New-Build Duplex with
For Sale
$2,398,000
488 Butler Boulevard, Staten Island, NY 10309
MULTI_FAMILY - Colonial - Staten Island, NY
Property Size4,465 SF
Lot Size0.17 Acres
Price / SF$537.07
Days on Market9
Property Features for 488 Butler Boulevard
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Zoning
R3X
Bedrooms
4
Bathrooms
4
Full bathrooms
1
Half bathrooms
1
Rooms
Bathroom 3, Bathroom 2, Bathroom 4, Bathroom 1, Bedroom 3, Bedroom 4, Bedroom 2, Bathroom 5, Bathroom 6, Bedroom 1
Parking features
On Street, Driveway
Patio and Porch features
Patio, Deck
Interior features
Walk-In Closet(s)
Basement
Apartment, Finished
Lot features
Back Yard
Subdivision
Tottenville
Standard status
Active
APN
07710-0300
Size
4,465 SF
Lot size
0.17 Acres
Taxes and HOA fees
Tax Annual Amount
7500
Utilities
Sewer type
Public Sewer
Heating system
Hot Water(Heating), Natural Gas
Cooling system
Central Air
Building Details
Year built
2026
Floors in Building
2
Number of units
2
Building materials
Stone, Stucco
Architectural style
Colonial
Listing Agency:
Master Associates Inc.
(718) 987-3000
Listed By:
Ann Coppola
(917) 374-6849
Added: Aug 5
Changed: Aug 10
Last Checked: Aug 13 at 11:06AM
MLS# 2604407
Copyright © 2026 Staten Island Board of Realtors. 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 2026 Colonial-style duplex includes a finished basement with a studio apartment, 3/4 bath, separate entrance, and parking pad. The main residence offers an open-concept first level with a large eat-in kitchen, butler’s pantry, dining room, great room, gas fireplace, patio access, and half bath. The upper level contains four bedrooms, multiple baths, walk-in closets, a laundry room, and attic storage. A two-story entry adds volume to the interior, while stone and stucco form the exterior.
Heating is provided by hot water and natural gas systems, with radiant heat on portions of the first and second levels. The property also has 2 central air units and 3 split units. Additional features include a built-in two-car garage, driveway and on-street parking, public sewer, patio, deck, and R3X zoning. The property is located on Butler Boulevard in Staten Island, NY 10309.
Heating is provided by hot water and natural gas systems, with radiant heat on portions of the first and second levels. The property also has 2 central air units and 3 split units. Additional features include a built-in two-car garage, driveway and on-street parking, public sewer, patio, deck, and R3X zoning. The property is located on Butler Boulevard in Staten Island, NY 10309.
Key Highlights
- 2026‑built Colonial‑style duplex with finished basement and studio apartment
- Studio apartment includes a 3/4 bath and separate entrance
- Main residence features four bedrooms, walk‑in closets, and multiple baths
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
$111,037
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
4.63%
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%
$2,220,740
$2.2M
Cap Rate 7%
$1,586,243
$1.6M
Cap Rate 9%
$1,233,744
$1.2M
Market Conditions
NOI Build-Up for 4,465 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
$166.1K $37.20/SF
− Vacancy
−$7.5K −$1.67/SF
EGI
$158.6K $35.53/SF
− OpEx
−$47.6K −$10.66/SF
NOI
$111.0K $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%
$2,220,740
Cap Rate 7%
$1,586,243
Cap Rate 9%
$1,233,744
Alternative Uses
Best Use
Multifamily LT 5
$1.59M
$1.39M – $1.85M
NOI $111,037 @ 7.0% cap · market cap 4.63%
Second Best
Apartment 5plus
$1.41M
$1.24M – $1.65M
NOI $99,016 @ 7.0% cap · market cap 4.13%
Theoretical Best
Office A
$2.13M
$1.86M – $2.49M
NOI $149,132 @ 7.0% cap · market cap 6.22%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
121
Businesses Nearby
Explore this area
Business Placement
Demographics for 10309, NY
33,523
Population
12,770
Households
2.6
Avg Household Size
41
Median Age
40%
College-Educated
92%
High-School Grad
7.3 sq mi
ZIP Area
4,592
Density / Sq Mi
$123,638
Median Household Income
$67,348
Median Earnings
$1,907
Median Rent
$745,500
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 - Colonial-style duplex with flexible lower-level space, separate access, multiple climate systems, and an integrated two-car garage.
Where is this duplex located?
The property is located at 488 Butler Boulevard Staten Island, NY.
What is the asking price?
The asking price for this property is $2,398,000.
What are key features of this property?
This property features: 2026‑built Colonial‑style duplex with finished basement and studio apartment; Studio apartment includes a 3/4 bath and separate entrance; Main residence features four bedrooms, walk‑in closets, and multiple baths
