Two-Unit Duplex
For Sale
$249,900
2321 State Route 14, Lyons, NY 14489
Well-maintained duplex with separate living units and a substantial residential footprint on approximately one acre.
Property Size2,016 SF
Days on Market50
Property Features for 2321 State Route 14
General Information
Standard status
Active
Size
2,016 SF
Property subtype
Multi Family
Additional Details
Road Access
Yes
Multifamily Units
2
Taxes and HOA fees
Annual Taxes
$2,875
Building Details
Building Size
2,016 SF
Year Built
1900
Buildings
1
Stories
2
Units
2
Listing Agency:
NextHome, Inc
Listed By:
Jared P Palmer · License #10401254396,PersonLicenseNumber
(585) 451-0342
Source:
Elliman
Added: Sep 11
Changed: Oct 25
Last Checked: Oct 30 at 2:37PM
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 NextHome, Inc
Ask AI about this property
Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
This two-unit residential income property offers over 2,000 square feet of living space on just about one acre. The layout includes two units with a combined five bedrooms and two full bathrooms, providing a flexible configuration for rental use, owner occupancy, or multigenerational living. Built in 1900, the property is described as well maintained.
The duplex is located at 2321 State Route 14 in Lyons, with access to Geneva, Seneca Lake, Cayuga Lake, area wineries, outdoor recreation, and major commuter routes. Its car-dependent setting is reflected by a walk score of 0 and a bike score of 20.
The duplex is located at 2321 State Route 14 in Lyons, with access to Geneva, Seneca Lake, Cayuga Lake, area wineries, outdoor recreation, and major commuter routes. Its car-dependent setting is reflected by a walk score of 0 and a bike score of 20.
Key Highlights
- Two residential units with a combined 5 bedrooms and 2 full bathrooms
- Over 2,000 square feet of living space
- Just about one acre of land
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$17,194
Cap Rate
6.88%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$343,880
$343.9K
Cap Rate 7%
$245,629
$245.6K
Cap Rate 9%
$191,044
$191.0K
Market Conditions
NOI Build-Up for 2,016 SF
Gross rent
$27.8K $13.80/SF
− Vacancy
−$3.3K −$1.62/SF
EGI
$24.6K $12.18/SF
− OpEx
−$7.4K −$3.66/SF
NOI
$17.2K $8.53/SF
Area
Wayne County, NY
Vacancy
11.71%
Lease Rate
$13.80 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$343,880
Cap Rate 7%
$245,629
Cap Rate 9%
$191,044
Alternative Uses
Best Use
Multifamily LT 5
$245.6K
$214.9K – $286.6K
NOI $17,194 @ 7.0% cap · market cap 6.88%
Second Best
Apartment 5plus
$216.6K
$189.6K – $252.8K
NOI $15,165 @ 7.0% cap · market cap 6.07%
Theoretical Best
Office A
$543.1K
$475.2K – $633.6K
NOI $38,015 @ 7.0% cap · market cap 15.21%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Who owns this building?
See the owner, sales and loan history
Open Analytics
Lease Details
2
Residential units
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
2
Businesses Nearby
Explore this area
Business Placement
Demographics for 14489, NY
7,347
Population
3,065
Households
2.4
Avg Household Size
44
Median Age
19%
College-Educated
83%
High-School Grad
69.6 sq mi
ZIP Area
106
Density / Sq Mi
$67,169
Median Household Income
$36,415
Median Earnings
$966
Median Rent
$101,100
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Multifamily in Northeast region
Frequently Asked Questions
What type of property is this?
Duplex - Well-maintained duplex with separate living units and a substantial residential footprint on approximately one acre.
Where is this duplex located?
The property is located at 2321 State Route 14 Lyons, NY.
What is the asking price?
The asking price for this property is $249,900.
What are key features of this property?
This property features: Two residential units with a combined 5 bedrooms and 2 full bathrooms; Over 2,000 square feet of living space; Just about one acre of land
