Two-Unit Residential Income
252 W 2ND ST Corning, NY 14830
For Sale
$209,900
Two-unit duplex with off-street parking, a garage, and separate units featuring living and dining areas.
Property Size2,446 SF
Price / SF$85.81
Days on Market469
Property Features for 252 W 2ND ST
General Information
- Standard status
- Active
- Size
- 2,446 SF
- Property subtype
- Duplex
Building Details
- Year Built
- 1886
Listing Agency:
Keller Williams Realty Southern Tier & Finger Lakes
(607) 795-2900
Listed By:
Kenneth Leath · License #10491208664
(607) 769-8263
Source:
Xome
Added: Apr 12, 2025
Changed: Jul 23
Last Checked: Jul 24 at 5:08AM
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 Keller Williams Realty Southern Tier & Finger Lakes
Investment Insights
Based on property information with market context.
This two-unit residential income property includes a one-car garage and off-street parking accessed via a gravel driveway. The first-floor apartment offers three bedrooms, along with a spacious living room and dining room. It is equipped with a refrigerator and range, and also includes a washer and dryer. A small screened porch is located on the back of the unit.
The second-floor unit features two bedrooms with a spacious living room and dining room. It includes a refrigerator and range, with laundry hookups available, and also offers a small porch. A large deck is located next to the garage.
Each unit has its own interior living and dining space, plus exterior porch space, creating straightforward separation within the duplex layout.
The second-floor unit features two bedrooms with a spacious living room and dining room. It includes a refrigerator and range, with laundry hookups available, and also offers a small porch. A large deck is located next to the garage.
Each unit has its own interior living and dining space, plus exterior porch space, creating straightforward separation within the duplex layout.
Key Highlights
- Two‑unit duplex in Corning’s southside hill neighborhood
- First‑floor unit: 3 bedrooms with living room and dining room; includes refrigerator and range, plus washer/dryer
- Second‑floor unit: 2 bedrooms with living room and dining room; includes refrigerator and range with laundry hookups
Financial Insights For Multifamily LT 5
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $24.9k | $10.20 |
| − Vacancy | −$1.3k | −$0.53 |
| EGI | $23.6k | $9.67 |
| − OpEx | −$7.1k | −$2.90 |
| NOI | $16.6k | $6.77 |
2,446 SF · lease $10.20/SF/yr · vacancy 5.22% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$236.5K
$206.9K – $275.9K
NOI $16,553 @ 7.0% cap · market cap 7.89%
Second Best
Apartment 5plus
$217.9K
$190.7K – $254.3K
NOI $15,256 @ 7.0% cap · market cap 7.27%
Theoretical Best
Office A
$596.3K
$521.8K – $695.7K
NOI $41,741 @ 7.0% cap · market cap 19.89%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
Duplexes
FAQs
What type of property is this?
Duplex - Two-unit duplex with off-street parking, a garage, and separate units featuring living and dining areas.
Where is this duplex located?
The property is located at 252 W 2ND ST Corning, NY.
What is the asking price?
The asking price for this property is $209,900.
What are key features of this property?
This property features: Two‑unit duplex in Corning’s southside hill neighborhood; First‑floor unit: 3 bedrooms with living room and dining room; includes refrigerator and range, plus washer/dryer; Second‑floor unit: 2 bedrooms with living room and dining room; includes refrigerator and range with laundry hookups
