Two-Unit Colonial
New
For Sale
$699,500
55 Luke Court, Staten Island, NY 10306
Residential Income, Staten Island, NY
Property Size2,376 SF
Lot Size0.06 Acres
Price / SF$294.40
Days on Market4
Property Features for 55 Luke Court
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Zoning
R3-2
Bedrooms
4
Bathrooms
2
Full bathrooms
2
Rooms
Bedroom 4, Bathroom 2, Bathroom 1, Bedroom 1, Bedroom 2, Bedroom 3
Parking features
Driveway
Basement
Unfinished, Full
Lot features
Front Yard, Back Yard
Subdivision
Richmond Town
Standard status
Active
APN
04478-0220
Size
2,376 SF
Lot size
0.06 Acres
Taxes and HOA fees
Tax Annual Amount
7322
Utilities
Sewer type
Public Sewer
Heating system
Natural Gas, Forced Air
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# 2604807
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 vacant duplex contains two distinct residential units, each arranged with two bedrooms and one bathroom. The Colonial-style property was built in 1986 and measures 2,376 square feet. A full unfinished basement provides additional interior space, while the side entrance supports separate access to that level. Central air, forced-air natural gas heat, vinyl siding, stone construction, and a driveway are included.
The home occupies a 21 x 118 lot totaling 2,478 square feet, or 0.0569 acres. It is served by public sewer and carries R3-2 zoning. The property at 55 Luke Court is being sold together with 53 Luke Court as a package, with both properties conveyed together.
The home occupies a 21 x 118 lot totaling 2,478 square feet, or 0.0569 acres. It is served by public sewer and carries R3-2 zoning. The property at 55 Luke Court is being sold together with 53 Luke Court as a package, with both properties conveyed together.
Key Highlights
- Two separate 2‑bedroom, 1‑bathroom units
- 2,376 square feet on a 2,478‑square‑foot lot
- Full unfinished basement with side entrance
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
$60,354
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
8.63%
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%
$1,207,080
$1.2M
Cap Rate 7%
$862,200
$862.2K
Cap Rate 9%
$670,600
$670.6K
Market Conditions
NOI Build-Up for 2,376 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
$91.2K $38.40/SF
− Vacancy
−$5.0K −$2.11/SF
EGI
$86.2K $36.29/SF
− OpEx
−$25.9K −$10.89/SF
NOI
$60.4K $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%
$1,207,080
Cap Rate 7%
$862,200
Cap Rate 9%
$670,600
Alternative Uses
Best Use
Multifamily LT 5
$862.2K
$754.4K – $1.01M
NOI $60,354 @ 7.0% cap · market cap 8.63%
Second Best
Apartment 5plus
$766.2K
$670.4K – $893.9K
NOI $53,631 @ 7.0% cap · market cap 7.67%
Theoretical Best
Office A
$1.13M
$992.0K – $1.32M
NOI $79,359 @ 7.0% cap · market cap 11.35%
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
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Duplex - Vacant duplex with separate residences, unfinished basement space, driveway parking, and central air conditioning.
Where is this duplex located?
The property is located at 55 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: Two separate 2‑bedroom, 1‑bathroom units; 2,376 square feet on a 2,478‑square‑foot lot; Full unfinished basement with side entrance
