Updated Two-Unit
New
For Sale
$139,900
4906 Meads Creek Road, Painted Post, NY 14870
Residential, Painted Post, NY
Property Size1,947 SF
Lot Size0.36 Acres
Price / SF$71.85
Days on Market2
Property Features for 4906 Meads Creek Road
General Information
Property type
Residential Multi Family
Property subtype
Other
Bedrooms
6
Bathrooms
2
Full bathrooms
2
Rooms
Bedroom 4, Bedroom 2, Bedroom 3, Bathroom 1, Bedroom 1, Bathroom 2, Bedroom 6, Bedroom 5
Patio and Porch features
Patio, Porch
Exterior features
Patio
Appliances
ElectricWaterHeater
Lot features
Flood Zone, Rectangular, Rectangular Lot
Elementary school district
Corning-Painted Post
Middle school district
Corning-Painted Post
High school district
Corning-Painted Post
Directions
from route 86 take meads creek rd north, house on right look for sign
Subdivision
Campbell-463000
Standard status
Active
APN
463000-226-000-0001-019-100
Size
1,947 SF
Lot size
0.36 Acres
Taxes and HOA fees
Tax Annual Amount
5366
Utilities
Sewer type
Septic Tank
Heating system
Baseboard, Electric (Heating)
Water source
Well
Amenities
washer dryer hookups
Building Details
Year built
1960
Floors in Building
2
Number of units
2
Flooring type
Carpet, Vinyl, Varies
Building materials
Block, Concrete
Listing Agency:
Signature Properties
(607) 796-9817
Listed By:
Mark A. Costanza · License #30CO0988217
(607) 738-9911
Added: Sep 21
Last Checked: Sep 22 at 12:06PM
MLS# R1716374
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 duplex contains 1,947 square feet across two separate residences, with each unit configured as a three-bedroom layout. Independent utilities support both units, which are all-electric and include washer and dryer hookups. Interior finishes include carpet and vinyl flooring, while the property also provides a patio and porch.
Recent work completed within the last three years includes electrical system updates, replacement hot-water tanks, a newer roof, and appliance improvements. The building was constructed in 1960 with block and concrete materials and is served by a well and septic tank. Located in Painted Post, NY, the property occupies 0.36 acres.
Recent work completed within the last three years includes electrical system updates, replacement hot-water tanks, a newer roof, and appliance improvements. The building was constructed in 1960 with block and concrete materials and is served by a well and septic tank. Located in Painted Post, NY, the property occupies 0.36 acres.
Key Highlights
- Two‑unit duplex with 1,947 square feet
- Each unit has 3 bedrooms and separate utilities
- All‑electric units with washer and dryer hookups
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
$12,143
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
8.68%
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%
$242,860
$242.9K
Cap Rate 7%
$173,471
$173.5K
Cap Rate 9%
$134,922
$134.9K
Market Conditions
NOI Build-Up for 1,947 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
$23.4K $12.00/SF
− Vacancy
−$1.3K −$0.66/SF
EGI
$22.1K $11.34/SF
− OpEx
−$9.9K −$5.10/SF
NOI
$12.1K $6.24/SF
Area
Steuben County, NY
Vacancy
5.50%
Lease Rate
$12.00 /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%
$242,860
Cap Rate 7%
$173,471
Cap Rate 9%
$134,922
Alternative Uses
Best Use
Multifamily LT 5
$188.2K
$164.7K – $219.6K
NOI $13,176 @ 7.0% cap · market cap 9.42%
Second Best
Apartment 5plus
$173.5K
$151.8K – $202.4K
NOI $12,143 @ 7.0% cap · market cap 8.68%
Theoretical Best
Office A
$474.6K
$415.3K – $553.8K
NOI $33,225 @ 7.0% cap · market cap 23.75%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Unlock full access to Insights
Subscribe to Realmo Intelligence
Open Analytics
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
1
Businesses Nearby
Explore this area
Business Placement
Demographics for 14870, NY
9,648
Population
4,691
Households
2.1
Avg Household Size
44
Median Age
41%
College-Educated
93%
High-School Grad
64.5 sq mi
ZIP Area
150
Density / Sq Mi
$88,514
Median Household Income
$58,864
Median Earnings
$1,128
Median Rent
$164,000
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
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Duplex - Two separate all-electric residences with three bedrooms, laundry hookups, and utility systems serving each unit independently.
Where is this duplex located?
The property is located at 4906 Meads Creek Road Painted Post, NY.
What is the asking price?
The asking price for this property is $139,900.
What are key features of this property?
This property features: Two‑unit duplex with 1,947 square feet; Each unit has 3 bedrooms and separate utilities; All‑electric units with washer and dryer hookups
