Move-In Condition
For Sale
$272,500
285 W Main Street, Fredonia, NY 14063
Currently configured as a two-unit property with updates and a metal roof, offering flexible conversion potential.
Property Size2,248 SF
Days on Market32
Property Features for 285 W Main Street
General Information
Standard status
Active
Size
2,248 SF
Property subtype
Multi Family Home
Site & Location
Fenced Yard
Yes
Utilities to Site
Yes
Additional Details
Multifamily Units
2
Taxes and HOA fees
Annual Taxes
$6,504
Amenities
covered front porch
composite deck
garage
privacy fencing
landscaping
mature trees
Building Details
Building Size
2,248 SF
Year Built
1880
Stories
2
Units
2
Tenancy
Multi
Listing Agency:
Niebel Realty
(716) 410-3400
Listed By:
Rick Scienza
(716) 410-3400
Source:
Northstarwny
Added: Jul 24
Changed: Aug 23
Last Checked: Aug 23 at 4:26AM
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 Niebel Realty
Investment Insights
Based on property information with market context.
This move-in condition duplex is currently set up as a two-unit property, with updates throughout that support immediate occupancy. The home features a modern country kitchen and a bathroom with a soaking tub and separate shower. An updated metal roof and updated utilities are in place, complementing the home’s overall updated feel.
Outside, enjoy a covered front porch, and rear patio doors that open to a 19' x 17' semi-private composite deck. The property includes a large double lot with room for gardening and play, with mature trees, exceptional landscaping, and some privacy fencing around the yard. A two and a half car garage adds practical storage and workspace.
While it is presently arranged as a duplex, the layout can be brought back to a single large home, with the option to open up to a spacious four-bedroom residence.
Outside, enjoy a covered front porch, and rear patio doors that open to a 19' x 17' semi-private composite deck. The property includes a large double lot with room for gardening and play, with mature trees, exceptional landscaping, and some privacy fencing around the yard. A two and a half car garage adds practical storage and workspace.
While it is presently arranged as a duplex, the layout can be brought back to a single large home, with the option to open up to a spacious four-bedroom residence.
Key Highlights
- Built in 1880 with current setup as a two‑unit property, with potential to convert to a four‑bedroom home
- Updates include a modern country kitchen and a bathroom with a soaking tub and separate shower
- Metal roof and all utilities have been updated
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
$18,601
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
6.83%
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%
$372,020
$372.0K
Cap Rate 7%
$265,729
$265.7K
Cap Rate 9%
$206,678
$206.7K
Market Conditions
NOI Build-Up for 2,248 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
$30.3K $13.50/SF
− Vacancy
−$3.8K −$1.68/SF
EGI
$26.6K $11.82/SF
− OpEx
−$8.0K −$3.55/SF
NOI
$18.6K $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%
$372,020
Cap Rate 7%
$265,729
Cap Rate 9%
$206,678
Alternative Uses
Best Use
Multifamily LT 5
$265.7K
$232.5K – $310.0K
NOI $18,601 @ 7.0% cap · market cap 6.83%
Second Best
Apartment 5plus
$243.1K
$212.7K – $283.7K
NOI $17,019 @ 7.0% cap · market cap 6.25%
Theoretical Best
Office A
$672.9K
$588.8K – $785.0K
NOI $47,100 @ 7.0% cap · market cap 17.28%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Multi-tenant
Tenancy
Yes
Fenced yard
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
485
Businesses Nearby
Explore this area
Business Placement
Demographics for 14063, NY
13,028
Population
5,861
Households
2.2
Avg Household Size
34
Median Age
40%
College-Educated
95%
High-School Grad
50.9 sq mi
ZIP Area
256
Density / Sq Mi
$55,629
Median Household Income
$27,358
Median Earnings
$852
Median Rent
$178,500
Median Home Value
Market
Vacancy Rate% for Multifamily in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Duplex - Currently configured as a two-unit property with updates and a metal roof, offering flexible conversion potential.
Where is this duplex located?
The property is located at 285 W Main Street Fredonia, NY.
What is the asking price?
The asking price for this property is $272,500.
What are key features of this property?
This property features: Built in 1880 with current setup as a two‑unit property, with potential to convert to a four‑bedroom home; Updates include a modern country kitchen and a bathroom with a soaking tub and separate shower; Metal roof and all utilities have been updated
