New-Construction Duplex with Rooftop
New
For Sale
$1,150,000
401 Patterson Ave, Staten Island, NY 10305
Residential Income, Staten Island, NY
Property Size3,450 SF
Lot Size0.07 Acres
Price / SF$333.33
Days on Market6
Property Features for 401 Patterson Ave
General Information
Property type
Residential Multi Family
Property subtype
Other
Property condition
Under Construction
Bedrooms
6
Bathrooms
4
Full bathrooms
4
Rooms
Bathroom 1, Bathroom 4, Bedroom 3, Bedroom 4, Bedroom 1, Bedroom 6, Bathroom 3, Bedroom 5, Bathroom 2, Bedroom 2
Subdivision
Midland Beach
Standard status
Active
Size
3,450 SF
Lot size
0.07 Acres
Amenities
private driveway
rooftop solar panels
in-unit laundry
Building Details
Year built
2026
Floors in Building
3
Listing Agency:
B SQUARE REALTY
(718) 939-8388
Listed By:
Zewei Li · License #10401315712
(516) 777-0887
Added: Aug 28
Changed: Sep 2
Last Checked: Sep 2 at 2:06PM
MLS# 11956114
Copyright © 2026 My State MLS. 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.
Under construction as a semi-attached duplex, this three-level residence is planned with approximately 3,450 square feet of building area and about 2,250 square feet of livable space. The configuration includes two residences, each with 3 bedrooms and 2 full bathrooms, for a combined total of 6 bedrooms and 4 full bathrooms. The main unit includes in-unit laundry, its own heating system, 11-foot ceilings, and a double-height living room. The third-floor unit also features 11-foot ceilings, while the lower level offers approximately 1,250 square feet and 9-foot ceilings.
The property includes a private driveway, rooftop solar panels, and approximately 3,000 square feet of land. It is located near the beach and boardwalk, with parks, dining, and transportation nearby. Completion is estimated for late 2026, and certain finishes may remain customizable during construction, subject to progress and approval.
The property includes a private driveway, rooftop solar panels, and approximately 3,000 square feet of land. It is located near the beach and boardwalk, with parks, dining, and transportation nearby. Completion is estimated for late 2026, and certain finishes may remain customizable during construction, subject to progress and approval.
Key Highlights
- Two‑residence duplex with 6 bedrooms and 4 full bathrooms total
- Approximately 3,450 square feet of building area on approximately 3,000 square feet of land
- Each residence is planned with 3 bedrooms and 2 full bathrooms
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
$90,580
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
7.88%
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%
$1,811,600
$1.8M
Cap Rate 7%
$1,294,000
$1.3M
Cap Rate 9%
$1,006,444
$1.0M
Market Conditions
NOI Build-Up for 3,450 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
$140.8K $40.80/SF
− Vacancy
−$11.4K −$3.29/SF
EGI
$129.4K $37.51/SF
− OpEx
−$38.8K −$11.25/SF
NOI
$90.6K $26.26/SF
Area
ZIP 10305
Vacancy
8.07%
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%
$1,811,600
Cap Rate 7%
$1,294,000
Cap Rate 9%
$1,006,444
Alternative Uses
Best Use
Multifamily LT 5
$1.29M
$1.13M – $1.51M
NOI $90,580 @ 7.0% cap · market cap 7.88%
Second Best
Apartment 5plus
$1.19M
$1.04M – $1.39M
NOI $83,338 @ 7.0% cap · market cap 7.25%
Theoretical Best
Office A
$1.65M
$1.44M – $1.92M
NOI $115,231 @ 7.0% cap · market cap 10.02%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
1,810
Businesses Nearby
Explore this area
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
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 separate three-bedroom residences with private parking, high ceilings, and energy-efficient new construction.
Where is this duplex located?
The property is located at 401 Patterson Ave Staten Island, NY.
What is the asking price?
The asking price for this property is $1,150,000.
What are key features of this property?
This property features: Two‑residence duplex with 6 bedrooms and 4 full bathrooms total; Approximately 3,450 square feet of building area on approximately 3,000 square feet of land; Each residence is planned with 3 bedrooms and 2 full bathrooms
