Well-Maintained Owner-Occupied
For Sale
$164,900
Pending
67 Delaware Ave, Hornell, NY 14843
Updated duplex with two bedrooms per unit, luxury vinyl flooring, and laundry hookups on the first floor.
Property Size1,922 SF
Days on Market42
Property Features for 67 Delaware Ave
General Information
Standard status
Pending
Size
1,922 SF
Property subtype
Multi Family
Additional Details
Multifamily Units
2
Taxes and HOA fees
Annual Taxes
$2,600
Building Details
Building Size
1,922 SF
Year Built
1900
Stories
2
Units
2
Tenancy
Multi
Listing Agency:
Howard Hanna
(607) 382-4539
Listed By:
Rhonda L Willsey · License #40WI1029804
(607) 382-4539
Source:
Elliman
Added: Jul 12
Changed: Aug 10
Last Checked: Aug 22 at 11:40AM
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 Howard Hanna
Investment Insights
Based on property information with market context.
This owner-occupied duplex offers two separate residences with freshly updated luxury vinyl flooring in both units. The first-floor unit is designed for convenient one-level living and includes two spacious bedrooms, a full bathroom, and washer and dryer hookups. The kitchen has modern finishes and appliances, completed within the past year, and the unit also features a covered back porch with electric hookups.
The second-floor apartment includes two bedrooms, a full bathroom, a comfortable living room, and a kitchen. The property is set up for privacy at the rear, with a peaceful backyard setting described as having no rear neighbors and a scenic riverbank.
Convenience is part of the layout, with the duplex noted as within walking distance of downtown shops, restaurants, and local amenities. Delayed negotiations are scheduled to begin Saturday, July 18, 2026 at 12pm.
The second-floor apartment includes two bedrooms, a full bathroom, a comfortable living room, and a kitchen. The property is set up for privacy at the rear, with a peaceful backyard setting described as having no rear neighbors and a scenic riverbank.
Convenience is part of the layout, with the duplex noted as within walking distance of downtown shops, restaurants, and local amenities. Delayed negotiations are scheduled to begin Saturday, July 18, 2026 at 12pm.
Key Highlights
- Owner‑occupied duplex built in 1900 with a second rental unit
- First‑floor unit features 2 bedrooms, 1 full bath, and washer/dryer hookups
- Kitchen in the first‑floor unit was updated within the past year with modern finishes and appliances
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
$13,007
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%
$260,140
$260.1K
Cap Rate 7%
$185,814
$185.8K
Cap Rate 9%
$144,522
$144.5K
Market Conditions
NOI Build-Up for 1,922 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
$19.6K $10.20/SF
− Vacancy
−$1.0K −$0.53/SF
EGI
$18.6K $9.67/SF
− OpEx
−$5.6K −$2.90/SF
NOI
$13.0K $6.77/SF
Area
Steuben County, NY
Vacancy
5.22%
Lease Rate
$10.20 /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%
$260,140
Cap Rate 7%
$185,814
Cap Rate 9%
$144,522
Alternative Uses
Best Use
Multifamily LT 5
$185.8K
$162.6K – $216.8K
NOI $13,007 @ 7.0% cap · market cap 7.89%
Second Best
Apartment 5plus
$171.3K
$149.9K – $199.8K
NOI $11,988 @ 7.0% cap · market cap 7.27%
Theoretical Best
Office A
$468.6K
$410.0K – $546.7K
NOI $32,799 @ 7.0% cap · market cap 19.89%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
521
Businesses Nearby
Explore this area
Business Placement
Demographics for 14843, NY
12,637
Population
6,353
Households
2
Avg Household Size
42
Median Age
21%
College-Educated
93%
High-School Grad
95.7 sq mi
ZIP Area
132
Density / Sq Mi
$56,004
Median Household Income
$36,286
Median Earnings
$766
Median Rent
$104,300
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 - Updated duplex with two bedrooms per unit, luxury vinyl flooring, and laundry hookups on the first floor.
Where is this duplex located?
The property is located at 67 Delaware Ave Hornell, NY.
What is the asking price?
The asking price for this property is $164,900.
What are key features of this property?
This property features: Owner‑occupied duplex built in 1900 with a second rental unit; First‑floor unit features 2 bedrooms, 1 full bath, and washer/dryer hookups; Kitchen in the first‑floor unit was updated within the past year with modern finishes and appliances
