Victorian Two-Unit Multifamily
17 W 1st Street Corning, NY 14830
17 W 1st Street, Corning, NY, 14830
$240,000
For Sale
$240,000
A Victorian duplex currently laid out as two spacious units, each with two bedrooms and one full bath, plus parking and updates.
Property Size2,743 SF
Price / SF$87.50
Days on Market66
Property Features for 17 W 1st Street
General Information
- Standard status
- Active
- Size
- 2,743 SF
- Property subtype
- Multi-Family
Building Details
- Year Built
- 1880
Listing agency
(607) 329-7181
Listed by
Warren Real Estate
(607) 329-7181
Source
Xome
Added: May 19 Updated: Jul 22 at 3:38PM Checked: Jul 22 at 3:38PM
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 Warren Real Estate
Investment Insights
Based on property information with market context.
This Victorian-style multifamily home is currently configured as two exceptionally spacious units. Each unit includes two bedrooms and one full bath, and the lower unit also has an additional half-bath in the walk-out basement area. Original hardwood floors and Victorian architectural character are featured throughout, and the property has been updated with a newer roof, furnace, hot water heaters, and many replacement windows.
Outside, the property offers a massive private parking lot with abundant off-street parking. The upper unit includes a private balcony with sweeping city views.
The home was originally a three-unit residence and may be reconverted depending on buyer preference and planning. Overall, it presents a dual-unit income configuration with notable historic features and practical improvements.
Outside, the property offers a massive private parking lot with abundant off-street parking. The upper unit includes a private balcony with sweeping city views.
The home was originally a three-unit residence and may be reconverted depending on buyer preference and planning. Overall, it presents a dual-unit income configuration with notable historic features and practical improvements.
Key Highlights
- Victorian multi‑family home built in 1880, currently configured as a duplex with 2 units
- Each unit features 2 bedrooms and 1 full bath, with hardwood and laminate flooring
- Lower unit includes an extra half‑bath in the walk‑out basement area
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 | $28.0k | $10.20 |
| − Vacancy | −$1.5k | −$0.53 |
| EGI | $26.5k | $9.67 |
| − OpEx | −$8.0k | −$2.90 |
| NOI | $18.6k | $6.77 |
2,743 SF · lease $10.20/SF/yr · vacancy 5.22% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$265.2K
$232.0K – $309.4K
NOI $18,563 @ 7.0% cap · market cap 7.73%
Second Best
Apartment 5plus
$244.4K
$213.9K – $285.1K
NOI $17,108 @ 7.0% cap · market cap 7.13%
Theoretical Best
Office A
$668.7K
$585.1K – $780.2K
NOI $46,809 @ 7.0% cap · market cap 19.50%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
Duplexes
Similar For Sale Nearby
FAQs
What type of property is this?
Duplex - A Victorian duplex currently laid out as two spacious units, each with two bedrooms and one full bath, plus parking and updates.
Where is this duplex located?
The property is located at 17 W 1st Street Corning, NY.
What is the asking price?
The asking price for this property is $240,000.
What are key features of this property?
This property features: Victorian multi‑family home built in 1880, currently configured as a duplex with 2 units; Each unit features 2 bedrooms and 1 full bath, with hardwood and laminate flooring; Lower unit includes an extra half‑bath in the walk‑out basement area
