Victorian-Style Duplex Student
New
For Sale
$225,000
29 North St, Geneseo, NY 14454
Two separate living levels provide kitchens, bedrooms, full baths, and access to a backyard deck.
Property Size2,000 SF
Days on Market3
Property Features for 29 North St
General Information
Standard status
Active
Size
2,000 SF
Property subtype
Multi Family
Taxes and HOA fees
Annual Taxes
$5,157
Building Details
Building Size
2,000 SF
Year Built
1900
Stories
2
Units
2
Listing Agency:
(862) 268-5359
Listed By:
Pattie M. Cavanaugh
(862) 268-5359
Source:
Elliman
Added: Aug 12
Changed: Aug 13
Last Checked: Aug 13 at 5:58AM
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 Pattie M. Cavanaugh
Investment Insights
Based on property information with market context.
Built in 1900, this Victorian-style duplex is configured as two self-contained living levels and is currently occupied by five students. The first floor includes two bedrooms, a living room with an electric fireplace, an eat-in kitchen, and a full bathroom. Upstairs are three bedrooms, another eat-in kitchen, and a full bathroom, along with access to a deck facing the backyard.
The property is located at 29 North St in Geneseo, New York. Outdoor features include backyard space and off-street parking. Walk Score is 54 and Bike Score is 33, placing the property in the Somewhat Walkable and Somewhat Bikeable categories, respectively.
The property is located at 29 North St in Geneseo, New York. Outdoor features include backyard space and off-street parking. Walk Score is 54 and Bike Score is 33, placing the property in the Somewhat Walkable and Somewhat Bikeable categories, respectively.
Key Highlights
- Duplex currently used as a student rental with five students occupying the house
- First floor has two bedrooms, living room, eat‑in kitchen, full bath, and electric fireplace
- Second floor includes three bedrooms, eat‑in kitchen, full bath, and deck access
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
$20,517
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
9.12%
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%
$410,340
$410.3K
Cap Rate 7%
$293,100
$293.1K
Cap Rate 9%
$227,967
$228.0K
Market Conditions
NOI Build-Up for 2,000 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
$39.6K $19.80/SF
− Vacancy
−$2.3K −$1.15/SF
EGI
$37.3K $18.65/SF
− OpEx
−$16.8K −$8.39/SF
NOI
$20.5K $10.26/SF
Area
Livingston County, NY
Vacancy
5.80%
Lease Rate
$19.80 /SF/Yr
Expense Ratio
45.00%
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%
$410,340
Cap Rate 7%
$293,100
Cap Rate 9%
$227,967
Alternative Uses
Best Use
Multifamily LT 5
$328.8K
$287.7K – $383.6K
NOI $23,018 @ 7.0% cap · market cap 10.23%
Second Best
Apartment 5plus
$293.1K
$256.5K – $342.0K
NOI $20,517 @ 7.0% cap · market cap 9.12%
Theoretical Best
Office A
$547.9K
$479.4K – $639.2K
NOI $38,352 @ 7.0% cap · market cap 17.05%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
492
Businesses Nearby
Explore this area
Business Placement
Demographics for 14454, NY
10,759
Population
3,937
Households
2.7
Avg Household Size
28
Median Age
50%
College-Educated
95%
High-School Grad
47.6 sq mi
ZIP Area
226
Density / Sq Mi
$66,629
Median Household Income
$12,055
Median Earnings
$1,000
Median Rent
$217,900
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 - Two separate living levels provide kitchens, bedrooms, full baths, and access to a backyard deck.
Where is this duplex located?
The property is located at 29 North St Geneseo, NY.
What is the asking price?
The asking price for this property is $225,000.
What are key features of this property?
This property features: Duplex currently used as a student rental with five students occupying the house; First floor has two bedrooms, living room, eat‑in kitchen, full bath, and electric fireplace; Second floor includes three bedrooms, eat‑in kitchen, full bath, and deck access
