Duplex with Covered
For Sale
$199,000
216 Court Street, Little Valley, NY 14755
Residential, Little Valley, NY
Property Size2,255 SF
Lot Size0.25 Acres
Price / SF$88.25
Days on Market45
Property Features for 216 Court Street
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning description
Residential 2 Unit
Bedrooms
5
Bathrooms
2
Full bathrooms
2
Rooms
Bedroom 4, Bathroom 1, Bedroom 5, Bathroom 2, Bedroom 2, Basement, Bedroom 1, Bedroom 3
Parking features
On Street, Paved or Surfaced
Patio and Porch features
Porch
Interior features
CeilingFans
Appliances
GasWaterHeater
Lot features
Corner Lot, Rectangular, Rectangular Lot, Residential Lot
Elementary school district
Cattaraugus-Little Valley
Middle school district
Cattaraugus-Little Valley
High school district
Cattaraugus-Little Valley
Directions
Little Valley: On the corner of Court St and 7th St.
Subdivision
Little Valley-Village-045401
Standard status
Active
APN
045401-054-064-0001-027-000-0000
Size
2,255 SF
Lot size
0.25 Acres
Taxes and HOA fees
Tax Annual Amount
2131
Utilities
Heating system
Forced Air, Natural Gas, Baseboard
Water source
Public
Amenities
laundry in each unit
covered front porches
off street parking
Building Details
Year built
1920
Floors in Building
2
Number of units
2
Flooring type
Laminate, Varies, Carpet
Building materials
VinylSiding
Roof type
Metal
Architectural style
Other
Listing Agency:
Signature Properties
(607) 796-9817
Listed By:
Julie M. (Jules) Costello · License #10401282603
(631) 433-7702
Added: Aug 7
Changed: Sep 16
Last Checked: Sep 20 at 9:06PM
MLS# R1705406
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 1920 duplex contains two residential units within a 2,255-square-foot building on a 0.2524-acre corner parcel. Each unit has its own laundry area, while the property also provides two covered front porches and a large yard. Interior finishes include carpet and laminate flooring, with natural-gas baseboard and forced-air heating, ceiling fans, and a gas water heater. The building has vinyl siding, a metal roof, and public water service.
Located at 216 Court Street in Little Valley, the property offers both paved or surfaced parking and on-street parking. The two-unit configuration, separate laundry amenities, outdoor space, and covered porch areas provide clearly defined features for a residential income property.
Located at 216 Court Street in Little Valley, the property offers both paved or surfaced parking and on-street parking. The two-unit configuration, separate laundry amenities, outdoor space, and covered porch areas provide clearly defined features for a residential income property.
Key Highlights
- Two‑unit duplex built in 1920
- 2,255 square feet on a 0.2524‑acre lot
- Separate laundry area in each unit
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
$14,491
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
7.28%
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%
$289,820
$289.8K
Cap Rate 7%
$207,014
$207.0K
Cap Rate 9%
$161,011
$161.0K
Market Conditions
NOI Build-Up for 2,255 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
$23.0K $10.20/SF
− Vacancy
−$2.3K −$1.02/SF
EGI
$20.7K $9.18/SF
− OpEx
−$6.2K −$2.75/SF
NOI
$14.5K $6.43/SF
Area
Cattaraugus County, NY
Vacancy
10.00%
Lease Rate
$10.20 /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%
$289,820
Cap Rate 7%
$207,014
Cap Rate 9%
$161,011
Alternative Uses
Best Use
Multifamily LT 5
$207.0K
$181.1K – $241.5K
NOI $14,491 @ 7.0% cap · market cap 7.28%
Second Best
Apartment 5plus
$194.5K
$170.2K – $227.0K
NOI $13,618 @ 7.0% cap · market cap 6.84%
Theoretical Best
Healthcare Medical
$445.7K
$390.0K – $520.0K
NOI $31,197 @ 7.0% cap · market cap 15.68%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
108
Businesses Nearby
Explore this area
Business Placement
Demographics for 14755, NY
2,855
Population
1,487
Households
1.9
Avg Household Size
44
Median Age
15%
College-Educated
89%
High-School Grad
73.9 sq mi
ZIP Area
39
Density / Sq Mi
$61,346
Median Household Income
$39,316
Median Earnings
$694
Median Rent
$116,100
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Multifamily in Northeast region
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Frequently Asked Questions
What type of property is this?
Duplex - Two separate units include individual laundry areas, paved parking, and access to a shared outdoor yard.
Where is this duplex located?
The property is located at 216 Court Street Little Valley, NY.
What is the asking price?
The asking price for this property is $199,000.
What are key features of this property?
This property features: Two‑unit duplex built in 1920; 2,255 square feet on a 0.2524‑acre lot; Separate laundry area in each unit
