Two-Unit Home with Four-Car
New
For Sale
$325,000
823 Main Road, Corfu, NY 14036
Residential, Corfu, NY
Property Size2,644 SF
Lot Size1.50 Acres
Price / SF$122.92
Days on Market6
Property Features for 823 Main Road
General Information
Property type
Residential Multi Family
Property subtype
Other
Bedrooms
4
Bathrooms
3
Full bathrooms
3
Rooms
Bedroom 1, Bathroom 3, Bedroom 2, Basement, Bathroom 1, Bedroom 4, Bathroom 2, Bedroom 3
Parking features
Open, Garage
Exterior features
PrivateYard
Appliances
GasWaterHeater
Lot features
Irregular Lot
Elementary school district
Pembroke
Middle school district
Pembroke
High school district
Pembroke
Subdivision
Pembroke-184289
Standard status
Active
APN
184289-014-000-0002-027-000
Size
2,644 SF
Lot size
1.50 Acres
Taxes and HOA fees
Tax Annual Amount
8562
Utilities
Heating system
Other (Heating), Hot Water(Heating), Baseboard, Natural Gas
Cooling system
Central Air
Water source
Public
Building Details
Year built
1850
Floors in Building
2
Number of units
2
Flooring type
Tile, Varies, Hardwood, Carpet, Laminate
Building materials
VinylSiding
Roof type
Asphalt
Architectural style
Other
Listing Agency:
Keller Williams Realty WNY
(716) 832-3300
Listed By:
Dorothy Haenggi · License #10401238897
(585) 356-0312
Added: Sep 11
Changed: Sep 16
Last Checked: Sep 16 at 5:06AM
MLS# B1714259
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 duplex property contains a 2,644-square-foot residence with distinct living spaces on the first and second floors. The lower unit offers 3 bedrooms and 2 full bathrooms, including a primary suite with a walk-in closet, sitting area, and private en-suite bath. It also includes in-unit laundry, a kitchen renovated in 2017, a Capital 6-burner chef’s range, convection wall oven, walk-in pantry, dining room, and living room. The upper unit provides 1 bedroom, 1 full bathroom, an eat-in kitchen, in-unit laundry, and a large living room accessed through its own private entrance.
The property occupies 1.5 acres at 823 Main Road in Corfu, NY, within the Pembroke School District. Exterior features include landscaped grounds, a four-car garage, and a parking pad sized for approximately 6-8 vehicles. Public water, natural gas heating, central air, vinyl siding, and an asphalt roof are also present.
The property occupies 1.5 acres at 823 Main Road in Corfu, NY, within the Pembroke School District. Exterior features include landscaped grounds, a four-car garage, and a parking pad sized for approximately 6-8 vehicles. Public water, natural gas heating, central air, vinyl siding, and an asphalt roof are also present.
Key Highlights
- 2,644‑square‑foot duplex with 3‑bedroom and 1‑bedroom units
- First‑floor kitchen renovated in 2017 with Capital 6‑burner range and convection wall oven
- 1.5‑acre property with landscaped private yard
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
$24,279
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
7.47%
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%
$485,580
$485.6K
Cap Rate 7%
$346,843
$346.8K
Cap Rate 9%
$269,767
$269.8K
Market Conditions
NOI Build-Up for 2,644 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
$36.5K $13.80/SF
− Vacancy
−$1.8K −$0.68/SF
EGI
$34.7K $13.12/SF
− OpEx
−$10.4K −$3.94/SF
NOI
$24.3K $9.18/SF
Area
Genesee County, NY
Vacancy
4.94%
Lease Rate
$13.80 /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%
$485,580
Cap Rate 7%
$346,843
Cap Rate 9%
$269,767
Alternative Uses
Best Use
Multifamily LT 5
$346.8K
$303.5K – $404.7K
NOI $24,279 @ 7.0% cap · market cap 7.47%
Second Best
Apartment 5plus
$302.5K
$264.7K – $352.9K
NOI $21,175 @ 7.0% cap · market cap 6.52%
Theoretical Best
Warehouse
$2.45M
$2.15M – $2.86M
NOI $171,791 @ 7.0% cap · market cap 52.86%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
38
Businesses Nearby
Explore this area
Business Placement
Demographics for 14036, NY
4,931
Population
2,521
Households
2
Avg Household Size
46
Median Age
19%
College-Educated
95%
High-School Grad
53.6 sq mi
ZIP Area
92
Density / Sq Mi
$91,806
Median Household Income
$46,506
Median Earnings
$923
Median Rent
$184,400
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in Northeast region
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Frequently Asked Questions
What type of property is this?
Duplex - Separate living spaces, updated kitchen features, and expansive grounds support flexible residential use.
Where is this duplex located?
The property is located at 823 Main Road Corfu, NY.
What is the asking price?
The asking price for this property is $325,000.
What are key features of this property?
This property features: 2,644‑square‑foot duplex with 3‑bedroom and 1‑bedroom units; First‑floor kitchen renovated in 2017 with Capital 6‑burner range and convection wall oven; 1.5‑acre property with landscaped private yard
