Two-Family Conversion
For Sale
$629,000
338 Clifton Avenue, Staten Island, NY 10305
Approved conversion plans outline separate first-floor and upper-level residences, with a private backyard and basement storage.
Property Size1,950 SF
Days on Market8
Property Features for 338 Clifton Avenue
General Information
Standard status
Active
Size
1,950 SF
Property subtype
Duplex
Taxes and HOA fees
Annual Taxes
$5,757
Building Details
Building Size
1,950 SF
Year Built
1915
Buildings
1
Listing Agency:
NextHome Prestige
Listed By:
Alexander Levin · License #31LE0945211
(917) 478-0260
Source:
Wonicarealtors
Added: Oct 21
Changed: Oct 25
Last Checked: Oct 27 at 12:56AM
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 NextHome Prestige
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Investment Insights
Based on property information with market context.
A 1915 residence is offered with approved plans for conversion into two homes. The proposed first-floor layout has three bedrooms, two bathrooms, and sliding doors opening to the backyard. A second residence is planned across the second floor and finished attic, with two bedrooms, two bathrooms, and an additional attic den. The basement provides storage space.
The property is approximately five minutes from the Verrazzano-Narrows Bridge. The outdoor area is private and accessible from the first-floor residence.
The property is approximately five minutes from the Verrazzano-Narrows Bridge. The outdoor area is private and accessible from the first-floor residence.
Key Highlights
- Approved plans call for conversion to a two‑family residence
- Proposed first‑floor plan: 3 bedrooms, 2 bathrooms, and sliding doors to the backyard
- Upper duplex spans the second floor and finished attic; proposed plan includes 2 bedrooms, 2 bathrooms, and an attic den
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$47,104
Cap Rate
7.49%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$942,080
$942.1K
Cap Rate 7%
$672,914
$672.9K
Cap Rate 9%
$523,378
$523.4K
Market Conditions
NOI Build-Up for 1,950 SF
Gross rent
$93.6K $48.00/SF
− Vacancy
−$8.0K −$4.08/SF
EGI
$85.6K $43.92/SF
− OpEx
−$38.5K −$19.76/SF
NOI
$47.1K $24.16/SF
Area
ZIP 10305
Vacancy
8.50%
Lease Rate
$48.00 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$942,080
Cap Rate 7%
$672,914
Cap Rate 9%
$523,378
Alternative Uses
Best Use
Apartment 5plus
$672.9K
$588.8K – $785.1K
NOI $47,104 @ 7.0% cap · market cap 7.49%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$930.4K
$814.1K – $1.09M
NOI $65,130 @ 7.0% cap · market cap 10.35%
Zoning and permitted uses should be independently verified with authorities.
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Open Analytics
Location Intelligence
Trade Area within ½ mile
1,066
Businesses Nearby
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Business Placement
Demographics for 10305, NY
44,008
Population
16,850
Households
2.6
Avg Household Size
41
Median Age
32%
College-Educated
85%
High-School Grad
4.0 sq mi
ZIP Area
11,002
Density / Sq Mi
$86,294
Median Household Income
$52,183
Median Earnings
$1,656
Median Rent
$627,200
Median Home Value
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Frequently Asked Questions
What type of property is this?
Residential income property - Approved conversion plans outline separate first-floor and upper-level residences, with a private backyard and basement storage.
Where is this residential income property located?
The property is located at 338 Clifton Avenue Staten Island, NY.
What is the asking price?
The asking price for this property is $629,000.
What are key features of this property?
This property features: Approved plans call for conversion to a two‑family residence; Proposed first‑floor plan: 3 bedrooms, 2 bathrooms, and sliding doors to the backyard; Upper duplex spans the second floor and finished attic; proposed plan includes 2 bedrooms, 2 bathrooms, and an attic den
