Duplex with Covered Front
For Sale
$229,900
Pending
10 Orchard Place, Lackawanna, NY 14218
Each unit includes two bedrooms, a full bath, living room, and eat-in kitchen.
Property Size1,680 SF
Days on Market61
Property Features for 10 Orchard Place
General Information
Standard status
Pending
Size
1,680 SF
Property subtype
Multi Family
Taxes and HOA fees
Annual Taxes
$5,820
Amenities
covered front porch
fully fenced back yard
basement storage
garage storage
double laundry hookups
walk-out doors
Building Details
Building Size
1,680 SF
Year Built
1950
Buildings
1
Tenancy
Multi
Listing Agency:
HUNT Real Estate ERA
Listed By:
Barbara A Roy · License #40RO1171245
(716) 208-1103
Source:
Highfallssir
Added: Jul 29
Changed: Sep 19
Last Checked: Sep 26 at 1:25PM
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 ERA
Investment Insights
Based on property information with market context.
Built in 1950, this duplex contains two apartments, each with 2 bedrooms, a full bath, bright living room, and eat-in kitchen. Both units open to a covered front porch, while the fully fenced backyard provides additional outdoor space. Separate gas and electric utilities serve each unit.
The basement adds storage, double laundry hookups, and walk-out doors. A garage provides additional storage, and the overhead garage door, opener, and keypad have been updated. Property updates include two furnaces approximately 1.5 and 8 years old, an 8-year-old roof, and a lower HWT that is 5 years old. Located at 10 Orchard Pl in Lackawanna, the property has a Walk Score of 65, a Bike Score of 56, and a Transit Score of 31.
The basement adds storage, double laundry hookups, and walk-out doors. A garage provides additional storage, and the overhead garage door, opener, and keypad have been updated. Property updates include two furnaces approximately 1.5 and 8 years old, an 8-year-old roof, and a lower HWT that is 5 years old. Located at 10 Orchard Pl in Lackawanna, the property has a Walk Score of 65, a Bike Score of 56, and a Transit Score of 31.
Key Highlights
- Two‑unit duplex built in 1950
- Each unit has 2 bedrooms, a full bath, living room, and eat‑in kitchen
- Covered front porch and fully fenced backyard
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
$16,670
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
7.25%
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%
$333,400
$333.4K
Cap Rate 7%
$238,143
$238.1K
Cap Rate 9%
$185,222
$185.2K
Market Conditions
NOI Build-Up for 1,680 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
$25.2K $15.00/SF
− Vacancy
−$1.4K −$0.83/SF
EGI
$23.8K $14.17/SF
− OpEx
−$7.1K −$4.25/SF
NOI
$16.7K $9.92/SF
Area
Buffalo, NY
Vacancy
5.50%
Lease Rate
$15.00 /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%
$333,400
Cap Rate 7%
$238,143
Cap Rate 9%
$185,222
Alternative Uses
Best Use
Multifamily LT 5
$238.1K
$208.4K – $277.8K
NOI $16,670 @ 7.0% cap · market cap 7.25%
Second Best
Apartment 5plus
$219.3K
$191.9K – $255.9K
NOI $15,354 @ 7.0% cap · market cap 6.68%
Theoretical Best
Office A
$404.0K
$353.5K – $471.3K
NOI $28,280 @ 7.0% cap · market cap 12.30%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
478
Businesses Nearby
Explore this area
Business Placement
Demographics for 14218, NY
20,878
Population
9,478
Households
2.2
Avg Household Size
38
Median Age
21%
College-Educated
88%
High-School Grad
8.1 sq mi
ZIP Area
2,578
Density / Sq Mi
$50,484
Median Household Income
$36,457
Median Earnings
$829
Median Rent
$135,000
Median Home Value
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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 - Each unit includes two bedrooms, a full bath, living room, and eat-in kitchen.
Where is this duplex located?
The property is located at 10 Orchard Place Lackawanna, NY.
What is the asking price?
The asking price for this property is $229,900.
What are key features of this property?
This property features: Two‑unit duplex built in 1950; Each unit has 2 bedrooms, a full bath, living room, and eat‑in kitchen; Covered front porch and fully fenced backyard
