Updated Duplex with Barn
For Sale
$219,000
3986 Gerry Levant Rd, Falconer, NY 14733
Two living spaces include an updated main residence and a heated apartment above a barn and garage.
Property Size2,016 SF
Price / SF$108.63
Days on Market140
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Property Features for 3986 Gerry Levant Rd
General Information
Standard status
Active
Size
2,016 SF
Property subtype
Multi-Family
Units
Unit Mix
1 x 3BR/2BA, 1 x 2BR/1BA
Multifamily Units
2
Building Details
Year Built
1900
Buildings
2
Listing Agency:
Keller Williams Realty
Listed By:
Andrew Blakey · License #10401396165
(716) 951-2493
Source:
Skinnercnyrealty
Added: May 29
Changed: Oct 14
Last Checked: Oct 7 at 3:37PM
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 Keller Williams Realty
Investment Insights
Based on property information with market context.
This duplex property combines a three-bedroom, two-bath main residence with a separate two-bedroom, one-bath apartment located above a heated barn and garage. The primary home includes an enclosed porch, laminate flooring, refreshed cabinetry and bathroom vanities, and an on-demand hot water heater. Air conditioning and both electric and gas service are noted. The property was built in 1900 and is listed at 2,016 square feet.
The offering includes 1.9 acres across two lots at 3986 Gerry Levant Road in Ellicott, NY. Parking is provided by a carport, driveway, and garage, with a concrete drive also noted. The land carries an agriculture-use designation and has an irregular configuration. Both residential spaces are expected to be vacant at closing.
The offering includes 1.9 acres across two lots at 3986 Gerry Levant Road in Ellicott, NY. Parking is provided by a carport, driveway, and garage, with a concrete drive also noted. The land carries an agriculture-use designation and has an irregular configuration. Both residential spaces are expected to be vacant at closing.
Key Highlights
- Two residential units: a 3‑bedroom, 2‑bath home and a 2‑bedroom, 1‑bath apartment
- Heated barn/garage with apartment above
- 1.9 acres across two lots
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$16,681
Cap Rate
7.62%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$333,620
$333.6K
Cap Rate 7%
$238,300
$238.3K
Cap Rate 9%
$185,344
$185.3K
Market Conditions
NOI Build-Up for 2,016 SF
Gross rent
$27.2K $13.50/SF
− Vacancy
−$3.4K −$1.68/SF
EGI
$23.8K $11.82/SF
− OpEx
−$7.1K −$3.55/SF
NOI
$16.7K $8.27/SF
Area
Chautauqua County, NY
Vacancy
12.44%
Lease Rate
$13.50 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$333,620
Cap Rate 7%
$238,300
Cap Rate 9%
$185,344
Alternative Uses
Best Use
Multifamily LT 5
$238.3K
$208.5K – $278.0K
NOI $16,681 @ 7.0% cap · market cap 7.62%
Second Best
Apartment 5plus
$218.0K
$190.8K – $254.4K
NOI $15,263 @ 7.0% cap · market cap 6.97%
Theoretical Best
Office A
$603.4K
$528.0K – $704.0K
NOI $42,239 @ 7.0% cap · market cap 19.29%
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
Location Intelligence
Trade Area within ½ mile
4
Businesses Nearby
Explore this area
Business Placement
Demographics for 14733, NY
3,663
Population
1,626
Households
2.3
Avg Household Size
43
Median Age
16%
College-Educated
93%
High-School Grad
26.7 sq mi
ZIP Area
137
Density / Sq Mi
$56,157
Median Household Income
$34,215
Median Earnings
$675
Median Rent
$102,000
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 living spaces include an updated main residence and a heated apartment above a barn and garage.
Where is this duplex located?
The property is located at 3986 Gerry Levant Rd Falconer, 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 residential units: a 3‑bedroom, 2‑bath home and a 2‑bedroom, 1‑bath apartment; Heated barn/garage with apartment above; 1.9 acres across two lots
