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    Renovated Two-Unit Multifamily Home Title is generated by Realmo AI

    132 Chestnut Street, Gowanda, NY 14070

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    Claim this Listing
    New
    For Sale
    $150,000

    MULTI_FAMILY - Gowanda, NY

    Property size:
    1,499 SF
    Lot size:
    0.23 Acres
    Price / SF:
    $100/SF
    Added:
    Jun 4, 2026
    Days on Market:
    1
    Last Refresh:
    Jun 4 at 8:06 pm

    Property Features for 132 Chestnut Street

    General Information

    Property type
    Residential Multi Family
    Property subtype
    Other
    Bedrooms
    3
    Bathrooms
    2
    Rooms
    Bathroom 1, Bedroom 1, Bedroom 2, Bathroom 2, Bedroom 3
    Parking features
    Garage
    Patio and Porch features
    Porch
    Interior features
    PullDownAtticStairs
    Exterior features
    EnclosedPorch, Porch
    Appliances
    ElectricWaterHeater
    Standard status
    Active
    APN
    047201-008-083-0003-031-000-0000
    Size
    1,499 SF
    Lot size
    0.23 Acres

    Taxes and HOA fees

    Tax Annual Amount
    1227

    Utilities

    Heating system
    Forced Air, Natural Gas
    Water source
    Public

    Building Details

    Year built
    1940
    Floors in Building
    2
    Number of units
    2
    Flooring type
    Varies, Carpet, Vinyl
    Building materials
    VinylSiding

    We can help!

    Listing Contact
    Brandy Hardy

    Listing agent Brandy Hardy License #10401333307

    Listing office WNY Metro Roberts Realty 4124 N Buffalo St, cheektowaga, NY

    Listing date Jun 4, 2026

    MLS# B1687536 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

    • Renovated two‑unit property built in 1940 with separate utilities for each unit
    • Recent updates include a new roof, new furnaces, new hot water tanks, fresh paint, and all‑new carpeting
    • Lower unit has 2 bedrooms, 1 full bath, and in‑unit laundry hookups
    • Upper unit has 1 bedroom, 1 full bath, plus attic storage access via pull‑down attic stairs
    • Detached two‑car garage with parking provided through a shared driveway arrangement
    • Exterior includes vinyl siding, porch and enclosed porch; forced air heating with natural gas

    Overview

    132 Chestnut Street is a renovated two-unit multifamily property offering a practical layout for both investors and owner-occupants. The lower unit has 2 bedrooms, 1 full bathroom, and in-unit laundry hookups. The upper unit offers 1 bedroom, 1 full bathroom, along with access to attic storage space. Major recent improvements include a new roof, new furnaces, new hot water tanks, fresh paint throughout, and all-new carpeting. Additional updates are in progress, including new block windows and the installation of a new garage door prior to showings.

    The home is set on a lot with a detached two-car garage and ample parking available via a shared driveway arrangement. The property is located in the Village of Gowanda, with convenient access to local schools, parks, shopping, and other village amenities.

    Each unit has separate utilities, which can simplify day-to-day management and help reduce shared-cost complexity. With both units move-in ready and supported by recent updates to key components, the property is well suited for someone looking for an income-producing duplex-style setup without relying on immediate renovations. Showings begin Wednesday, June 10th, and offers will be reviewed as received.

    Local 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 $15.3k $10.20
    − Vacancy −$1.5k −$1.02
    EGI $13.8k $9.18
    − OpEx −$4.1k −$2.75
    NOI $9.6k $6.43
    1,499 SF · lease $10.20/SF/yr · vacancy 10.00% · expense 30.00%

    Alternative Uses

    Best Use
    Multifamily LT 5
    $137.6K
    $120.4K – $160.6K (±1% cap)
    NOI $9,633 @ 7.0% cap · market cap 6.42%
    Second Best
    Apartment 5plus
    $129.3K
    $113.2K – $150.9K (±1% cap)
    NOI $9,052 @ 7.0% cap · market cap 6.03%
    Theoretical Best
    Healthcare Medical
    $296.3K
    $259.2K – $345.6K (±1% cap)
    NOI $20,738 @ 7.0% cap · market cap 13.83%
    Zoning and permitted uses should be independently verified with local authorities.
    Property Profile Location Intelligence

    Current Use by Public Records

    Duplexes

    Suggested Use

    Law Firm Restaurant Spa & Massage Center Dental Office Hair Salon Nail Salon Gym & Fitness Center Building Supply Accounting Firm Daycare Center

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

    Location Insight

    • Map
    • Local Demand
    City
    Gowanda
    County
    Cattaraugus
    State
    New York
    Longitude
    -78.936762
    Latitude
    42.459305

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    FAQs

    What type of property is this?
    Duplex - Turnkey two-unit property with separate utilities, in-unit laundry hookups, and recent major updates.
    Where is this duplex located?
    The property is located at 132 Chestnut Street Gowanda, NY.
    What is the asking price?
    The asking price for this property is $150,000.
    What are key features of this property?
    This property features: Renovated two‑unit property built in 1940 with separate utilities for each unit; Recent updates include a new roof, new furnaces, new hot water tanks, fresh paint, and all‑new carpeting; Lower unit has 2 bedrooms, 1 full bath, and in‑unit laundry hookups
    (716) 574-8998
    We can help!
    Listing Contact
    Brandy Hardy
    Real Estate License ID: 10401333307
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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.

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