Oversized Two-Family
For Sale
Contact for pricing
28 White Oak Lane, Staten Island, NY 10309
Two-family duplex in need of extensive cosmetic renovation, suited for a handy end user or an investor project.
Property Size2,506 SF
Price / SF$270.95
Days on Market64
Property Features for 28 White Oak Lane
General Information
Standard status
Active
Size
2,506 SF
Property subtype
Multifamily
Zoning
R3-1
Additional Details
Multifamily Units
2
Building Details
Year Built
1999
Stories
3
Units
2
Listing Agency:
SI Premiere Properties
(718) 667-6400
Listed By:
Gregory Diaz · License #10311201987
Source:
Crexi
Added: Jun 21
Changed: Aug 23
Last Checked: Aug 23 at 7:11AM
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 SI Premiere Properties
Investment Insights
Based on property information with market context.
This oversized two-family duplex at 28 White Oak Lane is being offered for sale in need of extensive cosmetic renovations and upgrades. The property offers a two-unit layout designed for residential income use or owner occupancy, with interior and appearance improvements required to bring it up to market-ready condition.
While the home will require work, it presents a project opportunity for buyers who can manage renovations. The seller notes that fully renovated comparable properties have been priced in the range of $850,000 to $900,000, providing a reference point for what updated finishes may support.
The building should appeal to an end user who is handy and comfortable taking on a major upgrade scope, as well as investors seeking a multi-family structure they can reposition through renovations. Buyers can underwrite the purchase based on their intended improvement plan, with the understanding that the current condition requires more than light updates before the units can be fully marketed as renovated residences.
While the home will require work, it presents a project opportunity for buyers who can manage renovations. The seller notes that fully renovated comparable properties have been priced in the range of $850,000 to $900,000, providing a reference point for what updated finishes may support.
The building should appeal to an end user who is handy and comfortable taking on a major upgrade scope, as well as investors seeking a multi-family structure they can reposition through renovations. Buyers can underwrite the purchase based on their intended improvement plan, with the understanding that the current condition requires more than light updates before the units can be fully marketed as renovated residences.
Key Highlights
- Two‑family duplex built in 1999
- In need of extensive cosmetic renovations and upgrades
- Oversized two‑family layout suited for an end user or investor project
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
$62,320
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
9.18%
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%
$1,246,400
$1.2M
Cap Rate 7%
$890,286
$890.3K
Cap Rate 9%
$692,444
$692.4K
Market Conditions
NOI Build-Up for 2,506 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
$93.2K $37.20/SF
− Vacancy
−$4.2K −$1.67/SF
EGI
$89.0K $35.53/SF
− OpEx
−$26.7K −$10.66/SF
NOI
$62.3K $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%
$1,246,400
Cap Rate 7%
$890,286
Cap Rate 9%
$692,444
Alternative Uses
Best Use
Multifamily LT 5
$890.3K
$779.0K – $1.04M
NOI $62,320 @ 7.0% cap · market cap 9.18%
Second Best
Apartment 5plus
$793.9K
$694.7K – $926.2K
NOI $55,573 @ 7.0% cap · market cap 8.18%
Theoretical Best
Office A
$1.20M
$1.05M – $1.40M
NOI $83,701 @ 7.0% cap · market cap 12.33%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
267
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
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Duplex - Two-family duplex in need of extensive cosmetic renovation, suited for a handy end user or an investor project.
Where is this duplex located?
The property is located at 28 White Oak Lane Staten Island, NY.
What is the asking price?
The asking price for this property is $679,000.
What are key features of this property?
This property features: Two‑family duplex built in 1999; In need of extensive cosmetic renovations and upgrades; Oversized two‑family layout suited for an end user or investor project
