Residential Income Duplex with In-Law
3248 Lockport Olcott Road Newfane, NY 14108
3248 Lockport Olcott Road, Newfane, NY, 14108
$1,350,000
For Sale
$1,350,000
MULTI_FAMILY - Newfane, NY
Property Size5,306 SF
Lot Size14.80 Acres
Price / SF$254.43
Days on Market408
Property Features for 3248 Lockport Olcott Road
General Information
- Property type
- Residential Multi Family
- Property subtype
- Other
- Bedrooms
- 6
- Bathrooms
- 5
- Rooms
- Bedroom 3, Bedroom 4, Bedroom 6, Bathroom 1, Bathroom 2, Bathroom 5, Basement, Bedroom 5, Bedroom 2, Bathroom 3, Bedroom 1, Bathroom 4
- Spa
- 1
- Patio and Porch features
- Patio
- Interior features
- AirFiltration, ProgrammableThermostat
- Exterior features
- Barbecue, HotTubSpa, Pool, Patio
- Fireplace
- 1
- Appliances
- GasWaterHeater, Humidifier
- Standard status
- Active
- APN
- 292800-053-013-0001-050-001
- Size
- 5,306 SF
- Lot size
- 14.80 Acres
Taxes and HOA fees
- Tax Annual Amount
- 18816
Utilities
- Heating system
- Forced Air, Zoned, Natural Gas
- Cooling system
- Central Air, Zoned
- Water source
- Public
- Water front features
- River Access, Stream
Building Details
- Year built
- 1997
- Floors in Building
- 1
- Number of units
- 2
- Flooring type
- Hardwood, Varies, Tile
- Building materials
- Stone, Stucco, VinylSiding
- Roof type
- Asphalt
Listing agency
WNY Metro Roberts Realty
(716) 875-2211
Listed by
Michelle Petrie · License #10401343898
(585) 749-8275
Added: Jun 10, 2025 Updated: Jul 9 at 3:58AM Checked: Jul 22 at 10:06PM
MLS# B1613565
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 residential income duplex includes a main residence with 4 bedrooms and 3 baths, featuring a primary suite with a walk-in closet and spa-inspired bath, plus an oversized chef’s kitchen and dining room. A separate in-law suite offers 2 bedrooms, a full bath, and its own living area. The finished basement includes a private gym.
Set on 14.8 acres in Newfane, NY, the property includes an inground pool with a hot tub, outdoor kitchen, pergola dining area, pool house, basketball court, and expansive patios. Recent upgrades listed include new garage doors and new AC condensers.
Set on 14.8 acres in Newfane, NY, the property includes an inground pool with a hot tub, outdoor kitchen, pergola dining area, pool house, basketball court, and expansive patios. Recent upgrades listed include new garage doors and new AC condensers.
Key Highlights
- Custom home built in 1997 with river access and a stream on over 14 acres
- Main residence offers 4 bedrooms and 3 bathrooms, plus a primary suite with walk‑in closet and spa‑inspired bath
- Separate in‑law suite includes 2 bedrooms, a full bath, and its own living area
Local Financial Insights For Multifamily LT 5
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 | $71.3k | $13.44 |
| − Vacancy | −$4.7k | −$0.89 |
| EGI | $66.6k | $12.55 |
| − OpEx | −$20.0k | −$3.76 |
| NOI | $46.6k | $8.78 |
5,306 SF · lease $13.44/SF/yr · vacancy 6.65% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$665.7K
$582.5K – $776.7K
NOI $46,599 @ 7.0% cap · market cap 3.45%
Second Best
Apartment 5plus
$590.9K
$517.0K – $689.4K
NOI $41,362 @ 7.0% cap · market cap 3.06%
Theoretical Best
Warehouse
$4.51M
$3.94M – $5.26M
NOI $315,594 @ 7.0% cap · market cap 23.38%
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 - Residential income property on 14.8 acres with an in-law suite, pool, and finished basement gym.
Where is this duplex located?
The property is located at 3248 Lockport Olcott Road Newfane, NY.
What is the asking price?
The asking price for this property is $1,350,000.
What are key features of this property?
This property features: Custom home built in 1997 with river access and a stream on over 14 acres; Main residence offers 4 bedrooms and 3 bathrooms, plus a primary suite with walk‑in closet and spa‑inspired bath; Separate in‑law suite includes 2 bedrooms, a full bath, and its own living area
