Two-Unit Duplex with Renovation
For Sale
Contact for pricing
Pending
550 Spaulding Street, Elmira, NY 14904
Residential, Elmira, NY
Property Size807 SF
Lot Size0.07 Acres
Days on Market17
Property Features for 550 Spaulding Street
General Information
Property type
Residential Multi Family
Property subtype
Other
Bedrooms
4
Bathrooms
2
Full bathrooms
2
Rooms
Bedroom 4, Bedroom 2, Bedroom 1, Bedroom 3, Bathroom 2, Bathroom 1
Appliances
WaterHeater
Lot features
Rectangular, Rectangular Lot
Elementary school district
Elmira
Middle school district
Elmira
High school district
Elmira
Subdivision
Elmira-City-070400
Standard status
Pending
APN
070400-099-008-0007-007-000-0000
Size
807 SF
Lot size
0.07 Acres
Taxes and HOA fees
Tax Annual Amount
4541
Building Details
Year built
1900
Floors in Building
2
Number of units
2
Listing Agency:
Keller Williams Realty Southern Tier & Finger Lakes
(607) 795-2900
Listed By:
Andrew Mitchell · License #10401383540
(607) 481-0780
Added: Oct 20
Changed: Oct 30
Last Checked: Nov 5 at 3:06AM
MLS# R1720540
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.
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Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
This two-unit residential property in Elmira contains 807 square feet, with four bedrooms and two bathrooms. Built in 1900, the building requires work and is being sold in as-is condition. A water heater is included among the listed appliances.
The property occupies a 0.0661-acre lot at 550 Spaulding Street in Elmira, New York.
The property occupies a 0.0661-acre lot at 550 Spaulding Street in Elmira, New York.
Key Highlights
- Two‑family property with four bedrooms and two bathrooms
- 807 square feet of property size
- 0.0661‑acre lot
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?
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Open Analytics
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
599
Businesses Nearby
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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
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Market
Vacancy Rate% for Multifamily in Northeast region
Frequently Asked Questions
What type of property is this?
Duplex - The two-family layout includes four bedrooms and requires renovation work.
Where is this duplex located?
The property is located at 550 Spaulding Street Elmira, NY.
What are key features of this property?
This property features: Two‑family property with four bedrooms and two bathrooms; 807 square feet of property size; 0.0661‑acre lot
