Three-Unit Property with Detached
New
For Sale
$350,000
1190 Paul Rd, Churchville, NY 14428
Three apartments with a second-floor deck, detached garage, and rural acreage in the Churchville-Chili Schools district.
Property Size2,964 SF
Lot Size1.70 Acres
Days on Market6
Property Features for 1190 Paul Rd
General Information
Standard status
Active
Size
2,964 SF
Lot size
1.70 Acres
Property subtype
Multi Family
Additional Details
Road Access
Yes
Multifamily Units
3
Taxes and HOA fees
Annual Taxes
$6,149
Amenities
deck
Building Details
Building Size
2,964 SF
Year Built
1890
Stories
2
Units
3
Listing Agency:
(585) 721-6479
Listed By:
Robert E. Reimer
(585) 721-6479
Source:
Elliman
Added: Aug 15
Changed: Aug 16
Last Checked: Aug 19 at 12:28PM
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 Robert E. Reimer
Investment Insights
Based on property information with market context.
This three-unit residential property contains two apartments on the first floor and a third apartment upstairs. The second-floor unit is currently vacant and includes access to a deck oriented toward the rear yard. A detached 2.5-car garage adds 540 Sqft of accessory space, while the residence itself offers almost 3000 Sqft.
The property occupies 1.7 acres with 386 feet of road frontage on Paul Rd in Chili. It is located within the Churchville-Chili Schools district and offers a rural setting. The structure was built in 1890. Acceptance of an offer may be contingent on viewing and approving the two first-floor apartments.
The property occupies 1.7 acres with 386 feet of road frontage on Paul Rd in Chili. It is located within the Churchville-Chili Schools district and offers a rural setting. The structure was built in 1890. Acceptance of an offer may be contingent on viewing and approving the two first-floor apartments.
Key Highlights
- Three apartments: two on the first floor and one on the second floor
- Almost 3000 Sqft three‑unit residence on a 1.7 acre lot
- Detached 2.5‑car garage with 540 Sqft
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
$27,630
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
7.89%
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%
$552,600
$552.6K
Cap Rate 7%
$394,714
$394.7K
Cap Rate 9%
$307,000
$307.0K
Market Conditions
NOI Build-Up for 2,964 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
$40.9K $13.80/SF
− Vacancy
−$1.4K −$0.48/SF
EGI
$39.5K $13.32/SF
− OpEx
−$11.8K −$4.00/SF
NOI
$27.6K $9.32/SF
Area
Monroe County, NY
Vacancy
3.50%
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%
$552,600
Cap Rate 7%
$394,714
Cap Rate 9%
$307,000
Alternative Uses
Best Use
Multifamily LT 5
$394.7K
$345.4K – $460.5K
NOI $27,630 @ 7.0% cap · market cap 7.89%
Second Best
Apartment 5plus
$356.5K
$312.0K – $416.0K
NOI $24,957 @ 7.0% cap · market cap 7.13%
Theoretical Best
Specialty Retail
$569.0K
$497.9K – $663.8K
NOI $39,830 @ 7.0% cap · market cap 11.38%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
3
Residential units
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
28
Businesses Nearby
Explore this area
Business Placement
Demographics for 14428, NY
8,259
Population
3,491
Households
2.4
Avg Household Size
46
Median Age
37%
College-Educated
92%
High-School Grad
46.4 sq mi
ZIP Area
178
Density / Sq Mi
$86,711
Median Household Income
$50,315
Median Earnings
$1,060
Median Rent
$215,100
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?
Triplex - Three apartments with a second-floor deck, detached garage, and rural acreage in the Churchville-Chili Schools district.
Where is this triplex located?
The property is located at 1190 Paul Rd Churchville, NY.
What is the asking price?
The asking price for this property is $350,000.
What are key features of this property?
This property features: Three apartments: two on the first floor and one on the second floor; Almost 3000 Sqft three‑unit residence on a 1.7 acre lot; Detached 2.5‑car garage with 540 Sqft
