Custom Two-Family
New
For Sale
$1,350,000
98 Raritan Avenue, Staten Island, NY 10304
Residential Income, Staten Island, NY
Property Size2,352 SF
Lot Size0.11 Acres
Price / SF$573.98
Days on Market5
Property Features for 98 Raritan Avenue
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Zoning
R3X
Bedrooms
5
Bathrooms
4
Full bathrooms
3
Half bathrooms
1
Rooms
Bedroom 1, Bathroom 4, Bathroom 3, Bedroom 2, Bedroom 5, Bedroom 4, Bathroom 1, Bathroom 2, Bedroom 3
Parking features
On Street, Driveway
Patio and Porch features
Patio
Interior features
Walk-In Closet(s), Ceiling Fan(s)
Basement
Finished
Lot features
Front Yard, Back Yard
Subdivision
Dongan Hills-Above Hylan
Standard status
Active
APN
03297-0009
Size
2,352 SF
Lot size
0.11 Acres
Taxes and HOA fees
Tax Annual Amount
11307
Utilities
Sewer type
Public Sewer
Heating system
Natural Gas, Hot Water(Heating)
Cooling system
Central Air
Amenities
solar panels
fenced yard
Building Details
Year built
2005
Floors in Building
3
Number of units
2
Building materials
Brick, Stucco, Vinyl Siding
Architectural style
Colonial
Listing Agency:
Tom Crimmins Realty, Ltd.
(718) 370-3200
Listed By:
John J Lauria
(917) 484-2080
Added: Aug 24
Changed: Aug 27
Last Checked: Aug 28 at 5:06AM
MLS# 2604786
Copyright © 2026 Staten Island Board of Realtors. 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.
Built in 2005, this 2,352-square-foot Colonial-style duplex occupies a 0.1148-acre lot measuring 50 by 100 feet. The primary residence includes four bedrooms, three bathrooms, hardwood floors, a living room, dining room, eat-in kitchen with custom cabinetry, pantry, family room with fireplace, deck access, and a full stand-up attic. The one-bedroom apartment has a separate entrance and utilities, along with a lock-off connection to the main residence.
Additional improvements include a basement office, large one-car garage, two driveways, paved parking areas, solar panels, and a fenced yard. The property has three-zone heating, two-zone central air conditioning, public sewer, and R3X zoning. It is located near the Staten Island Railroad and local and express bus service.
Additional improvements include a basement office, large one-car garage, two driveways, paved parking areas, solar panels, and a fenced yard. The property has three-zone heating, two-zone central air conditioning, public sewer, and R3X zoning. It is located near the Staten Island Railroad and local and express bus service.
Key Highlights
- 2,352 square feet on a 0.1148‑acre lot
- 50 by 100‑foot lot with fenced yard and deck
- Four‑bedroom main residence plus a one‑bedroom apartment
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
$58,120
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
4.31%
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%
$1,162,400
$1.2M
Cap Rate 7%
$830,286
$830.3K
Cap Rate 9%
$645,778
$645.8K
Market Conditions
NOI Build-Up for 2,352 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
$90.3K $38.40/SF
− Vacancy
−$7.3K −$3.10/SF
EGI
$83.0K $35.30/SF
− OpEx
−$24.9K −$10.59/SF
NOI
$58.1K $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%
$1,162,400
Cap Rate 7%
$830,286
Cap Rate 9%
$645,778
Alternative Uses
Best Use
Multifamily LT 5
$830.3K
$726.5K – $968.7K
NOI $58,120 @ 7.0% cap · market cap 4.31%
Second Best
Apartment 5plus
$760.9K
$665.8K – $887.7K
NOI $53,264 @ 7.0% cap · market cap 3.95%
Theoretical Best
Office A
$1.12M
$982.0K – $1.31M
NOI $78,557 @ 7.0% cap · market cap 5.82%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
1,622
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 - Brick-and-stucco residence with a separate one-bedroom apartment, private entrance, garage, fenced yard, and transit access.
Where is this duplex located?
The property is located at 98 Raritan Avenue Staten Island, NY.
What is the asking price?
The asking price for this property is $1,350,000.
What are key features of this property?
This property features: 2,352 square feet on a 0.1148‑acre lot; 50 by 100‑foot lot with fenced yard and deck; Four‑bedroom main residence plus a one‑bedroom apartment
