Two-Family Duplex with Detached
For Sale
$875,000
69 Chelsea St, Staten Island, NY 10307
Two-family home with updated finishes, separate living spaces, and a detached garage with room for four vehicles.
Property Size1,936 SF
Days on Market64
Property Features for 69 Chelsea St
General Information
Standard status
Active
Size
1,936 SF
Total Parking Spaces
4
Property subtype
Multi Family
Additional Details
Highway Access
Yes
Multifamily Units
2
Taxes and HOA fees
Annual Taxes
$7,908
Building Details
Building Size
1,936 SF
Year Built
1910
Stories
2
Tenancy
Multi
Listing Agency:
Keller Williams Realty Empire
(718) 766-7159
Listed By:
Noreen Giacopelli
(718) 766-7159
Source:
Elliman
Added: Jun 23
Changed: Aug 23
Last Checked: Aug 24 at 8:40AM
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 Realty Empire
Investment Insights
Based on property information with market context.
69 Chelsea St is a two-family duplex offering a versatile 1-bedroom-over-3-bedroom configuration. The first-floor (main) apartment includes a living room with French doors leading to a formal dining room, an eat-in kitchen with granite countertops and modern cabinetry, and a door to the yard. It also features three spacious bedrooms, an updated full bath, and hardwood floors throughout. The second-floor apartment has a living room, dining room, kitchen, one bedroom, and a full bath, with hardwood floors and plenty of natural light. A finished basement with new windows adds additional flexible space, with built-in storage shelving, a washer and dryer, and a dedicated utilities area.
A detached garage includes a new overhead door with remote access and a new side entry door. The expansive driveway provides parking for up to four vehicles. Outside, the maintenance-free yard includes privacy trees. The home is near Conference House Park and offers waterfront views of the Raritan Bay. It is zoned for local schools, and the property is minutes from dining and retail at the Veterans Road shopping hub, with commuting options via the SI Expressway, Outerbridge Crossing, SI Railway, and buses.
This layout can support rental income or multi-generational living, with functional separation between the two apartments and practical amenities throughout, including in-unit laundry in the basement and included appliances from both units. The combination of driveway parking, a detached garage, and a turnkey yard setup makes the property straightforward to manage and comfortable to live in.
A detached garage includes a new overhead door with remote access and a new side entry door. The expansive driveway provides parking for up to four vehicles. Outside, the maintenance-free yard includes privacy trees. The home is near Conference House Park and offers waterfront views of the Raritan Bay. It is zoned for local schools, and the property is minutes from dining and retail at the Veterans Road shopping hub, with commuting options via the SI Expressway, Outerbridge Crossing, SI Railway, and buses.
This layout can support rental income or multi-generational living, with functional separation between the two apartments and practical amenities throughout, including in-unit laundry in the basement and included appliances from both units. The combination of driveway parking, a detached garage, and a turnkey yard setup makes the property straightforward to manage and comfortable to live in.
Key Highlights
- Two‑family home built in 1910 with separate 1‑bedroom and 3‑bedroom apartment layouts
- Main apartment features living room with French doors, formal dining room, eat‑in kitchen with granite countertops, 3 bedrooms, and an updated full bath
- Second‑floor apartment includes living room, dining room, kitchen, 1 bedroom, and a full bath with hardwood floors and natural light
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
$48,145
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
5.50%
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%
$962,900
$962.9K
Cap Rate 7%
$687,786
$687.8K
Cap Rate 9%
$534,944
$534.9K
Market Conditions
NOI Build-Up for 1,936 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
$72.0K $37.20/SF
− Vacancy
−$3.2K −$1.67/SF
EGI
$68.8K $35.53/SF
− OpEx
−$20.6K −$10.66/SF
NOI
$48.1K $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%
$962,900
Cap Rate 7%
$687,786
Cap Rate 9%
$534,944
Alternative Uses
Best Use
Multifamily LT 5
$687.8K
$601.8K – $802.4K
NOI $48,145 @ 7.0% cap · market cap 5.50%
Second Best
Apartment 5plus
$613.3K
$536.7K – $715.6K
NOI $42,933 @ 7.0% cap · market cap 4.91%
Theoretical Best
Office A
$923.8K
$808.3K – $1.08M
NOI $64,663 @ 7.0% cap · market cap 7.39%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Multi-tenant
Tenancy
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
585
Businesses Nearby
Explore this area
Business Placement
Demographics for 10307, NY
14,129
Population
5,390
Households
2.6
Avg Household Size
41
Median Age
39%
College-Educated
90%
High-School Grad
1.6 sq mi
ZIP Area
8,831
Density / Sq Mi
$138,807
Median Household Income
$74,211
Median Earnings
$1,618
Median Rent
$799,100
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 home with updated finishes, separate living spaces, and a detached garage with room for four vehicles.
Where is this duplex located?
The property is located at 69 Chelsea St Staten Island, NY.
What is the asking price?
The asking price for this property is $875,000.
What are key features of this property?
This property features: Two‑family home built in 1910 with separate 1‑bedroom and 3‑bedroom apartment layouts; Main apartment features living room with French doors, formal dining room, eat‑in kitchen with granite countertops, 3 bedrooms, and an updated full bath; Second‑floor apartment includes living room, dining room, kitchen, 1 bedroom, and a full bath with hardwood floors and natural light
