Renovated Duplex with Two
For Sale
$139,000
8 Colwell Street, Portville, NY 14770
A fully renovated duplex with two identical 3-bedroom units and separate utility responsibility.
Property Size1,248 SF
Days on Market82
Property Features for 8 Colwell Street
General Information
Standard status
Active
Size
1,248 SF
Property subtype
Multi Family Home
Occupancy
100%
Additional Details
Business Included
Yes
Multifamily Units
2
Taxes and HOA fees
Annual Taxes
$1,091
Building Details
Building Size
1,248 SF
Year Built
1900
Stories
2
Units
2
Tenancy
Multi
Listing Agency:
EXP-Premier Listings Team
(716) 307-8894
Listed By:
Claudia Attard-Keary
(716) 307-8894
Source:
Northstarwny
Added: Jun 4
Changed: Aug 23
Last Checked: Aug 23 at 9:02AM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of EXP-Premier Listings Team
Investment Insights
Based on property information with market context.
This fully renovated duplex offers two spacious units laid out identically, each providing 3 bedrooms. The property is described as well maintained and has undergone extensive updates, including flooring, walls, windows, siding, plumbing, electrical systems, furnaces, and hot water tanks, among other improvements. Each unit is currently rented, supporting an income-focused profile for an owner-operator or investor.
The asset is located at 8 Colwell St in Portville, New York. The public remarks indicate tenants pay their own separate utilities, which can help reduce landlord utility management needs. The duplex configuration and separate utility setup are key operational considerations for buyers evaluating rental property cash-flow structure.
For investors seeking a turn-key residential income property, this duplex is positioned around two already-rented units with comparable layouts. The major capital items named in the remarks have been addressed through renovations, and the ownership opportunity is framed as ready to generate income from day one. This property may be well suited for a buyer looking for a straightforward two-unit structure with separate utility responsibility in place.
The asset is located at 8 Colwell St in Portville, New York. The public remarks indicate tenants pay their own separate utilities, which can help reduce landlord utility management needs. The duplex configuration and separate utility setup are key operational considerations for buyers evaluating rental property cash-flow structure.
For investors seeking a turn-key residential income property, this duplex is positioned around two already-rented units with comparable layouts. The major capital items named in the remarks have been addressed through renovations, and the ownership opportunity is framed as ready to generate income from day one. This property may be well suited for a buyer looking for a straightforward two-unit structure with separate utility responsibility in place.
Key Highlights
- Fully renovated duplex built in 1900 with two identical 3‑bedroom units
- Currently rented for $900 per month (per unit), generating income immediately
- Units are laid out identically and both have 3 bedrooms
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
$8,020
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
5.77%
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%
$160,400
$160.4K
Cap Rate 7%
$114,571
$114.6K
Cap Rate 9%
$89,111
$89.1K
Market Conditions
NOI Build-Up for 1,248 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
$12.7K $10.20/SF
− Vacancy
−$1.3K −$1.02/SF
EGI
$11.5K $9.18/SF
− OpEx
−$3.4K −$2.75/SF
NOI
$8.0K $6.43/SF
Area
Cattaraugus County, NY
Vacancy
10.00%
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%
$160,400
Cap Rate 7%
$114,571
Cap Rate 9%
$89,111
Alternative Uses
Best Use
Multifamily LT 5
$114.6K
$100.3K – $133.7K
NOI $8,020 @ 7.0% cap · market cap 5.77%
Second Best
Apartment 5plus
$107.7K
$94.2K – $125.6K
NOI $7,537 @ 7.0% cap · market cap 5.42%
Theoretical Best
Healthcare Medical
$246.7K
$215.8K – $287.8K
NOI $17,266 @ 7.0% cap · market cap 12.42%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
100%
Occupancy
Multi-tenant
Tenancy
Turnkey business
Opportunity
Location Intelligence
Trade Area within ½ mile
110
Businesses Nearby
Explore this area
Business Placement
Demographics for 14770, NY
2,747
Population
1,299
Households
2.1
Avg Household Size
44
Median Age
24%
College-Educated
90%
High-School Grad
29.2 sq mi
ZIP Area
94
Density / Sq Mi
$52,683
Median Household Income
$36,307
Median Earnings
$706
Median Rent
$103,100
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?
Duplex - A fully renovated duplex with two identical 3-bedroom units and separate utility responsibility.
Where is this duplex located?
The property is located at 8 Colwell Street Portville, NY.
What is the asking price?
The asking price for this property is $139,000.
What are key features of this property?
This property features: Fully renovated duplex built in 1900 with two identical 3‑bedroom units; Currently rented for $900 per month (per unit), generating income immediately; Units are laid out identically and both have 3 bedrooms
