Updated Duplex with Private Fenced
For Sale
$309,900
Pending
25 Sheldon Avenue, Depew, NY 14043
MULTI_FAMILY - Other - Depew, NY
Property Size2,296 SF
Lot Size0.23 Acres
Days on Market29
Property Features for 25 Sheldon Avenue
General Information
Property type
Residential Multi Family
Property subtype
Other
Bedrooms
5
Bathrooms
4
Full bathrooms
2
Half bathrooms
2
Rooms
Bedroom 1, Bathroom 3, Bedroom 2, Bedroom 3, Bathroom 4, Bathroom 2, Bathroom 1, Basement, Bedroom 5, Bedroom 4
Parking features
Garage
Patio and Porch features
Patio
Exterior features
FullyFenced, Fence, Patio, PrivateYard
Fencing
Fenced
Appliances
GasWaterHeater
Lot features
Near Public Transit, Rectangular, Rectangular Lot, Residential Lot
Middle school
Lancaster Middle
High school
Lancaster High
Elementary school district
Lancaster
Middle school district
Lancaster
High school district
Lancaster
Directions
Walden to Sheldon.
Subdivision
Lancaster-Village-145203
Standard status
Pending
APN
145203-104-110-0011-009-000
Size
2,296 SF
Lot size
0.23 Acres
Taxes and HOA fees
Tax Annual Amount
5182
Utilities
Heating system
Natural Gas, Forced Air
Cooling system
Central Air
Water source
Public
Amenities
private fenced patio
common green space
Building Details
Year built
1836
Floors in Building
2
Number of units
2
Flooring type
Tile, Vinyl, Varies
Building materials
VinylSiding
Roof type
Asphalt
Architectural style
Other
Listing Agency:
Keller Williams Realty Lancaster
(716) 324-2300
Listed By:
Timothy D Maciejewski · License #10301217558
(716) 989-7440
Added: Jul 27
Changed: Aug 12
Last Checked: Aug 24 at 10:06PM
MLS# B1701780
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.
Updated side-by-side duplex at 25 Sheldon Avenue in Depew, NY featuring 2,296 square feet of living space under one roof. The layout includes a three-bedroom, 1.5-bath unit and a two-bedroom, 1.5-bath unit, each with modern interior finishes and contemporary flooring. Heating is provided by natural gas forced air, and the home has central air.
The three-bedroom unit includes exclusive access to a private, fully fenced patio, with additional common green space provided by the expansive side yard. Exterior features include vinyl siding, an asphalt roof, and a detached two-car garage with ample off-street parking.
The property is described as tenant occupied, and a 48-hour notice is required for all showings. Public water is available, and the home includes a gas water heater. The owner is asking for offer review as they are received.
The three-bedroom unit includes exclusive access to a private, fully fenced patio, with additional common green space provided by the expansive side yard. Exterior features include vinyl siding, an asphalt roof, and a detached two-car garage with ample off-street parking.
The property is described as tenant occupied, and a 48-hour notice is required for all showings. Public water is available, and the home includes a gas water heater. The owner is asking for offer review as they are received.
Key Highlights
- 2,296‑square‑foot side‑by‑side duplex
- Three‑bedroom, 1.5‑bath unit plus two‑bedroom, 1.5‑bath unit
- Private fully fenced patio exclusive to the three‑bedroom unit
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
$14,763
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
4.76%
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%
$295,260
$295.3K
Cap Rate 7%
$210,900
$210.9K
Cap Rate 9%
$164,033
$164.0K
Market Conditions
NOI Build-Up for 2,296 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
$31.7K $13.80/SF
− Vacancy
−$10.6K −$4.61/SF
EGI
$21.1K $9.19/SF
− OpEx
−$6.3K −$2.76/SF
NOI
$14.8K $6.43/SF
Area
Erie County, NY
Vacancy
33.44%
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%
$295,260
Cap Rate 7%
$210,900
Cap Rate 9%
$164,033
Alternative Uses
Best Use
Multifamily LT 5
$210.9K
$184.5K – $246.1K
NOI $14,763 @ 7.0% cap · market cap 4.76%
Second Best
Apartment 5plus
$189.4K
$165.7K – $220.9K
NOI $13,256 @ 7.0% cap · market cap 4.28%
Theoretical Best
Office A
$501.9K
$439.2K – $585.6K
NOI $35,134 @ 7.0% cap · market cap 11.34%
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
313
Businesses Nearby
Explore this area
Business Placement
Demographics for 14043, NY
24,962
Population
11,743
Households
2.1
Avg Household Size
45
Median Age
27%
College-Educated
94%
High-School Grad
9.1 sq mi
ZIP Area
2,743
Density / Sq Mi
$73,373
Median Household Income
$50,263
Median Earnings
$1,072
Median Rent
$192,800
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 - Side-by-side duplex offers two updated residences with private fenced outdoor space, central air, and a detached two-car garage.
Where is this duplex located?
The property is located at 25 Sheldon Avenue Depew, NY.
What is the asking price?
The asking price for this property is $309,900.
What are key features of this property?
This property features: 2,296‑square‑foot side‑by‑side duplex; Three‑bedroom, 1.5‑bath unit plus two‑bedroom, 1.5‑bath unit; Private fully fenced patio exclusive to the three‑bedroom unit
