Two-Unit Duplex with Covered
For Sale
$199,000
216 Court St, Little Valley, NY 14755
Each unit offers private laundry, covered outdoor entry space, and off-street parking.
Property Size2,255 SF
Days on Market22
Property Features for 216 Court St
General Information
Standard status
Active
Size
2,255 SF
Property subtype
Multi Family
Additional Details
Multifamily Units
2
Taxes and HOA fees
Annual Taxes
$2,131
Amenities
laundry in each unit
covered front porches
large yard
Building Details
Building Size
2,255 SF
Year Built
1920
Stories
2
Units
2
Listing Agency:
Signature Properties
(631) 433-7702
Listed By:
Julie M. (Jules) Costello · License #10401282603
(631) 433-7702
Source:
Elliman
Added: Aug 9
Changed: Aug 29
Last Checked: Aug 29 at 4:18PM
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 Signature Properties
Investment Insights
Based on property information with market context.
This two-unit duplex at 216 Court St in Little Valley, NY, was built in 1920 and occupies a corner lot. Each unit has its own laundry area, while two covered front porches provide separate sheltered entry spaces. Off-street parking and a yard add practical exterior features for the property.
The location is rated 27 for walkability and 42 for bikeability, indicating a car-dependent setting with some bike access. The property is offered for sale as a duplex and provides a straightforward two-unit configuration with dedicated laundry and outdoor parking.
The location is rated 27 for walkability and 42 for bikeability, indicating a car-dependent setting with some bike access. The property is offered for sale as a duplex and provides a straightforward two-unit configuration with dedicated laundry and outdoor parking.
Key Highlights
- Two‑unit duplex built in 1920
- Corner‑lot setting at 216 Court St, Little Valley, NY 14755
- Two covered front porches
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
$14,491
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
7.28%
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%
$289,820
$289.8K
Cap Rate 7%
$207,014
$207.0K
Cap Rate 9%
$161,011
$161.0K
Market Conditions
NOI Build-Up for 2,255 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
$23.0K $10.20/SF
− Vacancy
−$2.3K −$1.02/SF
EGI
$20.7K $9.18/SF
− OpEx
−$6.2K −$2.75/SF
NOI
$14.5K $6.43/SF
Area
Cattaraugus County, NY
Vacancy
10.00%
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%
$289,820
Cap Rate 7%
$207,014
Cap Rate 9%
$161,011
Alternative Uses
Best Use
Multifamily LT 5
$207.0K
$181.1K – $241.5K
NOI $14,491 @ 7.0% cap · market cap 7.28%
Second Best
Apartment 5plus
$194.5K
$170.2K – $227.0K
NOI $13,618 @ 7.0% cap · market cap 6.84%
Theoretical Best
Healthcare Medical
$445.7K
$390.0K – $520.0K
NOI $31,197 @ 7.0% cap · market cap 15.68%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
108
Businesses Nearby
Explore this area
Business Placement
Demographics for 14755, NY
2,855
Population
1,487
Households
1.9
Avg Household Size
44
Median Age
15%
College-Educated
89%
High-School Grad
73.9 sq mi
ZIP Area
39
Density / Sq Mi
$61,346
Median Household Income
$39,316
Median Earnings
$694
Median Rent
$116,100
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?
Duplex - Each unit offers private laundry, covered outdoor entry space, and off-street parking.
Where is this duplex located?
The property is located at 216 Court St Little Valley, NY.
What is the asking price?
The asking price for this property is $199,000.
What are key features of this property?
This property features: Two‑unit duplex built in 1920; Corner‑lot setting at 216 Court St, Little Valley, NY 14755; Two covered front porches
