Side-by-Side Multifamily
For Sale
$165,000
352-354 E Fourth St, Jamestown, NY 14701
Two adjacent residences offer separate occupancy profiles, with one fully occupied and the other recently refreshed and vacant.
Property Size2,003 SF
Days on Market20
Property Features for 352-354 E Fourth St
General Information
Standard status
Active
Size
2,003 SF
Property subtype
Multi Family
Additional Details
Utilities to Site
Yes
Taxes and HOA fees
Annual Taxes
$1,627
Amenities
garage
Building Details
Building Size
2,003 SF
Year Built
1905
Buildings
2
Stories
2
Units
7
Listing Agency:
Howard Hanna Holt Real Estate
Listed By:
Brenda Strasser · License #40ST1119351
(716) 499-6945
Source:
Elliman
Added: Sep 7
Changed: Sep 20
Last Checked: Sep 24 at 2:35PM
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 Howard Hanna Holt Real Estate
Investment Insights
Based on property information with market context.
This multifamily offering includes two side-by-side houses at 352-354 E Fourth St. The property dates to 1905 and includes a vacant two-unit residence at 352 with new paint and flooring. The adjoining house at 354 is fully occupied. The owner currently pays all utilities for both houses, and appointments are required for access.
The combined parcel measures 70 x 134. Both residences are included in one sale, providing separate structures with differing occupancy conditions. Walk Score is 88, rated Very Walkable, while BikeScore is 33, rated Somewhat Bikeable.
The combined parcel measures 70 x 134. Both residences are included in one sale, providing separate structures with differing occupancy conditions. Walk Score is 88, rated Very Walkable, while BikeScore is 33, rated Somewhat Bikeable.
Key Highlights
- Two side‑by‑side houses included in one sale
- 352 E Fourth St is a vacant 2‑unit residence
- 354 E Fourth St is fully occupied
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
$15,164
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
9.19%
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%
$303,280
$303.3K
Cap Rate 7%
$216,629
$216.6K
Cap Rate 9%
$168,489
$168.5K
Market Conditions
NOI Build-Up for 2,003 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
$31.7K $15.84/SF
− Vacancy
−$4.2K −$2.08/SF
EGI
$27.6K $13.76/SF
− OpEx
−$12.4K −$6.19/SF
NOI
$15.2K $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 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%
$303,280
Cap Rate 7%
$216,629
Cap Rate 9%
$168,489
Alternative Uses
Best Use
Multifamily LT 5
$236.8K
$207.2K – $276.2K
NOI $16,574 @ 7.0% cap · market cap 10.04%
Second Best
Apartment 5plus
$216.6K
$189.6K – $252.7K
NOI $15,164 @ 7.0% cap · market cap 9.19%
Theoretical Best
Office A
$599.5K
$524.6K – $699.5K
NOI $41,967 @ 7.0% cap · market cap 25.43%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
1,750
Businesses Nearby
Explore this area
Business Placement
Demographics for 14701, NY
38,428
Population
19,469
Households
2
Avg Household Size
42
Median Age
25%
College-Educated
90%
High-School Grad
92.6 sq mi
ZIP Area
415
Density / Sq Mi
$50,909
Median Household Income
$34,592
Median Earnings
$769
Median Rent
$98,400
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?
Multifamily property - Two adjacent residences offer separate occupancy profiles, with one fully occupied and the other recently refreshed and vacant.
Where is this multifamily property located?
The property is located at 352-354 E Fourth St Jamestown, NY.
What is the asking price?
The asking price for this property is $165,000.
What are key features of this property?
This property features: Two side‑by‑side houses included in one sale; 352 E Fourth St is a vacant 2‑unit residence; 354 E Fourth St is fully occupied
