Duplex with Updated Rear
For Sale
$329,900
324 Temple St, Fredonia, NY 14063
Two-porch duplex with an updated rear unit and generous backyard area for outdoor use or parking expansion.
Property Size2,345 SF
Days on Market60
Property Features for 324 Temple St
General Information
Standard status
Active
Size
2,345 SF
Property subtype
Multi Family
Taxes and HOA fees
Annual Taxes
$4,374
Building Details
Building Size
2,345 SF
Year Built
1870
Stories
2
Units
2
Listing Agency:
(716) 906-4643
Listed By:
John Attea
(716) 906-4643
Source:
Elliman
Added: Jun 23
Changed: Aug 19
Last Checked: Aug 20 at 9:54AM
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 Attea
Investment Insights
Based on property information with market context.
This duplex includes two spacious porches and an updated rear unit with modern finishes. The property also offers a generous land area behind the home, creating usable outdoor space for tenants and potential room for future improvements, including parking expansion.
The home is located at 324 Temple Street directly across the street from SUNY Fredonia’s campus, providing convenient walkable access for campus-area occupants. The property’s setting supports flexible use for both tenants and an owner who wants to live on-site while benefiting from rental income.
For prospective buyers, the combination of porch space, an improved rear unit, and a sizable backyard area can support a range of residential income strategies and owner-occupant needs. The campus-adjacent location may be especially appealing to tenants seeking convenience, while the added outdoor land gives the property practical options beyond the interior units.
The home is located at 324 Temple Street directly across the street from SUNY Fredonia’s campus, providing convenient walkable access for campus-area occupants. The property’s setting supports flexible use for both tenants and an owner who wants to live on-site while benefiting from rental income.
For prospective buyers, the combination of porch space, an improved rear unit, and a sizable backyard area can support a range of residential income strategies and owner-occupant needs. The campus-adjacent location may be especially appealing to tenants seeking convenience, while the added outdoor land gives the property practical options beyond the interior units.
Key Highlights
- Duplex built in 1870 with two spacious porches
- Updated rear unit with modern finishes
- Generous land area behind the home for outdoor use or parking expansion
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
$19,404
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
5.88%
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%
$388,080
$388.1K
Cap Rate 7%
$277,200
$277.2K
Cap Rate 9%
$215,600
$215.6K
Market Conditions
NOI Build-Up for 2,345 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
$31.7K $13.50/SF
− Vacancy
−$3.9K −$1.68/SF
EGI
$27.7K $11.82/SF
− OpEx
−$8.3K −$3.55/SF
NOI
$19.4K $8.27/SF
Area
Chautauqua County, NY
Vacancy
12.44%
Lease Rate
$13.50 /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%
$388,080
Cap Rate 7%
$277,200
Cap Rate 9%
$215,600
Alternative Uses
Best Use
Multifamily LT 5
$277.2K
$242.6K – $323.4K
NOI $19,404 @ 7.0% cap · market cap 5.88%
Second Best
Apartment 5plus
$253.6K
$221.9K – $295.9K
NOI $17,753 @ 7.0% cap · market cap 5.38%
Theoretical Best
Office A
$701.9K
$614.2K – $818.9K
NOI $49,132 @ 7.0% cap · market cap 14.89%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
138
Businesses Nearby
Explore this area
Business Placement
Demographics for 14063, NY
13,028
Population
5,861
Households
2.2
Avg Household Size
34
Median Age
40%
College-Educated
95%
High-School Grad
50.9 sq mi
ZIP Area
256
Density / Sq Mi
$55,629
Median Household Income
$27,358
Median Earnings
$852
Median Rent
$178,500
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 - Two-porch duplex with an updated rear unit and generous backyard area for outdoor use or parking expansion.
Where is this duplex located?
The property is located at 324 Temple St Fredonia, NY.
What is the asking price?
The asking price for this property is $329,900.
What are key features of this property?
This property features: Duplex built in 1870 with two spacious porches; Updated rear unit with modern finishes; Generous land area behind the home for outdoor use or parking expansion
