Two-Family Duplex with
For Sale
$869,000
24 Willow Lane, Staten Island, NY 10306
Residential Income, Staten Island, NY
Property Size2,142 SF
Lot Size0.05 Acres
Price / SF$405.70
Days on Market11
Property Features for 24 Willow Lane
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Zoning
R3-2
Bedrooms
4
Bathrooms
3
Full bathrooms
2
Half bathrooms
1
Rooms
Bathroom 3, Bathroom 2, Bedroom 4, Bathroom 1, Bedroom 1, Bedroom 3, Bedroom 2
Parking features
Assigned
Patio and Porch features
Patio, Deck
Interior features
Ceiling Fan(s)
Fencing
Chain Link
Lot features
Back Yard
Subdivision
Bay Terrace
Standard status
Active
APN
04645-0079
Size
2,142 SF
Lot size
0.05 Acres
Taxes and HOA fees
Tax Annual Amount
8052
HOA Fee
$115 Annually
Utilities
Sewer type
Public Sewer
Heating system
Hot Water(Heating), Natural Gas
Cooling system
Central Air
Amenities
yard/deck
Building Details
Year built
1997
Floors in Building
1
Number of units
2
Building materials
Vinyl Siding
Architectural style
Colonial, Contemporary
Listing Agency:
Tom Crimmins Realty, Ltd.
(718) 370-3200
Listed By:
Bingling Jiang
(917) 288-5257
Added: Sep 11
Changed: Sep 20
Last Checked: Sep 21 at 7:06PM
MLS# 2605148
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 semi-attached duplex in Staten Island contains two residential units within a 2142-square-foot property built in 1997. The primary residence has 3 bedrooms, 1.5 baths, an eat-in kitchen, and access to a yard and deck. A private side entrance serves the second unit, which includes 1 bedroom and 1 full bath. The property also features a garage, an assigned additional parking space, vinyl siding, central air, hot-water heating, and natural gas service.
Located in the South Bay Terrace community at 24 Willow Lane, the property is near shopping and public transportation. Public sewer service, chain-link fencing, a patio, and a roof approximately 5 years old add to the property's existing improvements. R3-2 zoning supports its duplex classification.
Located in the South Bay Terrace community at 24 Willow Lane, the property is near shopping and public transportation. Public sewer service, chain-link fencing, a patio, and a roof approximately 5 years old add to the property's existing improvements. R3-2 zoning supports its duplex classification.
Key Highlights
- Two residential units: 3 bedrooms and 1.5 baths in the main unit; 1 bedroom and 1 full bath in the second
- 2142 square feet on a 0.0535‑acre lot
- Garage plus an assigned additional parking space
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
$54,410
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
6.26%
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%
$1,088,200
$1.1M
Cap Rate 7%
$777,286
$777.3K
Cap Rate 9%
$604,556
$604.6K
Market Conditions
NOI Build-Up for 2,142 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
$82.3K $38.40/SF
− Vacancy
−$4.5K −$2.11/SF
EGI
$77.7K $36.29/SF
− OpEx
−$23.3K −$10.89/SF
NOI
$54.4K $25.40/SF
Area
ZIP 10306
Vacancy
5.50%
Lease Rate
$38.40 /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%
$1,088,200
Cap Rate 7%
$777,286
Cap Rate 9%
$604,556
Alternative Uses
Best Use
Multifamily LT 5
$777.3K
$680.1K – $906.8K
NOI $54,410 @ 7.0% cap · market cap 6.26%
Second Best
Apartment 5plus
$690.7K
$604.4K – $805.8K
NOI $48,349 @ 7.0% cap · market cap 5.56%
Theoretical Best
Office A
$1.02M
$894.3K – $1.19M
NOI $71,543 @ 7.0% cap · market cap 8.23%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
724
Businesses Nearby
Explore this area
Business Placement
Demographics for 10306, NY
57,919
Population
21,299
Households
2.7
Avg Household Size
43
Median Age
34%
College-Educated
88%
High-School Grad
7.2 sq mi
ZIP Area
8,044
Density / Sq Mi
$97,746
Median Household Income
$54,052
Median Earnings
$1,743
Median Rent
$675,400
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in Northeast region
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Frequently Asked Questions
What type of property is this?
Duplex - Semi-attached layout offers separate entrances, outdoor space, central air, and R3-2 zoning.
Where is this duplex located?
The property is located at 24 Willow Lane Staten Island, NY.
What is the asking price?
The asking price for this property is $869,000.
What are key features of this property?
This property features: Two residential units: 3 bedrooms and 1.5 baths in the main unit; 1 bedroom and 1 full bath in the second; 2142 square feet on a 0.0535‑acre lot; Garage plus an assigned additional parking space
