Building Details

Building Size 3,196 SF

Year Built 1880

Stories 2

Units 3

Construction farm house

Listing Agency: homecoin.com

Listed By: Jonathan Minerick · License #01523060 Show Phone

Source: Elliman

Added: Sep 15 Changed: Sep 19 Last Checked: Sep 22 at 4:23PM

Report an Issue

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 homecoin.com

Investment Insights

Based on property information with market context.

Built in 1880, this farmhouse-style duplex contains an upper rental unit and a lower rental unit within approximately 3,200 square feet. The layout also allows the units to be reconnected with the main residence to create one larger home. A barn is included with the property.

The offering covers approximately 1.58 acres associated with the building at 13092 Quaker St in Collins, NY. The property is car-dependent, with a walk score of 0 and a bike score of 25. Additional connected acreage is available separately, while the listed portion has not yet been formally subdivided.

Key Highlights

• 1880‑built farmhouse‑style duplex with upper and lower rental units
• Approximately 3,200 square feet of building area
• Units can be reconnected to form one larger residence

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

$20,575

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

5.28%

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%

$411,500 $411.5K

Cap Rate 7%

$293,929 $293.9K

Cap Rate 9%

$228,611 $228.6K

Market Conditions

NOI Build-Up for 3,200 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

$44.2K $13.80/SF

− Vacancy

−$14.8K −$4.61/SF

EGI

$29.4K $9.19/SF

− OpEx

−$8.8K −$2.76/SF

NOI

$20.6K $6.43/SF

Area

Erie County, NY

Vacancy

33.44%

Lease Rate

$13.80 /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%

$411,500

Cap Rate 7%

$293,929

Cap Rate 9%

$228,611

Alternative Uses

Best Use

Multifamily LT 5

$293.9K

$257.2K – $342.9K (±1% cap)

NOI $20,575 @ 7.0% cap · market cap 5.28%

Second Best

Apartment 5plus

$263.9K

$231.0K – $307.9K (±1% cap)

NOI $18,476 @ 7.0% cap · market cap 4.74%

Theoretical Best

Office A

$699.5K

$612.1K – $816.1K (±1% cap)

NOI $48,968 @ 7.0% cap · market cap 12.56%

Zoning and permitted uses should be independently verified with authorities.

Property Analytics

Unlock full access to Insights Subscribe to Realmo Intelligence

Open Analytics

Current Use

Duplexes

Lease Details

2

Residential units

Location Intelligence

Trade Area within ½ mile

3

Businesses Nearby

Explore this area Business Placement

Demographics for 14034, NY

3,743

Population

865

Households

4.3

Avg Household Size

40

Median Age

15%

College-Educated

87%

High-School Grad

24.1 sq mi

ZIP Area

155

Density / Sq Mi

$61,384

Median Household Income

$40,997

Median Earnings

$921

Median Rent

$150,100

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

Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.

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?

Frequently Asked Questions

What type of property is this?

Duplex - Farmhouse-style duplex offering two rental units with the option to restore a single larger residence.

Where is this duplex located?

The property is located at 13092 Quaker St Collins, NY.

What is the asking price?

The asking price for this property is $389,999.

What are key features of this property?

This property features: 1880‑built farmhouse‑style duplex with upper and lower rental units; Approximately 3,200 square feet of building area; Units can be reconnected to form one larger residence