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    Sunset Bay Cottages Investment Opportunity Title is generated by Realmo AI

    12943 Alleghany Road, Irving, NY 14081

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    Claim this Listing
    New
    For Sale
    $419,900

    MULTI_FAMILY - Other - Irving, NY

    Property size:
    735 SF
    Lot size:
    0.27 Acres
    Price / SF:
    $571/SF
    Added:
    May 20, 2026
    Days on Market:
    2
    Last Refresh:
    May 21 at 12:06 pm

    Property Features for 12943 Alleghany Road

    General Information

    Property type
    Residential Multi Family
    Property subtype
    Other
    Bedrooms
    3
    Bathrooms
    2
    Rooms
    Bathroom 2, Bedroom 2, Bathroom 1, Bedroom 3, Bedroom 1
    Patio and Porch features
    Porch
    Appliances
    GasWaterHeater
    Standard status
    Active
    APN
    064689-015-020-0002-045-000
    Size
    735 SF
    Lot size
    0.27 Acres

    Taxes and HOA fees

    Tax Annual Amount
    5243

    Utilities

    Heating system
    Natural Gas
    Water source
    Public
    Water front features
    Beach Access
    Water front
    1

    Building Details

    Year built
    1935
    Floors in Building
    1
    Number of units
    2
    Flooring type
    Laminate, Varies, Resilient
    Building materials
    AluminumSiding, VinylSiding, WoodSiding
    Roof type
    Asphalt
    Architectural style
    Other

    We can help!

    Listing Contact
    Brittany Cerrie
    Brittany Cerrie

    Listing agent Brittany Cerrie License #10401351451

    Listing office Howard Hanna Holt - Fredonia 44 Temple St, Mayville, NY

    Listing date May 20, 2026

    MLS# R1682921 Listing URL

    Copyright © 2026 New York State Alliance of MLSs, LLC. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

    HighLights

    • Two updated, fully furnished cottages plus an attached vacant lot.
    • Steps from marina, boat launch, restaurants, and beach.
    • Turnkey condition with appliances and furnishings included.
    • Vacant lot offers development potential or private yard.
    • Deeded beach access and water views across the street.
    • Heated for year‑round use; suitable for short‑term or long‑term rentals.

    Overview

    This property presents a rare opportunity in Sunset Bay, featuring two updated and fully furnished cottages along with an attached vacant lot that includes a large storage shed. The property is located steps from the marina, boat launch, and local restaurants and beach. The larger cottage includes two bedrooms, while the smaller cottage has one bedroom. Both have been recently updated with new roofs, modern kitchens, and renovated bathrooms. The cottages are turnkey, with appliances and furnishings included. The attached vacant land, featuring a large shed, offers flexibility for parking, a private yard or pool, or the potential to develop a third cottage to increase rental income. Deeded beach access, a boat launch, and water views are located directly across the street, and the property is a short walk from dining and music venues. The cottages are heated for year-round use and are suitable as short-term rentals, long-term rentals, or a combination of owner use and rental income. The property size is 735 square feet and the lot size is 0.2652 acres.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Short term rental ...

    Suggested Use

    Restaurant Law Firm Spa & Massage Center Big Box & Wholesale Store Hair Salon Auto Repair Shop Nail Salon Auto Parts Store Hotel & Motel Pharmacy

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Irving
    County
    Chautauqua
    State
    New York
    Longitude
    -79.135574
    Latitude
    42.566827

    Nearby Similar for Sale

    • $351,000
      3,228 SF

      Turnkey Medical Office Building

      Versatile commercial building on 1.4 acres, ideal for healthcare.
      12655 Seneca Road, Irving, NY 14081
      View Details
    • $499,900
      1,960 SF

      Sunset Bay Corner Duplex

      Rare duplex near marina, beach, and restaurants. Income potential.
      954 Charles Street, Irving, NY 14081
      View Details

    FAQs

    What type of property is this?
    Short term rental property - Two updated cottages with vacant lot near Sunset Bay.
    Where is this short term rental property located?
    The property is located at 12943 Alleghany Road Irving, NY.
    What is the asking price?
    The asking price for this property is $419,900.
    What are key features of this property?
    This property features: Two updated, fully furnished cottages plus an attached vacant lot.; Steps from marina, boat launch, restaurants, and beach.; Turnkey condition with appliances and furnishings included.
    (716) 868-4000
    We can help!
    Listing Contact
    Brittany Cerrie
    Brittany Cerrie
    Real Estate License ID: 10401351451
    Learn More
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
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