Investment Opportunity – Duplex with Strong Cash Flow & Upside Potential! This spacious duplex features two large 2-bedroom units with solid rental income and over $25,000 in recent improvements. The left unit is especially roomy, offering 1.5 bathrooms and extra living space. Currently rented at $1,125 per side ($2,250/month gross), this property has already generated over $17,000 in 2025 income. Utilities are included under existing leases but could be restructured to boost your net operating income. Two spacious 2BR units Over $25K in updates since purchase in 2024 Long-term tenants in place Gross rents: $2,250/month with room to increase Potential to separate utilities for higher returns Strong bones and a layout that supports rent increases with further improvements
Multi-familyProperty Type
1875Year Built
$56Est. Price/Sq.Ft.
Listing by Andrew Hughes• Keller Williams Realty Southern Tier & Finger Lakes
2 UNIT SIDE BY SIDE, SEPERATE HEAT, 2 BEDROOMS EAC H, MOST OF ROOF NEW, LEFT APT HAS 1 1/2 BATHS. TEN ANT LEFT SIDE ROSEMARY VERT 734-4594, TENANT RIGHT SIDE LISA AND DON WILIAMS.
Year
Property tax
Land + Additions
Assessment*
2026
$2,575
$6,500 + $37,500
$44,000
2025
$2,575 (−33.0%)
$6,500 + $37,500
$44,000
2024
$3,844 (+34.9%)
$6,500 + $37,500
$44,000
2023
$2,848 (−15.1%)
$6,500 + $37,500
$44,000
2022
$3,354 (+118.5%)
$6,500 + $37,500
$44,000
2021
$1,535 (−4.1%)
$6,500 + $37,500
$44,000
2020
$1,601 (+0.5%)
$6,500 + $37,500
$44,000
2019
$1,593 (−54.6%)
$6,500 + $37,500
$44,000
2018
$3,506 (+125.2%)
$6,500 + $37,500
$44,000
2017
$1,557 (+0.7%)
$6,500 + $37,500
$44,000
2016
$1,547 (+0.3%)
$6,500 + $37,500
$44,000
2015
$1,542 (+1.0%)
$6,500 + $37,500
$44,000
2014
$1,527
$6,500 + $37,500
$44,000
Tax history for 355 Walnut St
Year
Property tax
Land + Additions
Assessment*
2026
$2,575
$6,500 + $37,500
$44,000
2025
$2,575 (−33.0%)
$6,500 + $37,500
$44,000
2024
$3,844 (+34.9%)
$6,500 + $37,500
$44,000
2023
$2,848 (−15.1%)
$6,500 + $37,500
$44,000
2022
$3,354 (+118.5%)
$6,500 + $37,500
$44,000
2021
$1,535 (−4.1%)
$6,500 + $37,500
$44,000
2020
$1,601 (+0.5%)
$6,500 + $37,500
$44,000
2019
$1,593 (−54.6%)
$6,500 + $37,500
$44,000
2018
$3,506 (+125.2%)
$6,500 + $37,500
$44,000
2017
$1,557 (+0.7%)
$6,500 + $37,500
$44,000
2016
$1,547 (+0.3%)
$6,500 + $37,500
$44,000
2015
$1,542 (+1.0%)
$6,500 + $37,500
$44,000
2014
$1,527
$6,500 + $37,500
$44,000
*Taxable value of land and structures on it ("additions") is determined regularly by local assessors and does not affect market price.
Public record
Public record
Zoning
Beds
4
Baths
2
Stories
2
Lot width
55 ft.
Lot depth
78 ft.
Lot size
4,278 Sq. Ft.
Year renovated
—
Sq. Ft.
1,864
Year built
1875
Style
Multi-Family (2-4 Unit)
County
Chemung County
APN
070400A08901800030120000000
Parking Spaces
—
Basement
—
Accessible
—
HOA Dues
—
Garage
—
Features
—
Last updated by owner on Aug 10, 2026.
BUSINESS A
Neighborhood Commercial District
This district is intended to create, preserve and enhance business areas of the city that will serve residential neighborhoods. This is intended to be a limited business category which has the main purpose of providing day-to-day convenient retail needs of nearby residents. This district occurs most often at limited corner intersections of main thoroughfares. They will generally be areas which will contain several small-scale retail establishments in small clustered groupings serving frequently recurring needs in locations convenient to residences. Since these districts immediately abut neighboring residential properties, emphasis on buffering, landscaping, scale and size of businesses is essential.
Permitted uses
Include but are not limited to:
Bank
Convenience store
Day care facility
General retail
Restaurant
Tavern / bar / nightclub / micro-Brewery
Housing-Single unit
Housing-Senior
Office
Park & open space
Property details
Parking
Parking
Features: No Driveway
Interior
Bathroom Information
# of Full Bathrooms: 2
# of Half Bathrooms: 1
Room Information
Basement Information: Dirt Floor
Equipment
Appliances: Gas Water Heater
Interior Features
Flooring: Hardwood, Laminate, Varies
Multi Unit Information
# Of Units Total: 2
# Of Units In Community: 2
# Of Separate Gas Meters: 2
# Of Separate Electric Meters: 1
Multi Unit Financial Information
Operating Expense Includes: Professional Management
Unit Type 1
Unit Description: ,Laundry-In Unit
# of Bedrooms: 2
# of Bathrooms Total: 1
# of Full Bathrooms: 1
Total Rent: $1,125
Actual Rent: $1,125
Actual Rent Range: 1125
Unit Type 2
Unit Description: ,Other - See Remarks
# of Bedrooms: 2
# of Bathrooms Total: 2
# of Full Bathrooms: 1
# of Half Bathrooms: 1
Total Rent: $1,125
Actual Rent: $1,125
Actual Rent Range: 1125
Exterior
Building Information
Stories: 2
Stories (Total): 2
Year Built Details: Existing
Roof Details: Shingle
Construction Details: See Remarks
Lot Information
Lot Size Dimensions: 7X54
Lot Features: Rectangular, Rectangular Lot, Residential Lot
Road Frontage Type: City Street
Property Information
Resale
Financial
Assessments and Fees
Assessed Value: $44,000
Tax Information
Annual Tax Amount: $2,852
Rental Information
Owner Pays: Electricity, Heat, Water
Rent Includes: Electricity, Heat, Water
Utilities
Utility Information
Utilities: Sewer Connected, Water Connected
Sewer: Connected
Water Source: Connected, Public
Heating & Cooling
Has Heating
Heating: Gas, Forced Air
Public facts
Beds: 4
Baths: 2.0
Sq. Ft.: 1,864
Stories: 2.0
Lot Size: 4,278 square feet
Style: Multi-Family (2-4 Unit)
Year Built: 1875
Year Renovated: —
County: Chemung County
APN: 070400A08901800030120000000
Home facts updated by county records on Aug 10, 2026
Around this home
Schools
Places
Transit
Thomas K Beecher School
Public 3-6 • Assigned • 1.4mi
1/10
Ernie Davis Academy
Public 7-8 • Assigned • 0.8mi
3/10
Elmira High School
Public 10-12 • Assigned • 1.8mi
3/10
Provided by GreatSchools
Lifestyle
Provided by Walk Score and Local Logic
Climate risks
1/10 Flood Factor
Minimal risk of a flood reaching the building in the next 30 years
1/10 Fire Factor
Unlikely to be in a wildfire in next 30 years
3/10 Heat Factor
8 days above 97° expected this year, 17 days in 30 years
2/10 Wind Factor
1% chance of strong winds in next 30 years
1/10 Air Factor
0 unhealthy days expected this year, 0 days in 30 years
Provided by First Street
Historical weather
Elmira, NY • 14901
Average low and high temperatures (°F)
30
18
35
20
53
31
62
39
67
48
80
59
86
65
80
59
76
54
64
41
50
34
37
23
Jan
Feb
Mar
Apr
May
Jun
Jul
Aug
Sep
Oct
Nov
Dec
Sun exposure
In this area, properties receive around 9.2 hours in
June and 2.6 hours in December, placing it below the
U.S. average for solar exposure.
9.2 hrs
2.6 hrs
JuneDecember
Provided by Shadowmap
Estimated sale price
$100,000 – $121,000
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