Renovated Two-Family
For Sale
Contact for pricing
51 Elwood Avenue, Staten Island, NY 10314
Extra-large newly renovated two-family with 11 rooms, 5 bedrooms, 4 baths, partial basement, garage, and ample off-street parking.
Property Size2,206 SF
Price / SF$509.97
Days on Market129
Property Features for 51 Elwood Avenue
General Information
Standard status
Active
Size
2,206 SF
Property subtype
Multifamily
Zoning
R3-1
Building Details
Year Built
1982
Stories
2
Units
2
Listing Agency:
Berns Agency
Listed By:
Adam Weintraub · License #30WE1049540
Source:
Crexi
Added: May 1
Changed: Aug 31
Last Checked: Sep 1 at 7:14PM
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 Berns Agency
Investment Insights
Based on property information with market context.
This extra-large newly renovated two-family residence offers a total of 11 rooms with five bedrooms and four bathrooms. The main unit features seven rooms, including three bedrooms and three bathrooms. A side-door apartment includes four rooms, with two bedrooms and one full bathroom.
The property has two furnaces and two hot water tanks. Additional improvements include a partially finished full basement and a one-car garage, along with four off-street parking spaces. The exterior is described as beautifully landscaped.
With separate unit layouts and substantial room count, the home can support a variety of residential income or owner-occupant living arrangements. All details above reflect the information provided in the listing remarks.
The property has two furnaces and two hot water tanks. Additional improvements include a partially finished full basement and a one-car garage, along with four off-street parking spaces. The exterior is described as beautifully landscaped.
With separate unit layouts and substantial room count, the home can support a variety of residential income or owner-occupant living arrangements. All details above reflect the information provided in the listing remarks.
Key Highlights
- Newly renovated 2‑family built in 1982 offering 11 rooms, 5 bedrooms, and 4 bathrooms
- Main unit features 7 rooms with 3 bedrooms and 3 bathrooms
- Side door apartment includes 4 rooms with 2 bedrooms and 1 full bathroom
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
$60,168
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
5.35%
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%
$1,203,360
$1.2M
Cap Rate 7%
$859,543
$859.5K
Cap Rate 9%
$668,533
$668.5K
Market Conditions
NOI Build-Up for 2,206 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
$90.0K $40.80/SF
− Vacancy
−$4.1K −$1.84/SF
EGI
$86.0K $38.96/SF
− OpEx
−$25.8K −$11.69/SF
NOI
$60.2K $27.27/SF
Area
ZIP 10314
Vacancy
4.50%
Lease Rate
$40.80 /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%
$1,203,360
Cap Rate 7%
$859,543
Cap Rate 9%
$668,533
Alternative Uses
Best Use
Multifamily LT 5
$859.5K
$752.1K – $1.00M
NOI $60,168 @ 7.0% cap · market cap 5.35%
Second Best
Apartment 5plus
$797.0K
$697.4K – $929.9K
NOI $55,792 @ 7.0% cap · market cap 4.96%
Theoretical Best
Office A
$1.05M
$921.0K – $1.23M
NOI $73,681 @ 7.0% cap · market cap 6.55%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,228
Businesses Nearby
Explore this area
Business Placement
Demographics for 10314, NY
92,157
Population
33,554
Households
2.7
Avg Household Size
41
Median Age
37%
College-Educated
89%
High-School Grad
13.0 sq mi
ZIP Area
7,089
Density / Sq Mi
$104,655
Median Household Income
$58,769
Median Earnings
$1,726
Median Rent
$665,500
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 - Extra-large newly renovated two-family with 11 rooms, 5 bedrooms, 4 baths, partial basement, garage, and ample off-street parking.
Where is this duplex located?
The property is located at 51 Elwood Avenue Staten Island, NY.
What is the asking price?
The asking price for this property is $1,125,000.
What are key features of this property?
This property features: Newly renovated 2‑family built in 1982 offering 11 rooms, 5 bedrooms, and 4 bathrooms; Main unit features 7 rooms with 3 bedrooms and 3 bathrooms; Side door apartment includes 4 rooms with 2 bedrooms and 1 full bathroom
