Duplex with
New
For Sale
$175,000
350 Thompson Street, North Tonawanda, NY 14120
Residential, North Tonawanda, NY
Property Size1,826 SF
Lot Size0.08 Acres
Price / SF$95.84
Days on Market1
Property Features for 350 Thompson Street
General Information
Property type
Residential Multi Family
Property subtype
Other
Bedrooms
4
Bathrooms
2
Full bathrooms
2
Rooms
Bathroom 2, Basement, Bathroom 1, Bedroom 3, Bedroom 2, Bedroom 4, Bedroom 1
Interior features
CeilingFans
Exterior features
Fence
Fencing
Fenced
Appliances
GasWaterHeater
Subdivision
Village/North Tonawanda
Lot features
Rectangular, Rectangular Lot, Residential Lot
Elementary school district
North Tonawanda
Middle school district
North Tonawanda
High school district
North Tonawanda
Standard status
Active
APN
291200-182-079-0002-030-000
Size
1,826 SF
Lot size
0.08 Acres
Taxes and HOA fees
Tax Annual Amount
3518
Utilities
Heating system
Natural Gas, Forced Air
Water source
Public
Amenities
sunrooms
laundry hook-ups
Building Details
Year built
1900
Floors in Building
2
Number of units
2
Flooring type
Hardwood, Laminate, Varies, Carpet
Building materials
CompositeSiding
Roof type
Asphalt
Architectural style
Other
Listing Agency:
Keller Williams Realty WNY
(716) 832-3300
Listed By:
Josh J Peters · License #40PE0895599
(716) 583-1348
Added: Sep 24
Last Checked: Sep 24 at 6:06PM
MLS# B1716737
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 1,826-square-foot duplex contains two separate residences on a 0.0826-acre lot. The first-floor unit has three bedrooms, a full bathroom, living and dining rooms, a kitchen, pantry, and laundry hookups. The upper unit includes one bedroom, one bathroom, living and dining rooms, and a kitchen, with laundry hookups in the basement.
Both units have sunrooms with extensive window areas. Built in 1900, the property has hardwood, laminate, and carpet flooring, forced-air natural gas heat, a fenced exterior, and public water service.
Both units have sunrooms with extensive window areas. Built in 1900, the property has hardwood, laminate, and carpet flooring, forced-air natural gas heat, a fenced exterior, and public water service.
Key Highlights
- Two‑unit duplex with 1,826 square feet of building area
- First‑floor residence has 3 bedrooms and laundry hookups
- Upper residence has 1 bedroom and basement laundry hookups
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
$16,037
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
9.16%
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%
$320,740
$320.7K
Cap Rate 7%
$229,100
$229.1K
Cap Rate 9%
$178,189
$178.2K
Market Conditions
NOI Build-Up for 1,826 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
$24.5K $13.44/SF
− Vacancy
−$1.6K −$0.89/SF
EGI
$22.9K $12.55/SF
− OpEx
−$6.9K −$3.76/SF
NOI
$16.0K $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%
$320,740
Cap Rate 7%
$229,100
Cap Rate 9%
$178,189
Alternative Uses
Best Use
Multifamily LT 5
$229.1K
$200.5K – $267.3K
NOI $16,037 @ 7.0% cap · market cap 9.16%
Second Best
Apartment 5plus
$203.3K
$177.9K – $237.2K
NOI $14,234 @ 7.0% cap · market cap 8.13%
Theoretical Best
Warehouse
$1.55M
$1.36M – $1.81M
NOI $108,608 @ 7.0% cap · market cap 62.06%
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
924
Businesses Nearby
Explore this area
Business Placement
Demographics for 14120, NY
44,538
Population
20,367
Households
2.2
Avg Household Size
45
Median Age
30%
College-Educated
94%
High-School Grad
32.6 sq mi
ZIP Area
1,366
Density / Sq Mi
$76,608
Median Household Income
$47,014
Median Earnings
$932
Median Rent
$205,300
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Multifamily in Northeast region
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Frequently Asked Questions
What type of property is this?
Duplex - The two residences provide three-bedroom and one-bedroom layouts, each with a sunroom.
Where is this duplex located?
The property is located at 350 Thompson Street North Tonawanda, NY.
What is the asking price?
The asking price for this property is $175,000.
What are key features of this property?
This property features: Two‑unit duplex with 1,826 square feet of building area; First‑floor residence has 3 bedrooms and laundry hookups; Upper residence has 1 bedroom and basement laundry hookups
