Income-Producing Colonial Two-Family
508 New Dorp Ln, Staten Island, NY 10306
Two-family colonial in the heart of New Dorp.
Type:Multi Family
Property size:
2,625 SFPrice / SF:
$380/SF- Added:
- Apr 27, 2026
- Days on Market:
- 74
- Last Refresh:
- Jul 2 at 11:19 am
Property Features for 508 New Dorp Ln
General Information
- Standard status
- Active
- Size
- 2,625 SF
- Property subtype
- Multi Family
Building Details
- Year Built
- 2004
Listing office ANNE LOPA REAL ESTATE (718) 227-1111
Listing date Apr 27, 2026
Source Elliman
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 ANNE LOPA REAL ESTATE
HighLights
- Income‑producing 2‑family home in a highly desirable location in the heart of New Dorp.
- Convenient access to amenities: grocery stores, coffee shops, restaurants, gym, top‑rated schools, buses, trains, and the bridge.
- Main house features a custom eat‑in kitchen with stainless steel appliances, granite countertops, and glass subway tile backsplash, plus oak floors and railings throughout.
- Outdoor space includes a pool with a new liner and pool deck, garden area, and a fully fenced yard.
- Apartment with a large eat‑in kitchen with stainless steel appliances (including dishwasher), living room, dining area, and bedroom.
- Separate utilities for each unit: 2 separate heating units, 2 central air units, and 2 separate electric meters.
Overview
This wonderful two-family colonial, approximately 2625 sq ft, is an income-producing property located in the heart of New Dorp. The home is situated close to grocery stores, coffee shops, restaurants, a gym, Staten Island Tech High School, New Dorp High School, buses, trains, and is just minutes from the bridge. The main house is approximately 1750 sq ft, while the apartment is approximately 875 sq ft. The main house features a custom eat-in kitchen with stainless steel appliances, granite countertops, and a glass subway tile backsplash, a family room, a living room, a dining room, and a 1/2 bath. Oak floors and railings run throughout. The upper level includes a large master bedroom with a private full bath, a large bedroom, a third bedroom, and a second full bath. The apartment includes a large eat-in kitchen with stainless steel appliances, including a dishwasher, a living room, a dining area, and a bedroom. The yard features a pool with a new liner and a pool deck, a garden area, and space for tables, chairs, and lounges, plus a driveway and a PVC fence around the property. The tenant has a separate central air unit and a separate heating system. The main house includes a washer and dryer, which the tenant can share if the owner allows. There are two separate heating units, two central air units, and two separate electric meters.
Local Financial Insights For Multifamily LT 5
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $100.8k | $38.40 |
| − Vacancy | −$5.5k | −$2.11 |
| EGI | $95.3k | $36.29 |
| − OpEx | −$28.6k | −$10.89 |
| NOI | $66.7k | $25.40 |
2,625 SF · lease $38.40/SF/yr · vacancy 5.50% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$952.6K
$833.5K – $1.11M
NOI $66,679 @ 7.0% cap · market cap 6.68%
Second Best
Apartment 5plus
$846.5K
$740.7K – $987.5K
NOI $59,252 @ 7.0% cap · market cap 5.94%
Theoretical Best
Office A
$1.25M
$1.10M – $1.46M
NOI $87,676 @ 7.0% cap · market cap 8.79%
Zoning and permitted uses should be independently verified with local authorities.
Location Intelligence
Current Use by Public Records
Duplexes
Location Insight
- Map
- Local Demand
- City
- Staten Island
- County
- Richmond
- State
- New York
- Longitude
- -74.10631
- Latitude
- 40.568478
Nearby Similar for Sale
FAQs
What type of property is this?
Duplex - Two-family colonial in the heart of New Dorp.
Where is this duplex located?
The property is located at 508 New Dorp Ln Staten Island, NY.
What is the asking price?
The asking price for this property is $998,000.
What are key features of this property?
This property features: Income‑producing 2‑family home in a highly desirable location in the heart of New Dorp.; Convenient access to amenities: grocery stores, coffee shops, restaurants, gym, top‑rated schools, buses, trains, and the bridge.; Main house features a **custom eat‑in kitchen with stainless steel appliances, granite countertops, and glass subway tile backsplash**, plus oak floors and railings throughout.
