Duplex Renovation
For Sale
Contact for pricing
353 Columbia St, Elmira, NY 14901
Two-unit residential building requiring full interior reconstruction, with separate electric metering for each unit.
Property Size2,082 SF
Days on Market56
Property Features for 353 Columbia St
General Information
Standard status
Active
Size
2,082 SF
Property subtype
Multi Family
Property Condition
Severity
Major Repairs Needed
Evidence
gutted to the studs
Additional Details
Highway Access
Yes
Multifamily Units
2
Taxes and HOA fees
Annual Taxes
$3,274
Building Details
Building Size
2,082 SF
Year Built
1870
Stories
2
Units
2
Listing Agency:
RealtyUSA.com
Listed By:
Nicholas Magera · License #10401326121
(607) 426-4541
Source:
Elliman
Added: Aug 24
Changed: Oct 16
Last Checked: Oct 16 at 10:17AM
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 RealtyUSA.com
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Investment Insights
Based on property information with market context.
Built in 1870, this two-unit residential property is currently stripped to the studs and offers a full reconstruction opportunity. The existing configuration is set up for 2/3 bedrooms per unit, with separate electric meters serving each side.
The property is located at 353 Columbia St in Elmira, within walking distance of LECOM and Arnot hospital. I-86 is a short drive away. The location records a walkScore of 80 and a bikeScore of 81, reflecting walkable and bike-friendly access to nearby destinations.
The property is located at 353 Columbia St in Elmira, within walking distance of LECOM and Arnot hospital. I-86 is a short drive away. The location records a walkScore of 80 and a bikeScore of 81, reflecting walkable and bike-friendly access to nearby destinations.
Key Highlights
- Duplex configuration set up for 2/3 bedrooms per unit
- Interior is gutted to the studs for complete reconstruction
- Separate electric meters for each unit
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$1,306,185
Suggested Prices Based on Cap Rates
Cap Rate 5%
$26,123,700
$26.1M
Cap Rate 7%
$18,659,786
$18.7M
Cap Rate 9%
$14,513,167
$14.5M
Market Conditions
NOI Build-Up for 2,082 SF
Gross rent
$2.42M $1,160.40/SF
− Vacancy
−$41.1K −$19.73/SF
EGI
$2.37M $1,140.67/SF
− OpEx
−$1.07M −$513.30/SF
NOI
$1.31M $627.37/SF
Area
Chemung County, NY
Vacancy
1.70%
Lease Rate
$1,160.40 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$26,123,700
Cap Rate 7%
$18,659,786
Cap Rate 9%
$14,513,167
Alternative Uses
Best Use
Multifamily LT 5
$18.95M
$16.58M – $22.11M
NOI $1,326,677 @ 7.0% cap · market cap 6,666.72%
Second Best
Apartment 5plus
$18.66M
$16.33M – $21.77M
NOI $1,306,185 @ 7.0% cap · market cap 6,563.74%
Theoretical Best
—
—
same as Best Use
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
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Current Use
Lease Details
2
Residential units
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
1,046
Businesses Nearby
Explore this area
Business Placement
Demographics for 14901, NY
14,893
Population
6,739
Households
2.2
Avg Household Size
38
Median Age
16%
College-Educated
80%
High-School Grad
33.2 sq mi
ZIP Area
449
Density / Sq Mi
$40,524
Median Household Income
$28,369
Median Earnings
$835
Median Rent
$90,300
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in Northeast region
Frequently Asked Questions
What type of property is this?
Duplex - Two-unit residential building requiring full interior reconstruction, with separate electric metering for each unit.
Where is this duplex located?
The property is located at 353 Columbia St Elmira, NY.
What are key features of this property?
This property features: Duplex configuration set up for 2/3 bedrooms per unit; Interior is gutted to the studs for complete reconstruction; Separate electric meters for each unit
