Four-Unit Duplex
For Sale
$1,399,000
53-55 Luke Ct, Staten Island, NY 10306
Two vacant homes combine established residential layouts with basement space and separate side entrances.
Property Size4,742 SF
Price / SF$295.02
Days on Market12
Property Features for 53-55 Luke Ct
General Information
Standard status
Active
Size
4,742 SF
Property subtype
Multi-Family
Building Details
Year Built
1986
Listing Agency:
Tom Crimmins Realty, Ltd.
(718) 619-7976
Listed By:
Ross Buxbaum · License #40BU1069624
Source:
Statenislandhomelistings
Added: Aug 21
Changed: Aug 31
Last Checked: Aug 31 at 5:45PM
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 Tom Crimmins Realty, Ltd.
Investment Insights
Based on property information with market context.
This offering includes two separate duplex homes conveyed together, with four existing legal units in total. Each residence contains two 2-bedroom, 1-bathroom apartments, and all units are currently vacant. The buildings provide 4,742 square feet of property size and were built in 1986.
The home at 53 Luke Court occupies a 25 x 113 lot and includes a full finished basement with an additional bathroom and side entrance. The residence at 55 Luke Court sits on a 21 x 118 lot and has a full, high-and-dry unfinished basement with its own side entrance. Combined lot area is approximately 5,303 square feet. The properties are located on Luke Court in Staten Island, New York, and are being sold together.
The home at 53 Luke Court occupies a 25 x 113 lot and includes a full finished basement with an additional bathroom and side entrance. The residence at 55 Luke Court sits on a 21 x 118 lot and has a full, high-and-dry unfinished basement with its own side entrance. Combined lot area is approximately 5,303 square feet. The properties are located on Luke Court in Staten Island, New York, and are being sold together.
Key Highlights
- Four existing legal units across two separate duplex homes
- Each home contains two 2‑bedroom, 1‑bathroom units
- 53 Luke Court: 25 x 113 lot with full finished basement and additional 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
$120,454
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
8.61%
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%
$2,409,080
$2.4M
Cap Rate 7%
$1,720,771
$1.7M
Cap Rate 9%
$1,338,378
$1.3M
Market Conditions
NOI Build-Up for 4,742 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
$182.1K $38.40/SF
− Vacancy
−$10.0K −$2.11/SF
EGI
$172.1K $36.29/SF
− OpEx
−$51.6K −$10.89/SF
NOI
$120.5K $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%
$2,409,080
Cap Rate 7%
$1,720,771
Cap Rate 9%
$1,338,378
Alternative Uses
Best Use
Multifamily LT 5
$1.72M
$1.51M – $2.01M
NOI $120,454 @ 7.0% cap · market cap 8.61%
Second Best
Apartment 5plus
$1.53M
$1.34M – $1.78M
NOI $107,036 @ 7.0% cap · market cap 7.65%
Theoretical Best
Office A
$2.26M
$1.98M – $2.64M
NOI $158,384 @ 7.0% cap · market cap 11.32%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
395
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 vacant homes combine established residential layouts with basement space and separate side entrances.
Where is this duplex located?
The property is located at 53-55 Luke Ct Staten Island, NY.
What is the asking price?
The asking price for this property is $1,399,000.
What are key features of this property?
This property features: Four existing legal units across two separate duplex homes; Each home contains two 2‑bedroom, 1‑bathroom units; 53 Luke Court: 25 x 113 lot with full finished basement and additional bathroom
