Two-Unit Residential Building For
For Sale
$159,900
347 Seneca Rd, Hornell, NY 14843
Two-unit residential building with rental income potential in North Hornell.
Property Size1,632 SF
Price / SF$97.98
Days on Market220
Property Features for 347 Seneca Rd
General Information
Standard status
Active
Size
1,632 SF
Property subtype
Multi-Family
Building Details
Year Built
1930
Listing Agency:
SVR Realty LLC
Listed By:
Stephen A. Terwilliger · License #10311204571
(607) 423-8711
Source:
Skinnercnyrealty
Added: Mar 25
Changed: Oct 25
Last Checked: Oct 7 at 3:01PM
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 SVR Realty LLC
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Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
This is a 2-unit residential building. One unit features two bedrooms and one full bathroom, with a monthly rental income of $900. The second unit includes one bedroom and one bathroom, generating $800 per month in rent. Municipal water and sewer services are included in the rent. Each tenant is responsible for their own electricity expenses. The owner covers the cost of natural gas. Tenants have access to separate laundry facilities. The building is equipped with a gas-fired, hot air heating system and is located in North Hornell, NY.
Key Highlights
- Two‑unit building provides immediate rental income potential.
- Separate laundry facilities for tenants.
- Tenants pay for their own electricity.
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$11,044
Cap Rate
6.91%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$220,880
$220.9K
Cap Rate 7%
$157,771
$157.8K
Cap Rate 9%
$122,711
$122.7K
Market Conditions
NOI Build-Up for 1,632 SF
Gross rent
$16.6K $10.20/SF
− Vacancy
−$869 −$0.53/SF
EGI
$15.8K $9.67/SF
− OpEx
−$4.7K −$2.90/SF
NOI
$11.0K $6.77/SF
Area
Steuben County, NY
Vacancy
5.22%
Lease Rate
$10.20 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$220,880
Cap Rate 7%
$157,771
Cap Rate 9%
$122,711
Alternative Uses
Best Use
Multifamily LT 5
$157.8K
$138.1K – $184.1K
NOI $11,044 @ 7.0% cap · market cap 6.91%
Second Best
Apartment 5plus
$145.4K
$127.2K – $169.7K
NOI $10,179 @ 7.0% cap · market cap 6.37%
Theoretical Best
Office A
$397.9K
$348.1K – $464.2K
NOI $27,850 @ 7.0% cap · market cap 17.42%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Who owns this building?
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Open Analytics
Location Intelligence
Trade Area within ½ mile
181
Businesses Nearby
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Business Placement
Demographics for 14843, NY
12,637
Population
6,353
Households
2
Avg Household Size
42
Median Age
21%
College-Educated
93%
High-School Grad
95.7 sq mi
ZIP Area
132
Density / Sq Mi
$56,004
Median Household Income
$36,286
Median Earnings
$766
Median Rent
$104,300
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Multifamily in Northeast region
Frequently Asked Questions
What type of property is this?
Duplex - Two-unit residential building with rental income potential in North Hornell.
Where is this duplex located?
The property is located at 347 Seneca Rd Hornell, 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‑unit building provides immediate rental income potential.; Separate laundry facilities for tenants.; Tenants pay for their own electricity.
