Two-Unit
New
For Sale
$114,900
21 Whiting St, Bath, NY 14810
Each residence has an eat-in kitchen, living room, two bedrooms and a full bathroom.
Property Size1,480 SF
Days on Market3
Property Features for 21 Whiting St
General Information
Standard status
Active
Size
1,480 SF
Property subtype
Multi Family
Additional Details
Multifamily Units
2
Taxes and HOA fees
Annual Taxes
$2,794
Building Details
Building Size
1,480 SF
Year Built
1910
Stories
2
Units
2
Listing Agency:
Howard Hanna
Listed By:
Brennan Thurber · License #10401321341
(607) 661-5083
Source:
Elliman
Added: Sep 24
Last Checked: Sep 26 at 8:14AM
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
Investment Insights
Based on property information with market context.
Built in 1910, this duplex contains two residences. The first-floor home has an eat-in kitchen, living room, two bedrooms—including one with a walk-in closet—and a full bathroom. The upper residence includes an eat-in kitchen with pantry storage, a living room, two bedrooms and a full bathroom. A divided backyard provides outdoor space for both residences.
The property is in Bath, within walking distance of local schools, shops and restaurants. Bike Score is 64; Walk Score is 52.
The property is in Bath, within walking distance of local schools, shops and restaurants. Bike Score is 64; Walk Score is 52.
Key Highlights
- Two residences, each with two bedrooms and one full bathroom
- First‑floor unit includes a bedroom with a walk‑in closet
- Upper unit has pantry storage in its eat‑in kitchen
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
$10,016
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
8.72%
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%
$200,320
$200.3K
Cap Rate 7%
$143,086
$143.1K
Cap Rate 9%
$111,289
$111.3K
Market Conditions
NOI Build-Up for 1,480 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
$15.1K $10.20/SF
− Vacancy
−$788 −$0.53/SF
EGI
$14.3K $9.67/SF
− OpEx
−$4.3K −$2.90/SF
NOI
$10.0K $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%
$200,320
Cap Rate 7%
$143,086
Cap Rate 9%
$111,289
Alternative Uses
Best Use
Multifamily LT 5
$143.1K
$125.2K – $166.9K
NOI $10,016 @ 7.0% cap · market cap 8.72%
Second Best
Apartment 5plus
$131.9K
$115.4K – $153.9K
NOI $9,231 @ 7.0% cap · market cap 8.03%
Theoretical Best
Office A
$360.8K
$315.7K – $420.9K
NOI $25,256 @ 7.0% cap · market cap 21.98%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
259
Businesses Nearby
Explore this area
Business Placement
Demographics for 14810, NY
11,620
Population
6,110
Households
1.9
Avg Household Size
47
Median Age
17%
College-Educated
88%
High-School Grad
120.6 sq mi
ZIP Area
96
Density / Sq Mi
$48,613
Median Household Income
$40,031
Median Earnings
$737
Median Rent
$113,300
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in Northeast region
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Frequently Asked Questions
What type of property is this?
Duplex - Each residence has an eat-in kitchen, living room, two bedrooms and a full bathroom.
Where is this duplex located?
The property is located at 21 Whiting St Bath, NY.
What is the asking price?
The asking price for this property is $114,900.
What are key features of this property?
This property features: Two residences, each with two bedrooms and one full bathroom; First‑floor unit includes a bedroom with a walk‑in closet; Upper unit has pantry storage in its eat‑in kitchen
