Building Details

Building Size 1,920 SF

Year Built 1930

Year Renovated 2025

Buildings 1

Stories 2

Units 2

Listing Agency: Real Estate Advantage h***@reahomesearch.com Show Phone

Listed By: Richard J. Benedetto · License #31BE0882362 Show Phone

Source: Chautauqualakehomesforsale

Added: Jul 13 Changed: Oct 30 Last Checked: Oct 29 at 6:36PM

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Investment Insights

Based on property information with market context.

This 1,920-square-foot multifamily property, built in 1930, contains two residences. The lower unit has an open-concept living and dining area, a kitchen with an island and included appliances, two bedrooms, and sliding doors from the main bedroom to a rear deck. A gas fireplace with a stone facade is in the living room, currently used as a bedroom. The upper apartment has one bedroom, potential for a second, in-unit laundry, and an eat-in kitchen. A month-to-month tenant in the upper unit would like to remain.

Updates include vinyl siding, newer windows, PVC and copper plumbing, basement drain tile, electrical service, a hot water tank, and a furnace; the latter three are less than 10 years old. The roof was replaced in 2025. The property is in Silver Creek, minutes from Sunset Bay and Hidaway Bay Resort.

Key Highlights

• Two residences in a 1,920‑square‑foot building
• Lower unit has two bedrooms and a rear deck
• Upper apartment has one bedroom, with potential for a second

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$14,536

Cap Rate

9.09%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$290,720 $290.7K

Cap Rate 7%

$207,657 $207.7K

Cap Rate 9%

$161,511 $161.5K

Is this asking price fair?

Market Conditions

NOI Build-Up for 1,920 SF

Gross rent

$30.4K $15.84/SF

− Vacancy

−$4.0K −$2.08/SF

EGI

$26.4K $13.76/SF

− OpEx

−$11.9K −$6.19/SF

NOI

$14.5K $7.57/SF

Area

Chautauqua County, NY

Vacancy

13.10%

Lease Rate

$15.84 /SF/Yr

Expense Ratio

45.00%

Simulate Cap Rate and NOI

Suggested Prices Based on Cap Rates

Cap Rate 5%

$290,720

Cap Rate 7%

$207,657

Cap Rate 9%

$161,511

Alternative Uses

Best Use

Multifamily LT 5

$227.0K

$198.6K – $264.8K (±1% cap)

NOI $15,887 @ 7.0% cap · market cap 9.94%

Second Best

Apartment 5plus

$207.7K

$181.7K – $242.3K (±1% cap)

NOI $14,536 @ 7.0% cap · market cap 9.09%

Theoretical Best

Office A

$574.7K

$502.9K – $670.5K (±1% cap)

NOI $40,228 @ 7.0% cap · market cap 25.16%

Zoning and permitted uses should be independently verified with authorities. How Realmo checks its estimates

Property Analytics

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Open Analytics

Lease Details

2

Residential units

Location Intelligence

Trade Area within ½ mile

192

Businesses Nearby

Explore this area Business Placement

Demographics for 14136, NY

5,029

Population

2,699

Households

1.9

Avg Household Size

43

Median Age

26%

College-Educated

92%

High-School Grad

24.3 sq mi

ZIP Area

207

Density / Sq Mi

$68,875

Median Household Income

$44,199

Median Earnings

$928

Median Rent

$143,700

Median Home Value

Market

Vacancy Rate% for Multifamily in Northeast region

4% 2022

4.6% 2023

5.3% 2024

5.6% 2025

Frequently Asked Questions

What type of property is this?

Multifamily property - The lower residence has an open living area, while the upper apartment includes laundry and an eat-in kitchen.

Where is this multifamily property located?

The property is located at 326 Central Avenue Silver Creek, NY.

What is the asking price?

The asking price for this property is $159,900.

What are key features of this property?

This property features: Two residences in a 1,920‑square‑foot building; Lower unit has two bedrooms and a rear deck; Upper apartment has one bedroom, with potential for a second