilings, and hardwood flooring are included throughout the home.
The upper level contains a primary suite with vaulted ceilings, two walk-in closets, and an en-suite bathroom, along with two additional bedrooms, a full bath, and laundry room. A full-height finished attic provides storage. The lower level offers 8-foot ceilings, a full bath, a second washer and dryer, and a separate entrance. Exterior features include a two-car parking pad, private driveway, landscaped yard, covered porch, and stone-accented siding. The property is near schools, the S74 bus stop, grocery stores, and major roadways.
The upper level contains a primary suite with vaulted ceilings, two walk-in closets, and an en-suite bathroom, along with two additional bedrooms, a full bath, and laundry room. A full-height finished attic provides storage. The lower level offers 8-foot ceilings, a full bath, a second washer and dryer, and a separate entrance. Exterior features include a two-car parking pad, private driveway, landscaped yard, covered porch, and stone-accented siding. The property is near schools, the S74 bus stop, grocery stores, and major roadways.
Key Highlights
- 2024 construction with two‑story semi‑detached design
- Community includes 12 residences
- 1,560 square feet of property size
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
$34,595
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
3.15%
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%
$691,900
$691.9K
Cap Rate 7%
$494,214
$494.2K
Cap Rate 9%
$384,389
$384.4K
Market Conditions
NOI Build-Up for 1,560 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
$65.5K $42.00/SF
− Vacancy
−$2.6K −$1.68/SF
EGI
$62.9K $40.32/SF
− OpEx
−$28.3K −$18.14/SF
NOI
$34.6K $22.18/SF
Area
Staten Island, NY
Vacancy
4.00%
Lease Rate
$42.00 /SF/Yr
Expense Ratio
45.00%
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%
$691,900
Cap Rate 7%
$494,214
Cap Rate 9%
$384,389
Alternative Uses
Best Use
Apartment 5plus
$494.2K
$432.4K – $576.6K
NOI $34,595 @ 7.0% cap · market cap 3.15%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$744.3K
$651.3K – $868.4K
NOI $52,104 @ 7.0% cap · market cap 4.74%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
1
Residential units
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
500
Businesses Nearby
Explore this area
Business Placement
Demographics for 10309, NY
33,523
Population
12,770
Households
2.6
Avg Household Size
41
Median Age
40%
College-Educated
92%
High-School Grad
7.3 sq mi
ZIP Area
4,592
Density / Sq Mi
$123,638
Median Household Income
$67,348
Median Earnings
$1,907
Median Rent
$745,500
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?
Multifamily property - Open-concept interiors, a finished lower level, private yard, and dedicated parking support flexible everyday use.
Where is this multifamily property located?
The property is located at 24 Harris Ln Staten Island, NY.
What is the asking price?
The asking price for this property is $1,099,000.
What are key features of this property?
This property features: 2024 construction with two‑story semi‑detached design; Community includes 12 residences; 1,560 square feet of property size
