Flip report generated Feb 24, 2025
The Flip Potential of
1020 Richmond Rd Staten Island, NY 10304
is medium.
Current Specs
Multi-Family
7 Units
7 Bed / 3 Bath
3,692 sqft
$135 per sqft
Estimated Value$499,000
Flip Advice
This Staten Island multi-family property has intriguing potential. With 7 beds, 3 baths, and 3,692 sqft on a generous 8,479 sqft lot, it's got space to work with. Built in 1899, it likely needs updates, but that's where the opportunity lies. The $499K list price seems reasonable, especially considering the comps suggest a valuation around $575K-$587K post-improvements.
Consider pursuing this flip, but tread carefully. Focus on modernizing kitchens and baths while preserving any charming period features. The East Shore location is solid, and multi-family properties can be attractive to investors. However, be prepared for potential challenges with an older building. Get thorough inspections and accurate renovation cost estimates before committing.
The accuracy of the Frontflip report and its applicability to your circumstances are not guaranteed. This calculator is offered for educational purposes only, and is not a substitute for professional advice. All figures provided by the Frontflip calculator are estimates only and are not reflective of what your actual results may be.