Two-Unit Duplex with Detached
New
For Sale
$199,900
275 E Main St, Westfield, NY 14787
Both apartments have two bedrooms and one full bathroom, with laundry and a finished room in the basement.
Property Size1,888 SF
Days on Market4
Property Features for 275 E Main St
General Information
Standard status
Active
Size
1,888 SF
Property subtype
Multi Family
Units
Unit Mix
2 x 2BR/1BA
Multifamily Units
2
Taxes and HOA fees
Annual Taxes
$4,397
Amenities
laundry facilities
Building Details
Building Size
1,888 SF
Year Built
1920
Units
2
Listing Agency:
Howard Hanna Holt Real Estate
Listed By:
Lora Reed · License #10401354935
(716) 581-1518
Source:
Elliman
Added: Oct 2
Changed: Oct 3
Last Checked: Oct 4 at 10:27AM
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 Howard Hanna Holt Real Estate
Investment Insights
Based on property information with market context.
Built in 1920, this duplex contains two apartments, each with two bedrooms and one full bathroom. The first-floor unit has hardwood flooring, an enclosed front porch, a living room with a fireplace, and pocket doors. The second-floor apartment adds a separate residential layout; it has not previously been rented or occupied as a separate unit.
A full basement contains laundry facilities and a finished room. Outside, the property includes a detached garage with storage above and a separate shed. The home is located on E Main St in Westfield, near village stores and amenities.
A full basement contains laundry facilities and a finished room. Outside, the property includes a detached garage with storage above and a separate shed. The home is located on E Main St in Westfield, near village stores and amenities.
Key Highlights
- Two apartments, each with 2 bedrooms and 1 full bathroom
- First‑floor unit features hardwood floors, enclosed porch, fireplace, and pocket doors
- Full basement with laundry facilities and a finished room
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
$15,622
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
7.81%
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%
$312,440
$312.4K
Cap Rate 7%
$223,171
$223.2K
Cap Rate 9%
$173,578
$173.6K
Market Conditions
NOI Build-Up for 1,888 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
$25.5K $13.50/SF
− Vacancy
−$3.2K −$1.68/SF
EGI
$22.3K $11.82/SF
− OpEx
−$6.7K −$3.55/SF
NOI
$15.6K $8.27/SF
Area
Chautauqua County, NY
Vacancy
12.44%
Lease Rate
$13.50 /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%
$312,440
Cap Rate 7%
$223,171
Cap Rate 9%
$173,578
Alternative Uses
Best Use
Multifamily LT 5
$223.2K
$195.3K – $260.4K
NOI $15,622 @ 7.0% cap · market cap 7.81%
Second Best
Apartment 5plus
$204.2K
$178.7K – $238.2K
NOI $14,294 @ 7.0% cap · market cap 7.15%
Theoretical Best
Office A
$565.1K
$494.5K – $659.3K
NOI $39,557 @ 7.0% cap · market cap 19.79%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
166
Businesses Nearby
Explore this area
Business Placement
Demographics for 14787, NY
4,825
Population
2,669
Households
1.8
Avg Household Size
49
Median Age
29%
College-Educated
89%
High-School Grad
42.7 sq mi
ZIP Area
113
Density / Sq Mi
$47,656
Median Household Income
$46,684
Median Earnings
$685
Median Rent
$116,100
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in Northeast region
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Frequently Asked Questions
What type of property is this?
Duplex - Both apartments have two bedrooms and one full bathroom, with laundry and a finished room in the basement.
Where is this duplex located?
The property is located at 275 E Main St Westfield, NY.
What is the asking price?
The asking price for this property is $199,900.
What are key features of this property?
This property features: Two apartments, each with 2 bedrooms and 1 full bathroom; First‑floor unit features hardwood floors, enclosed porch, fireplace, and pocket doors; Full basement with laundry facilities and a finished room
