Renovated Two-Family
For Sale
$1,595,000
708 Hylan Boulevard, Staten Island, NY 10305
Residential, Cape, Staten Island, NY
Property Size2,553 SF
Lot Size0.17 Acres
Price / SF$624.76
Days on Market11
Property Features for 708 Hylan Boulevard
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning
R3-2
Bathrooms
2
Full bathrooms
2
Rooms
Bathroom 2, Bathroom 1
Parking features
Garage
Interior features
Central Air
Basement
Full, Finished
Subdivision
Grasmere
Standard status
Active
Size
2,553 SF
Lot size
0.17 Acres
Taxes and HOA fees
Tax Annual Amount
8598
Building Details
Year built
1960
Floors in Building
1
Number of units
2
Flooring type
Hardwood
Building materials
Brick
Roof type
Shingle
Architectural style
Other
Listing Agency:
J. Milo Real Estate Ltd
(718) 872-9300
Listed By:
Jenine Milo · License #10301120597
(718) 501-4494
Added: Sep 21
Changed: Sep 22
Last Checked: Oct 1 at 3:06PM
MLS# 504749
Copyright © 2026 Brooklyn New York Multiple Listing Service. 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 renovated two-family property includes 2,553 square feet of above-grade living space and a 1,157-square-foot finished lower level, based on a certified appraisal. The primary unit offers formal living and dining rooms, a brick fireplace, updated kitchen and bath areas, bedrooms, travertine flooring, and recessed lighting. The second apartment also features an updated kitchen, marble bath, bedrooms, living space, travertine floors, and recessed lighting. The lower level includes a recreation room and boiler/laundry area, with a separate exterior entrance and plumbing rough-ins.
The property has brick and frame construction, a shingle roof, central air, updated electrical and plumbing, and an oversized two-car built-in garage with direct interior access. Outdoor features include a patio and rear yard. It is located on Hylan Boulevard in Staten Island, minutes from the Verrazzano Bridge, with access to the Staten Island Expressway, shopping, dining, and transportation.
The property has brick and frame construction, a shingle roof, central air, updated electrical and plumbing, and an oversized two-car built-in garage with direct interior access. Outdoor features include a patio and rear yard. It is located on Hylan Boulevard in Staten Island, minutes from the Verrazzano Bridge, with access to the Staten Island Expressway, shopping, dining, and transportation.
Key Highlights
- 2,553 Sq Ft of above‑grade living space plus a 1,157 Sq Ft finished lower level
- Two updated residential units with custom kitchens, quartz countertops, and stainless appliances
- 1,157 SqFt lower level includes Recreation Room and Boiler/Laundry area
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
$67,030
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
4.20%
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%
$1,340,600
$1.3M
Cap Rate 7%
$957,571
$957.6K
Cap Rate 9%
$744,778
$744.8K
Market Conditions
NOI Build-Up for 2,553 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
$104.2K $40.80/SF
− Vacancy
−$8.4K −$3.29/SF
EGI
$95.8K $37.51/SF
− OpEx
−$28.7K −$11.25/SF
NOI
$67.0K $26.26/SF
Area
ZIP 10305
Vacancy
8.07%
Lease Rate
$40.80 /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%
$1,340,600
Cap Rate 7%
$957,571
Cap Rate 9%
$744,778
Alternative Uses
Best Use
Multifamily LT 5
$957.6K
$837.9K – $1.12M
NOI $67,030 @ 7.0% cap · market cap 4.20%
Second Best
Apartment 5plus
$881.0K
$770.9K – $1.03M
NOI $61,670 @ 7.0% cap · market cap 3.87%
Theoretical Best
Office A
$1.22M
$1.07M – $1.42M
NOI $85,271 @ 7.0% cap · market cap 5.35%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
2
Residential units
Yes
Highway access
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
896
Businesses Nearby
Explore this area
Business Placement
Demographics for 10305, NY
44,008
Population
16,850
Households
2.6
Avg Household Size
41
Median Age
32%
College-Educated
85%
High-School Grad
4.0 sq mi
ZIP Area
11,002
Density / Sq Mi
$86,294
Median Household Income
$52,183
Median Earnings
$1,656
Median Rent
$627,200
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in Northeast region
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Frequently Asked Questions
What type of property is this?
Duplex - Two updated residential units with a finished lower level, attached garage, patio, and rear yard.
Where is this duplex located?
The property is located at 708 Hylan Boulevard Staten Island, NY.
What is the asking price?
The asking price for this property is $1,595,000.
What are key features of this property?
This property features: 2,553 Sq Ft of above‑grade living space plus a 1,157 Sq Ft finished lower level; Two updated residential units with custom kitchens, quartz countertops, and stainless appliances; 1,157 SqFt lower level includes Recreation Room and Boiler/Laundry area
