37 N 3rd Street, Allegany, NY 14706

Property Description

Side-by-side single-story duplexes don't come along often. Only a few stairs to enter, no shared floors, no neighbors overhead — just two private units, each with its own entrance and its own driveway. That layout is exactly what tenants stay put for, and it's why this property has held long-term renters year after year. At 2,048 square feet, there's real living space here, not the cramped footprint you find in most small multifamily. Both units are single-story, making them appealing to a wide tenant pool. The investor angle: one unit will be delivered vacant at closing, giving you the chance to reset that rent at market from day one. The remaining tenant is long-term, currently at $550 plus utilities, and open to negotiating a new lease. Tenants pay their own utilities, keeping your operating costs predictable. Recent capital already in place: a portion of the roof was replaced within the last 2–3 years, with the balance approximately 12 years old — meaningful deferred maintenance already handled. Yes, it needs some TLC. That's the opportunity. Cosmetic updates here translate directly into higher rents in a village where quality rentals are genuinely hard to find. Whether you're adding to a portfolio or house-hacking your first property — live in one side, let the other side pay the mortgage — this is the kind of property that rewards a little sweat equity. Sought-after Village of Allegany location. Properties like this rarely hit the open market. Schedule your showing today.