187 W FIRST Street Corning, NY 14830
MULTI_FAMILY - Other - Corning, NY
- Added:
- Jan 27, 2025
- Days on Market:
- 533
- Last Refresh:
- Jul 14 at 3:06 am
Property Features for 187 W FIRST Street
General Information
- Property type
- Residential Multi Family
- Property subtype
- Other
- Zoning
- Res
- Bedrooms
- 4
- Bathrooms
- 2
- Rooms
- Bathroom 1, Bedroom 2, Bathroom 2, Bedroom 3, Bedroom 1, Bedroom 4, Basement
- Parking features
- Driveway, Garage
- Patio and Porch features
- Deck
- Exterior features
- Deck
- Appliances
- FreeStandingRange, GasWaterHeater, Oven, Refrigerator
- Standard status
- Active
- APN
- 317.12-01-032.000
- Size
- 1,746 SF
- Lot size
- 0.12 Acres
Taxes and HOA fees
- Tax Annual Amount
- 4167
Utilities
- Heating system
- Forced Air, Natural Gas
- Water source
- Public
Building Details
- Year built
- 1910
- Floors in Building
- 2
- Number of units
- 2
- Flooring type
- Varies, Laminate, Carpet, Vinyl
- Building materials
- CompositeSiding
- Roof type
- Shingle
- Architectural style
- Other
Listing agent A. William Meiklejohn Iii License #40ME1174888 (607) 329-9128
Listing office Howard Hanna Corning 45 E MARKET ST, Corning, NY (607) 936-4663
Listing date Jan 27, 2025
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.
The property is conveniently located on the Corning city South Side at 187 W First Street in Corning, NY 14830. Both units are described as having views of downtown Corning. On-site updates include newer furnaces, a newer roof, and in the studio, a washer and dryer that convey.
For tenants or owner-occupants, the mix of a 3-bedroom layout and a renovated studio can support flexible living arrangements. The property’s improvements—such as new flooring and windows in the studio, plus newer furnaces and roof—are intended to reduce near-term replacement concerns and support day-to-day livability for occupants.
Key Highlights
- 2‑unit property with a 3‑bedroom, 1‑bath unit plus a renovated studio unit
- Both units feature a large deck and views of downtown Corning
- Studio unit includes new flooring and new windows, and washer & dryer convey
Local Financial Insights For Multifamily LT 5
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $17.8k | $10.20 |
| − Vacancy | −$930 | −$0.53 |
| EGI | $16.9k | $9.67 |
| − OpEx | −$5.1k | −$2.90 |
| NOI | $11.8k | $6.77 |
