Two-Family Home with
For Sale
$1,300,000
898 Westwood Avenue, Staten Island, NY 10314
Mint-condition two-family home with a finished basement, built-in garage, and a full-width rear balcony.
Property Size2,275 SF
Price / SF$571.43
Days on Market224
Property Features for 898 Westwood Avenue
General Information
Standard status
Active
Size
2,275 SF
Property subtype
MultiFamily
Zoning
R-31
Additional Details
Highway Access
Yes
Multifamily Units
2
Taxes and HOA fees
Annual Taxes
$8,475
Amenities
Eat In
Full Bath
3
Gas
Forced Air
Combination
4.00
Finished
Full
Central
Brick, Vinyl Siding
Building Details
Year Built
1970
Listing Agency:
Katz Realty NYC Inc.
(718) 702-8747
Listed By:
Andres D David · License #10301218111
(718) 702-8747
Source:
Compass
Added: Jan 11
Changed: Aug 8
Last Checked: Jul 23 at 6:20PM
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 Katz Realty NYC Inc.
Investment Insights
Based on property information with market context.
Move-in ready two-family home in mint condition featuring a finished basement and a built-in garage. The upper layout includes an updated full bathroom, three rear bedrooms, and a master bedroom with an en-suite half bath. Living areas include a spacious L-shaped living room/dining room, while the kitchen is described as having granite countertops, a vaulted ceiling, and skylights. A balcony runs along the entire back width of the house, and the property also includes a large grassy backyard.
The ground floor offers a large two-bedroom apartment along with a den featuring sliders to a deck and yard. The finished basement includes a recreation area with a summer kitchen, a laundry room, a 3/4 bathroom, and a large living area. The property is described as close to SIE and express buses.
Overall, the home is configured to support either owner-occupancy with rental income or full use as a single residence, depending on how you choose to utilize the two-family setup.
The ground floor offers a large two-bedroom apartment along with a den featuring sliders to a deck and yard. The finished basement includes a recreation area with a summer kitchen, a laundry room, a 3/4 bathroom, and a large living area. The property is described as close to SIE and express buses.
Overall, the home is configured to support either owner-occupancy with rental income or full use as a single residence, depending on how you choose to utilize the two-family setup.
Key Highlights
- 1970‑built two‑family home with a full finished basement and built‑in garage
- Central air conditioning and gas forced‑air heat
- Eat‑in kitchen with granite countertops, vaulted ceiling, and skylights
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
$62,050
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
4.77%
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%
$1,241,000
$1.2M
Cap Rate 7%
$886,429
$886.4K
Cap Rate 9%
$689,444
$689.4K
Market Conditions
NOI Build-Up for 2,275 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
$92.8K $40.80/SF
− Vacancy
−$4.2K −$1.84/SF
EGI
$88.6K $38.96/SF
− OpEx
−$26.6K −$11.69/SF
NOI
$62.1K $27.27/SF
Area
ZIP 10314
Vacancy
4.50%
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%
$1,241,000
Cap Rate 7%
$886,429
Cap Rate 9%
$689,444
Alternative Uses
Best Use
Multifamily LT 5
$886.4K
$775.6K – $1.03M
NOI $62,050 @ 7.0% cap · market cap 4.77%
Second Best
Apartment 5plus
$822.0K
$719.2K – $959.0K
NOI $57,537 @ 7.0% cap · market cap 4.43%
Theoretical Best
Office A
$1.09M
$949.8K – $1.27M
NOI $75,986 @ 7.0% cap · market cap 5.85%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
933
Businesses Nearby
Explore this area
Business Placement
Demographics for 10314, NY
92,157
Population
33,554
Households
2.7
Avg Household Size
41
Median Age
37%
College-Educated
89%
High-School Grad
13.0 sq mi
ZIP Area
7,089
Density / Sq Mi
$104,655
Median Household Income
$58,769
Median Earnings
$1,726
Median Rent
$665,500
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 - Mint-condition two-family home with a finished basement, built-in garage, and a full-width rear balcony.
Where is this duplex located?
The property is located at 898 Westwood Avenue Staten Island, NY.
What is the asking price?
The asking price for this property is $1,300,000.
What are key features of this property?
This property features: 1970‑built two‑family home with a full finished basement and built‑in garage; Central air conditioning and gas forced‑air heat; Eat‑in kitchen with granite countertops, vaulted ceiling, and skylights
