Income-Producing Colonial Two-Family
For Sale
$998,000
508 New Dorp Ln, Staten Island, NY 10306
Two-family colonial in the heart of New Dorp.
Property Size1,150 SF
Price / SF$867.83
Days on Market488
Property Features for 508 New Dorp Ln
General Information
Standard status
Active
Size
1,150 SF
Property subtype
Multi-Family
Building Details
Year Built
2004
Listing Agency:
Anne Lopa Real Estate
Listed By:
Ann Lopa
(718) 227-1111
Source:
Statenislandhomelistings
Added: Jun 20, 2025
Changed: Oct 13
Last Checked: Oct 19 at 6:46AM
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
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Investment Insights
Based on property information with market context.
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.
Key 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.
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$29,212
Cap Rate
2.93%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$584,240
$584.2K
Cap Rate 7%
$417,314
$417.3K
Cap Rate 9%
$324,578
$324.6K
Market Conditions
NOI Build-Up for 1,150 SF
Gross rent
$44.2K $38.40/SF
− Vacancy
−$2.4K −$2.11/SF
EGI
$41.7K $36.29/SF
− OpEx
−$12.5K −$10.89/SF
NOI
$29.2K $25.40/SF
Area
ZIP 10306
Vacancy
5.50%
Lease Rate
$38.40 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$584,240
Cap Rate 7%
$417,314
Cap Rate 9%
$324,578
Alternative Uses
Best Use
Multifamily LT 5
$417.3K
$365.2K – $486.9K
NOI $29,212 @ 7.0% cap · market cap 2.93%
Second Best
Apartment 5plus
$370.8K
$324.5K – $432.6K
NOI $25,958 @ 7.0% cap · market cap 2.60%
Theoretical Best
Office A
$548.7K
$480.1K – $640.2K
NOI $38,410 @ 7.0% cap · market cap 3.85%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Location Intelligence
Trade Area within ½ mile
1,483
Businesses Nearby
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Business Placement
Demographics for 10306, NY
57,919
Population
21,299
Households
2.7
Avg Household Size
43
Median Age
34%
College-Educated
88%
High-School Grad
7.2 sq mi
ZIP Area
8,044
Density / Sq Mi
$97,746
Median Household Income
$54,052
Median Earnings
$1,743
Median Rent
$675,400
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in Northeast region
Frequently Asked Questions
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.
