Two-Building Apartment
New
For Sale
$165,000
352-354 E Fourth Street, Jamestown, NY 14701
Residential, Jamestown, NY
Property Size2,003 SF
Price / SF$82.38
Days on Market2
Property Features for 352-354 E Fourth Street
General Information
Property type
Residential Multi Family
Property subtype
Other
Bedrooms
4
Bathrooms
2
Full bathrooms
2
Rooms
Bedroom 4, Bedroom 1, Bedroom 3, Basement, Bathroom 1, Bathroom 2, Bedroom 2
Patio and Porch features
Porch
Appliances
GasWaterHeater
Lot features
Near Public Transit, Rectangular, Rectangular Lot, Residential Lot
Elementary school
Samuel G Love Elementary
Middle school
Washington Middle
High school
Jamestown High
Elementary school district
Jamestown
Middle school district
Jamestown
High school district
Jamestown
Subdivision
Jamestown-City-060800
Standard status
Active
APN
060800-387.41-1-17
Size
2,003 SF
Taxes and HOA fees
Tax Annual Amount
1627
Utilities
Heating system
Other (Heating), Natural Gas
Water source
Public
Building Details
Year built
1905
Floors in Building
2
Number of units
7
Flooring type
Vinyl, Varies, Laminate
Building materials
Frame
Roof type
Asphalt
Listing Agency:
Howard Hanna Holt - Lakewood
(716) 484-4040
Listed By:
Brenda Strasser · License #40ST1119351
(716) 499-6945
Added: Sep 5
Changed: Sep 6
Last Checked: Sep 6 at 1:06PM
MLS# R1712627
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.
Investment Insights
Based on property information with market context.
This offering combines two adjacent frame houses at 352-354 E Fourth Street. The five-unit building is fully rented, while the two-unit property is vacant and includes updated paint and flooring. The vacant building is also described as suitable for office space or a small shop. A garage is included, and the buildings feature porches, asphalt roofing, vinyl and laminate flooring, natural-gas heating, and public water service. The property dates to 1905 and includes a basement.
The combined parcel measures 70 x 134, with the owner paying all utilities for both houses. Appointments are required for access. The vacant two-unit building provides additional space within the package, while the occupied five-unit building supplies an existing residential configuration.
The combined parcel measures 70 x 134, with the owner paying all utilities for both houses. Appointments are required for access. The vacant two-unit building provides additional space within the package, while the occupied five-unit building supplies an existing residential configuration.
Key Highlights
- Two side‑by‑side houses sold together at 352‑354 E Fourth Street
- Five‑unit building is fully rented
- Vacant two‑unit building with new paint and floors
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
Property Profile
Current Use
Lease Details
7
Residential units
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?
Apartment building - Side-by-side apartment buildings include a fully occupied five-unit property and a vacant two-unit building.
Where is this apartment building located?
The property is located at 352-354 E Fourth Street 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 sold together at 352‑354 E Fourth Street; Five‑unit building is fully rented; Vacant two‑unit building with new paint and floors
