Two Duplexes with Updated
New
For Sale
$359,900
14 & 4 Gates Avenue, Geneva, NY 14456
The four apartments span one- and two-bedroom layouts, and one lower-level unit has a laundry hookup.
Property Size1,792 SF
Days on Market6
Property Features for 14 & 4 Gates Avenue
General Information
Standard status
Active
Size
1,792 SF
Property subtype
Multi Family
Taxes and HOA fees
Annual Taxes
$189,418
Building Details
Building Size
1,792 SF
Year Built
1900
Listing Agency:
Howard Hanna
Listed By:
Kaycie Japp · License #10401358840
(315) 719-8471
Source:
Griffith-realty
Added: Oct 26
Changed: Oct 31
Last Checked: Oct 30 at 10:27PM
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 Howard Hanna
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Investment Insights
Based on property information with market context.
Offered together, these two duplex properties contain four apartments: two one-bedroom, one-bath units at 14 Gates Avenue and two two-bedroom, one-bath units at 4 Gates Avenue. Both buildings were renovated in 2018, with electrical and plumbing replaced. Three of the four bathrooms were also updated. Baseboard electric heat serves every unit, and the lower apartment at 4 Gates Avenue includes a laundry hookup. The properties were built in 1900.
The buildings are on Gates Avenue in Geneva, near the New York State Thruway and downtown Geneva. Parking is available for tenants.
The buildings are on Gates Avenue in Geneva, near the New York State Thruway and downtown Geneva. Parking is available for tenants.
Key Highlights
- Two duplex properties offered together at 14 and 4 Gates Avenue
- Four apartments: two 1‑bedroom, 1‑bath units and two 2‑bedroom, 1‑bath units
- Both properties renovated in 2018, including new electrical and plumbing
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$22,949
Cap Rate
6.38%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$458,980
$459.0K
Cap Rate 7%
$327,843
$327.8K
Cap Rate 9%
$254,989
$255.0K
Market Conditions
NOI Build-Up for 1,792 SF
Gross rent
$35.5K $19.80/SF
− Vacancy
−$2.7K −$1.50/SF
EGI
$32.8K $18.30/SF
− OpEx
−$9.8K −$5.49/SF
NOI
$22.9K $12.81/SF
Area
Ontario County, NY
Vacancy
7.60%
Lease Rate
$19.80 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$458,980
Cap Rate 7%
$327,843
Cap Rate 9%
$254,989
Alternative Uses
Best Use
Multifamily LT 5
$327.8K
$286.9K – $382.5K
NOI $22,949 @ 7.0% cap · market cap 6.38%
Second Best
Apartment 5plus
$292.2K
$255.7K – $340.9K
NOI $20,456 @ 7.0% cap · market cap 5.68%
Theoretical Best
Office A
$536.4K
$469.3K – $625.8K
NOI $37,546 @ 7.0% cap · market cap 10.43%
Zoning and permitted uses should be independently verified with authorities.
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Location Intelligence
Trade Area within ½ mile
352
Businesses Nearby
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Business Placement
Demographics for 14456, NY
19,602
Population
9,087
Households
2.2
Avg Household Size
38
Median Age
34%
College-Educated
90%
High-School Grad
77.3 sq mi
ZIP Area
254
Density / Sq Mi
$74,691
Median Household Income
$38,782
Median Earnings
$967
Median Rent
$166,700
Median Home Value
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Market
Vacancy Rate% for Multifamily in Northeast region
Frequently Asked Questions
What type of property is this?
Duplex - The four apartments span one- and two-bedroom layouts, and one lower-level unit has a laundry hookup.
Where is this duplex located?
The property is located at 14 & 4 Gates Avenue Geneva, NY.
What is the asking price?
The asking price for this property is $359,900.
What are key features of this property?
This property features: Two duplex properties offered together at 14 and 4 Gates Avenue; Four apartments: two 1‑bedroom, 1‑bath units and two 2‑bedroom, 1‑bath units; Both properties renovated in 2018, including new electrical and plumbing
