Building Details

Building Size 1,680 SF

Year Built 1978

Buildings 1

Listing Agency: John Cook Real Estate LLC

Listed By: John M Cook · License #10491213480 Show Phone

Source: Highfallssir

Added: Aug 15 Changed: Oct 6 Last Checked: Oct 19 at 3:15PM

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Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of John Cook Real Estate LLC

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Investment Insights

Based on property information with market context.

This duplex at 11401 Partridge Road includes two apartments, each with 2 bedrooms and 1 bath, across approximately 1.83 wooded acres. The lower residence has an updated kitchen and bathroom, while the upper residence features cathedral ceilings and sliding doors opening onto a deck. Each unit has its own laundry area, utilities, and heating system. A new roof and new heating systems add to the property's recent improvements.

The home is served by public water and a septic system. A fully fenced yard surrounds the immediate living area, with parking available outside the residence. Wooded acreage beyond the fenced section provides additional separation and natural surroundings. Built in 1978, the property offers two separate residential layouts within one building.

Key Highlights

• Two 2‑bedroom, 1‑bath apartments in a single duplex property
• Approximately 1.83 wooded acres
• Separate laundry areas, utilities, and heating systems for both units

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$10,802

Cap Rate

4.70%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$216,040 $216.0K

Cap Rate 7%

$154,314 $154.3K

Cap Rate 9%

$120,022 $120.0K

Is this asking price fair?

Market Conditions

NOI Build-Up for 1,680 SF

Gross rent

$23.2K $13.80/SF

− Vacancy

−$7.8K −$4.61/SF

EGI

$15.4K $9.19/SF

− OpEx

−$4.6K −$2.76/SF

NOI

$10.8K $6.43/SF

Area

Erie County, NY

Vacancy

33.44%

Lease Rate

$13.80 /SF/Yr

Expense Ratio

30.00%

Simulate Cap Rate and NOI

Suggested Prices Based on Cap Rates

Cap Rate 5%

$216,040

Cap Rate 7%

$154,314

Cap Rate 9%

$120,022

Alternative Uses

Best Use

Multifamily LT 5

$154.3K

$135.0K – $180.0K (±1% cap)

NOI $10,802 @ 7.0% cap · market cap 4.70%

Second Best

Apartment 5plus

$138.6K

$121.3K – $161.7K (±1% cap)

NOI $9,700 @ 7.0% cap · market cap 4.22%

Theoretical Best

Office A

$367.3K

$321.4K – $428.5K (±1% cap)

NOI $25,708 @ 7.0% cap · market cap 11.18%

Zoning and permitted uses should be independently verified with authorities. How Realmo checks its estimates

Property Analytics

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Lease Details

2

Residential units

Yes

Utilities to site

Location Intelligence

Trade Area within ½ mile

3

Businesses Nearby

Explore this area Business Placement

Demographics for 14080, NY

4,109

Population

2,108

Households

1.9

Avg Household Size

46

Median Age

21%

College-Educated

93%

High-School Grad

52.5 sq mi

ZIP Area

78

Density / Sq Mi

$76,674

Median Household Income

$44,847

Median Earnings

$748

Median Rent

$255,700

Median Home Value

Market

Vacancy Rate% for Multifamily in Northeast region

4% 2022

4.6% 2023

5.3% 2024

5.6% 2025

Frequently Asked Questions

What type of property is this?

Duplex - Separate laundry, utility, and heating systems support distinct apartment configurations.

Where is this duplex located?

The property is located at 11401 Partridge Road Holland, NY.

What is the asking price?

The asking price for this property is $229,900.

What are key features of this property?

This property features: Two 2‑bedroom, 1‑bath apartments in a single duplex property; Approximately 1.83 wooded acres; Separate laundry areas, utilities, and heating systems for both units