Two-House Multifamily
For Sale
$224,900
Pending
80-82 CENTER ST, Fredonia, NY 14063
Two residences share one parcel, with updated exterior components and a remodeled kitchen.
Property Size2,396 SF
Days on Market229
Property Features for 80-82 CENTER ST
General Information
Standard status
Pending
Size
2,396 SF
Property subtype
Multi-Family
Additional Details
Multifamily Units
2
Taxes and HOA fees
Annual Taxes
$5,404
Amenities
Gas
Full
3
Laminate
Vinyl
Irregular
86X123
City Road, Irregular.
Building Details
Year Built
1900
Buildings
2
Listing Agency:
Midtown Realty
(716) 672-2323
Listed By:
Louis Dispenza
(716) 680-2865
Source:
Xome
Added: Jan 19
Changed: Sep 2
Last Checked: Sep 5 at 5:27AM
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 Midtown Realty
Investment Insights
Based on property information with market context.
This multifamily property includes two houses on a single parcel with a combined property size of 2,396 square feet. Both homes feature newer windows, roofing, vinyl siding, and furnaces. The kitchen at 82 Center has been remodeled, and that house includes two full baths.
The property is located at 80-82 Center Street in Pomfret, New York. The parcel measures 86X123 and has an irregular configuration along a city road. Originally built in 1900, the property offers a two-house layout within one multifamily asset.
The property is located at 80-82 Center Street in Pomfret, New York. The parcel measures 86X123 and has an irregular configuration along a city road. Originally built in 1900, the property offers a two-house layout within one multifamily asset.
Key Highlights
- Two houses situated on one parcel
- 2,396‑square‑foot property size
- Newer windows, roof, vinyl siding, and furnace in each house
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
$18,139
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
8.07%
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%
$362,780
$362.8K
Cap Rate 7%
$259,129
$259.1K
Cap Rate 9%
$201,544
$201.5K
Market Conditions
NOI Build-Up for 2,396 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
$38.0K $15.84/SF
− Vacancy
−$5.0K −$2.08/SF
EGI
$33.0K $13.76/SF
− OpEx
−$14.8K −$6.19/SF
NOI
$18.1K $7.57/SF
Area
Chautauqua County, NY
Vacancy
13.10%
Lease Rate
$15.84 /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%
$362,780
Cap Rate 7%
$259,129
Cap Rate 9%
$201,544
Alternative Uses
Best Use
Apartment 5plus
$259.1K
$226.7K – $302.3K
NOI $18,139 @ 7.0% cap · market cap 8.07%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$717.2K
$627.5K – $836.7K
NOI $50,201 @ 7.0% cap · market cap 22.32%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
578
Businesses Nearby
Explore this area
Business Placement
Demographics for 14063, NY
13,028
Population
5,861
Households
2.2
Avg Household Size
34
Median Age
40%
College-Educated
95%
High-School Grad
50.9 sq mi
ZIP Area
256
Density / Sq Mi
$55,629
Median Household Income
$27,358
Median Earnings
$852
Median Rent
$178,500
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?
Multifamily property - Two residences share one parcel, with updated exterior components and a remodeled kitchen.
Where is this multifamily property located?
The property is located at 80-82 CENTER ST Fredonia, NY.
What is the asking price?
The asking price for this property is $224,900.
What are key features of this property?
This property features: Two houses situated on one parcel; 2,396‑square‑foot property size; Newer windows, roof, vinyl siding, and furnace in each house
