Two-Family Residential Income
For Sale
$799,000
Pending
412 Port Richmond Ave, Staten Island, NY 10302
Updated two-family home with separate living areas, a finished basement, and deck access for flexible tenant setups.
Property Size1,632 SF
Days on Market158
Property Features for 412 Port Richmond Ave
General Information
Standard status
Pending
Size
1,632 SF
Property subtype
Multi-Family
Additional Details
Multifamily Units
2
Building Details
Year Built
1920
Tenancy
Multi
Listing Agency:
Spiegel Realty LLC
Listed By:
Sandra Spiegel · License #10491201104
(347) 816-3075
Source:
Statenislandhomelistings
Added: Apr 6
Changed: Sep 9
Last Checked: Sep 9 at 11:33AM
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 Spiegel Realty LLC
Investment Insights
Based on property information with market context.
This updated two-family residential property is set up with a main-floor unit and an upstairs unit. The first unit features a large living room, dining room, and an eat-in kitchen with an oversized pantry, plus access to a deck. It also includes two bedrooms and a full bathroom. The upstairs second unit offers a living room, dining room, three bedrooms, a full bath, and access to a large stand-up attic area that is currently configured as one room but can be divided into additional bedrooms.
The property also includes a fully finished basement with a kitchen, an extra room, a laundry room, and a bathroom with a shower. A side door leads to the driveway, supporting convenient access between indoor and outdoor areas.
Internally, the home includes features such as Pergo floors, recessed lighting, and ceiling fans, along with efficient hot water heat and AC. The roof is approximately three years old, and the layout provides practical, multi-room living space across both floors and the finished basement for tenants or owner-occupants looking for separate configurations.
The property also includes a fully finished basement with a kitchen, an extra room, a laundry room, and a bathroom with a shower. A side door leads to the driveway, supporting convenient access between indoor and outdoor areas.
Internally, the home includes features such as Pergo floors, recessed lighting, and ceiling fans, along with efficient hot water heat and AC. The roof is approximately three years old, and the layout provides practical, multi-room living space across both floors and the finished basement for tenants or owner-occupants looking for separate configurations.
Key Highlights
- Updated 2‑family house built in 1920 with separate living areas across the main and upper units
- Main floor unit features a large living room, dining room, eat‑in kitchen, extra‑large pantry, and access to a deck
- Upper unit includes a living room, dining room, 3 bedrooms, a full bath, and access to a large stand‑up attic that can be divided
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
$40,585
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
5.08%
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%
$811,700
$811.7K
Cap Rate 7%
$579,786
$579.8K
Cap Rate 9%
$450,944
$450.9K
Market Conditions
NOI Build-Up for 1,632 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
$60.7K $37.20/SF
− Vacancy
−$2.7K −$1.67/SF
EGI
$58.0K $35.53/SF
− OpEx
−$17.4K −$10.66/SF
NOI
$40.6K $24.87/SF
Area
Staten Island, NY
Vacancy
4.50%
Lease Rate
$37.20 /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%
$811,700
Cap Rate 7%
$579,786
Cap Rate 9%
$450,944
Alternative Uses
Best Use
Multifamily LT 5
$579.8K
$507.3K – $676.4K
NOI $40,585 @ 7.0% cap · market cap 5.08%
Second Best
Apartment 5plus
$517.0K
$452.4K – $603.2K
NOI $36,191 @ 7.0% cap · market cap 4.53%
Theoretical Best
Office A
$778.7K
$681.4K – $908.5K
NOI $54,509 @ 7.0% cap · market cap 6.82%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Unlock full access to Insights
Subscribe to Realmo Intelligence
Open Analytics
Current Use
Lease Details
2
Residential units
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
2,017
Businesses Nearby
Explore this area
Business Placement
Demographics for 10302, NY
20,931
Population
6,927
Households
3
Avg Household Size
35
Median Age
29%
College-Educated
85%
High-School Grad
1.2 sq mi
ZIP Area
17,443
Density / Sq Mi
$76,089
Median Household Income
$43,608
Median Earnings
$1,800
Median Rent
$586,300
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Multifamily in Northeast region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Duplex - Updated two-family home with separate living areas, a finished basement, and deck access for flexible tenant setups.
Where is this duplex located?
The property is located at 412 Port Richmond Ave Staten Island, NY.
What is the asking price?
The asking price for this property is $799,000.
What are key features of this property?
This property features: Updated 2‑family house built in 1920 with separate living areas across the main and upper units; Main floor unit features a large living room, dining room, eat‑in kitchen, extra‑large pantry, and access to a deck; Upper unit includes a living room, dining room, 3 bedrooms, a full bath, and access to a large stand‑up attic that can be divided
