New Construction Duplex with Finished
For Sale
$1,238,888
278 Morrison Ave, Staten Island, NY 10310
Two three-bedroom residences include a finished basement and allow select finish choices before scheduled completion.
Property Size2,229 SF
Price / SF$555.80
Days on Market86
Property Features for 278 Morrison Ave
General Information
Standard status
Active
Size
2,229 SF
Property subtype
Multi-Family
Units
Unit Mix
2 x 3BR
Multifamily Units
2
Building Details
Year Built
2026
Buildings
1
Listing Agency:
American Homes Group
(732) 289-3900
Listed By:
Maurice Molcho · License #10301216355
Source:
Statenislandhomelistings
Added: Jun 6
Changed: Aug 30
Last Checked: Aug 30 at 11:34AM
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 American Homes Group
Investment Insights
Based on property information with market context.
Located at 278 Morrison Avenue in Staten Island, this duplex is planned as a new 2026 construction with a 6-over-6 configuration. The property includes two three-bedroom residences, creating a two-family layout with separate living spaces and a fully finished basement. Select finishes may be customized by the buyer during the remaining construction process.
The residence is scheduled for delivery in October 2026. Its 2,229 property-size measurement and two-unit arrangement provide a substantial residential income property format, while the basement adds additional finished space within the overall design.
The residence is scheduled for delivery in October 2026. Its 2,229 property-size measurement and two-unit arrangement provide a substantial residential income property format, while the basement adds additional finished space within the overall design.
Key Highlights
- New construction scheduled for 2026
- Two three‑bedroom units in a two‑family configuration
- 6‑over‑6 layout
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
$55,431
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
4.47%
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%
$1,108,620
$1.1M
Cap Rate 7%
$791,871
$791.9K
Cap Rate 9%
$615,900
$615.9K
Market Conditions
NOI Build-Up for 2,229 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
$82.9K $37.20/SF
− Vacancy
−$3.7K −$1.67/SF
EGI
$79.2K $35.53/SF
− OpEx
−$23.8K −$10.66/SF
NOI
$55.4K $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%
$1,108,620
Cap Rate 7%
$791,871
Cap Rate 9%
$615,900
Alternative Uses
Best Use
Multifamily LT 5
$791.9K
$692.9K – $923.9K
NOI $55,431 @ 7.0% cap · market cap 4.47%
Second Best
Apartment 5plus
$706.1K
$617.9K – $823.8K
NOI $49,430 @ 7.0% cap · market cap 3.99%
Theoretical Best
Office A
$1.06M
$930.6K – $1.24M
NOI $74,449 @ 7.0% cap · market cap 6.01%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
1,793
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
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 three-bedroom residences include a finished basement and allow select finish choices before scheduled completion.
Where is this duplex located?
The property is located at 278 Morrison Ave Staten Island, NY.
What is the asking price?
The asking price for this property is $1,238,888.
What are key features of this property?
This property features: New construction scheduled for 2026; Two three‑bedroom units in a two‑family configuration; 6‑over‑6 layout
