Building Details

Building Size 2,500 SF

Year Built 1985

Stories 1

Units 2

Construction ranch-style

Listed By: Heidi S. Prentice Show Phone

Source: Elliman

Added: Sep 10 Changed: Sep 18 Last Checked: Sep 20 at 7:55AM

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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 Heidi S. Prentice

Investment Insights

Based on property information with market context.

Built in 1985, this ranch-style duplex provides two side-by-side living units along with an additional living area suitable for in-law or extended-household use. The property contains approximately 2,500 square feet of living space and includes gas heat, mini-splits, electric service, and air-conditioning units approximately 3 and 5 years old. Two tankless hot water heaters serve the residence.

Set on 1.4 acres, the property adds substantial utility beyond the main residence. Improvements include an attached two-car garage, a 30x40 pole barn, and two storage sheds. A metal roof approximately 4+ years old completes the exterior improvements.

Key Highlights

• Side‑by‑side duplex with an additional living area/in‑law space
• Approximately 2,500 square feet on a 1.4‑acre lot
• Attached two‑car garage, 30x40 pole barn, and two storage sheds

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

$23,305

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

7.77%

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%

$466,100 $466.1K

Cap Rate 7%

$332,929 $332.9K

Cap Rate 9%

$258,944 $258.9K

Market Conditions

NOI Build-Up for 2,500 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

$34.5K $13.80/SF

− Vacancy

−$1.2K −$0.48/SF

EGI

$33.3K $13.32/SF

− OpEx

−$10.0K −$4.00/SF

NOI

$23.3K $9.32/SF

Area

Monroe County, NY

Vacancy

3.50%

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%

$466,100

Cap Rate 7%

$332,929

Cap Rate 9%

$258,944

Alternative Uses

Best Use

Multifamily LT 5

$332.9K

$291.3K – $388.4K (±1% cap)

NOI $23,305 @ 7.0% cap · market cap 7.77%

Second Best

Apartment 5plus

$300.7K

$263.1K – $350.8K (±1% cap)

NOI $21,050 @ 7.0% cap · market cap 7.02%

Theoretical Best

Specialty Retail

$479.9K

$419.9K – $559.9K (±1% cap)

NOI $33,595 @ 7.0% cap · market cap 11.20%

Zoning and permitted uses should be independently verified with authorities.

Property Analytics

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Current Use

Duplexes

Suggested Use

Top Pick HVAC Service Auto Parts Store Furniture & Home Goods Auto Repair Shop Restaurant

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Location Intelligence

Trade Area within ½ mile

15

Businesses Nearby

Explore this area Business Placement

Demographics for 14546, NY

4,872

Population

2,225

Households

2.2

Avg Household Size

42

Median Age

42%

College-Educated

98%

High-School Grad

36.1 sq mi

ZIP Area

135

Density / Sq Mi

$82,578

Median Household Income

$46,206

Median Earnings

$1,260

Median Rent

$173,800

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

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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?

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Frequently Asked Questions

What type of property is this?

Duplex - Includes an additional living area, attached garage, pole barn, and two storage sheds on a 1.4-acre property.

Where is this duplex located?

The property is located at 372 Belcoda Rd Wheatland, NY.

What is the asking price?

The asking price for this property is $299,900.

What are key features of this property?

This property features: Side‑by‑side duplex with an additional living area/in‑law space; Approximately 2,500 square feet on a 1.4‑acre lot; Attached two‑car garage, 30x40 pole barn, and two storage sheds