Triplex with Separate Septic
For Sale
$185,000
6610 State Route 415, Bath, NY 14810
Residential, Bath, NY
Property Size1,282 SF
Lot Size1.00 Acre
Price / SF$144.31
Days on Market94
Property Features for 6610 State Route 415
General Information
Property type
Residential Multi Family
Property subtype
Other
Bedrooms
7
Bathrooms
3
Full bathrooms
3
Rooms
Bedroom 1, Bathroom 2, Basement, Bathroom 1, Bedroom 2, Bedroom 6, Bedroom 7, Bedroom 3, Bedroom 4, Bathroom 3, Bedroom 5
Parking features
Paved or Surfaced
Patio and Porch features
Deck
Exterior features
Deck
Appliances
OilWaterHeater
Lot features
Corner Lot, Rectangular, Rectangular Lot
Elementary school district
Bath
Middle school district
Bath
High school district
Bath
Directions
Take exit 39 off of I86 from Corning turn right head toward 415. Then turn right onto 415 until you see the Howard Hanna sign. Places will be on your left. The corner of 415 and Telegraph Road.
Subdivision
Bath-462489
Standard status
Active
APN
462489-160-000-0001-044-000
Size
1,282 SF
Lot size
1.00 Acre
Taxes and HOA fees
Tax Annual Amount
12797
Utilities
Sewer type
Septic Tank
Heating system
Electric (Heating), Oil
Cooling system
Wall Unit(s)
Water source
Well
Building Details
Year built
1888
Floors in Building
1
Number of units
3
Flooring type
Carpet, Laminate, Varies
Building materials
AluminumSiding
Listing Agency:
Howard Hanna Corning
(607) 936-4663
Listed By:
Peggy Sue Nankivell · License #10401374129
(607) 382-3466
Added: May 25
Changed: Aug 26
Last Checked: Aug 26 at 2:06PM
MLS# R1684490
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 triplex property includes two mobile homes and one Cape Cod-style residence arranged as three rental dwellings. The improvements contain 1,282 square feet on approximately 1 acre, with a deck, paved or surfaced parking, varied carpet and laminate flooring, electric and oil heating, and wall-unit cooling. The property was built in 1888 and is being sold as-is.
Each dwelling has its own septic system, while one 99-foot well supplies all three units. A new septic system for the Cape Cod home was installed in 2025 and brought up to code. Long-term tenants occupy the homes, and the landlord pays only the pump bill; residents currently handle lawn maintenance and snow removal.
Each dwelling has its own septic system, while one 99-foot well supplies all three units. A new septic system for the Cape Cod home was installed in 2025 and brought up to code. Long-term tenants occupy the homes, and the landlord pays only the pump bill; residents currently handle lawn maintenance and snow removal.
Key Highlights
- Three rental dwellings: two mobile homes and one Cape Cod‑style home
- 1,282 square feet on approximately 1 acre
- Each dwelling has its own septic system
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
$8,676
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
4.69%
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%
$173,520
$173.5K
Cap Rate 7%
$123,943
$123.9K
Cap Rate 9%
$96,400
$96.4K
Market Conditions
NOI Build-Up for 1,282 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
$13.1K $10.20/SF
− Vacancy
−$683 −$0.53/SF
EGI
$12.4K $9.67/SF
− OpEx
−$3.7K −$2.90/SF
NOI
$8.7K $6.77/SF
Area
Steuben County, NY
Vacancy
5.22%
Lease Rate
$10.20 /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%
$173,520
Cap Rate 7%
$123,943
Cap Rate 9%
$96,400
Alternative Uses
Best Use
Multifamily LT 5
$123.9K
$108.5K – $144.6K
NOI $8,676 @ 7.0% cap · market cap 4.69%
Second Best
Apartment 5plus
$114.2K
$100.0K – $133.3K
NOI $7,996 @ 7.0% cap · market cap 4.32%
Theoretical Best
Office A
$312.5K
$273.5K – $364.6K
NOI $21,877 @ 7.0% cap · market cap 11.83%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
3
Residential units
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
30
Businesses Nearby
Explore this area
Business Placement
Demographics for 14810, NY
11,620
Population
6,110
Households
1.9
Avg Household Size
47
Median Age
17%
College-Educated
88%
High-School Grad
120.6 sq mi
ZIP Area
96
Density / Sq Mi
$48,613
Median Household Income
$40,031
Median Earnings
$737
Median Rent
$113,300
Median Home Value
Market
Vacancy Rate% for Multifamily in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Triplex - Three dwellings have individual septic systems and share a private well.
Where is this triplex located?
The property is located at 6610 State Route 415 Bath, NY.
What is the asking price?
The asking price for this property is $185,000.
What are key features of this property?
This property features: Three rental dwellings: two mobile homes and one Cape Cod‑style home; 1,282 square feet on approximately 1 acre; Each dwelling has its own septic system
