Lakefront Multi-Unit Residential
For Sale
$490,000
6040 & 6044 Mill Road, Mayville, NY 14757
MULTI_FAMILY - Other - Mayville, NY
Property Size3,176 SF
Lot Size0.43 Acres
Price / SF$154.28
Days on Market257
Property Features for 6040 & 6044 Mill Road
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Zoning description
Residential Multi Use
Bedrooms
7
Bathrooms
3
Full bathrooms
3
Rooms
Bedroom 3, Bathroom 2, Bedroom 6, Bedroom 7, Bedroom 4, Bedroom 1, Bathroom 3, Bathroom 1, Bedroom 5, Bedroom 2
Parking features
Garage, Open
Patio and Porch features
Deck, Patio
Interior features
CeilingFans
Exterior features
Balcony, Deck, Dock, Fence, Patio
Fencing
Fenced
Fireplace
1
Accessibility
Accessible Approach with Ramp
Appliances
GasWaterHeater
Lot features
Irregular Lot, Residential Lot
Elementary school district
Chautauqua Lake
Middle school district
Chautauqua Lake
High school district
Chautauqua Lake
Directions
Rte 430 to Hartfield Area, Turn onto Mill, Property on your left.
Subdivision
Chautauqua-062889
Standard status
Active
APN
062889-246-013-0003-049-000
Size
3,176 SF
Lot size
0.43 Acres
Taxes and HOA fees
Tax Annual Amount
4640
Utilities
Heating system
Zoned, Forced Air, Electric (Heating), Hot Water(Heating), Baseboard, Natural Gas
Cooling system
Zoned, Wall Unit(s), Central Air
Water source
Public
Water front features
Beach Access, Canal Access
Water front
1
Building Details
Year built
1980
Floors in Building
2
Number of units
3
Flooring type
Carpet, Vinyl, Varies, Tile
Building materials
AtticCrawlHatchwaysInsulated, VinylSiding, WoodSiding
Roof type
Shingle
Architectural style
Other
Listing Agency:
Howard Hanna Holt - Mayville
(716) 753-7880
Listed By:
Nicholas Holt · License #10401209202
(716) 581-1347
Added: Nov 28, 2025
Changed: Aug 4
Last Checked: Aug 12 at 8:06AM
MLS# R1652548
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 property offers a 3-bedroom, 1-bath ranch home plus a duplex with two separate 2-bedroom, 1-bath units. The canal-front ranch provides single-level living with central A/C and an enclosed back porch, along with a fenced yard featuring a patio, fire pit, and gazebo. A detached garage is also included, described as at least two cars deep with three separate rooms for storage or workshop use.
The ranch includes 105 feet of canal frontage, with 85 feet including a dock. The duplex units have separate meters and in-unit laundry. The lower unit is noted for stairless entry and accessibility-friendly features. The upper unit includes open living space, two bedrooms, its own laundry, and a balcony.
With separate utility metering and in-unit laundry throughout, the overall configuration supports owner-occupancy or investment use for the combination of the ranch and duplex within a single waterfront property.
The ranch includes 105 feet of canal frontage, with 85 feet including a dock. The duplex units have separate meters and in-unit laundry. The lower unit is noted for stairless entry and accessibility-friendly features. The upper unit includes open living space, two bedrooms, its own laundry, and a balcony.
With separate utility metering and in-unit laundry throughout, the overall configuration supports owner-occupancy or investment use for the combination of the ranch and duplex within a single waterfront property.
Key Highlights
- Waterfront with 105 ft of canal frontage and 85 ft with dock, plus canal and beach access
- 1980‑built property includes a 3BR/1BA ranch plus a duplex with two 2BR/1BA units
- Separate meters and in‑unit laundry for all units—set up for owner‑occupants or investors
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
$26,280
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
5.36%
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%
$525,600
$525.6K
Cap Rate 7%
$375,429
$375.4K
Cap Rate 9%
$292,000
$292.0K
Market Conditions
NOI Build-Up for 3,176 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
$42.9K $13.50/SF
− Vacancy
−$5.3K −$1.68/SF
EGI
$37.5K $11.82/SF
− OpEx
−$11.3K −$3.55/SF
NOI
$26.3K $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 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%
$525,600
Cap Rate 7%
$375,429
Cap Rate 9%
$292,000
Alternative Uses
Best Use
Multifamily LT 5
$375.4K
$328.5K – $438.0K
NOI $26,280 @ 7.0% cap · market cap 5.36%
Second Best
Apartment 5plus
$343.5K
$300.6K – $400.8K
NOI $24,045 @ 7.0% cap · market cap 4.91%
Theoretical Best
Office A
$950.6K
$831.8K – $1.11M
NOI $66,544 @ 7.0% cap · market cap 13.58%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
5
Residential units
Yes
Fenced yard
Location Intelligence
Trade Area within ½ mile
29
Businesses Nearby
Explore this area
Business Placement
Demographics for 14757, NY
3,072
Population
2,181
Households
1.4
Avg Household Size
47
Median Age
37%
College-Educated
93%
High-School Grad
43.7 sq mi
ZIP Area
70
Density / Sq Mi
$63,542
Median Household Income
$40,042
Median Earnings
$677
Median Rent
$179,400
Median Home Value
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 - Ranch plus duplex on canal frontage with separate meters and in-unit laundry, offering two-bedroom units and waterfront access.
Where is this duplex located?
The property is located at 6040 & 6044 Mill Road Mayville, NY.
What is the asking price?
The asking price for this property is $490,000.
What are key features of this property?
This property features: Waterfront with 105 ft of canal frontage and 85 ft with dock, plus canal and beach access; 1980‑built property includes a 3BR/1BA ranch plus a duplex with two 2BR/1BA units; Separate meters and in‑unit laundry for all units—set up for owner‑occupants or investors
