Updated Duplex with Two Full
For Sale
$239,900
Pending
501 Mason St, Newark, NY 14513
Recently updated property offers flexible residential use and fiber internet availability.
Property Size2,392 SF
Days on Market53
Property Features for 501 Mason St
General Information
Standard status
Pending
Size
2,392 SF
Property subtype
Multi Family
Taxes and HOA fees
Annual Taxes
$3,991
Building Details
Building Size
2,392 SF
Year Built
1890
Stories
2
Units
2
Listed By:
Jesse Christopher Bacon
(585) 310-4397
Source:
Elliman
Added: Aug 26
Changed: Oct 12
Last Checked: Oct 16 at 10:42AM
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 Jesse Christopher Bacon
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Investment Insights
Based on property information with market context.
This duplex includes two residential sides, each presented as having the feel and functionality of a complete home. Recent updates and attentive maintenance support a refreshed residential setting, while fiber internet availability provides a modern connectivity option. The property was built in 1890 and can accommodate several stated approaches, including use as a primary residence, an in-law suite, or a rental property.
Located at 501 Mason St in Arcadia, the property is within walking distance of downtown Newark, with shops, restaurants, and everyday conveniences identified nearby. Walk Score is 62 and Bike Score is 48. The property is also described as being close to the Finger Lakes and Rochester.
Located at 501 Mason St in Arcadia, the property is within walking distance of downtown Newark, with shops, restaurants, and everyday conveniences identified nearby. Walk Score is 62 and Bike Score is 48. The property is also described as being close to the Finger Lakes and Rochester.
Key Highlights
- Two duplex sides, each with the feel of a complete home
- Recently updated and carefully maintained
- Fiber internet availability
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$20,401
Cap Rate
8.50%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$408,020
$408.0K
Cap Rate 7%
$291,443
$291.4K
Cap Rate 9%
$226,678
$226.7K
Market Conditions
NOI Build-Up for 2,392 SF
Gross rent
$33.0K $13.80/SF
− Vacancy
−$3.9K −$1.62/SF
EGI
$29.1K $12.18/SF
− OpEx
−$8.7K −$3.66/SF
NOI
$20.4K $8.53/SF
Area
Wayne County, NY
Vacancy
11.71%
Lease Rate
$13.80 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$408,020
Cap Rate 7%
$291,443
Cap Rate 9%
$226,678
Alternative Uses
Best Use
Multifamily LT 5
$291.4K
$255.0K – $340.0K
NOI $20,401 @ 7.0% cap · market cap 8.50%
Second Best
Apartment 5plus
$257.0K
$224.9K – $299.9K
NOI $17,993 @ 7.0% cap · market cap 7.50%
Theoretical Best
Office A
$644.4K
$563.8K – $751.8K
NOI $45,105 @ 7.0% cap · market cap 18.80%
Zoning and permitted uses should be independently verified with authorities.
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Current Use
Location Intelligence
Trade Area within ½ mile
451
Businesses Nearby
Explore this area
Business Placement
Demographics for 14513, NY
13,459
Population
6,202
Households
2.2
Avg Household Size
44
Median Age
19%
College-Educated
89%
High-School Grad
45.2 sq mi
ZIP Area
298
Density / Sq Mi
$61,117
Median Household Income
$37,790
Median Earnings
$1,027
Median Rent
$133,500
Median Home Value
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Market
Vacancy Rate% for Multifamily in Northeast region
Frequently Asked Questions
What type of property is this?
Duplex - Recently updated property offers flexible residential use and fiber internet availability.
Where is this duplex located?
The property is located at 501 Mason St Newark, NY.
What is the asking price?
The asking price for this property is $239,900.
What are key features of this property?
This property features: Two duplex sides, each with the feel of a complete home; Recently updated and carefully maintained; Fiber internet availability
