Building Details

Year built 1900

Floors in Building 2

Flooring type Tile, Hardwood

Building materials Vinyl Siding

Roof type Asphalt

Listing Agency: LOMBARDO HOMES & ESTATES Show Phone

Listed By: Joseph Lombardo · License #10311204851 Show Phone

Added: Sep 26 Last Checked: Sep 27 at 12:06PM

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MLS# 12001566

Copyright © 2026 My State MLS. 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 vacant duplex has two three-bedroom, one-bathroom floors, totaling six bedrooms and two bathrooms across 2,110 square feet. A full basement provides storage and space for mechanicals, with additional attic area above. Interior finishes include hardwood and tile flooring, and the home has a deck and vinyl siding.

The property occupies approximately 0.09 acre, with a fenced backyard and off-street parking on a rebuilt private driveway. The roof is approximately four years old.

Key Highlights

• Two‑family layout with 3 bedrooms and 1 full bathroom on each floor
• 2,110 square feet with 6 bedrooms and 2 bathrooms
• Full basement and attic space

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

$17,459

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

8.73%

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%

$349,180 $349.2K

Cap Rate 7%

$249,414 $249.4K

Cap Rate 9%

$193,989 $194.0K

Market Conditions

NOI Build-Up for 2,110 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

$28.5K $13.50/SF

− Vacancy

−$3.5K −$1.68/SF

EGI

$24.9K $11.82/SF

− OpEx

−$7.5K −$3.55/SF

NOI

$17.5K $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%

$349,180

Cap Rate 7%

$249,414

Cap Rate 9%

$193,989

Alternative Uses

Best Use

Multifamily LT 5

$249.4K

$218.2K – $291.0K (±1% cap)

NOI $17,459 @ 7.0% cap · market cap 8.73%

Second Best

Apartment 5plus

$228.2K

$199.7K – $266.2K (±1% cap)

NOI $15,974 @ 7.0% cap · market cap 7.99%

Theoretical Best

Office A

$631.6K

$552.6K – $736.8K (±1% cap)

NOI $44,209 @ 7.0% cap · market cap 22.12%

Zoning and permitted uses should be independently verified with authorities.

Property Analytics

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Current Use

Duplexes

Lease Details

2

Residential units

Yes

Utilities to site

Location Intelligence

Trade Area within ½ mile

118

Businesses Nearby

Explore this area Business Placement

Demographics for 14781, NY

2,114

Population

900

Households

2.3

Avg Household Size

39

Median Age

17%

College-Educated

88%

High-School Grad

72.5 sq mi

ZIP Area

29

Density / Sq Mi

$65,134

Median Household Income

$39,211

Median Earnings

$810

Median Rent

$126,700

Median Home Value

Market

Vacancy Rate% for Multifamily in Northeast region

4% 2022

4.6% 2023

5.3% 2024

5.6% 2025

Questions? Ask Rey

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What type of property is this? Where is this duplexes located? What is the asking price? Find similar properties What are key features of this property?

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Frequently Asked Questions

What type of property is this?

Duplex - Separate three-bedroom floors are paired with a full basement, attic storage, and a fenced backyard.

Where is this duplex located?

The property is located at 75 Progressive Avenue Sherman, NY.

What is the asking price?

The asking price for this property is $199,900.

What are key features of this property?

This property features: Two‑family layout with 3 bedrooms and 1 full bathroom on each floor; 2,110 square feet with 6 bedrooms and 2 bathrooms; Full basement and attic space