Two-Unit Canal-View
For Sale
$125,000
2 N Main Street, Middleport, NY 14105
Residential, Middleport, NY
Property Size1,408 SF
Lot Size0.08 Acres
Price / SF$88.78
Days on Market98
Property Features for 2 N Main Street
General Information
Property type
Residential Multi Family
Property subtype
Other
Bedrooms
3
Bathrooms
2
Full bathrooms
2
Rooms
Bedroom 3, Basement, Bedroom 2, Bedroom 1, Bathroom 1, Bathroom 2
Appliances
ElectricWaterHeater
Lot features
Corner Lot, Rectangular, Rectangular Lot
Elementary school district
Royalton-Hartland
Middle school district
Royalton-Hartland
High school district
Royalton-Hartland
Subdivision
Middleport Village-Royalton-293601
Standard status
Active
APN
293601-086-013-0001-045-001
Size
1,408 SF
Lot size
0.08 Acres
Taxes and HOA fees
Tax Annual Amount
3182
Utilities
Heating system
Natural Gas, Forced Air, Baseboard
Water source
Public
Building Details
Year built
1860
Floors in Building
2
Number of units
2
Flooring type
Varies, Vinyl, Carpet
Building materials
VinylSiding
Listing Agency:
Keller Williams Realty WNY
(716) 832-3300
Listed By:
Matthew D Kennedy · License #10301223081
(716) 256-0510
Added: Jun 12
Changed: Sep 17
Last Checked: Sep 17 at 2:06PM
MLS# B1685625
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 1,408-square-foot duplex, built in 1860, contains two separate residences with individual entrances and utility metering. The first-floor apartment offers one bedroom and one bathroom with forced-air heat. Upstairs, the second apartment includes two bedrooms and one bathroom, with baseboard boiler heat. Vinyl siding, varied carpet and vinyl flooring, an electric water heater, and public water service are among the property features.
Set on a 0.0757-acre corner lot, the property overlooks the canal and lift bridge. Off-street gravel parking is provided, while the separate gas and water meters support distinct utility management for each unit.
Set on a 0.0757-acre corner lot, the property overlooks the canal and lift bridge. Off-street gravel parking is provided, while the separate gas and water meters support distinct utility management for each unit.
Key Highlights
- Two‑unit duplex with 1,408 square feet of building area
- First‑floor 1‑bedroom, 1‑bathroom apartment with forced‑air heating
- Second‑floor 2‑bedroom, 1‑bathroom apartment with baseboard boiler heat
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
$10,976
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
8.78%
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%
$219,520
$219.5K
Cap Rate 7%
$156,800
$156.8K
Cap Rate 9%
$121,956
$122.0K
Market Conditions
NOI Build-Up for 1,408 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
$21.5K $15.24/SF
− Vacancy
−$1.5K −$1.07/SF
EGI
$20.0K $14.17/SF
− OpEx
−$9.0K −$6.38/SF
NOI
$11.0K $7.80/SF
Area
Niagara County, NY
Vacancy
7.00%
Lease Rate
$15.24 /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%
$219,520
Cap Rate 7%
$156,800
Cap Rate 9%
$121,956
Alternative Uses
Best Use
Multifamily LT 5
$176.7K
$154.6K – $206.1K
NOI $12,366 @ 7.0% cap · market cap 9.89%
Second Best
Apartment 5plus
$156.8K
$137.2K – $182.9K
NOI $10,976 @ 7.0% cap · market cap 8.78%
Theoretical Best
Warehouse
$1.20M
$1.05M – $1.40M
NOI $83,746 @ 7.0% cap · market cap 67.00%
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
105
Businesses Nearby
Explore this area
Business Placement
Demographics for 14105, NY
4,388
Population
2,149
Households
2
Avg Household Size
44
Median Age
20%
College-Educated
90%
High-School Grad
51.6 sq mi
ZIP Area
85
Density / Sq Mi
$85,208
Median Household Income
$37,527
Median Earnings
$594
Median Rent
$154,900
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 - Each residence has its own entrance, gas meter, and water meter.
Where is this duplex located?
The property is located at 2 N Main Street Middleport, NY.
What is the asking price?
The asking price for this property is $125,000.
What are key features of this property?
This property features: Two‑unit duplex with 1,408 square feet of building area; First‑floor 1‑bedroom, 1‑bathroom apartment with forced‑air heating; Second‑floor 2‑bedroom, 1‑bathroom apartment with baseboard boiler heat
