Four-Unit Vacation Rental
For Sale
$849,900
15 Main Street, Bemus Point, NY 14712
MULTI_FAMILY - Other - Bemus Point, NY
Property Size3,604 SF
Lot Size0.18 Acres
Price / SF$235.82
Days on Market57
Property Features for 15 Main Street
General Information
Property type
Residential Multi Family
Property subtype
Other
Bedrooms
6
Bathrooms
4
Full bathrooms
4
Rooms
Bedroom 6, Bathroom 3, Bedroom 4, Bedroom 3, Bathroom 1, Bathroom 2, Basement, Bedroom 1, Bathroom 4, Bedroom 5, Bedroom 2
Parking features
Open
Patio and Porch features
Deck, Porch, Patio
Interior features
ProgrammableThermostat
Exterior features
Awnings, Balcony, Barbecue, Deck, EnclosedPorch, FullyFenced, Porch, Patio
Fencing
Fenced
Appliances
GasWaterHeater
Lot features
Rectangular, Rectangular Lot
High school
Maple Grove Junior-Senior High
Elementary school district
Bemus Point
Middle school district
Bemus Point
High school district
Bemus Point
Directions
Left off Lakeside Dr, home is next to the library
Subdivision
Bemus Point-Village-063601
Standard status
Active
APN
063601-333-009-0001-004-000
Size
3,604 SF
Lot size
0.18 Acres
Taxes and HOA fees
Tax Annual Amount
7391
Utilities
Heating system
Forced Air, Natural Gas
Cooling system
Central Air
Water source
Well
Amenities
private porches
outdoor gathering areas
gas fire pit
dedicated workspace
Building Details
Year built
1912
Floors in Building
2
Number of units
4
Flooring type
Hardwood, Varies, Tile
Building materials
VinylSiding
Architectural style
Other
Listing Agency:
Century 21 Turner Brokers · Century 21 Real Estate
(716) 763-7506
Listed By:
Julie Barry · License #10401361166
(716) 397-3954
Added: Jun 17
Changed: Aug 9
Last Checked: Aug 12 at 2:06PM
MLS# R1687370
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.
Investment Insights
Based on property information with market context.
This 3,604-square-foot quadplex, built in 1912, contains four rental units configured for short-term vacation stays. The property includes hardwood and tile flooring, forced-air natural gas heat, central air conditioning, a gas water heater, vinyl siding, and open parking. Exterior features include porches, a deck, patio, balcony, awnings, barbecue space, and fully fenced grounds. One studio includes a dedicated workspace, private porch, and gas fire pit.
Set on 0.1788 acres in Bemus Point, the property is one block from Chautauqua Lake and three blocks from a public boat launch. Local shops, restaurants, and village attractions are within walking distance. Long Point State Park beach is 2 miles away, while Chautauqua Institution, the National Comedy Center, and Midway State Park are located in the surrounding area.
Set on 0.1788 acres in Bemus Point, the property is one block from Chautauqua Lake and three blocks from a public boat launch. Local shops, restaurants, and village attractions are within walking distance. Long Point State Park beach is 2 miles away, while Chautauqua Institution, the National Comedy Center, and Midway State Park are located in the surrounding area.
Key Highlights
- Four rental units within a 3,604‑square‑foot quadplex
- Built in 1912 on a 0.1788‑acre parcel
- One block from Chautauqua Lake
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
$29,821
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
3.51%
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%
$596,420
$596.4K
Cap Rate 7%
$426,014
$426.0K
Cap Rate 9%
$331,344
$331.3K
Market Conditions
NOI Build-Up for 3,604 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
$48.7K $13.50/SF
− Vacancy
−$6.1K −$1.68/SF
EGI
$42.6K $11.82/SF
− OpEx
−$12.8K −$3.55/SF
NOI
$29.8K $8.27/SF
Area
Chautauqua County, NY
Vacancy
12.44%
Lease Rate
$13.50 /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%
$596,420
Cap Rate 7%
$426,014
Cap Rate 9%
$331,344
Alternative Uses
Best Use
Multifamily LT 5
$426.0K
$372.8K – $497.0K
NOI $29,821 @ 7.0% cap · market cap 3.51%
Second Best
Apartment 5plus
$389.8K
$341.1K – $454.8K
NOI $27,285 @ 7.0% cap · market cap 3.21%
Theoretical Best
Office A
$1.08M
$943.9K – $1.26M
NOI $75,511 @ 7.0% cap · market cap 8.88%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
4
Residential units
Location Intelligence
Trade Area within ½ mile
130
Businesses Nearby
Explore this area
Business Placement
Demographics for 14712, NY
3,242
Population
2,273
Households
1.4
Avg Household Size
51
Median Age
30%
College-Educated
99%
High-School Grad
25.8 sq mi
ZIP Area
126
Density / Sq Mi
$77,423
Median Household Income
$46,767
Median Earnings
$775
Median Rent
$219,000
Median Home Value
Market
Vacancy Rate% for Multifamily in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Quadplex - The property combines four rental units with porches, outdoor gathering areas, and access to nearby lake and village amenities.
Where is this quadplex located?
The property is located at 15 Main Street Bemus Point, NY.
What is the asking price?
The asking price for this property is $849,900.
What are key features of this property?
This property features: Four rental units within a 3,604‑square‑foot quadplex; Built in 1912 on a 0.1788‑acre parcel; One block from Chautauqua Lake
