Two-Unit Duplex with Private
New
For Sale
$399,000
1 Montauk Ln, Lancaster, NY 14086
Both residences include central air, separate laundry areas, and individual driveways.
Property Size2,376 SF
Days on Market2
Property Features for 1 Montauk Ln
General Information
Standard status
Active
Size
2,376 SF
Property subtype
Multi Family
Additional Details
Asking Price
$399,000
Multifamily Units
2
Taxes and HOA fees
Annual Taxes
$8,137
Amenities
central air
private basements with separate laundry
separate driveways
full rear porch
huge yard
Building Details
Building Size
2,376 SF
Year Built
1994
Stories
2
Units
2
Listing Agency:
HUNT Real Estate Corporation
Listed By:
Dianne Michlinski · License #10301210410
(716) 864-7001
Source:
Elliman
Added: Oct 4
Last Checked: Oct 4 at 2:44PM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of HUNT Real Estate Corporation
Investment Insights
Based on property information with market context.
Built in 1994, this duplex contains two residences, each with central air and a private basement with laundry. Separate driveways serve the units. A rear porch and a large yard provide shared outdoor space.
The property is occupied on month-to-month tenancies. Rents have not changed since 2019.
The property is occupied on month-to-month tenancies. Rents have not changed since 2019.
Key Highlights
- Two residential units, each with central air
- Private basement and separate laundry area for each unit
- Individual driveways serve both residences
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
$15,277
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
3.83%
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%
$305,540
$305.5K
Cap Rate 7%
$218,243
$218.2K
Cap Rate 9%
$169,744
$169.7K
Market Conditions
NOI Build-Up for 2,376 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
$32.8K $13.80/SF
− Vacancy
−$11.0K −$4.61/SF
EGI
$21.8K $9.19/SF
− OpEx
−$6.5K −$2.76/SF
NOI
$15.3K $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%
$305,540
Cap Rate 7%
$218,243
Cap Rate 9%
$169,744
Alternative Uses
Best Use
Multifamily LT 5
$218.2K
$191.0K – $254.6K
NOI $15,277 @ 7.0% cap · market cap 3.83%
Second Best
Apartment 5plus
$196.0K
$171.5K – $228.6K
NOI $13,718 @ 7.0% cap · market cap 3.44%
Theoretical Best
Office A
$519.4K
$454.5K – $606.0K
NOI $36,359 @ 7.0% cap · market cap 9.11%
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
102
Businesses Nearby
Explore this area
Business Placement
Demographics for 14086, NY
35,010
Population
15,486
Households
2.3
Avg Household Size
44
Median Age
39%
College-Educated
95%
High-School Grad
33.3 sq mi
ZIP Area
1,051
Density / Sq Mi
$95,949
Median Household Income
$53,164
Median Earnings
$983
Median Rent
$263,600
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in Northeast region
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Frequently Asked Questions
What type of property is this?
Duplex - Both residences include central air, separate laundry areas, and individual driveways.
Where is this duplex located?
The property is located at 1 Montauk Ln Lancaster, NY.
What is the asking price?
The asking price for this property is $399,000.
What are key features of this property?
This property features: Two residential units, each with central air; Private basement and separate laundry area for each unit; Individual driveways serve both residences
