Two-Family Corner-Lot Home with
2821 Walnut Avenue Niagara Falls, NY 14301
2821 Walnut Avenue, Niagara Falls, NY, 14301
$159,900
For Sale
$159,900
MULTI_FAMILY - Niagara Falls, NY
Property Size1,776 SF
Lot Size0.17 Acres
Price / SF$90.03
Days on Market16
Property Features for 2821 Walnut Avenue
General Information
- Property type
- Residential Multi Family
- Property subtype
- Other
- Bedrooms
- 3
- Bathrooms
- 2
- Rooms
- Bathroom 2, Bathroom 1, Bedroom 2, Basement, Bedroom 1, Bedroom 3
- Parking features
- Garage
- Patio and Porch features
- Deck
- Interior features
- CeilingFans, SlidingGlassDoors, NaturalWoodwork
- Exterior features
- Deck, FullyFenced
- Fencing
- Fenced
- Appliances
- GasWaterHeater
- Standard status
- Active
- APN
- 291100-159-027-0003-003-000
- Size
- 1,776 SF
- Lot size
- 0.17 Acres
Taxes and HOA fees
- Tax Annual Amount
- 2725
Utilities
- Heating system
- Natural Gas, Forced Air
- Water source
- Public
Building Details
- Year built
- 1910
- Floors in Building
- 2
- Number of units
- 2
- Flooring type
- Carpet, Varies, Vinyl, Laminate
- Building materials
- VinylSiding
- Roof type
- Asphalt
Listing Agency
Deal Realty, Inc.
(716) 754-3301
451 Center Street, Lewiston, NY
Listed by
Cheryl Deal · License #10311205717
(716) 940-0548
Added: Jul 2 Checked: Jul 17 at 11:06 am
MLS# B1622910
Listing URL
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 well-maintained two-family home has been owner-occupied for over 18 years and is set up for flexible living. The first-floor unit includes a mudroom, a bright eat-in kitchen with ample cabinetry and included appliances, a large family room with natural light and sliding glass door access to the backyard, and a living room that can also function as a formal dining area, office, or den. The first floor has one full bath and two generous bedrooms, including a double closet and a bay-window bedroom with an oversized closet. A basement with direct access from the first unit includes a washer, dryer, refrigerator, stand-up freezer, workbench, and extensive storage. The second-floor unit has a private entrance and offers its own mudroom, eat-in kitchen, living room, and a large bedroom.
Set on an oversized, fully fenced corner lot, the property features two open porches and a rear deck, providing outdoor space for relaxing and gatherings. A one-car attached garage is complemented by additional driveway parking for the second-floor apartment. The lot is spacious enough to potentially add more parking off the alley on the side of the property.
With two separate living areas and independent second-floor entry, the home is a practical fit for multi-generational households or buyers looking for residential rental income. The adaptable first-floor layout, including the family room’s potential third-bedroom use, also supports a straightforward single-family conversion scenario if desired.
Set on an oversized, fully fenced corner lot, the property features two open porches and a rear deck, providing outdoor space for relaxing and gatherings. A one-car attached garage is complemented by additional driveway parking for the second-floor apartment. The lot is spacious enough to potentially add more parking off the alley on the side of the property.
With two separate living areas and independent second-floor entry, the home is a practical fit for multi-generational households or buyers looking for residential rental income. The adaptable first-floor layout, including the family room’s potential third-bedroom use, also supports a straightforward single-family conversion scenario if desired.
Key Highlights
- Two‑family home built in 1910 with owner‑occupied history for over 18 years
- Oversized fully fenced corner lot with mature trees and gardens, plus a rear deck and two open porches
- 1‑car attached garage plus additional driveway parking for the second‑floor apartment; potential for more parking off the alley
Local Financial Insights For Apartment 5plus
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $27.1k | $15.24 |
| − Vacancy | −$1.9k | −$1.07 |
| EGI | $25.2k | $14.17 |
| − OpEx | −$11.3k | −$6.38 |
| NOI | $13.8k | $7.80 |
1,776 SF · lease $15.24/SF/yr · vacancy 7.00% · expense 45.00%
Alternative Uses
Best Use
Multifamily LT 5
$222.8K
$195.0K – $260.0K
NOI $15,597 @ 7.0% cap · market cap 9.75%
Second Best
Apartment 5plus
$197.8K
$173.1K – $230.7K
NOI $13,844 @ 7.0% cap · market cap 8.66%
Theoretical Best
Warehouse
$1.51M
$1.32M – $1.76M
NOI $105,634 @ 7.0% cap · market cap 66.06%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
Duplexes
Similar For Sale Nearby
FAQs
What type of property is this?
Duplex - Well-maintained two-family with private second-floor entrance, fenced yard, two porches, rear deck, and extensive basement storage.
Where is this duplex located?
The property is located at 2821 Walnut Avenue Niagara Falls, NY.
What is the asking price?
The asking price for this property is $159,900.
What are key features of this property?
This property features: Two‑family home built in 1910 with owner‑occupied history for over 18 years; Oversized fully fenced corner lot with mature trees and gardens, plus a rear deck and two open porches; 1‑car attached garage plus additional driveway parking for the second‑floor apartment; potential for more parking off the alley
