5 Milbank Road – New Dorp, Staten Island
2
BEDROOMS
1
BATHROOMS
516
SQ FT
4,800
LOT/TYPE
1930
BUILT
$4,056
ANNUAL TAXES
A Rare Multi-Parcel Opportunity
This isn’t just a home — it’s a strategic investment. 5 Milbank Road sits on three separate lots totaling 4,800 square feet in an R-3X zone, offering enormous potential for development, subdivision, or long-term rental income.
Immediate Cash Flow
Currently tenant-occupied at $2,600 per month — $31,200 in annual rental income from day one. Whether you’re looking for a turnkey investment or a future development play, this property delivers.
The Home
The charming bungalow features 2 bedrooms, 1 full bathroom, and a finished basement with separate entrance. The eat-in galley kitchen includes modern appliances. Outside, enjoy a deck, patio, and off-street parking surrounded by yards on all three sides.
Key Features
Three Lots
4,800 sqft across three separate parcels — R-3X zoning
Rental Income
Currently rented at $2,600/month — $31,200 annual
Finished Basement
Separate entrance for additional living space
Development Potential
R-3X zoning allows subdivision or redevelopment
Outdoor Living
Deck, patio, and yards on all three sides
Turnkey Ready
All major appliances included
Home Systems & Infrastructure
Heating
● Hot water heat
● Natural gas
● Recently serviced
Cooling
● Window units
● Energy efficient
● All rooms covered
Electrical
● 220 volt service
● Updated wiring
● Modern capacity
Water & Sewer
● City sewer
● Public water
● Well maintained
Structure
● Vinyl siding
● Single story
● Solid foundation
Parking
● Off-street parking
● Driveway
● Easy access
Financial Details
List Price
$519,000
Annual Taxes
$4,056
Rental Income
$2,600/mo
Annual ROI
~6%
Zoning
R-3X
Lots
3 Parcels
New Dorp: Staten Island Living
Located in the heart of New Dorp on Staten Island’s Mid-Island, 5 Milbank Road offers suburban charm with urban convenience. The neighborhood is known for tree-lined streets, diverse dining along New Dorp Lane, and easy access to the Staten Island Expressway.
Commuters enjoy quick access to the SIR train and express buses to Manhattan. Cedar Grove Beach and the FDR Boardwalk are just minutes away.
Take a Virtual Tour
Experience 5 Milbank Road from the comfort of your home
Gallery
Let’s Open The Door
The Bridge and Boro Team
Real Broker LLC
About Your Listing Agent
Joseph (Joe) Ranola
Associate Broker & Team Leader | The Bridge and Boro Team at Real Broker LLC
A Staten Island native with nearly a decade of real estate experience, Joe Ranola knows New Dorp inside and out. He has successfully closed multiple deals in the New Dorp and Mid-Island corridor, including sales on Grissom Avenue, Wainwright Avenue, and along Hylan Boulevard. With 70+ five-star Google reviews and 50+ happy clients, his track record speaks for itself — and the majority of his business comes from referrals and repeat clients. See Joe’s sold listings →
Joe treats every listing like his own home. From pre-listing preparation and professional staging guidance to premium photography, immersive virtual tours, and targeted digital marketing campaigns, he ensures every property gets the attention it deserves. He has broken multiple pricing records across Staten Island and consistently helps homeowners maximize their property value through strategic pricing and expert negotiation.
Whether you are selling a single-family home in New Dorp, a colonial in Grant City, or an investment property anywhere on the Mid-Island, Joe brings the local knowledge, market expertise, and personalized attention that gets deals done at the best possible price.
Thinking of selling in New Dorp? Call Joe at 917-905-2541 or email [email protected] for a free, no-obligation home valuation.