Two-Unit Residential Income
241 Decatur Street, Corning, NY 14830
New
MULTI_FAMILY - Other - Corning, NY
Property size:
1,844 SFLot size:
0.17 AcresPrice / SF:
$81/SF- Added:
- Jun 1, 2026
- Days on Market:
- 3
- Last Refresh:
- Jun 3 at 6:06 am
Property Features for 241 Decatur Street
General Information
- Property type
- Residential Multi Family
- Property subtype
- Other
- Bedrooms
- 5
- Bathrooms
- 2
- Rooms
- Bedroom 1, Bedroom 4, Bedroom 3, Bathroom 2, Bedroom 2, Basement, Bedroom 5, Bathroom 1
- Patio and Porch features
- Porch, Deck
- Interior features
- CeilingFans
- Exterior features
- Deck
- Appliances
- GasWaterHeater, WaterHeaterRented
- Standard status
- Active
- 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
- Baseboard, Natural Gas
- Water source
- Public
Building Details
- Year built
- 1897
- Floors in Building
- 2
- Number of units
- 2
- Flooring type
- Carpet, Laminate, Varies
- Building materials
- VinylSiding
- Roof type
- Shingle, Asphalt
- Architectural style
- Other
Listing agent Daniel J. Mower License #10301205665 (607) 207-6257
Listing office Keller Williams Realty Southern Tier & Finger Lakes 21 E MARKET ST, SUITE 101, Elmira, NY (607) 795-2900
Listing date Jun 1, 2026
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.
HighLights
- 2‑unit property at 241 Decatur St with a 2BR/1BA first‑floor unit and a 3BR/1BA second‑floor unit
- Separate utilities and tenant‑paid metering; owner currently responsible for water/sewer
- Each unit has its own laundry facilities
- 2010 roof and replacement windows; exterior includes vinyl siding
- Basement included; flooring includes carpet and laminate
- Deck and porch; tenant in the upstairs unit has been there for approximately 6 years
Overview
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.
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 Profile
Location Intelligence
Current Use by Public Records
Duplexes
Location Insight
- Map
- Local Demand
- City
- Corning
- County
- Steuben
- State
- New York
- Longitude
- -77.059988
- Latitude
- 42.155993
Nearby Similar for Sale
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: 2‑unit property at 241 Decatur St with a 2BR/1BA first‑floor unit and a 3BR/1BA second‑floor unit; Separate utilities and tenant‑paid metering; owner currently responsible for water/sewer; Each unit has its own laundry facilities
