Duplex with Two
For Sale
$200,000
Pending
15-19 Pearl Street, Newfield, NY 14867
MULTI_FAMILY - Newfield, NY
Property Size1,419 SF
Lot Size0.72 Acres
Days on Market15
Property Features for 15-19 Pearl Street
General Information
Property type
Residential Multi Family
Property subtype
Other
Bedrooms
4
Bathrooms
3
Full bathrooms
3
Rooms
Bathroom 1, Bedroom 4, Bedroom 1, Bedroom 2, Bathroom 3, Bathroom 2, Bedroom 3
Appliances
ElectricWaterHeater
Lot features
Rectangular, Rectangular Lot
Elementary school
Newfield Elementary
Elementary school district
Newfield
Middle school district
Newfield
High school district
Newfield
Directions
Take Main St through Newfield, turn left onto Pearl St, green houses on left.
Subdivision
Newfield-503400
Standard status
Pending
APN
503400-014-000-0002-023-000-0000
Size
1,419 SF
Lot size
0.72 Acres
Taxes and HOA fees
Tax Annual Amount
4100
Utilities
Sewer type
Septic Tank
Heating system
Forced Air, Natural Gas
Water source
Public
Amenities
enclosed porch
gardens
gravel pathways
tool shed
storage shed
Building Details
Year built
1930
Floors in Building
1
Number of units
2
Flooring type
Varies, Tile, Carpet
Building materials
VinylSiding
Listing Agency:
Keller Williams Realty
(607) 275-5600
Listed By:
Rio Lange · License #10401301832
(607) 275-5600
Added: Jul 29
Changed: Aug 5
Last Checked: Aug 12 at 9:06AM
MLS# R1702242
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.
Duplex-style property at 15-19 Pearl Street in Newfield, NY featuring two maintained residences on a double-lot setting. The homes include an adorable one-bedroom bungalow and a well-kept 3-bedroom mobile home, connected by a quiet gravel pathway lined with grape vines. Multiple fenced garden areas, expansive lawn space, mature trees and flowers, and charming outbuildings create a park-like outdoor environment.
The mobile home includes an efficient layout with updates such as a remodeled kitchen and tiled bathrooms. A spacious 12' mudroom addition provides excellent everyday storage. The bungalow offers a bright kitchen, cozy living room, an updated tiled bathroom, and a sunny enclosed porch filled with natural light.
Additional property improvements include a full two-car garage with overhead openers, an 8x24 tool shed, and an additional storage shed. The home is served by public water and a septic tank, with forced air heating and natural gas, plus an electric water heater.
The mobile home includes an efficient layout with updates such as a remodeled kitchen and tiled bathrooms. A spacious 12' mudroom addition provides excellent everyday storage. The bungalow offers a bright kitchen, cozy living room, an updated tiled bathroom, and a sunny enclosed porch filled with natural light.
Additional property improvements include a full two-car garage with overhead openers, an 8x24 tool shed, and an additional storage shed. The home is served by public water and a septic tank, with forced air heating and natural gas, plus an electric water heater.
Key Highlights
- One‑bedroom bungalow plus a three‑bedroom mobile home on the same property
- 0.72‑acre double‑lot parcel with fenced gardens, grape‑vine lined gravel pathway
- 12' mudroom addition for storage and everyday functionality
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
$17,406
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
8.70%
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%
$348,120
$348.1K
Cap Rate 7%
$248,657
$248.7K
Cap Rate 9%
$193,400
$193.4K
Market Conditions
NOI Build-Up for 1,419 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
$33.0K $23.28/SF
− Vacancy
−$1.4K −$0.98/SF
EGI
$31.6K $22.30/SF
− OpEx
−$14.2K −$10.04/SF
NOI
$17.4K $12.27/SF
Area
Tompkins County, NY
Vacancy
4.20%
Lease Rate
$23.28 /SF/Yr
Expense Ratio
45.00%
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%
$348,120
Cap Rate 7%
$248,657
Cap Rate 9%
$193,400
Alternative Uses
Best Use
Multifamily LT 5
$268.3K
$234.8K – $313.0K
NOI $18,782 @ 7.0% cap · market cap 9.39%
Second Best
Apartment 5plus
$248.7K
$217.6K – $290.1K
NOI $17,406 @ 7.0% cap · market cap 8.70%
Theoretical Best
Office A
$442.8K
$387.4K – $516.6K
NOI $30,995 @ 7.0% cap · market cap 15.50%
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
61
Businesses Nearby
Explore this area
Business Placement
Demographics for 14867, NY
5,490
Population
2,488
Households
2.2
Avg Household Size
43
Median Age
31%
College-Educated
96%
High-School Grad
67.7 sq mi
ZIP Area
81
Density / Sq Mi
$67,644
Median Household Income
$48,494
Median Earnings
$1,163
Median Rent
$163,800
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 - Duplex-style property with a one-bedroom bungalow and a three-bedroom mobile home, plus garage storage and public utilities.
Where is this duplex located?
The property is located at 15-19 Pearl Street Newfield, NY.
What is the asking price?
The asking price for this property is $200,000.
What are key features of this property?
This property features: One‑bedroom bungalow plus a three‑bedroom mobile home on the same property; 0.72‑acre double‑lot parcel with fenced gardens, grape‑vine lined gravel pathway; 12' mudroom addition for storage and everyday functionality
