Corner Two-Family
For Sale
$1,098,000
380 Elverton Ave, Staten Island, NY 10308
Finished basement and separate-entry ground-level unit add functional space.
Property Size2,244 SF
Lot Size0.10 Acres
Days on Market11
Property Features for 380 Elverton Ave
General Information
Standard status
Active
Size
2,244 SF
Lot size
0.10 Acres
Property subtype
Multi Family
Units
Unit Mix
1 x 3BR/1BA, 1 x 1BR/1BA
Multifamily Units
2
Additional Details
Public Transit
Yes
Taxes and HOA fees
Annual Taxes
$7,678
Amenities
wood deck
above-ground pool
finished basement
Building Details
Building Size
2,244 SF
Year Built
1965
Buildings
1
Stories
2
Listing Agency:
Womcore LLC dba Remax Edge
Listed By:
Xiao (Emma) Zhu
(718) 612-3088
Source:
Elliman
Added: Sep 11
Last Checked: Sep 21 at 7:43AM
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 Womcore LLC dba Remax Edge
Investment Insights
Based on property information with market context.
This corner two-family duplex at 380 Elverton Ave includes 4 bedrooms, 2.5 bathrooms, and a built-in garage. The primary residence has 3 bedrooms, an updated kitchen, hardwood and ceramic tile floors, crown molding, recessed lighting, a skylit full bathroom, and rear-deck access. The ground-level unit has its own side entrance, a living room, bedroom, full bathroom, vinyl flooring, and hardwood cabinetry.
A fully finished basement provides a separate entrance, high ceilings, large windows, recreation space with bar seating, an office, half bath, laundry area, and yard access. The property also includes a wood deck around an above-ground pool. Andersen windows were installed throughout approximately 4 years ago. The home is near the Staten Island Mall, shopping, dining, parks, educational options, the Great Kills SIR station, and the S79 bus to Brooklyn.
A fully finished basement provides a separate entrance, high ceilings, large windows, recreation space with bar seating, an office, half bath, laundry area, and yard access. The property also includes a wood deck around an above-ground pool. Andersen windows were installed throughout approximately 4 years ago. The home is near the Staten Island Mall, shopping, dining, parks, educational options, the Great Kills SIR station, and the S79 bus to Brooklyn.
Key Highlights
- Two‑family layout with 4 bedrooms and 2.5 bathrooms
- 42' x 100' lot with a 26' x 47' building structure
- Fully finished basement with separate entrance, office, half bath, laundry, and recreation 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
$55,804
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
5.08%
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%
$1,116,080
$1.1M
Cap Rate 7%
$797,200
$797.2K
Cap Rate 9%
$620,044
$620.0K
Market Conditions
NOI Build-Up for 2,244 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
$83.5K $37.20/SF
− Vacancy
−$3.8K −$1.67/SF
EGI
$79.7K $35.53/SF
− OpEx
−$23.9K −$10.66/SF
NOI
$55.8K $24.87/SF
Area
Staten Island, NY
Vacancy
4.50%
Lease Rate
$37.20 /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%
$1,116,080
Cap Rate 7%
$797,200
Cap Rate 9%
$620,044
Alternative Uses
Best Use
Multifamily LT 5
$797.2K
$697.6K – $930.1K
NOI $55,804 @ 7.0% cap · market cap 5.08%
Second Best
Apartment 5plus
$710.9K
$622.0K – $829.4K
NOI $49,763 @ 7.0% cap · market cap 4.53%
Theoretical Best
Office A
$1.07M
$936.9K – $1.25M
NOI $74,950 @ 7.0% cap · market cap 6.83%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
716
Businesses Nearby
Explore this area
Business Placement
Demographics for 10308, NY
28,198
Population
11,093
Households
2.5
Avg Household Size
44
Median Age
40%
College-Educated
94%
High-School Grad
2.2 sq mi
ZIP Area
12,817
Density / Sq Mi
$122,654
Median Household Income
$67,149
Median Earnings
$1,729
Median Rent
$648,800
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in Northeast region
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Frequently Asked Questions
What type of property is this?
Duplex - Finished basement and separate-entry ground-level unit add functional space.
Where is this duplex located?
The property is located at 380 Elverton Ave Staten Island, NY.
What is the asking price?
The asking price for this property is $1,098,000.
What are key features of this property?
This property features: Two‑family layout with 4 bedrooms and 2.5 bathrooms; 42' x 100' lot with a 26' x 47' building structure; Fully finished basement with separate entrance, office, half bath, laundry, and recreation room
