Vacant Two-Family
New
For Sale
$699,500
53 Luke Court, Staten Island, NY 10306
Residential Income, Staten Island, NY
Property Size2,366 SF
Lot Size0.06 Acres
Price / SF$295.65
Days on Market4
Property Features for 53 Luke Court
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Zoning
R3-2
Bedrooms
4
Bathrooms
3
Full bathrooms
3
Rooms
Bathroom 2, Bathroom 3, Bathroom 1, Bedroom 4, Bedroom 3, Bedroom 2, Bedroom 1
Parking features
Driveway
Basement
Finished, Full
Lot features
Front Yard, Back Yard
Subdivision
Richmond Town
Standard status
Active
APN
4478-0221
Size
2,366 SF
Lot size
0.06 Acres
Taxes and HOA fees
Tax Annual Amount
7234
Utilities
Sewer type
Public Sewer
Heating system
Forced Air, Natural Gas
Cooling system
Central Air
Building Details
Year built
1986
Floors in Building
2
Number of units
2
Building materials
Stone, Vinyl Siding
Architectural style
Colonial
Listing Agency:
Tom Crimmins Realty, Ltd.
(718) 370-3200
Listed By:
Ross Buxbaum
(718) 619-7976
Added: Aug 25
Changed: Aug 26
Last Checked: Aug 28 at 6:06AM
MLS# 2604808
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 1986 Colonial-style duplex contains two separate two-bedroom, one-bathroom units, both currently vacant. The home includes a full finished basement with another bathroom and a side entrance, creating additional space for recreation, an office, extended-family use, or other arrangements subject to required approvals. Natural gas forced-air heat, central air, public sewer service, and a driveway are also included.
The property occupies a 25 x 113 lot totaling 2,825 sq. ft., with 2,366 square feet of property size. It is located at 53 Luke Court in Staten Island and is zoned R3-2. The property is offered in connection with 55 Luke Court as a package.
The property occupies a 25 x 113 lot totaling 2,825 sq. ft., with 2,366 square feet of property size. It is located at 53 Luke Court in Staten Island and is zoned R3-2. The property is offered in connection with 55 Luke Court as a package.
Key Highlights
- Legal two‑family property with two vacant 2‑bedroom, 1‑bathroom units
- Full finished basement with an additional bathroom and side entrance
- 2,825 sq. ft. lot measuring 25 x 113
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
$60,100
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
8.59%
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%
$1,202,000
$1.2M
Cap Rate 7%
$858,571
$858.6K
Cap Rate 9%
$667,778
$667.8K
Market Conditions
NOI Build-Up for 2,366 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
$90.9K $38.40/SF
− Vacancy
−$5.0K −$2.11/SF
EGI
$85.9K $36.29/SF
− OpEx
−$25.8K −$10.89/SF
NOI
$60.1K $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%
$1,202,000
Cap Rate 7%
$858,571
Cap Rate 9%
$667,778
Alternative Uses
Best Use
Multifamily LT 5
$858.6K
$751.3K – $1.00M
NOI $60,100 @ 7.0% cap · market cap 8.59%
Second Best
Apartment 5plus
$762.9K
$667.6K – $890.1K
NOI $53,405 @ 7.0% cap · market cap 7.63%
Theoretical Best
Office A
$1.13M
$987.8K – $1.32M
NOI $79,025 @ 7.0% cap · market cap 11.30%
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 residential units are complemented by a finished basement with a separate side entrance and additional bathroom.
Where is this duplex located?
The property is located at 53 Luke Court Staten Island, NY.
What is the asking price?
The asking price for this property is $699,500.
What are key features of this property?
This property features: Legal two‑family property with two vacant 2‑bedroom, 1‑bathroom units; Full finished basement with an additional bathroom and side entrance; 2,825 sq. ft. lot measuring 25 x 113
