Waterfront Land with
For Sale
$189,900
Pending
7483 Monk Hill Road, East Otto, NY 14729
LAND - Ranch - East Otto, NY
Property Size1,040 SF
Lot Size4.80 Acres
Days on Market53
Property Features for 7483 Monk Hill Road
General Information
Property type
Land
Property subtype
Single Family Residence
Parking features
Driveway, Garage
Patio and Porch features
Porch
Interior features
CeilingFans, Furnished, KitchenFamilyRoomCombo, LivingDiningRoom, BedroomOnMainLevel
Exterior features
GravelDriveway, PropaneTankOwned
Fireplace
1
Appliances
ElectricOven, ElectricRange, ElectricWaterHeater
Lot features
Irregular Lot, Secluded, Gentle Sloping, Pond On Lot
Elementary school district
Cattaraugus-Little Valley
Middle school district
Cattaraugus-Little Valley
High school district
Cattaraugus-Little Valley
Directions
Buf/points north- Connoisarauley Rd becomes Bowen Rd. Left onto Monk Hill Rd. 1st driveway on the left off shared drive. EVL/points south- Rte 219 left onto Snake Run Rd. Right on Monk Hill Rd. Use 9483 Monk Hill Rd as address for nav
Subdivision
East Otto-043200
Standard status
Pending
APN
043200-019-003-0001-039-000-0000
Size
1,040 SF
Lot size
4.80 Acres
Taxes and HOA fees
Tax Annual Amount
2338
Utilities
Sewer type
Septic Tank
Heating system
Zoned, Baseboard, Propane (Heating), Other (Heating), Electric (Heating)
Cooling system
Zoned
Water source
Well
Water front features
Pond
Building Details
Year built
1973
Floors in Building
1
Flooring type
Varies, Laminate, Carpet
Building materials
WoodSiding
Roof type
Metal, Asphalt
Architectural style
Ranch
Additional Structures
Garage(s)
Listing Agency:
Keller Williams Realty WNY
(716) 832-3300
Listed By:
Joshua Assad · License #10301209770
(716) 570-5401
Added: Jun 15
Changed: Aug 5
Last Checked: Aug 6 at 9:06PM
MLS# B1690851
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.
Set on a knoll overlooking a large, stocked pond, this approximately 4.8-acre property includes a cabin with vaulted ceilings and an open main living space. The interior features a spacious kitchen, wood-burning stove, dining area, and living room, along with two sliding glass doors that open to an expansive front deck. The home also offers three bedrooms and a full bath. Outside, enjoy a grilling area and fire pit amid mature trees, plus a detached garage. The property is offered turn-key furnished, with personal property and furnishings included.
Located in East Otto, New York (Cattaraugus County), the cabin sits set back from a quiet country road, accessed via a winding drive for added privacy.
The cabin is approximately 1,040 square feet and provides a straightforward indoor/outdoor setup centered on the front deck and pond views.
Located in East Otto, New York (Cattaraugus County), the cabin sits set back from a quiet country road, accessed via a winding drive for added privacy.
The cabin is approximately 1,040 square feet and provides a straightforward indoor/outdoor setup centered on the front deck and pond views.
Key Highlights
- Nearly 5 acres set back on a quiet country road with a stocked pond overlooking the property
- 1973 ranch cabin with vaulted ceilings and a main living space featuring a spacious kitchen and dining/living area combo
- Wood‑burning stove (fireplace on‑site) plus zoned electric/propane heating and zoned cooling
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
$6,281
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
3.31%
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%
$125,620
$125.6K
Cap Rate 7%
$89,729
$89.7K
Cap Rate 9%
$69,789
$69.8K
Market Conditions
NOI Build-Up for 1,040 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
$12.5K $12.00/SF
− Vacancy
−$1.1K −$1.02/SF
EGI
$11.4K $10.98/SF
− OpEx
−$5.1K −$4.94/SF
NOI
$6.3K $6.04/SF
Area
Cattaraugus County, NY
Vacancy
8.50%
Lease Rate
$12.00 /SF/Yr
Expense Ratio
45.00%
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%
$125,620
Cap Rate 7%
$89,729
Cap Rate 9%
$69,789
Alternative Uses
Best Use
Apartment 5plus
$89.7K
$78.5K – $104.7K
NOI $6,281 @ 7.0% cap · market cap 3.31%
Second Best
—
—
no second resolved use
Theoretical Best
Healthcare Medical
$205.5K
$179.9K – $239.8K
NOI $14,388 @ 7.0% cap · market cap 7.58%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
2
Businesses Nearby
Explore this area
Business Placement
Demographics for 14729, NY
763
Population
535
Households
1.4
Avg Household Size
46
Median Age
18%
College-Educated
95%
High-School Grad
29.7 sq mi
ZIP Area
26
Density / Sq Mi
$70,000
Median Household Income
$45,909
Median Earnings
$879
Median Rent
$177,700
Median Home Value
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Single family property - Approximately 4.8-acre parcel with a cabin, deck, and stocked pond on a knoll.
Where is this single family property located?
The property is located at 7483 Monk Hill Road East Otto, NY.
What is the asking price?
The asking price for this property is $189,900.
What are key features of this property?
This property features: Nearly 5 acres set back on a quiet country road with a stocked pond overlooking the property; 1973 ranch cabin with vaulted ceilings and a main living space featuring a spacious kitchen and dining/living area combo; Wood‑burning stove (fireplace on‑site) plus zoned electric/propane heating and zoned cooling
