Duplex with Finished
For Sale
Contact for pricing
521 Steuben Street, Staten Island, NY 10305
Renovated apartments offer hardwood floors, split-unit AC, and updated bathrooms.
Property Size2,250 SF
Price / SF$617.28
Days on Market17
Property Features for 521 Steuben Street
General Information
Standard status
Active
Size
2,250 SF
Property subtype
Multifamily
Zoning
R3-1
Site & Location
Highway Access
Yes
Road Access
Yes
Public Transit
Yes
Utilities to Site
Yes
Units
Unit Mix
2 x 3BR/1BA
Multifamily Units
3
Building Details
Year Built
1960
Buildings
1
Stories
2
Units
2
Listing Agency:
Homes R Us Realty of NY, Inc.
Listed By:
Leor Mizrahi
(917) 683-5990
Source:
Crexi
Added: Aug 18
Changed: Aug 29
Last Checked: Sep 1 at 6:36PM
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 Homes R Us Realty of NY, Inc.
Investment Insights
Based on property information with market context.
Built in 1960, this 2,250-square-foot duplex occupies a corner property in Grasmere. The two apartments each contain three bedrooms and one full bathroom, with oak cabinetry, renovated bathrooms, hardwood flooring, and split-unit air conditioning. A finished basement has a private entrance, summer kitchen, multiple windows, and a separate electric meter, creating a distinct lower-level layout with potential for ADU or third-unit use as described.
Infrastructure includes three electric meters, upgraded 200 Amp electrical panels, furnaces, and Navien tankless water heaters. The property is near the VZ Bridge, Staten Island Expressway, Hylan Boulevard, the Boardwalk and Beach, public transportation, schools, and shopping. Zoning is R3-1.
Infrastructure includes three electric meters, upgraded 200 Amp electrical panels, furnaces, and Navien tankless water heaters. The property is near the VZ Bridge, Staten Island Expressway, Hylan Boulevard, the Boardwalk and Beach, public transportation, schools, and shopping. Zoning is R3-1.
Key Highlights
- 2,250‑square‑foot duplex on a corner property in Grasmere
- Two apartments, each with 3 bedrooms and 1 full bathroom
- Finished basement with private entrance and summer kitchen
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
$59,074
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
4.25%
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%
$1,181,480
$1.2M
Cap Rate 7%
$843,914
$843.9K
Cap Rate 9%
$656,378
$656.4K
Market Conditions
NOI Build-Up for 2,250 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
$91.8K $40.80/SF
− Vacancy
−$7.4K −$3.29/SF
EGI
$84.4K $37.51/SF
− OpEx
−$25.3K −$11.25/SF
NOI
$59.1K $26.26/SF
Area
ZIP 10305
Vacancy
8.07%
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%
$1,181,480
Cap Rate 7%
$843,914
Cap Rate 9%
$656,378
Alternative Uses
Best Use
Multifamily LT 5
$843.9K
$738.4K – $984.6K
NOI $59,074 @ 7.0% cap · market cap 4.25%
Second Best
Apartment 5plus
$776.4K
$679.4K – $905.9K
NOI $54,351 @ 7.0% cap · market cap 3.91%
Theoretical Best
Office A
$1.07M
$939.4K – $1.25M
NOI $75,151 @ 7.0% cap · market cap 5.41%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
3
Residential units
Yes
Highway access
Yes
Paved road access
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
1,032
Businesses Nearby
Explore this area
Business Placement
Demographics for 10305, NY
44,008
Population
16,850
Households
2.6
Avg Household Size
41
Median Age
32%
College-Educated
85%
High-School Grad
4.0 sq mi
ZIP Area
11,002
Density / Sq Mi
$86,294
Median Household Income
$52,183
Median Earnings
$1,656
Median Rent
$627,200
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 - Renovated apartments offer hardwood floors, split-unit AC, and updated bathrooms.
Where is this duplex located?
The property is located at 521 Steuben Street Staten Island, NY.
What is the asking price?
The asking price for this property is $1,388,888.
What are key features of this property?
This property features: 2,250‑square‑foot duplex on a corner property in Grasmere; Two apartments, each with 3 bedrooms and 1 full bathroom; Finished basement with private entrance and summer kitchen
