Spacious Two-Family
For Sale
Contact for pricing
Pending
40 Minna Street, Staten Island, NY 10304
Two oversized apartments, finished basement, large yard in Dongan Hills.
Property Size2,132 SF
Days on Market114
Property Features for 40 Minna Street
General Information
Standard status
Pending
Size
2,132 SF
Property subtype
Multifamily
Zoning
R3X
Building Details
Year Built
1955
Stories
2
Units
2
Listing Agency:
Homes R US Realty Of NY Inc
Listed By:
Gennady (Gary) Papirov · License #NY
(917) 856-2012
Source:
Crexi
Added: May 14
Changed: Aug 8
Last Checked: Jul 24 at 9:45AM
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 Homes R US Realty Of NY Inc
Investment Insights
Based on property information with market context.
Located on a tree-lined street in Dongan Hills, this two-family home features two oversized two-bedroom apartments. The property includes a full-finished basement and a large private backyard. The house is well maintained and in good move-in condition, featuring hardwood floors under the carpets, generous room sizes, and natural light throughout. The property is suitable for extended families, investors, or buyers seeking rental income. The property is located minutes from the Verrazano Bridge, highway, parks, beaches, schools, shopping and public transportation. The property size is 2132 square feet.
Key Highlights
- Prime Dongan Hills location on a gorgeous tree‑lined street
- Two oversized 2‑bedroom apartments, ideal for extended families or rental income
- Full‑finished basement and large private backyard
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
$52,683
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
5.33%
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%
$1,053,660
$1.1M
Cap Rate 7%
$752,614
$752.6K
Cap Rate 9%
$585,367
$585.4K
Market Conditions
NOI Build-Up for 2,132 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
$81.9K $38.40/SF
− Vacancy
−$6.6K −$3.10/SF
EGI
$75.3K $35.30/SF
− OpEx
−$22.6K −$10.59/SF
NOI
$52.7K $24.71/SF
Area
ZIP 10304
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%
$1,053,660
Cap Rate 7%
$752,614
Cap Rate 9%
$585,367
Alternative Uses
Best Use
Multifamily LT 5
$752.6K
$658.5K – $878.1K
NOI $52,683 @ 7.0% cap · market cap 5.33%
Second Best
Apartment 5plus
$689.7K
$603.5K – $804.7K
NOI $48,282 @ 7.0% cap · market cap 4.89%
Theoretical Best
Office A
$1.02M
$890.1K – $1.19M
NOI $71,209 @ 7.0% cap · market cap 7.21%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,773
Businesses Nearby
Explore this area
Business Placement
Demographics for 10304, NY
46,944
Population
17,524
Households
2.7
Avg Household Size
38
Median Age
31%
College-Educated
84%
High-School Grad
3.5 sq mi
ZIP Area
13,413
Density / Sq Mi
$71,506
Median Household Income
$41,752
Median Earnings
$1,516
Median Rent
$659,900
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 - Two oversized apartments, finished basement, large yard in Dongan Hills.
Where is this duplex located?
The property is located at 40 Minna Street Staten Island, NY.
What is the asking price?
The asking price for this property is $988,000.
What are key features of this property?
This property features: Prime Dongan Hills location on a gorgeous tree‑lined street; Two oversized 2‑bedroom apartments, ideal for extended families or rental income; Full‑finished basement and large private backyard
