Solar Powered Duplex Under
For Sale
$1,575,000
Pending
383 Philip Avenue, Staten Island, NY 10312
MULTI_FAMILY - Staten Island, NY
Property Size3,200 SF
Lot Size0.14 Acres
Days on Market206
Property Features for 383 Philip Avenue
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Property condition
Under Construction
Zoning
R3-1
Bedrooms
5
Bathrooms
3
Full bathrooms
1
Half bathrooms
1
Rooms
Bathroom 3, Bathroom 2, Bathroom 4, Bathroom 1, Bedroom 3, Bedroom 4, Bedroom 5, Bedroom 2, Bathroom 5, Bedroom 1
Parking features
Off Street, Open
Interior features
Walk-In Closet(s)
Basement
Full, Finished
Lot features
Back Yard
Subdivision
Annadale
Standard status
Pending
APN
06457-0001
Size
3,200 SF
Lot size
0.14 Acres
Taxes and HOA fees
Tax Annual Amount
14000
Utilities
Sewer type
Public Sewer
Heating system
Electric (Heating), Forced Air
Cooling system
Central Air
Building Details
Year built
2025
Floors in Building
2
Number of units
2
Building materials
Brick, Vinyl Siding
Listing Agency:
Robert DeFalco Realty, Inc.
(718) 987-7900
Listed By:
Laura B Vallone · License #40VA0759232
(917) 880-7818
Added: Feb 16
Changed: Aug 10
Last Checked: Sep 10 at 1:06AM
MLS# 2600824
Copyright © 2026 Staten Island Board of Realtors. 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.
New duplex construction by Savo Brothers in Annandale, NY, offered as an under-construction all-electric residence. The design includes forced-air electric heating and central air conditioning. Interior features include a walk-in closet(s). Construction materials are brick with vinyl siding, and the property includes off-street and open parking. Public sewer is available.
The home is set on a 0.14-acre lot and built in 2025. It also features a 15-panel solar energy system intended to qualify the homeowner for state and property tax rebates.
Zoned R3-1, this duplex is being developed as a modern, energy-efficient home with high-end finishes described in the remarks, including Pella windows, solid oak flooring, and raised panel interior doors with crown moldings.
The home is set on a 0.14-acre lot and built in 2025. It also features a 15-panel solar energy system intended to qualify the homeowner for state and property tax rebates.
Zoned R3-1, this duplex is being developed as a modern, energy-efficient home with high-end finishes described in the remarks, including Pella windows, solid oak flooring, and raised panel interior doors with crown moldings.
Key Highlights
- Under construction duplex with forced‑air electric heat and central air
- 15‑panel solar energy system designed to qualify for state and property tax rebates
- 0.14‑acre lot with brick and vinyl siding construction
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
$79,075
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
5.02%
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%
$1,581,500
$1.6M
Cap Rate 7%
$1,129,643
$1.1M
Cap Rate 9%
$878,611
$878.6K
Market Conditions
NOI Build-Up for 3,200 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
$122.9K $38.40/SF
− Vacancy
−$9.9K −$3.10/SF
EGI
$113.0K $35.30/SF
− OpEx
−$33.9K −$10.59/SF
NOI
$79.1K $24.71/SF
Area
ZIP 10312
Vacancy
8.07%
Lease Rate
$38.40 /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%
$1,581,500
Cap Rate 7%
$1,129,643
Cap Rate 9%
$878,611
Alternative Uses
Best Use
Multifamily LT 5
$1.13M
$988.4K – $1.32M
NOI $79,075 @ 7.0% cap · market cap 5.02%
Second Best
Apartment 5plus
$993.8K
$869.6K – $1.16M
NOI $69,569 @ 7.0% cap · market cap 4.42%
Theoretical Best
Office A
$1.53M
$1.34M – $1.78M
NOI $106,881 @ 7.0% cap · market cap 6.79%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
244
Businesses Nearby
Explore this area
Business Placement
Demographics for 10312, NY
61,642
Population
22,547
Households
2.7
Avg Household Size
43
Median Age
41%
College-Educated
92%
High-School Grad
6.9 sq mi
ZIP Area
8,934
Density / Sq Mi
$111,434
Median Household Income
$62,700
Median Earnings
$1,911
Median Rent
$698,900
Median Home Value
Check the figures for this property
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 - All-electric duplex under construction with central air, forced-air electric heat, and a 15-panel solar energy system.
Where is this duplex located?
The property is located at 383 Philip Avenue Staten Island, NY.
What is the asking price?
The asking price for this property is $1,575,000.
What are key features of this property?
This property features: Under construction duplex with forced‑air electric heat and central air; 15‑panel solar energy system designed to qualify for state and property tax rebates; 0.14‑acre lot with brick and vinyl siding construction
