Spacious Depew Multifamily
For Sale
$285,000
1 Wendel Street, Depew, NY 14043
Multifamily property with income potential in a desirable location.
Property Size2,080 SF
Days on Market132
Property Features for 1 Wendel Street
General Information
Standard status
Active
Size
2,080 SF
Property subtype
Multi Family Home
Taxes and HOA fees
Annual Taxes
$5,077
Building Details
Building Size
2,080 SF
Year Built
1927
Stories
2
Units
2
Listing Agency:
Avant Realty LLC
(716) 463-0108
Listed By:
Charles Glander · License #10491210074
(716) 463-0108
Source:
Homeprocny
Added: Apr 15
Changed: Aug 23
Last Checked: Aug 23 at 8:51AM
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 Avant Realty LLC
Investment Insights
Based on property information with market context.
Located at 1 Wendel St in Depew, NY, this multifamily property presents an investment opportunity or potential for owner occupancy. The property features two units, each with two bedrooms and two bathrooms. The upper unit is currently rented for $985 per month. The lower unit is vacant but was previously rented for $1,513 per month. The property includes a full basement and a 2-car garage. An additional lot directly behind the property provides extra space. The property can be purchased individually or as part of a package deal including a vacant lot across the street, a single-family home next door, and another double at the end of the cul-de-sac. The location is considered bikeable with a score of 52 and car-dependent with a score of 29.
Key Highlights
- Strong income potential: Upper unit rented at $985/month; lower unit previously rented at $1,513/month.
- Opportunity for owner‑occupancy or investment.
- Includes an additional lot directly behind the property.
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
$13,374
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
4.69%
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%
$267,480
$267.5K
Cap Rate 7%
$191,057
$191.1K
Cap Rate 9%
$148,600
$148.6K
Market Conditions
NOI Build-Up for 2,080 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
$28.7K $13.80/SF
− Vacancy
−$9.6K −$4.61/SF
EGI
$19.1K $9.19/SF
− OpEx
−$5.7K −$2.76/SF
NOI
$13.4K $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%
$267,480
Cap Rate 7%
$191,057
Cap Rate 9%
$148,600
Alternative Uses
Best Use
Multifamily LT 5
$191.1K
$167.2K – $222.9K
NOI $13,374 @ 7.0% cap · market cap 4.69%
Second Best
Apartment 5plus
$171.6K
$150.1K – $200.2K
NOI $12,009 @ 7.0% cap · market cap 4.21%
Theoretical Best
Office A
$454.7K
$397.9K – $530.5K
NOI $31,829 @ 7.0% cap · market cap 11.17%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
461
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 - Multifamily property with income potential in a desirable location.
Where is this duplex located?
The property is located at 1 Wendel Street Depew, NY.
What is the asking price?
The asking price for this property is $285,000.
What are key features of this property?
This property features: Strong income potential: Upper unit rented at $985/month; lower unit previously rented at $1,513/month.; Opportunity for owner‑occupancy or investment.; Includes an additional lot directly behind the property.
