Two-Unit Duplex with
For Sale
$285,000
1 Wendel St, Depew, NY 14043
Residential income property with a full basement, additional rear lot, and separate two-car garage.
Property Size2,080 SF
Price / SF$137.02
Days on Market38
Property Features for 1 Wendel St
General Information
Standard status
Active
Size
2,080 SF
Property subtype
Multi-Family
Building Details
Year Built
1927
Listing Agency:
Avant Realty LLC
(716) 463-0108
Listed By:
Charles Glander · License #10491210074
Source:
Skinnercnyrealty
Added: Jul 26
Changed: Aug 31
Last Checked: Aug 31 at 6:37PM
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.
This 2,080-square-foot duplex in Depew, New York, contains two residential units within a building constructed in 1927. The property includes a full basement and a detached two-car garage, providing useful support space for the residential layout. One unit is currently occupied, while the other is vacant.
An additional lot is included directly behind the building. The property is located at 1 Wendel St and may be purchased individually or packaged with other nearby properties identified in the offering materials.
An additional lot is included directly behind the building. The property is located at 1 Wendel St and may be purchased individually or packaged with other nearby properties identified in the offering materials.
Key Highlights
- 2,080‑square‑foot duplex constructed in 1927
- Two residential units with one currently occupied and one vacant
- Full basement included
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 - Residential income property with a full basement, additional rear lot, and separate two-car garage.
Where is this duplex located?
The property is located at 1 Wendel St 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: 2,080‑square‑foot duplex constructed in 1927; Two residential units with one currently occupied and one vacant; Full basement included
