Updated Two-Family
For Sale
$1,600,000
247 Shotwell Ave, Staten Island, NY 10312
Two-unit property with a finished basement, separate-entry apartment, and substantial outdoor amenities.
Property Size3,516 SF
Lot Size0.21 Acres
Days on Market9
Property Features for 247 Shotwell Ave
General Information
Standard status
Active
Size
3,516 SF
Lot size
0.21 Acres
Property subtype
Multi Family
Site & Location
Road Access
Yes
Public Transit
Yes
Units
Unit Mix
1 x 4BR/1.5BA, 1 x 2BR/1BA
Multifamily Units
2
Taxes and HOA fees
Annual Taxes
$12,216
Amenities
in-ground swimming pool
gazebo
koi pond
deck
Building Details
Building Size
3,516 SF
Year Built
1980
Buildings
1
Stories
3
Construction
stucco
Listing Agency:
GAMA GROUP LLC
(718) 717-7727
Listed By:
Gabriel Lian
(718) 717-7727
Source:
Elliman
Added: Aug 16
Changed: Aug 17
Last Checked: Aug 24 at 8:22AM
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 GAMA GROUP LLC
Investment Insights
Based on property information with market context.
Built in 1980, this stucco duplex includes six bedrooms across two residential units. The main residence offers four bedrooms, one full bathroom, one half bathroom, formal living and dining rooms, and a kitchen. Its finished basement adds a full kitchen, full bathroom, family room, laundry room, and direct backyard access. A separate-entry side apartment provides two bedrooms, one full bathroom, a living room, and a kitchen.
The property occupies a 9,300 sqft lot with a backyard configured for outdoor use, including extensive decking, a gazebo, an in-ground swimming pool, and a koi pond. An oversized driveway and 2+ car garage provide on-site parking and storage. Located at 247 Shotwell Ave in Staten Island, the property is near shopping, dining, parks, schools, major roadways, Staten Island Mall, and express bus service to Manhattan.
The property occupies a 9,300 sqft lot with a backyard configured for outdoor use, including extensive decking, a gazebo, an in-ground swimming pool, and a koi pond. An oversized driveway and 2+ car garage provide on-site parking and storage. Located at 247 Shotwell Ave in Staten Island, the property is near shopping, dining, parks, schools, major roadways, Staten Island Mall, and express bus service to Manhattan.
Key Highlights
- Two‑unit duplex with 6 total bedrooms
- Main residence includes a finished basement with kitchen, bathroom, family room, and laundry room
- Separate‑entry side apartment with 2 bedrooms, 1 full bathroom, living room, and kitchen
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
$86,883
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
5.43%
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%
$1,737,660
$1.7M
Cap Rate 7%
$1,241,186
$1.2M
Cap Rate 9%
$965,367
$965.4K
Market Conditions
NOI Build-Up for 3,516 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
$135.0K $38.40/SF
− Vacancy
−$10.9K −$3.10/SF
EGI
$124.1K $35.30/SF
− OpEx
−$37.2K −$10.59/SF
NOI
$86.9K $24.71/SF
Area
ZIP 10312
Vacancy
8.07%
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%
$1,737,660
Cap Rate 7%
$1,241,186
Cap Rate 9%
$965,367
Alternative Uses
Best Use
Multifamily LT 5
$1.24M
$1.09M – $1.45M
NOI $86,883 @ 7.0% cap · market cap 5.43%
Second Best
Apartment 5plus
$1.09M
$955.5K – $1.27M
NOI $76,439 @ 7.0% cap · market cap 4.78%
Theoretical Best
Office A
$1.68M
$1.47M – $1.96M
NOI $117,435 @ 7.0% cap · market cap 7.34%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
340
Businesses Nearby
Explore this area
Business Placement
Demographics for 10312, NY
61,642
Population
22,547
Households
2.7
Avg Household Size
43
Median Age
41%
College-Educated
92%
High-School Grad
6.9 sq mi
ZIP Area
8,934
Density / Sq Mi
$111,434
Median Household Income
$62,700
Median Earnings
$1,911
Median Rent
$698,900
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 - Two-unit property with a finished basement, separate-entry apartment, and substantial outdoor amenities.
Where is this duplex located?
The property is located at 247 Shotwell Ave Staten Island, NY.
What is the asking price?
The asking price for this property is $1,600,000.
What are key features of this property?
This property features: Two‑unit duplex with 6 total bedrooms; Main residence includes a finished basement with kitchen, bathroom, family room, and laundry room; Separate‑entry side apartment with 2 bedrooms, 1 full bathroom, living room, and kitchen
