Duplex with Enclosed
New
For Sale
$199,900
275 E Main Street, Westfield, NY 14787
Residential, Westfield, NY
Property Size1,888 SF
Lot Size0.52 Acres
Price / SF$105.88
Days on Market7
Property Features for 275 E Main Street
General Information
Property type
Residential Multi Family
Property subtype
Other
Bedrooms
4
Bathrooms
2
Full bathrooms
2
Rooms
Basement, Bathroom 2, Bedroom 1, Bedroom 3, Bedroom 4, Bathroom 1, Bedroom 2
Parking features
Open
Patio and Porch features
Porch
Exterior features
EnclosedPorch, Porch
Fireplace
1
Appliances
GasWaterHeater
Lot features
Rectangular, Rectangular Lot, Residential Lot
Elementary school district
Westfield Academy and Central
Middle school district
Westfield Academy and Central
High school district
Westfield Academy and Central
Directions
Rt 394 right onto main street rt 20 house will be on the left hand side
Subdivision
Westfield-Village-067201
Standard status
Active
APN
067201-193-010-0001-008-000
Size
1,888 SF
Lot size
0.52 Acres
Taxes and HOA fees
Tax Annual Amount
4397
Utilities
Heating system
Forced Air, Natural Gas
Cooling system
Central Air
Water source
Public
Amenities
enclosed front porch
fireplace
original pocket doors
full basement with laundry facilities
finished room
detached garage
shed
Building Details
Year built
1920
Floors in Building
1
Number of units
2
Flooring type
Hardwood, Tile, Varies, Laminate
Building materials
VinylSiding
Architectural style
Other
Listing Agency:
Howard Hanna Holt - Mayville
(716) 753-7880
Listed By:
Lora Reed · License #10401354935
(716) 581-1518
Added: Sep 29
Changed: Oct 2
Last Checked: Oct 5 at 7:06AM
MLS# R1718022
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 1,888-square-foot duplex, built in 1920, contains two two-bedroom, one-bathroom residences. The first-floor unit has hardwood floors, an enclosed front porch, a fireplace, and pocket doors. The second-floor unit provides a separate living area; it has not previously been rented or occupied as a separate residence. Central air conditioning and forced-air, natural gas heating serve the property.
The full basement includes laundry facilities and a finished room that can accommodate office, recreation, or storage use. A detached garage has storage space above, and an additional shed provides more on-site storage. The property occupies 0.5234 acres in Westfield, NY.
The full basement includes laundry facilities and a finished room that can accommodate office, recreation, or storage use. A detached garage has storage space above, and an additional shed provides more on-site storage. The property occupies 0.5234 acres in Westfield, NY.
Key Highlights
- Two units, each with 2 bedrooms and 1 full bathroom
- 1,888 square feet; built in 1920
- 0.5234‑acre parcel in Westfield, NY
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
Check the figures for this property
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 - Two residences each offer two bedrooms and one full bathroom, with laundry facilities and a finished basement room.
Where is this duplex located?
The property is located at 275 E Main Street 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 units, each with 2 bedrooms and 1 full bathroom; 1,888 square feet; built in 1920; 0.5234‑acre parcel in Westfield, NY
