Two-Unit Residential Income
241 Decatur Street Corning, NY 14830
241 Decatur Street, Corning, NY, 14830
$150,000
Pending
For Sale
$150,000
Pending
MULTI_FAMILY - Other - Corning, NY
Property Size1,844 SF
Lot Size0.17 Acres
Days on Market48
Property Features for 241 Decatur Street
General Information
- Property type
- Residential Multi Family
- Property subtype
- Other
- Bedrooms
- 5
- Bathrooms
- 2
- Rooms
- Bedroom 3, Basement, Bedroom 2, Bathroom 2, Bathroom 1, Bedroom 1, Bedroom 4, Bedroom 5
- Patio and Porch features
- Deck, Porch
- Interior features
- CeilingFans
- Exterior features
- Deck
- Appliances
- GasWaterHeater, WaterHeaterRented
- Standard status
- Pending
- APN
- 460300-299-020-0003-002-000
- Size
- 1,844 SF
- Lot size
- 0.17 Acres
Taxes and HOA fees
- Tax Annual Amount
- 4898
Utilities
- Heating system
- Natural Gas, Baseboard
- Water source
- Public
Building Details
- Year built
- 1897
- Floors in Building
- 2
- Number of units
- 2
- Flooring type
- Laminate, Carpet, Varies
- Building materials
- VinylSiding
- Roof type
- Asphalt, Shingle
- Architectural style
- Other
Listing Agency
Keller Williams Realty Southern Tier & Finger Lakes
(607) 795-2900
21 E MARKET ST, SUITE 101, Elmira, NY
Listed by
Daniel J. Mower · License #10301205665
(607) 207-6257
Added: Jun 1 Checked: Jul 18 at 6:06 am
MLS# R1684672
Listing URL
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 well-kept two-unit duplex is designed for straightforward long-term rental use. The first-floor unit features two bedrooms and one full bath with in-unit laundry, along with a kitchen and living room. The second-floor unit offers three bedrooms and one full bath, also with its own laundry facilities. Utilities are separately metered and tenant-paid, while the owner is currently responsible for water and sewer. Recent improvements include replacement windows, vinyl siding, and a roof installed in 2010.
241 Decatur Street is located in a highly convenient, walkable Corning setting close to grocery stores, Market Street, downtown, restaurants, shops, museums, and everyday amenities. The upstairs unit is occupied by a stable, long-term tenant of approximately six years, currently paying below-market rent and receiving a $100 per month discount for lawn care and snow removal. The lower unit will be vacated shortly.
The property fits investors seeking an income-producing duplex with practical fundamentals and manageable owner responsibilities. It may also appeal to an owner-occupant who plans to live in one unit while using rental income from the other to help offset housing costs. With in-place tenancy upstairs and a first-floor unit poised to be re-leased, the structure supports continued rent growth over time.
241 Decatur Street is located in a highly convenient, walkable Corning setting close to grocery stores, Market Street, downtown, restaurants, shops, museums, and everyday amenities. The upstairs unit is occupied by a stable, long-term tenant of approximately six years, currently paying below-market rent and receiving a $100 per month discount for lawn care and snow removal. The lower unit will be vacated shortly.
The property fits investors seeking an income-producing duplex with practical fundamentals and manageable owner responsibilities. It may also appeal to an owner-occupant who plans to live in one unit while using rental income from the other to help offset housing costs. With in-place tenancy upstairs and a first-floor unit poised to be re-leased, the structure supports continued rent growth over time.
Key Highlights
- Two‑unit property: first‑floor unit has 2 bedrooms and 1 full bath; second‑floor unit has 3 bedrooms and 1 full bath
- Separate utilities with tenant‑paid metering; owner currently pays water/sewer
- Each apartment includes its own laundry facilities
Local Financial Insights For Multifamily LT 5
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $18.8k | $10.20 |
| − Vacancy | −$982 | −$0.53 |
| EGI | $17.8k | $9.67 |
| − OpEx | −$5.3k | −$2.90 |
| NOI | $12.5k | $6.77 |
1,844 SF · lease $10.20/SF/yr · vacancy 5.22% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$178.3K
$156.0K – $208.0K
NOI $12,479 @ 7.0% cap · market cap 8.32%
Second Best
Apartment 5plus
$164.3K
$143.8K – $191.7K
NOI $11,501 @ 7.0% cap · market cap 7.67%
Theoretical Best
Office A
$449.5K
$393.4K – $524.5K
NOI $31,468 @ 7.0% cap · market cap 20.98%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
Duplexes
Similar For Sale Nearby
FAQs
What type of property is this?
Duplex - Well-kept 2-unit duplex with separate utilities and in-unit laundry, offering existing income and upside potential.
Where is this duplex located?
The property is located at 241 Decatur Street Corning, NY.
What is the asking price?
The asking price for this property is $150,000.
What are key features of this property?
This property features: Two‑unit property: first‑floor unit has 2 bedrooms and 1 full bath; second‑floor unit has 3 bedrooms and 1 full bath; Separate utilities with tenant‑paid metering; owner currently pays water/sewer; Each apartment includes its own laundry facilities
