Semi-Detached Two-Family
For Sale
Contact for pricing
32 Franklin Place, Staten Island, NY 10314
Legal two-family duplex with private driveway, separate utilities, hardwood floors, and central HVAC.
Property Size2,088 SF
Price / SF$382.66
Days on Market64
Property Features for 32 Franklin Place
General Information
Standard status
Active
Size
2,088 SF
Property subtype
Multifamily
Zoning
R3
Additional Details
Multifamily Units
2
Building Details
Year Built
1998
Stories
3
Units
2
Listing Agency:
Re/Max Edge
(718) 612-3088
Listed By:
Dazhi Su · License #10401312047
Source:
Crexi
Added: Jun 12
Changed: Aug 7
Last Checked: Aug 13 at 2:41PM
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 Re/Max Edge
Investment Insights
Based on property information with market context.
Built in 1998, this semi-detached legal two-family duplex offers a private driveway and a flexible, move-in-ready setup. The upper residence spans two stories with three bedrooms and 1.5 baths, while the lower level features a one-bedroom unit. Hardwood flooring runs throughout, complemented by central HVAC for comfortable year-round use. Both units have separate utilities and access, with two entrances providing practical day-to-day convenience. A huge, irregular backyard adds valuable outdoor space.
Located in Manor Heights on Staten Island, the property is described as being close to many amenities, making it appealing for owner-occupants and tenants who want straightforward access to daily needs.
With two distinct unit layouts—3-bedroom/1.5-bath above and a 1-bedroom below—this property can work well for households seeking rental income alongside personal living space, or for investors looking for a legal two-family configuration. The combination of separate utilities, multiple entrances, and central climate control supports privacy and operational ease for both units.
Located in Manor Heights on Staten Island, the property is described as being close to many amenities, making it appealing for owner-occupants and tenants who want straightforward access to daily needs.
With two distinct unit layouts—3-bedroom/1.5-bath above and a 1-bedroom below—this property can work well for households seeking rental income alongside personal living space, or for investors looking for a legal two-family configuration. The combination of separate utilities, multiple entrances, and central climate control supports privacy and operational ease for both units.
Key Highlights
- Legal 2‑family semi‑detached duplex built in 1998 with private driveway
- Upper unit: 3 bedrooms and 1.5 baths; lower unit: 1 bedroom
- Hardwood flooring throughout with central HVAC
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
$56,950
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
7.13%
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%
$1,139,000
$1.1M
Cap Rate 7%
$813,571
$813.6K
Cap Rate 9%
$632,778
$632.8K
Market Conditions
NOI Build-Up for 2,088 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
$85.2K $40.80/SF
− Vacancy
−$3.8K −$1.84/SF
EGI
$81.4K $38.96/SF
− OpEx
−$24.4K −$11.69/SF
NOI
$56.9K $27.27/SF
Area
ZIP 10314
Vacancy
4.50%
Lease Rate
$40.80 /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%
$1,139,000
Cap Rate 7%
$813,571
Cap Rate 9%
$632,778
Alternative Uses
Best Use
Multifamily LT 5
$813.6K
$711.9K – $949.2K
NOI $56,950 @ 7.0% cap · market cap 7.13%
Second Best
Apartment 5plus
$754.4K
$660.1K – $880.1K
NOI $52,808 @ 7.0% cap · market cap 6.61%
Theoretical Best
Office A
$996.3K
$871.8K – $1.16M
NOI $69,740 @ 7.0% cap · market cap 8.73%
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
1,159
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?
Duplex - Legal two-family duplex with private driveway, separate utilities, hardwood floors, and central HVAC.
Where is this duplex located?
The property is located at 32 Franklin Place Staten Island, NY.
What is the asking price?
The asking price for this property is $799,000.
What are key features of this property?
This property features: Legal 2‑family semi‑detached duplex built in 1998 with private driveway; Upper unit: 3 bedrooms and 1.5 baths; lower unit: 1 bedroom; Hardwood flooring throughout with central HVAC
