Renovated Two-Family Home with
For Sale
Contact for pricing
Pending
74 Targee Street, Staten Island, NY 10304
Renovated 2-family home with finished basement and detached office.
Property Size2,000 SF
Lot Size0.11 Acres
Days on Market115
Property Features for 74 Targee Street
General Information
Standard status
Pending
Size
2,000 SF
Lot size
0.11 Acres
Property subtype
Multifamily
Zoning
R3-2
Building Details
Year Built
1935
Stories
3
Units
3
Listing Agency:
Homes R US Realty Of NY Inc
Listed By:
Gennady (Gary) Papirov · License #NY
(917) 856-2012
Source:
Crexi
Added: May 14
Changed: Aug 8
Last Checked: Jul 24 at 2:44PM
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 Homes R US Realty Of NY Inc
Investment Insights
Based on property information with market context.
This renovated two-family home is located on a 5,000-square-foot lot. The property includes a full-finished basement, spacious apartments, and a detached office/workspace structure. The basement features radiant heated floors. The property also has baseboard heat, a large backyard, and five attached garages. The property offers multiple flexible-use spaces suitable for storage, workspace, hobbies, or extended living needs. It is located near public transportation, shopping, restaurants, schools, and major highways. The property has income-producing potential and is suitable for investors or owner-occupants seeking upside potential and additional garage income. The property size is 2000 square feet.
Key Highlights
- Fully renovated 2‑family home with income‑producing potential.
- Detached office/workspace with heated floors.
- Full finished basement with radiant heated floors.
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
$49,422
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
5.49%
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%
$988,440
$988.4K
Cap Rate 7%
$706,029
$706.0K
Cap Rate 9%
$549,133
$549.1K
Market Conditions
NOI Build-Up for 2,000 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
$76.8K $38.40/SF
− Vacancy
−$6.2K −$3.10/SF
EGI
$70.6K $35.30/SF
− OpEx
−$21.2K −$10.59/SF
NOI
$49.4K $24.71/SF
Area
ZIP 10304
Vacancy
8.07%
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%
$988,440
Cap Rate 7%
$706,029
Cap Rate 9%
$549,133
Alternative Uses
Best Use
Multifamily LT 5
$706.0K
$617.8K – $823.7K
NOI $49,422 @ 7.0% cap · market cap 5.49%
Second Best
Apartment 5plus
$647.0K
$566.2K – $754.9K
NOI $45,293 @ 7.0% cap · market cap 5.03%
Theoretical Best
Office A
$954.3K
$835.0K – $1.11M
NOI $66,800 @ 7.0% cap · market cap 7.42%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,374
Businesses Nearby
Explore this area
Business Placement
Demographics for 10304, NY
46,944
Population
17,524
Households
2.7
Avg Household Size
38
Median Age
31%
College-Educated
84%
High-School Grad
3.5 sq mi
ZIP Area
13,413
Density / Sq Mi
$71,506
Median Household Income
$41,752
Median Earnings
$1,516
Median Rent
$659,900
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 - Renovated 2-family home with finished basement and detached office.
Where is this duplex located?
The property is located at 74 Targee Street Staten Island, NY.
What is the asking price?
The asking price for this property is $899,900.
What are key features of this property?
This property features: Fully renovated 2‑family home with income‑producing potential.; Detached office/workspace with **heated floors**.; Full finished basement with radiant **heated floors**.
