Duplex Requiring
New
For Sale
Contact for pricing
Pending
550 Spaulding St, Elmira, NY 14904
Two-family configuration offers separate residential units for renovation or future occupancy.
Property Size807 SF
Days on Market7
Property Features for 550 Spaulding St
General Information
Standard status
Pending
Size
807 SF
Property subtype
Multi Family
Property Condition
Severity
Repairs Needed
Evidence
requires work
Additional Details
Multifamily Units
2
Taxes and HOA fees
Annual Taxes
$4,541
Building Details
Building Size
807 SF
Year Built
1900
Stories
2
Units
2
Listing Agency:
Keller Williams Realty Southern Tier & Finger Lakes
Listed By:
Andrew Mitchell · License #10401383540
(607) 481-0780
Source:
Elliman
Added: Oct 30
Last Checked: Nov 4 at 2:09PM
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 Southern Tier & Finger Lakes
Ask AI about this property
Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
This two-family property, built in 1900, requires renovation and is being sold as-is. Its duplex configuration provides two residential units for a buyer to assess and improve.
The property is near local amenities, shopping, and transportation in Elmira. Walk Score is 80 and Bike Score is 81.
The property is near local amenities, shopping, and transportation in Elmira. Walk Score is 80 and Bike Score is 81.
Key Highlights
- Two‑family duplex built in 1900
- Property requires work and is sold as‑is
- Walk Score: 80; Bike Score: 81
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$506,288
Suggested Prices Based on Cap Rates
Cap Rate 5%
$10,125,760
$10.1M
Cap Rate 7%
$7,232,686
$7.2M
Cap Rate 9%
$5,625,422
$5.6M
Market Conditions
NOI Build-Up for 807 SF
Gross rent
$936.4K $1,160.40/SF
− Vacancy
−$15.9K −$19.73/SF
EGI
$920.5K $1,140.67/SF
− OpEx
−$414.2K −$513.30/SF
NOI
$506.3K $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%
$10,125,760
Cap Rate 7%
$7,232,686
Cap Rate 9%
$5,625,422
Alternative Uses
Best Use
Multifamily LT 5
$7.35M
$6.43M – $8.57M
NOI $514,231 @ 7.0% cap · market cap 2,584.08%
Second Best
Apartment 5plus
$7.23M
$6.33M – $8.44M
NOI $506,288 @ 7.0% cap · market cap 2,544.16%
Theoretical Best
—
—
same as Best Use
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Who owns this building?
See the owner, sales and loan history
Open Analytics
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
599
Businesses Nearby
Explore this area
Business Placement
Demographics for 14904, NY
15,102
Population
7,629
Households
2
Avg Household Size
39
Median Age
17%
College-Educated
88%
High-School Grad
6.4 sq mi
ZIP Area
2,360
Density / Sq Mi
$54,563
Median Household Income
$35,128
Median Earnings
$1,005
Median Rent
$87,200
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
Frequently Asked Questions
What type of property is this?
Duplex - Two-family configuration offers separate residential units for renovation or future occupancy.
Where is this duplex located?
The property is located at 550 Spaulding St Elmira, NY.
What are key features of this property?
This property features: Two‑family duplex built in 1900; Property requires work and is sold as‑is; Walk Score: 80; Bike Score: 81
