New-Construction Two-Family
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 Market3
Property Features for 403 Patterson Ave
General Information
Property type
Residential Multi Family
Property subtype
Other
Property condition
Under Construction
Zoning description
Residential
Bedrooms
8
Bathrooms
6
Full bathrooms
6
Rooms
Bedroom 2, Bathroom 1, Bedroom 1, Bathroom 4, Bedroom 6, Bedroom 5, Bedroom 4, Bathroom 3, Bedroom 7, Bathroom 6, Bedroom 8, Bathroom 5, Bathroom 2, Bedroom 3
Subdivision
Midland Beach
Standard status
Active
Size
5,523 SF
Lot size
0.14 Acres
Utilities
Water source
Public
Amenities
rooftop solar panels
Building Details
Year built
2026
Floors in Building
3
Flooring type
Hardwood
Listing Agency:
B SQUARE REALTY
(718) 939-8388
Listed By:
Zewei Li · License #10401315712
(516) 777-0887
Added: Sep 2
Changed: Sep 4
Last Checked: Sep 4 at 11:06PM
MLS# 11962257
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.
This legal two-family duplex is under construction with a projected 2026 completion and 5,523 square feet of total building area. The property includes 3,682 square feet of residential living space, with two dwelling units arranged across the second and third floors. Each unit is planned with 4 bedrooms and 3 full bathrooms, for a combined total of 8 bedrooms and 6 full bathrooms. The first floor adds 1,841 square feet of flexible storage and ancillary space with front and rear entrances.
The 6,280-square-foot lot includes a dedicated driveway, while the building is planned with hardwood flooring, rooftop solar panels, public water service, and energy-efficient new-construction features. The property is located near the beach and boardwalk, with access to parks, dining, shopping, and transportation. Certain finishes and selections may remain customizable depending on construction progress and required approvals.
The 6,280-square-foot lot includes a dedicated driveway, while the building is planned with hardwood flooring, rooftop solar panels, public water service, and energy-efficient new-construction features. The property is located near the beach and boardwalk, with access to parks, dining, shopping, and transportation. Certain finishes and selections may remain customizable depending on construction progress and required approvals.
Key Highlights
- Legal two‑family duplex with 2 dwelling units
- 3,682 square feet of residential living area within 5,523 square feet of total building area
- Each dwelling unit includes 4 bedrooms and 3 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
$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 - Under construction with hardwood floors, rooftop solar panels, a dedicated driveway, and three above-ground 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: Legal two‑family duplex with 2 dwelling units; 3,682 square feet of residential living area within 5,523 square feet of total building area; Each dwelling unit includes 4 bedrooms and 3 full bathrooms
