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    Income-Generating Duplex with Detached Garage Title is generated by Realmo AI

    3301 Watkins Road, Horseheads, NY 14845

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    For Sale
    $323,000

    MULTI_FAMILY - Horseheads, NY

    Property size:
    2,950 SF
    Lot size:
    11.40 Acres
    Price / SF:
    $109/SF
    Added:
    Jun 1, 2026
    Days on Market:
    4
    Last Refresh:
    Jun 4 at 1:06 am

    Property Features for 3301 Watkins Road

    General Information

    Property type
    Residential Multi Family
    Property subtype
    Other
    Bedrooms
    4
    Bathrooms
    2
    Rooms
    Bathroom 2, Bathroom 1, Bedroom 1, Bedroom 2, Bedroom 3, Bedroom 4
    Patio and Porch features
    Deck
    Interior features
    PullDownAtticStairs
    Exterior features
    Deck, Pool
    Fireplace
    1
    Appliances
    GasWaterHeater
    Standard status
    Active
    APN
    074089-038-000-0001-026-000-0000
    Size
    2,950 SF
    Lot size
    11.40 Acres

    Taxes and HOA fees

    Tax Annual Amount
    6545

    Utilities

    Sewer type
    Septic Tank
    Heating system
    Natural Gas, Hot Water(Heating)
    Cooling system
    Central Air
    Water source
    Well

    Building Details

    Year built
    1954
    Floors in Building
    1
    Number of units
    2
    Flooring type
    Varies, Carpet
    Building materials
    VinylSiding
    Roof type
    Shingle

    We can help!

    Listing Contact
    Aleah Sexton

    Listing agent Aleah Sexton License #10401351186

    Listing office Howard Hanna Horseheads 2783 WESTINGHOUSE RD, Corning, NY

    Listing date Jun 1, 2026

    MLS# R1685880 Listing URL

    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.

    HighLights

    • 11.4‑acre property configured as a 1 bed/1 bath lower unit and a 3 bed/1 bath upper unit
    • Interior stairwell connection between lower and upper units for flexible living or conversion options
    • 2+ car detached garage with 6‑inch concrete floor, 10‑ft ceilings, and 2 electric overhead insulated doors
    • Includes deck and pool, plus a large north‑side shed with 2 lofts
    • Water and wastewater: well water and septic tank
    • Home built in 1954 with central air, natural gas/hot water heating, vinyl siding, and a shingle roof

    Overview

    Set on 11.4 acres, this property was originally built as a single residence and is currently configured as a two-unit home connected by an interior stairwell for straightforward multi-use flexibility. The lower level offers 1 bedroom and 1 bathroom, while the upper level features 3 bedrooms and 1 bathroom. The home is described as immaculately maintained, with a layout designed to support multi-generational living today and conversion between uses as needs change.

    A detached 2+ car garage adds major utility and is highlighted by a 6-inch concrete floor, 10-foot ceilings, and 2 electric overhead insulated doors, making it well-suited for vehicles, storage, or workshop use. An additional large shed on the north side of the property includes two lofts, offering extra space for seasonal items or hobby gear. The grounds are described as beautifully landscaped with almost a mile of trails, while still being within reach of nearby amenities.

    For buyers or operators seeking income potential or a home that can adapt to different living arrangements, the connected duplex-style configuration is a practical advantage. The combination of flexible unit layout, substantial outdoor space, and functional outbuildings makes this a strong fit for those who want country privacy without giving up access to everyday conveniences.
    Property Profile Location Intelligence

    Current Use by Public Records

    Duplexes

    Suggested Use

    Building Supply Big Box & Wholesale Store Hair Salon Department Store Discount Store Furniture & Home Goods Grocery & Convenience Store Daycare Center Plumbing Service Nursing Home

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Horseheads
    County
    Chemung
    State
    New York
    Longitude
    -76.842037
    Latitude
    42.201872

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    FAQs

    What type of property is this?
    Duplex - Two connected living units on 11.4 landscaped acres, plus a standout 2+ car garage with high ceilings and overhead doors.
    Where is this duplex located?
    The property is located at 3301 Watkins Road Horseheads, NY.
    What is the asking price?
    The asking price for this property is $323,000.
    What are key features of this property?
    This property features: 11.4‑acre property configured as a 1 bed/1 bath lower unit and a 3 bed/1 bath upper unit; Interior stairwell connection between lower and upper units for flexible living or conversion options; 2+ car detached garage with 6‑inch concrete floor, 10‑ft ceilings, and 2 electric overhead insulated doors
    (607) 483-0045
    We can help!
    Listing Contact
    Aleah Sexton
    Real Estate License ID: 10401351186
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

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