Updated Two-Unit
New
For Sale
$185,000
110 W 3rd Street, Corning, NY 14830
Residential, Corning, NY
Property Size1,632 SF
Lot Size0.12 Acres
Price / SF$113.36
Days on Market5
Property Features for 110 W 3rd Street
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning description
Residential 2 Unit
Bedrooms
4
Bathrooms
2
Full bathrooms
2
Rooms
Bedroom 4, Basement, Bedroom 3, Bedroom 1, Bedroom 2, Bathroom 1, Bathroom 2
Parking features
On Street
Patio and Porch features
Porch
Appliances
GasWaterHeater
Lot features
Rectangular, Rectangular Lot, Residential Lot
Elementary school district
Corning-Painted Post
Middle school district
Corning-Painted Post
High school district
Corning-Painted Post
Directions
From Denison turn left on Pine St., W third take a right, drive all of the way down to 110, duplex will be on the left.
Subdivision
Corning-City-460300
Standard status
Active
APN
460300-317-060-0001-017-000
Size
1,632 SF
Lot size
0.12 Acres
Taxes and HOA fees
Tax Annual Amount
4878
Utilities
Heating system
Forced Air, Natural Gas
Water source
Public
Building Details
Year built
1905
Floors in Building
2
Number of units
2
Flooring type
Varies, Laminate, Hardwood
Building materials
VinylSiding
Roof type
Shingle
Listing Agency:
Keller Williams Realty Southern Tier & Finger Lakes
(607) 795-2900
Listed By:
Amanda Patterson · License #10401327143
(607) 793-8187
Added: Sep 15
Changed: Sep 16
Last Checked: Sep 19 at 1:06AM
MLS# R1715307
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 1,632-square-foot duplex contains upper and lower residences within a 1905 building on a 0.1196-acre lot. The property includes four bedrooms, two bathrooms, a basement, and a porch, with vinyl siding, a shingle roof, natural-gas forced-air heat, and public water. On-street parking serves the property, and the units have separate utilities.
Recent work includes a wall furnace and washer in the upper residence. The lower residence has newer light fixtures, a washer and dryer, a new refrigerator, and updated dining-room flooring. The upper tenancy is month to month, while the lower residence is available for owner occupancy for a limited time. The property is located near the center of Corning, in Steuben County, New York.
Recent work includes a wall furnace and washer in the upper residence. The lower residence has newer light fixtures, a washer and dryer, a new refrigerator, and updated dining-room flooring. The upper tenancy is month to month, while the lower residence is available for owner occupancy for a limited time. The property is located near the center of Corning, in Steuben County, New York.
Key Highlights
- 1,632‑square‑foot duplex on a 0.1196‑acre lot
- Upper and lower residences with separate utilities
- Four bedrooms, two bathrooms, and a basement
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
$11,044
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
5.97%
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%
$220,880
$220.9K
Cap Rate 7%
$157,771
$157.8K
Cap Rate 9%
$122,711
$122.7K
Market Conditions
NOI Build-Up for 1,632 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
$16.6K $10.20/SF
− Vacancy
−$869 −$0.53/SF
EGI
$15.8K $9.67/SF
− OpEx
−$4.7K −$2.90/SF
NOI
$11.0K $6.77/SF
Area
Steuben County, NY
Vacancy
5.22%
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%
$220,880
Cap Rate 7%
$157,771
Cap Rate 9%
$122,711
Alternative Uses
Best Use
Multifamily LT 5
$157.8K
$138.1K – $184.1K
NOI $11,044 @ 7.0% cap · market cap 5.97%
Second Best
Apartment 5plus
$145.4K
$127.2K – $169.7K
NOI $10,179 @ 7.0% cap · market cap 5.50%
Theoretical Best
Office A
$397.9K
$348.1K – $464.2K
NOI $27,850 @ 7.0% cap · market cap 15.05%
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
727
Businesses Nearby
Explore this area
Business Placement
Demographics for 14830, NY
18,949
Population
9,324
Households
2
Avg Household Size
40
Median Age
41%
College-Educated
96%
High-School Grad
90.6 sq mi
ZIP Area
209
Density / Sq Mi
$73,831
Median Household Income
$48,331
Median Earnings
$997
Median Rent
$168,100
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in Northeast region
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Frequently Asked Questions
What type of property is this?
Duplex - Upper and lower residences offer separate utilities, recent improvements, and a porch near central Corning.
Where is this duplex located?
The property is located at 110 W 3rd Street Corning, NY.
What is the asking price?
The asking price for this property is $185,000.
What are key features of this property?
This property features: 1,632‑square‑foot duplex on a 0.1196‑acre lot; Upper and lower residences with separate utilities; Four bedrooms, two bathrooms, and a basement
