Wooded Duplex with Two
For Sale
$239,900
11401 Partridge Road, Holland, NY 14080
Separate laundry, utility, and heating systems support distinct apartment configurations.
Property Size1,680 SF
Lot Size1.83 Acres
Days on Market8
Property Features for 11401 Partridge Road
General Information
Standard status
Active
Size
1,680 SF
Lot size
1.83 Acres
Property subtype
Multi Family Home
Units
Unit Mix
2 x 2BR/1BA
Multifamily Units
2
Additional Details
Utilities to Site
Yes
Taxes and HOA fees
Annual Taxes
$3,681
Amenities
separate laundry
fenced yard
Building Details
Building Size
1,680 SF
Year Built
1978
Buildings
1
Stories
2
Units
2
Listing Agency:
John Cook Real Estate LLC
(716) 909-8385
Listed By:
John M Cook · License #10491213480
(716) 909-8385
Source:
Homeprocny
Added: Aug 15
Changed: Aug 20
Last Checked: Aug 21 at 2:57PM
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
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.
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 = 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
$10,802
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
4.50%
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%
$216,040
$216.0K
Cap Rate 7%
$154,314
$154.3K
Cap Rate 9%
$120,022
$120.0K
Market Conditions
NOI Build-Up for 1,680 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
$23.2K $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 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%
$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
NOI $10,802 @ 7.0% cap · market cap 4.50%
Second Best
Apartment 5plus
$138.6K
$121.3K – $161.7K
NOI $9,700 @ 7.0% cap · market cap 4.04%
Theoretical Best
Office A
$367.3K
$321.4K – $428.5K
NOI $25,708 @ 7.0% cap · market cap 10.72%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
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
Questions? Ask Rey
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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 $239,900.
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
