Two-Family Duplex with Central
For Sale
$799,000
32 Franklin Place, Staten Island, NY 10314
MULTI_FAMILY - State Island, NY
Property Size2,088 SF
Lot Size0.05 Acres
Price / SF$382.66
Days on Market72
Property Features for 32 Franklin Place
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning
R3
Bedrooms
4
Bathrooms
3
Full bathrooms
2
Half bathrooms
1
Rooms
Bedroom 4, Bedroom 2, Bedroom 1, Bedroom 3, Bathroom 2, Bathroom 1, Bathroom 3
Interior features
Washer
Subdivision
Manor Heights
Standard status
Active
Size
2,088 SF
Lot size
0.05 Acres
Taxes and HOA fees
Tax Annual Amount
6458
Amenities
Hardwood flooring
central HVAC
separate utilities
2 entrances
Building Details
Year built
1998
Floors in Building
3
Number of units
2
Listing Agency:
RE/MAX Edge · RE/MAX International
(718) 612-3088
Listed By:
Dazhi (Simon) Su · License #10401312047
(718) 612-3088
Added: Jun 11
Changed: Aug 4
Last Checked: Aug 21 at 5:06PM
MLS# 502223
Copyright © 2026 Brooklyn New York Multiple Listing Service. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
Semi-detached legal two-family duplex with a private driveway in Manor Heights, built in 1998. The upper two stories include a 3-bedroom, 1.5-bath duplex layout over a 1-bedroom unit on the lower level. Interior finishes include hardwood flooring throughout, and the home has central HVAC. Separate utilities service the two units, with 2 entrances for access.
The structure is listed at 2,088 square feet, situated on a 0.0521-acre lot. The house dimensions are 12x58, with a 16x107 lot. Exterior space includes a huge irregular backyard.
Additional interior feature noted is a washer. The property is zoned R3 and is described as move-in ready.
The structure is listed at 2,088 square feet, situated on a 0.0521-acre lot. The house dimensions are 12x58, with a 16x107 lot. Exterior space includes a huge irregular backyard.
Additional interior feature noted is a washer. The property is zoned R3 and is described as move-in ready.
Key Highlights
- Built in 1998 semi‑detached legal two‑family duplex
- Upper 3‑bedroom, 1.5‑bath duplex over 1‑bedroom lower unit
- Central HVAC and hardwood flooring throughout
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
Multi-tenant
Tenancy
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 - Semi-detached two-family duplex with central HVAC, separate utilities, and two entrances, built in 1998 and zoned R3.
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: Built in 1998 semi‑detached legal two‑family duplex; Upper 3‑bedroom, 1.5‑bath duplex over 1‑bedroom lower unit; Central HVAC and hardwood flooring throughout
