Building Details

Year Built 1930

Buildings 2

Listing Agency: Real Estate Advantage

Listed By: Yvette Jordan · License #10401208583 Show Phone

Source: Skinnercnyrealty

Added: Aug 2 Changed: Oct 15 Last Checked: Oct 15 at 1:22AM

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Investment Insights

Based on property information with market context.

This property includes two separate homes offered together, with current rental use by the day, week, or month. The first residence has two bedrooms, an eat-in kitchen, one bathroom, a covered patio, a remodeled kitchen and bathroom, interior paint updates, and vinyl flooring throughout. The second features an open living, dining, and kitchen arrangement, a loft-style bedroom, another bedroom, vaulted ceilings, skylights, and a covered deck. Both homes have newer roofs and furnaces. The first home was remodeled a few years ago, while the second was painted 6 years ago and received a new furnace.

The residences are within walking distance of Chautauqua Lake and the Bemus Point Stow Ferry, with the Chautauqua Institution approximately four miles away. Interstate 86 is also nearby. The property is located at 3462 Old Bridge Rd in Stow, New York.

Key Highlights

• Two homes included in the sale at 3462 Old Bridge Rd, Stow, NY 14785
• Current rental use by the day, week, and month
• Within walking distance of Chautauqua Lake and the Bemus Point Stow Ferry

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$12,855

Cap Rate

5.87%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$257,100 $257.1K

Cap Rate 7%

$183,643 $183.6K

Cap Rate 9%

$142,833 $142.8K

Is this asking price fair?

Market Conditions

NOI Build-Up for 1,698 SF

Gross rent

$26.9K $15.84/SF

− Vacancy

−$3.5K −$2.08/SF

EGI

$23.4K $13.76/SF

− OpEx

−$10.5K −$6.19/SF

NOI

$12.9K $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%

$257,100

Cap Rate 7%

$183,643

Cap Rate 9%

$142,833

Alternative Uses

Best Use

Apartment 5plus

$183.6K

$160.7K – $214.3K (±1% cap)

NOI $12,855 @ 7.0% cap · market cap 5.87%

Second Best

—

—

no second resolved use

Theoretical Best

Office A

$508.2K

$444.7K – $592.9K (±1% cap)

NOI $35,576 @ 7.0% cap · market cap 16.24%

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

Property Analytics

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Current Use

Short term rental ...

Suggested Use

Top Pick Plumbing Service Storage Facility Furniture & Home Goods Grocery & Convenience Store Bakery Big Box & Wholesale Store

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Lease Details

2

Residential units

Yes

Highway access

Location Intelligence

Trade Area within ½ mile

38

Businesses Nearby

Explore this area Business Placement

Demographics for 14785, NY

54

Population

32

Households

1.7

Avg Household Size

63

Median Age

0.2 sq mi

ZIP Area

270

Density / Sq Mi

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?

Short term rental property - Two residences offer flexible day, week, and monthly rental use near Chautauqua Lake.

Where is this short term rental property located?

The property is located at 3462 Old Bridge Rd Stow, NY.

What is the asking price?

The asking price for this property is $219,000.

What are key features of this property?

This property features: Two homes included in the sale at 3462 Old Bridge Rd, Stow, NY 14785; Current rental use by the day, week, and month; Within walking distance of Chautauqua Lake and the Bemus Point Stow Ferry