Renovated Duplex with Off-Street
For Sale
$339,900
227 Mill St, Springville, NY 14141
Two kitchens and flexible living areas support separate household configurations.
Property Size3,022 SF
Price / SF$112.48
Days on Market48
Property Features for 227 Mill St
General Information
Standard status
Active
Size
3,022 SF
Property subtype
Multi-Family
Building Details
Year Built
1900
Listing Agency:
Keller Williams Realty Lancaster
Listed By:
Ryan Daley · License #10301215815
(716) 949-5189
Source:
Skinnercnyrealty
Added: Aug 30
Changed: Oct 2
Last Checked: Oct 7 at 3:11PM
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 Keller Williams Realty Lancaster
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Investment Insights
Based on property information with market context.
Located at 227 Mill St in Springville, this 3,022-square-foot duplex combines a four-bedroom, 2.5-bath main residence with a separate second-floor apartment containing two bedrooms and one full bathroom. The primary level includes living and family rooms, main-level laundry, an eat-in kitchen with quartz counters, stainless steel appliances, cabinetry, and a center island, plus a separate dining area. The upper apartment has its own kitchen, living room, dining area, and new stainless steel appliances.
Renovations include an architectural roof, vinyl siding, windows, flooring, insulation, drywall, paint, and hot water tanks. The property also provides two driveways, off-street parking, a large storage shed, and a wooded lot. Built in 1900, the home presents updated interior and exterior components within a two-level residential income configuration.
Renovations include an architectural roof, vinyl siding, windows, flooring, insulation, drywall, paint, and hot water tanks. The property also provides two driveways, off-street parking, a large storage shed, and a wooded lot. Built in 1900, the home presents updated interior and exterior components within a two-level residential income configuration.
Key Highlights
- 3,022 SF duplex with a four‑bedroom main residence and separate two‑bedroom apartment
- Main level includes 2.5 bathrooms, living and family rooms, and laundry
- Second‑floor apartment has its own kitchen, living room, dining area, and full bathroom
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$19,431
Cap Rate
5.72%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$388,620
$388.6K
Cap Rate 7%
$277,586
$277.6K
Cap Rate 9%
$215,900
$215.9K
Market Conditions
NOI Build-Up for 3,022 SF
Gross rent
$41.7K $13.80/SF
− Vacancy
−$13.9K −$4.61/SF
EGI
$27.8K $9.19/SF
− OpEx
−$8.3K −$2.76/SF
NOI
$19.4K $6.43/SF
Area
Erie County, NY
Vacancy
33.44%
Lease Rate
$13.80 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$388,620
Cap Rate 7%
$277,586
Cap Rate 9%
$215,900
Alternative Uses
Best Use
Multifamily LT 5
$277.6K
$242.9K – $323.9K
NOI $19,431 @ 7.0% cap · market cap 5.72%
Second Best
Apartment 5plus
$249.3K
$218.1K – $290.8K
NOI $17,448 @ 7.0% cap · market cap 5.13%
Theoretical Best
Office A
$660.6K
$578.1K – $770.7K
NOI $46,244 @ 7.0% cap · market cap 13.61%
Zoning and permitted uses should be independently verified with authorities.
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Current Use
Location Intelligence
Trade Area within ½ mile
333
Businesses Nearby
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Business Placement
Demographics for 14141, NY
7,585
Population
3,675
Households
2.1
Avg Household Size
45
Median Age
28%
College-Educated
93%
High-School Grad
72.3 sq mi
ZIP Area
105
Density / Sq Mi
$71,837
Median Household Income
$48,453
Median Earnings
$738
Median Rent
$195,800
Median Home Value
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Market
Vacancy Rate% for Multifamily in Northeast region
Frequently Asked Questions
What type of property is this?
Duplex - Two kitchens and flexible living areas support separate household configurations.
Where is this duplex located?
The property is located at 227 Mill St Springville, NY.
What is the asking price?
The asking price for this property is $339,900.
What are key features of this property?
This property features: 3,022 SF duplex with a four‑bedroom main residence and separate two‑bedroom apartment; Main level includes 2.5 bathrooms, living and family rooms, and laundry; Second‑floor apartment has its own kitchen, living room, dining area, and full bathroom
