Two-Family Colonial with
For Sale
$998,000
508 New Dorp Lane, Staten Island, NY 10306
MULTI_FAMILY - Staten Island, NY
Property Size1,600 SF
Lot Size0.07 Acres
Price / SF$623.75
Days on Market426
Property Features for 508 New Dorp Lane
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning
R3-1
Bathrooms
4
Full bathrooms
3
Half bathrooms
1
Rooms
Bathroom 4, Bathroom 1, Bathroom 3, Bathroom 2
Parking features
Carport
Patio and Porch features
Deck, Patio
Interior features
Central Air, Deck, Dishwasher, Laundry Area, Microwave, Patio Garden, Pool, Refrigerator, Stove, Washer
Basement
Finished
Subdivision
New Dorp
Standard status
Active
Size
1,600 SF
Lot size
0.07 Acres
Taxes and HOA fees
Tax Annual Amount
6091
Amenities
custom eat-in kitchen
stainless steel appliances
granite countertops
glass subway tile backsplash
family room
living room
dining room
oak floors
master bedroom with private full bath
pool
pool deck
garden area
central air
separate heat systems
washer/dryer
Building Details
Year built
2004
Floors in Building
2
Number of units
1
Flooring type
Tile, Hardwood
Building materials
Wood Frame
Roof type
Asphalt
Architectural style
Colonial
Listing Agency:
Anne Lopa Real Estate
(718) 227-1111
Listed By:
Ann Lopa
(718) 227-1111
Added: Jun 25, 2025
Changed: Aug 3
Last Checked: Aug 24 at 8:06PM
MLS# 493736
Copyright © 2026 Brooklyn New York Multiple Listing Service. 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 at 508 New Dorp Lane is a wood-frame home built in 2004, offered with both upper and lower living spaces. Interior details include hardwood and tile flooring, central air, and multiple kitchens with stainless steel appliances, including a dishwasher. The main house includes a living area, dining area, and a half bath, plus a washer and dryer. The yard is designed for outdoor use, featuring a pool with a new liner and a pool deck, along with a garden area and space for outdoor seating. Exterior amenities include a deck and patio, and the property has a driveway and a PVC fence.
Operationally, the tenant space is supported by its own central air unit and separate heat system. The home also has two heating units, two central air units, and two separate electric meters. Parking is provided via a carport.
Set on a 0.0661-acre lot, this R3-1 residence offers a self-contained two-family layout with clear separation of utilities and HVAC systems.
Operationally, the tenant space is supported by its own central air unit and separate heat system. The home also has two heating units, two central air units, and two separate electric meters. Parking is provided via a carport.
Set on a 0.0661-acre lot, this R3-1 residence offers a self-contained two-family layout with clear separation of utilities and HVAC systems.
Key Highlights
- Two‑family Colonial built in 2004
- 0.0661‑acre lot with deck, patio, and fenced yard
- Pool with new liner plus pool deck
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
$40,643
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
4.07%
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%
$812,860
$812.9K
Cap Rate 7%
$580,614
$580.6K
Cap Rate 9%
$451,589
$451.6K
Market Conditions
NOI Build-Up for 1,600 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
$61.4K $38.40/SF
− Vacancy
−$3.4K −$2.11/SF
EGI
$58.1K $36.29/SF
− OpEx
−$17.4K −$10.89/SF
NOI
$40.6K $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%
$812,860
Cap Rate 7%
$580,614
Cap Rate 9%
$451,589
Alternative Uses
Best Use
Multifamily LT 5
$580.6K
$508.0K – $677.4K
NOI $40,643 @ 7.0% cap · market cap 4.07%
Second Best
Apartment 5plus
$515.9K
$451.4K – $601.9K
NOI $36,115 @ 7.0% cap · market cap 3.62%
Theoretical Best
Office A
$763.4K
$668.0K – $890.7K
NOI $53,440 @ 7.0% cap · market cap 5.35%
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 on R3-1 zoning with a pool, deck, and separate central air and heating systems.
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‑family Colonial built in 2004; 0.0661‑acre lot with deck, patio, and fenced yard; Pool with new liner plus pool deck
