Updated Duplex with
For Sale
$164,000
2225 Falls Street, Niagara Falls, NY 14303
Residential, Niagara Falls, NY
Property Size1,560 SF
Lot Size0.20 Acres
Price / SF$105.13
Days on Market149
Property Features for 2225 Falls Street
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Bedrooms
3
Bathrooms
2
Full bathrooms
2
Rooms
Basement, Bathroom 2, Bedroom 2, Bedroom 1, Bathroom 1, Bedroom 3
Parking features
Garage
Patio and Porch features
Porch
Interior features
CeilingFans
Exterior features
FullyFenced
Fencing
Fenced
Appliances
GasWaterHeater
Lot features
Near Public Transit, Rectangular, Rectangular Lot, Residential Lot
Elementary school district
Niagara Falls
Middle school district
Niagara Falls
High school district
Niagara Falls
Subdivision
Niagara Falls-City-291100
Standard status
Active
APN
291100-159-049-0002-006-000
Size
1,560 SF
Lot size
0.20 Acres
Taxes and HOA fees
Tax Annual Amount
1614
Utilities
Heating system
Forced Air, Natural Gas
Water source
Public
Amenities
open front porch
laundry hookups in basement
backyard
Building Details
Year built
1910
Floors in Building
2
Number of units
2
Flooring type
Varies, Tile, Hardwood
Building materials
VinylSiding, CopperPlumbing
Roof type
Asphalt
Architectural style
Other
Listing Agency:
Keller Williams Realty WNY
(716) 832-3300
Listed By:
Keith Young · License #10301217774
(716) 912-4364
Added: Apr 3
Changed: Aug 22
Last Checked: Aug 29 at 5:06PM
MLS# B1671195
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 1,560-square-foot duplex in Niagara Falls, NY, includes a two-bedroom, one-bath lower apartment and a one-bedroom, one-bath upper apartment. The lower unit has a remodeled kitchen and bathroom, updated flooring, an eat-in kitchen, and included stove and refrigerator. The property also offers basement laundry hookups, a full basement, an open front porch, and a two-car garage. Heating is provided by forced air with natural gas, and the home has vinyl siding, copper plumbing, an asphalt roof, and a gas water heater.
Set on 0.2001 acres at 2225 Falls Street, the property includes a fenced backyard and public water. Niagara Falls attractions, restaurants, shopping, and the casino are located just minutes away. The roof is approximately 8 years old, and the hot water tank is newer.
Set on 0.2001 acres at 2225 Falls Street, the property includes a fenced backyard and public water. Niagara Falls attractions, restaurants, shopping, and the casino are located just minutes away. The roof is approximately 8 years old, and the hot water tank is newer.
Key Highlights
- 1,560‑square‑foot duplex with 2‑bedroom and 1‑bedroom units
- Lower apartment has remodeled kitchen and bathroom, updated flooring, and included stove and refrigerator
- Full basement with laundry hookups and an open front porch
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
$13,700
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
8.35%
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%
$274,000
$274.0K
Cap Rate 7%
$195,714
$195.7K
Cap Rate 9%
$152,222
$152.2K
Market Conditions
NOI Build-Up for 1,560 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
$21.0K $13.44/SF
− Vacancy
−$1.4K −$0.89/SF
EGI
$19.6K $12.55/SF
− OpEx
−$5.9K −$3.76/SF
NOI
$13.7K $8.78/SF
Area
Niagara County, NY
Vacancy
6.65%
Lease Rate
$13.44 /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%
$274,000
Cap Rate 7%
$195,714
Cap Rate 9%
$152,222
Alternative Uses
Best Use
Multifamily LT 5
$195.7K
$171.3K – $228.3K
NOI $13,700 @ 7.0% cap · market cap 8.35%
Second Best
Apartment 5plus
$173.7K
$152.0K – $202.7K
NOI $12,161 @ 7.0% cap · market cap 7.42%
Theoretical Best
Warehouse
$1.33M
$1.16M – $1.55M
NOI $92,787 @ 7.0% cap · market cap 56.58%
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
305
Businesses Nearby
Explore this area
Business Placement
Demographics for 14303, NY
5,958
Population
3,505
Households
1.7
Avg Household Size
38
Median Age
16%
College-Educated
82%
High-School Grad
2.7 sq mi
ZIP Area
2,207
Density / Sq Mi
$45,519
Median Household Income
$34,623
Median Earnings
$845
Median Rent
$78,200
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?
Duplex - Two-unit property with a fenced yard, full basement, front porch, and public water service.
Where is this duplex located?
The property is located at 2225 Falls Street Niagara Falls, NY.
What is the asking price?
The asking price for this property is $164,000.
What are key features of this property?
This property features: 1,560‑square‑foot duplex with 2‑bedroom and 1‑bedroom units; Lower apartment has remodeled kitchen and bathroom, updated flooring, and included stove and refrigerator; Full basement with laundry hookups and an open front porch
