3-Unit Residential Income
For Sale
$225,000
Pending
1 Erie Street N, Macedon, NY 14502
MULTI_FAMILY - Other - Macedon, NY
Property Size2,338 SF
Lot Size0.32 Acres
Days on Market52
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, Bedroom 3, Bedroom 5, Bathroom 2, Bathroom 3, Basement, Bedroom 2, Bedroom 4, Bedroom 1
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
Vinyl, Carpet, Varies
Building materials
CompositeSiding, CopperPlumbing
Roof type
Asphalt, Metal
Architectural style
Other
Listing Agency:
Doebler Realty, LLC
(315) 331-7070
Listed By:
Kimberlee J. Meeks · License #10401248340
(315) 331-7070
Added: Jun 9
Changed: Jul 14
Last Checked: Jul 30 at 3:06PM
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 3-unit residential income property includes a main house with two separate apartments and a detached, multi-story garage structure with a private third apartment on the second floor above the garage spaces. The property is set on a lot of about 0.32 acres.
According to the seller, recent improvements include a newer metal roof on the main house, sewer line work, an updated electrical system with newly installed panel boxes, upgraded windows, and various cosmetic improvements. Utility setups include tenant-paid gas and electric via separate gas and electric meters, while the owner pays water and garbage removal.
The layout provides privacy among tenants by separating the third unit above the detached garage, while the main house supports two additional apartments that are described as easy to rent. For buyers seeking an owner-occupant option, the configuration allows for living in one unit while collecting rent from the others. The listing also notes owner financing may be available for a well-qualified buyer with a 30% down payment, and the seller is reviewing offers on Tuesday, June 16, 2026.
According to the seller, recent improvements include a newer metal roof on the main house, sewer line work, an updated electrical system with newly installed panel boxes, upgraded windows, and various cosmetic improvements. Utility setups include tenant-paid gas and electric via separate gas and electric meters, while the owner pays water and garbage removal.
The layout provides privacy among tenants by separating the third unit above the detached garage, while the main house supports two additional apartments that are described as easy to rent. For buyers seeking an owner-occupant option, the configuration allows for living in one unit while collecting rent from the others. The listing also notes owner financing may be available for a well-qualified buyer with a 30% down payment, and the seller is reviewing offers on Tuesday, June 16, 2026.
Key Highlights
- 3‑family property at 1 N Erie St, Macedon, NY 14502 in Palmyra‑Macedon School District
- Gross monthly revenue of $3,100; includes the garage apartment and multiple rental units
- Owner will consider holding the mortgage for a well‑qualified buyer with 30% down (owner‑financing terms)
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 | $32.3k | $13.80 |
| − Vacancy | −$3.8k | −$1.62 |
| EGI | $28.5k | $12.18 |
| − OpEx | −$8.5k | −$3.66 |
| NOI | $19.9k | $8.53 |
2,338 SF · lease $13.80/SF/yr · vacancy 11.71% · expense 30.00%
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
Multi-tenant
Tenancy
Turnkey business
Opportunity
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
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Triplex - Three well-separated apartments with separate gas and electric meters, plus a detached garage apartment configuration.
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: 3‑family property at 1 N Erie St, Macedon, NY 14502 in Palmyra‑Macedon School District; Gross monthly revenue of $3,100; includes the garage apartment and multiple rental units; Owner will consider holding the mortgage for a well‑qualified buyer with 30% down (owner‑financing terms)
