New Construction
New
For Sale
$1,590,000
403 Patterson Ave, Staten Island, NY 10305
Residential Income, Staten Island, NY
Property Size5,523 SF
Lot Size0.14 Acres
Price / SF$287.89
Days on Market7
Property Features for 403 Patterson Ave
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Property condition
Under Construction
Bedrooms
8
Bathrooms
6
Full bathrooms
6
Rooms
Basement, Bathroom 5, Bedroom 3, Bedroom 2, Bedroom 1, Bedroom 7, Bedroom 5, Bedroom 8, Bathroom 1, Bathroom 2, Bedroom 6, Bathroom 3, Bathroom 4, Bathroom 6, Bedroom 4
Parking
8
Parking features
Parking Lot, Driveway
Interior features
Washer/Dryer Hookup
Basement
Finished, Full, Walk-Out Access, Storage Space
Lot features
Back Yard, Near Shops
Elementary school
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Middle school
Call Listing Agent
High school
Contact Agent
Elementary school district
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Middle school district
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High school district
Contact Agent
Standard status
Active
Lot size
0.14 Acres
Taxes and HOA fees
Tax Year
2026
Tax Annual Amount
1
Utilities
Utilities
Cable Available
Sewer type
Public Sewer
Heating system
Hot Water(Heating)
Water source
Public
Amenities
dedicated driveway
rooftop solar panels
front and rear entrances
Building Details
Year built
2026
Number of units
2
Building materials
Frame
Listing Agency:
Royalux Realty LLC
(718) 666-6066
Listed By:
Linying Zheng · License #10401262819
(516) 777-0887
Added: Aug 29
Changed: Sep 4
Last Checked: Sep 4 at 8:06PM
MLS# 1044516
Copyright © 2026 OneKey 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 duplex with two legal dwelling units arranged across three above-ground levels. The residential portion contains 3,682 sq. ft., while total building area measures 5,523 sq. ft. Each dwelling unit includes 4 bedrooms and 3 full bathrooms on the second and third floors. The first floor adds 1,841 sq. ft. of space with front and rear entrances for storage and other uses.
The property sits on a 6,280 sq. ft. lot and includes a dedicated driveway, parking area, rooftop solar panels, washer/dryer hookups, frame construction, and hot-water heating. Public water and public sewer serve the property, with cable available. Located in Staten Island, the residence is minutes from the beach and boardwalk, with parks, dining, shopping, and transportation nearby.
The property sits on a 6,280 sq. ft. lot and includes a dedicated driveway, parking area, rooftop solar panels, washer/dryer hookups, frame construction, and hot-water heating. Public water and public sewer serve the property, with cable available. Located in Staten Island, the residence is minutes from the beach and boardwalk, with parks, dining, shopping, and transportation nearby.
Key Highlights
- Two legal dwelling units with 4 bedrooms and 3 full bathrooms per unit
- 3,682 sq. ft. of residential living area within 5,523 sq. ft. of total building area
- First floor provides 1,841 sq.ft. with front and rear entrances
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
$145,008
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
9.12%
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%
$2,900,160
$2.9M
Cap Rate 7%
$2,071,543
$2.1M
Cap Rate 9%
$1,611,200
$1.6M
Market Conditions
NOI Build-Up for 5,523 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
$225.3K $40.80/SF
− Vacancy
−$18.2K −$3.29/SF
EGI
$207.2K $37.51/SF
− OpEx
−$62.1K −$11.25/SF
NOI
$145.0K $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%
$2,900,160
Cap Rate 7%
$2,071,543
Cap Rate 9%
$1,611,200
Alternative Uses
Best Use
Multifamily LT 5
$2.07M
$1.81M – $2.42M
NOI $145,008 @ 7.0% cap · market cap 9.12%
Second Best
Apartment 5plus
$1.91M
$1.67M – $2.22M
NOI $133,414 @ 7.0% cap · market cap 8.39%
Theoretical Best
Office A
$2.64M
$2.31M – $3.07M
NOI $184,469 @ 7.0% cap · market cap 11.60%
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
1,844
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 legal dwelling units provide four bedrooms and three full bathrooms each across the upper residential levels.
Where is this duplex located?
The property is located at 403 Patterson Ave Staten Island, NY.
What is the asking price?
The asking price for this property is $1,590,000.
What are key features of this property?
This property features: Two legal dwelling units with 4 bedrooms and 3 full bathrooms per unit; 3,682 sq. ft. of residential living area within 5,523 sq. ft. of total building area; First floor provides 1,841 sq.ft. with front and rear entrances
