Colonial Multifamily
For Sale
$849,900
Pending
309 Maine Ave, Staten Island, NY 10314
Older colonial with dedicated laundry rooms, updated heating equipment, and a detached garage across from Westerleigh Park.
Property Size2,320 SF
Days on Market122
Property Features for 309 Maine Ave
General Information
Standard status
Pending
Size
2,320 SF
Property subtype
Multi-Family
Building Details
Year Built
1920
Listing Agency:
Zaloom Real Estate
Listed By:
Vincent M Zaloom
(917) 539-4798
Source:
Statenislandhomelistings
Added: May 5
Changed: Sep 2
Last Checked: Sep 2 at 6:40PM
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 Zaloom Real Estate
Investment Insights
Based on property information with market context.
This 2,320-square-foot colonial multifamily property was built in 1920 and retains chestnut trim and pine flooring throughout. The unfinished basement contains two laundry rooms, with one serving each floor. Two new heating units and gas hot water support the building’s mechanical systems.
A detached two-car garage, extended driveway, and large yard add practical exterior amenities. The property is located at 309 Maine Ave in Staten Island, directly across from Westerleigh Park.
A detached two-car garage, extended driveway, and large yard add practical exterior amenities. The property is located at 309 Maine Ave in Staten Island, directly across from Westerleigh Park.
Key Highlights
- 2,320‑square‑foot colonial multifamily property built in 1920
- Chestnut trim and pine flooring throughout
- Unfinished basement with 2 laundry rooms, one for each floor
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
$58,676
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
6.90%
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%
$1,173,520
$1.2M
Cap Rate 7%
$838,229
$838.2K
Cap Rate 9%
$651,956
$652.0K
Market Conditions
NOI Build-Up for 2,320 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
$111.4K $48.00/SF
− Vacancy
−$4.7K −$2.02/SF
EGI
$106.7K $45.98/SF
− OpEx
−$48.0K −$20.69/SF
NOI
$58.7K $25.29/SF
Area
ZIP 10314
Vacancy
4.20%
Lease Rate
$48.00 /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%
$1,173,520
Cap Rate 7%
$838,229
Cap Rate 9%
$651,956
Alternative Uses
Best Use
Apartment 5plus
$838.2K
$733.5K – $977.9K
NOI $58,676 @ 7.0% cap · market cap 6.90%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.11M
$968.6K – $1.29M
NOI $77,489 @ 7.0% cap · market cap 9.12%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,392
Businesses Nearby
Explore this area
Business Placement
Demographics for 10314, NY
92,157
Population
33,554
Households
2.7
Avg Household Size
41
Median Age
37%
College-Educated
89%
High-School Grad
13.0 sq mi
ZIP Area
7,089
Density / Sq Mi
$104,655
Median Household Income
$58,769
Median Earnings
$1,726
Median Rent
$665,500
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 - Older colonial with dedicated laundry rooms, updated heating equipment, and a detached garage across from Westerleigh Park.
Where is this multifamily property located?
The property is located at 309 Maine Ave Staten Island, NY.
What is the asking price?
The asking price for this property is $849,900.
What are key features of this property?
This property features: 2,320‑square‑foot colonial multifamily property built in 1920; Chestnut trim and pine flooring throughout; Unfinished basement with 2 laundry rooms, one for each floor
