Two-Family Duplex with
For Sale
Contact for pricing
Pending
666 Armstrong Avenue, Staten Island, NY 10308
Two-family duplex featuring a 6-over-6 layout, private driveway, and full basement with laundry access.
Property Size2,680 SF
Days on Market65
Property Features for 666 Armstrong Avenue
General Information
Standard status
Pending
Size
2,680 SF
Property subtype
Multifamily
Zoning
R3-1
Building Details
Year Built
1970
Stories
2
Units
2
Listing Agency:
Keller Williams Staten Island Realty
Listed By:
John Martelotti · License #10991231565
Source:
Crexi
Added: Jul 2
Changed: Aug 8
Last Checked: Aug 2 at 10:30AM
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 Keller Williams Staten Island Realty
Investment Insights
Based on property information with market context.
This well-maintained two-family duplex at 666 Armstrong Avenue offers a classic 6-over-6 configuration. Both the first and second-floor units include six rooms, with a formal living room, formal dining area, eat-in kitchen, full bathroom, and a primary bedroom with a private half bathroom. Each unit also provides two additional bedrooms with closet space.
The property includes a large private driveway and an extra-deep lot with room for a backyard. A full basement provides storage and laundry access, along with additional half bathroom space and plumbing set up for an extra kitchen.
A new roof was installed in 2023. The overall layout is designed to support separate living arrangements across both floors while maintaining substantial usable space below.
The property includes a large private driveway and an extra-deep lot with room for a backyard. A full basement provides storage and laundry access, along with additional half bathroom space and plumbing set up for an extra kitchen.
A new roof was installed in 2023. The overall layout is designed to support separate living arrangements across both floors while maintaining substantial usable space below.
Key Highlights
- Well‑maintained two‑family duplex built in 1970 with a classic 6‑over‑6 layout
- Each unit features a formal living room, formal dining, eat‑in kitchen, full bath, and 3 bedrooms
- Primary bedroom includes a private half bathroom; additional bedrooms have ample closet space
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
$66,647
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
5.80%
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%
$1,332,940
$1.3M
Cap Rate 7%
$952,100
$952.1K
Cap Rate 9%
$740,522
$740.5K
Market Conditions
NOI Build-Up for 2,680 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
$99.7K $37.20/SF
− Vacancy
−$4.5K −$1.67/SF
EGI
$95.2K $35.53/SF
− OpEx
−$28.6K −$10.66/SF
NOI
$66.6K $24.87/SF
Area
Staten Island, NY
Vacancy
4.50%
Lease Rate
$37.20 /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%
$1,332,940
Cap Rate 7%
$952,100
Cap Rate 9%
$740,522
Alternative Uses
Best Use
Multifamily LT 5
$952.1K
$833.1K – $1.11M
NOI $66,647 @ 7.0% cap · market cap 5.80%
Second Best
Apartment 5plus
$849.0K
$742.9K – $990.5K
NOI $59,432 @ 7.0% cap · market cap 5.17%
Theoretical Best
Office A
$1.28M
$1.12M – $1.49M
NOI $89,513 @ 7.0% cap · market cap 7.78%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,069
Businesses Nearby
Explore this area
Business Placement
Demographics for 10308, NY
28,198
Population
11,093
Households
2.5
Avg Household Size
44
Median Age
40%
College-Educated
94%
High-School Grad
2.2 sq mi
ZIP Area
12,817
Density / Sq Mi
$122,654
Median Household Income
$67,149
Median Earnings
$1,729
Median Rent
$648,800
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-family duplex featuring a 6-over-6 layout, private driveway, and full basement with laundry access.
Where is this duplex located?
The property is located at 666 Armstrong Avenue Staten Island, NY.
What is the asking price?
The asking price for this property is $1,150,000.
What are key features of this property?
This property features: Well‑maintained two‑family duplex built in 1970 with a classic 6‑over‑6 layout; Each unit features a formal living room, formal dining, eat‑in kitchen, full bath, and 3 bedrooms; Primary bedroom includes a private half bathroom; additional bedrooms have ample closet space
