Triplex with Detached
For Sale
$225,000
Pending
1 Erie Street N, Macedon, NY 14502
Residential, Macedon, NY
Property Size2,338 SF
Lot Size0.32 Acres
Days on Market92
Property Features for 1 Erie Street N
General Information
Property type
Residential Multi Family
Property subtype
Other
Bedrooms
5
Bathrooms
3
Full bathrooms
3
Rooms
Bathroom 1, Bathroom 2, Bathroom 3, Bedroom 3, Bedroom 4, Basement, Bedroom 5, Bedroom 1, Bedroom 2
Parking features
Garage
Patio and Porch features
Porch
Interior features
NaturalWoodwork
Exterior features
EnclosedPorch, Porch
Appliances
GasWaterHeater
Lot features
Rectangular, Rectangular Lot, Residential Lot
Elementary school district
Palmyra-Macedon
Middle school district
Palmyra-Macedon
High school district
Palmyra-Macedon
Directions
Route 31 to North Erie Street, first home on the right.
Subdivision
Macedon-543000
Standard status
Pending
APN
543000-062-111-0008-889-934-0000
Size
2,338 SF
Lot size
0.32 Acres
Taxes and HOA fees
Tax Annual Amount
5973
Utilities
Heating system
Natural Gas, Forced Air
Water source
Public
Building Details
Year built
1870
Floors in Building
2
Number of units
3
Flooring type
Varies, Vinyl, Carpet
Building materials
CompositeSiding, CopperPlumbing
Roof type
Metal, Asphalt
Architectural style
Other
Listing Agency:
Doebler Realty, LLC
Listed By:
Kimberlee J. Meeks · License #10401248340
(315) 331-7070
Added: Jun 9
Changed: Sep 7
Last Checked: Sep 8 at 7:06PM
MLS# R1688848
Copyright © 2026 New York State Alliance of MLSs, LLC. 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.
This 2,338-square-foot triplex combines a primary residence with a separate two-story garage building. The main house contains two apartments, while the detached structure provides a third apartment positioned entirely above the garage. The property includes three bathrooms, a basement, an enclosed porch, and additional porch space. Natural woodwork, vinyl and carpet flooring, forced-air heating, and a gas water heater are among the existing features.
Set on 0.32 acres at 1 Erie Street N in Macedon, the property is served by public water and includes garage parking. The main house has a metal roof, updated electrical panels, a replaced sewer line, upgraded windows, and cosmetic improvements. Separate gas and electric meters serve the units, while water and garbage service are owner-paid. The building dates to 1870 and is located within the Palmyra-Macedon School District.
Set on 0.32 acres at 1 Erie Street N in Macedon, the property is served by public water and includes garage parking. The main house has a metal roof, updated electrical panels, a replaced sewer line, upgraded windows, and cosmetic improvements. Separate gas and electric meters serve the units, while water and garbage service are owner-paid. The building dates to 1870 and is located within the Palmyra-Macedon School District.
Key Highlights
- Three‑unit configuration with two apartments in the main house and one above the detached garage
- 2,338 square feet on a 0.32‑acre lot
- Detached 2‑story garage building with an upper‑level 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
$19,940
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
8.86%
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%
$398,800
$398.8K
Cap Rate 7%
$284,857
$284.9K
Cap Rate 9%
$221,556
$221.6K
Market Conditions
NOI Build-Up for 2,338 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
$32.3K $13.80/SF
− Vacancy
−$3.8K −$1.62/SF
EGI
$28.5K $12.18/SF
− OpEx
−$8.5K −$3.66/SF
NOI
$19.9K $8.53/SF
Area
Wayne County, NY
Vacancy
11.71%
Lease Rate
$13.80 /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%
$398,800
Cap Rate 7%
$284,857
Cap Rate 9%
$221,556
Alternative Uses
Best Use
Multifamily LT 5
$284.9K
$249.3K – $332.3K
NOI $19,940 @ 7.0% cap · market cap 8.86%
Second Best
Apartment 5plus
$251.2K
$219.8K – $293.1K
NOI $17,587 @ 7.0% cap · market cap 7.82%
Theoretical Best
Office A
$629.8K
$551.1K – $734.8K
NOI $44,087 @ 7.0% cap · market cap 19.59%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
3
Residential units
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
178
Businesses Nearby
Explore this area
Business Placement
Demographics for 14502, NY
10,760
Population
4,769
Households
2.3
Avg Household Size
43
Median Age
41%
College-Educated
94%
High-School Grad
35.8 sq mi
ZIP Area
301
Density / Sq Mi
$83,224
Median Household Income
$57,038
Median Earnings
$999
Median Rent
$219,200
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?
Triplex - Three separate residences include two apartments in the main house and a private upper-level unit above the garage.
Where is this triplex located?
The property is located at 1 Erie Street N Macedon, NY.
What is the asking price?
The asking price for this property is $225,000.
What are key features of this property?
This property features: Three‑unit configuration with two apartments in the main house and one above the detached garage; 2,338 square feet on a 0.32‑acre lot; Detached 2‑story garage building with an upper‑level apartment
