Two-Unit Property with Off-Street
For Sale
$189,000
179 Sly Avenue, Corning, NY 14830
Residential, Corning, NY
Property Size2,111 SF
Lot Size0.08 Acres
Price / SF$89.53
Days on Market385
Property Features for 179 Sly Avenue
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Zoning description
Residential 2 Unit
Bedrooms
4
Bathrooms
2
Full bathrooms
2
Rooms
Bedroom 3, Bedroom 4, Bathroom 1, Basement, Bathroom 2, Bedroom 1, Bedroom 2
Interior features
CeilingFans
Exterior features
Fence
Fencing
Fenced
Appliances
ElectricWaterHeater
Lot features
Rectangular, Rectangular Lot, Residential Lot
Elementary school district
Corning-Painted Post
Middle school district
Corning-Painted Post
High school district
Corning-Painted Post
Directions
Turn onto Sly Ave. from Pulteney St/NY-415, house is on the right. Sign is in the front. Off street parking available.
Subdivision
Corning-City-460300
Standard status
Active
APN
460300-299-020-0001-083-000
Size
2,111 SF
Lot size
0.08 Acres
Taxes and HOA fees
Tax Annual Amount
5239
Utilities
Heating system
Baseboard, Electric (Heating)
Water source
Public
Building Details
Year built
1895
Floors in Building
2
Number of units
2
Flooring type
Varies, Laminate, Carpet, Hardwood, Tile
Building materials
VinylSiding
Roof type
Shingle
Architectural style
Other
Listing Agency:
Howard Hanna Corning
(607) 936-4663
Listed By:
Vanessa Scott · License #10401375502
(607) 765-0807
Added: Aug 13, 2025
Changed: Aug 19
Last Checked: Sep 1 at 2:06AM
MLS# R1630288
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 duplex at 179 Sly Avenue contains 2,111 square feet with four bedrooms, two bathrooms, and a basement. The property includes a private brick driveway, off-street parking, fencing, vinyl siding, and a shingle roof. Interior features include varied flooring with laminate, carpet, hardwood, and tile, along with ceiling fans. Heating is provided by electric baseboard systems, and the property has a public water source.
Built in 1895, the residence is positioned in Corning near Market Street, downtown, shopping, the Corning Museum of Glass, major employers, and a major commuting route. Its established residential setting and two-bathroom layout provide a practical foundation for a duplex property.
Built in 1895, the residence is positioned in Corning near Market Street, downtown, shopping, the Corning Museum of Glass, major employers, and a major commuting route. Its established residential setting and two-bathroom layout provide a practical foundation for a duplex property.
Key Highlights
- 2,111‑square‑foot duplex with four bedrooms, two bathrooms, and a basement
- Private hand‑laid brick driveway and off‑street parking
- 0.0848‑acre fenced lot at 179 Sly Avenue, Corning, NY 14830
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
$14,286
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
7.56%
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%
$285,720
$285.7K
Cap Rate 7%
$204,086
$204.1K
Cap Rate 9%
$158,733
$158.7K
Market Conditions
NOI Build-Up for 2,111 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
$21.5K $10.20/SF
− Vacancy
−$1.1K −$0.53/SF
EGI
$20.4K $9.67/SF
− OpEx
−$6.1K −$2.90/SF
NOI
$14.3K $6.77/SF
Area
Steuben County, NY
Vacancy
5.22%
Lease Rate
$10.20 /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%
$285,720
Cap Rate 7%
$204,086
Cap Rate 9%
$158,733
Alternative Uses
Best Use
Multifamily LT 5
$204.1K
$178.6K – $238.1K
NOI $14,286 @ 7.0% cap · market cap 7.56%
Second Best
Apartment 5plus
$188.1K
$164.6K – $219.4K
NOI $13,166 @ 7.0% cap · market cap 6.97%
Theoretical Best
Office A
$514.6K
$450.3K – $600.4K
NOI $36,024 @ 7.0% cap · market cap 19.06%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
349
Businesses Nearby
Explore this area
Business Placement
Demographics for 14830, NY
18,949
Population
9,324
Households
2
Avg Household Size
40
Median Age
41%
College-Educated
96%
High-School Grad
90.6 sq mi
ZIP Area
209
Density / Sq Mi
$73,831
Median Household Income
$48,331
Median Earnings
$997
Median Rent
$168,100
Median Home Value
Market
Vacancy Rate% for Multifamily in Northeast region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Duplex - Four-bedroom duplex with a fenced yard, private brick driveway, and convenient access to Corning destinations.
Where is this duplex located?
The property is located at 179 Sly Avenue Corning, NY.
What is the asking price?
The asking price for this property is $189,000.
What are key features of this property?
This property features: 2,111‑square‑foot duplex with four bedrooms, two bathrooms, and a basement; Private hand‑laid brick driveway and off‑street parking; 0.0848‑acre fenced lot at 179 Sly Avenue, Corning, NY 14830
