Park-Adjacent Split-Level
For Sale
$659,000
3 Clove Way, Staten Island, NY 10301
Split-level duplex with fenced outdoor space, flexible living areas, and convenient access to transportation and local amenities.
Property Size1,260 SF
Days on Market15
Property Features for 3 Clove Way
General Information
Standard status
Active
Size
1,260 SF
Property subtype
Half Duplex
Taxes and HOA fees
Annual Taxes
$5,894
Building Details
Building Size
1,260 SF
Year Built
1986
Listing Agency:
Gateway Arms Realty Corp.
(917) 685-5555
Listed By:
Laura Volsario · License #10301213299
Source:
Wonicarealtors
Added: Aug 10
Changed: Aug 17
Last Checked: Aug 23 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 Gateway Arms Realty Corp.
Investment Insights
Based on property information with market context.
This 1986-built split-level duplex combines a practical interior layout with substantial outdoor space. The residence includes separate living, dining, and family rooms, along with hardwood floors, central air, a granite kitchen, large closets, and two bedrooms with two bathrooms. French doors connect the kitchen to a broad deck and fully fenced backyard, while a gas line supports an outdoor grill setup. A partial basement provides utility and storage space with potential for additional finished use, subject to applicable approvals.
The property sits on a private street adjoining Clove Lake Park, providing a park-facing backyard setting. Off-street parking accommodates two cars, and the location offers access to the expressway, public transportation, shopping, restaurants, parks, golf, and Clove Lake Park.
The property sits on a private street adjoining Clove Lake Park, providing a park-facing backyard setting. Off-street parking accommodates two cars, and the location offers access to the expressway, public transportation, shopping, restaurants, parks, golf, and Clove Lake Park.
Key Highlights
- 2‑bedroom, 2‑bath split‑level duplex built in 1986
- Fully decked backyard directly abuts Clove Lake Park
- Separate living room, dining room, and family room
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
$27,942
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
4.24%
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%
$558,840
$558.8K
Cap Rate 7%
$399,171
$399.2K
Cap Rate 9%
$310,467
$310.5K
Market Conditions
NOI Build-Up for 1,260 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
$52.9K $42.00/SF
− Vacancy
−$2.1K −$1.68/SF
EGI
$50.8K $40.32/SF
− OpEx
−$22.9K −$18.14/SF
NOI
$27.9K $22.18/SF
Area
Staten Island, NY
Vacancy
4.00%
Lease Rate
$42.00 /SF/Yr
Expense Ratio
45.00%
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%
$558,840
Cap Rate 7%
$399,171
Cap Rate 9%
$310,467
Alternative Uses
Best Use
Apartment 5plus
$399.2K
$349.3K – $465.7K
NOI $27,942 @ 7.0% cap · market cap 4.24%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$601.2K
$526.1K – $701.4K
NOI $42,084 @ 7.0% cap · market cap 6.39%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,173
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?
Multifamily property - Split-level duplex with fenced outdoor space, flexible living areas, and convenient access to transportation and local amenities.
Where is this multifamily property located?
The property is located at 3 Clove Way Staten Island, NY.
What is the asking price?
The asking price for this property is $659,000.
What are key features of this property?
This property features: 2‑bedroom, 2‑bath split‑level duplex built in 1986; Fully decked backyard directly abuts Clove Lake Park; Separate living room, dining room, and family room
