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    88 Gorton St Corning, NY 14830

    View on Map
    Sponsored
    For Sale
    Under Contract
    $249,000

    MULTI_FAMILY - Corning, NY

    Property size:
    2,268 SF
    Lot size:
    0.18 Acres
    Days on Market:
    3
    Last Refresh:
    Mar 6 at 12:06 pm

    Property Features for 88 Gorton St

    General Information

    Special listing conditions
    Standard
    Property type
    Residential Multi Family
    Property subtype
    Other
    TransactionType
    Standard
    Standard status
    Active Under Contract
    Rooms
    Bathroom 1, Basement, Bedroom 1, Bedroom 2, Bathroom 2, Bedroom 3, Bathroom 3
    Bedrooms
    3
    Bathrooms
    3
    APN
    460300-299-020-0004-067-000
    Patio and Porch features
    Patio, Deck
    Exterior features
    Deck, FullyFenced, Patio, PrivateYard
    Fencing
    Fenced
    Fireplace
    1
    Appliances
    GasWaterHeater
    Size
    2,268 SF
    Lot size
    0.18 Acres

    Utilities

    Heating system
    Other (Heating), Natural Gas, Forced Air
    Cooling system
    Wall Unit(s)
    Water source
    Public

    Building Details

    Year built
    1900
    Floors in Building
    2
    Number of units
    2
    Flooring type
    Tile, Carpet, Hardwood, Varies, Vinyl
    Building materials
    WoodSiding
    Roof type
    Asphalt

    We can help!

    Listing Contact
    Michaela K. Rossettie Azemi

    Signature Properties (607) 796-9817

    Listing agent Michaela K. Rossettie Azemi (607) 796-9817 License #10301221839

    Listing date Mar 4, 2026

    MLS# R1657622 Listing URL

    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.

    Learn more

    Property Insight Report

    Overview

    Charming Two-Unit Home in Corning

    This two-unit home is centrally located within walking distance of the Corning Museum of Glass. The property features multiple floors of living space and includes updates while retaining original character, such as stained glass windows. The home contains 4 bedrooms and 3 full baths. Each unit has updated kitchens and baths, and there are hardwood floors throughout. The first floor includes an office, den, or potential fifth bedroom. The second floor features a primary suite. The property includes a fully fenced yard. The property is currently a successful short or long-term two-unit investment property with negotiable furnishings. It could also be converted back to a single-family residence. The lot size is 0.1804 acres, and the property size is 2268 square feet.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Gorton Residence Travel Agency

    Suggested Use

    Real Estate Agency Law Firm Restaurant Spa & Massage Center Dental Office Hair Salon Nail Salon Building Supply Gym & Fitness Center Accounting Firm

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Corning
    County
    Steuben
    State
    New York
    Longitude
    -77.057513
    Latitude
    42.15302

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    FAQs

    What type of property is this?
    Duplex - Updated two-unit home near Corning Museum of Glass.
    Where is this duplex located?
    The property is located at 88 Gorton St Corning, NY.
    What is the asking price?
    The asking price for this property is $249,000.
    What are key features of this property?
    This property features: - Turnkey two-unit investment property with negotiable furnishings, suitable for short or long-term rentals.; - Centrally located within walking distance to the Corning Museum of Glass.; - Updated kitchens and baths in each unit.
    (607) 684-7156
    Request Owner's contact information
    88 Gorton St Corning, NY 14830
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    88 Gorton St Corning, NY 14830
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    We can help!
    Listing Contact
    Michaela K. Rossettie Azemi
    Real Estate License ID: 10301221839
    (607) 684-7156 (607) 796-9817
    Learn more
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