Two-Unit Duplex with Private Central
For Sale
$998,000
508 New Dorp Lane, Staten Island, NY 10306
MULTI_FAMILY - Staten Island, NY
Property Size1,150 SF
Lot Size0.07 Acres
Price / SF$867.83
Days on Market432
Property Features for 508 New Dorp Lane
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Zoning
R3-1
Bedrooms
3
Bathrooms
5
Full bathrooms
3
Rooms
Bathroom 4, Bedroom 2, Bedroom 3, Bedroom 1, Bathroom 3, Bathroom 5, Bathroom 1, Bathroom 2
Parking features
Carport, On Street
Basement
Apartment, Full
Lot features
Front Yard, Back Yard
Subdivision
New Dorp
Standard status
Active
APN
04031-0109
Size
1,150 SF
Lot size
0.07 Acres
Taxes and HOA fees
Tax Annual Amount
6112
Utilities
Sewer type
Public Sewer
Heating system
Natural Gas, Forced Air
Cooling system
Central Air
Amenities
front porch
pool
pool deck
garden area
PVC fence
Building Details
Year built
2004
Floors in Building
2
Number of units
2
Building materials
Stone, Stucco, Vinyl Siding
Listing Agency:
Anne Lopa Real Estate
(718) 227-1111
Listed By:
Ann Lopa
(718) 227-1111
Added: Jun 19, 2025
Changed: Aug 2
Last Checked: Aug 24 at 8:06PM
MLS# 2503597
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 two-family Colonial duplex offers three floors of living space with a walk-up entry and separate systems for the tenant and main residence. The main house features a custom eat-in kitchen with stainless steel appliances, granite countertops, and a glass subway tile backsplash, along with a family room, living room, dining room, and a half bath. Oak floors and railings run throughout, and the upper level includes a large master bedroom with a private full bath, plus additional bedrooms and a second full bath. The apartment is described as a studio with a second family room next to the apartment.
Outside, the property includes a yard with a pool, a new liner, and a pool deck, along with a garden area and space for outdoor seating. There is also a driveway and an entire PVC fence around the property. The tenant has a separate central air unit and separate heat system, with the option to share the main house washer and dryer if permitted, and there are two separate heating units, two central air unit, and two separate electric meters. The home was built in 2004 and sits on a 0.0661-acre lot.
Conveniently located in the heart of New Dorp, the home is about 0.03 miles (2 minutes) from grocery stores, coffee, shops, restaurants, gym, Staten Island Tech High School, and nearby bus and train options, with minutes to the bridge.
Outside, the property includes a yard with a pool, a new liner, and a pool deck, along with a garden area and space for outdoor seating. There is also a driveway and an entire PVC fence around the property. The tenant has a separate central air unit and separate heat system, with the option to share the main house washer and dryer if permitted, and there are two separate heating units, two central air unit, and two separate electric meters. The home was built in 2004 and sits on a 0.0661-acre lot.
Conveniently located in the heart of New Dorp, the home is about 0.03 miles (2 minutes) from grocery stores, coffee, shops, restaurants, gym, Staten Island Tech High School, and nearby bus and train options, with minutes to the bridge.
Key Highlights
- Two central air units and two separate heating systems plus two separate electric meters
- Apartment described as a studio with an additional second family room next to it
- Approximately 0.03 miles to grocery stores, coffee, shops, restaurants, gym, and Staten Island Tech High School
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
$29,212
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
2.93%
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%
$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
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
$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 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%
$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.
Property Analytics
Property Profile
Current Use
Lease Details
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
1,483
Businesses Nearby
Explore this area
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
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 - Two-family Colonial in R3-1 zoning with separate heating and central air systems plus tenant separate electric metering.
Where is this duplex located?
The property is located at 508 New Dorp Lane 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: Two central air units and two separate heating systems plus two separate electric meters; Apartment described as a studio with an additional second family room next to it; Approximately 0.03 miles to grocery stores, coffee, shops, restaurants, gym, and Staten Island Tech High School
