Building Details

Building Size 1,798 SF

Year Built 1900

Buildings 1

Stories 2

Units 2

Listing Agency: eXp Realty

Listed By: Rosalia Flower · License #10401374032 Show Phone

Source: Elliman

Added: Oct 5 Changed: Oct 11 Last Checked: Oct 11 at 6:38AM

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Investment Insights

Based on property information with market context.

This up-and-down duplex in Persia provides approximately 1,800 square feet across two apartments, with a total of five bedrooms and two full baths. Interior finishes include white cabinetry, luxury vinyl plank and carpet flooring. Each unit has a separate breaker panel; the upper apartment has a private balcony, while the lower one opens onto a covered front porch. A detached garage, gravel driveway and deep backyard complete the property. Municipal water and public sewer serve the building, with gas forced-air heat. Built in 1900, the duplex sits on a 0.24-acre lot.

Both apartments are currently occupied under month-to-month rental arrangements. The property is within the Gowanda Central School District.

Key Highlights

• Two apartments with a combined 5 bedrooms and 2 full baths
• Approximately 1,800 square feet on a 0.24‑acre lot
• Both units rented month‑to‑month

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$11,567

Cap Rate

7.87%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$231,340 $231.3K

Cap Rate 7%

$165,243 $165.2K

Cap Rate 9%

$128,522 $128.5K

Market Conditions

NOI Build-Up for 1,800 SF

Gross rent

$18.4K $10.20/SF

− Vacancy

−$1.8K −$1.02/SF

EGI

$16.5K $9.18/SF

− OpEx

−$5.0K −$2.75/SF

NOI

$11.6K $6.43/SF

Area

Cattaraugus County, NY

Vacancy

10.00%

Lease Rate

$10.20 /SF/Yr

Expense Ratio

30.00%

Simulate Cap Rate and NOI

Suggested Prices Based on Cap Rates

Cap Rate 5%

$231,340

Cap Rate 7%

$165,243

Cap Rate 9%

$128,522

Alternative Uses

Best Use

Multifamily LT 5

$165.2K

$144.6K – $192.8K (±1% cap)

NOI $11,567 @ 7.0% cap · market cap 7.87%

Second Best

Apartment 5plus

$155.3K

$135.9K – $181.2K (±1% cap)

NOI $10,870 @ 7.0% cap · market cap 7.39%

Theoretical Best

Healthcare Medical

$355.8K

$311.3K – $415.1K (±1% cap)

NOI $24,903 @ 7.0% cap · market cap 16.94%

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

Property Analytics

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Current Use

Duplexes

Suggested Use

Top Pick Parking Lot & Garage HVAC Service Grocery & Convenience Store Dental Office (Bike/Boat/Book/etc) Store Barber Shop

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Lease Details

2

Residential units

Yes

Utilities to site

Location Intelligence

Trade Area within ½ mile

251

Businesses Nearby

Explore this area Business Placement

Demographics for 14070, NY

5,093

Population

2,589

Households

2

Avg Household Size

44

Median Age

15%

College-Educated

88%

High-School Grad

50.8 sq mi

ZIP Area

100

Density / Sq Mi

$51,620

Median Household Income

$39,330

Median Earnings

$740

Median Rent

$100,600

Median Home Value

Market

Vacancy Rate% for Multifamily in Northeast region

4% 2022

4.6% 2023

5.3% 2024

5.6% 2025

Questions? Ask Rey

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What type of property is this? Where is this duplexes located? What is the asking price? Find similar properties What are key features of this property?

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Frequently Asked Questions

What type of property is this?

Duplex - Month-to-month occupancy across both apartments offers a flexible rental arrangement.

Where is this duplex located?

The property is located at 120 Chestnut St Gowanda, NY.

What is the asking price?

The asking price for this property is $147,000.

What are key features of this property?

This property features: Two apartments with a combined 5 bedrooms and 2 full baths; Approximately 1,800 square feet on a 0.24‑acre lot; Both units rented month‑to‑month