Duplex with Finished
For Sale
$698,000
256 Westervelt Avenue, Staten Island, NY 10301
MULTI_FAMILY - Staten Island, NY
Property Size1,628 SF
Lot Size0.06 Acres
Price / SF$428.75
Days on Market150
Property Features for 256 Westervelt Avenue
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning
R3A
Bedrooms
4
Bathrooms
2
Full bathrooms
2
Rooms
Bedroom 1, Bedroom 4, Bedroom 2, Bedroom 3, Bathroom 1, Bathroom 2
Basement
Finished
Subdivision
St. George
Standard status
Active
Size
1,628 SF
Lot size
0.06 Acres
Taxes and HOA fees
Tax Annual Amount
4917
Amenities
fully finished basement
attic space
Building Details
Year built
1920
Floors in Building
2
Number of units
2
Flooring type
Hardwood
Building materials
Wood Frame
Architectural style
Colonial
Listing Agency:
Momentum Real Estate LLC
(718) 382-0001
Listed By:
Meijuan (Minnie) Lin · License #MJL6058
(718) 382-0001
Added: Mar 28
Changed: Aug 3
Last Checked: Aug 24 at 12:06PM
MLS# 500051
Copyright © 2026 Brooklyn New York Multiple Listing Service. 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.
256 Westervelt Avenue is a well-maintained two-family duplex on a 0.0585-acre lot with 1,628 square feet of space. Built in 1920 in a Colonial style with wood-frame construction, the home includes hardwood flooring and a fully finished basement.
The first-floor unit has 2 bedrooms and 1 full bathroom. The second-floor unit also offers 2 bedrooms and 1 full bathroom, with access to attic space. Both units are set up for comfortable day-to-day living, and the property provides front parking that can accommodate up to 2 cars.
Located in Staten Island, the home is just minutes from the Staten Island Ferry for quick commuting to Manhattan, and it is close to Empire Outlets, with restaurants nearby. The property is zoned R3A.
The first-floor unit has 2 bedrooms and 1 full bathroom. The second-floor unit also offers 2 bedrooms and 1 full bathroom, with access to attic space. Both units are set up for comfortable day-to-day living, and the property provides front parking that can accommodate up to 2 cars.
Located in Staten Island, the home is just minutes from the Staten Island Ferry for quick commuting to Manhattan, and it is close to Empire Outlets, with restaurants nearby. The property is zoned R3A.
Key Highlights
- Fully finished basement in a 1,628 SF duplex
- 2‑bedroom, 1‑bath first‑floor unit plus 2‑bedroom, 1‑bath second‑floor unit
- Second‑floor unit includes access to attic 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
$40,485
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
5.80%
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%
$809,700
$809.7K
Cap Rate 7%
$578,357
$578.4K
Cap Rate 9%
$449,833
$449.8K
Market Conditions
NOI Build-Up for 1,628 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
$60.6K $37.20/SF
− Vacancy
−$2.7K −$1.67/SF
EGI
$57.8K $35.53/SF
− OpEx
−$17.4K −$10.66/SF
NOI
$40.5K $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%
$809,700
Cap Rate 7%
$578,357
Cap Rate 9%
$449,833
Alternative Uses
Best Use
Multifamily LT 5
$578.4K
$506.1K – $674.8K
NOI $40,485 @ 7.0% cap · market cap 5.80%
Second Best
Apartment 5plus
$515.8K
$451.3K – $601.7K
NOI $36,103 @ 7.0% cap · market cap 5.17%
Theoretical Best
Office A
$776.8K
$679.7K – $906.3K
NOI $54,376 @ 7.0% cap · market cap 7.79%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
1,673
Businesses Nearby
Explore this area
Business Placement
Demographics for 10301, NY
41,474
Population
16,631
Households
2.5
Avg Household Size
40
Median Age
38%
College-Educated
88%
High-School Grad
3.8 sq mi
ZIP Area
10,914
Density / Sq Mi
$84,937
Median Household Income
$50,140
Median Earnings
$1,697
Median Rent
$657,000
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-family duplex zoned R3A with finished basement and parking for up to two cars.
Where is this duplex located?
The property is located at 256 Westervelt Avenue Staten Island, NY.
What is the asking price?
The asking price for this property is $698,000.
What are key features of this property?
This property features: Fully finished basement in a 1,628 SF duplex; 2‑bedroom, 1‑bath first‑floor unit plus 2‑bedroom, 1‑bath second‑floor unit; Second‑floor unit includes access to attic space
