Renovated Duplex With Two-Car
For Sale
$650,000
103 6th St, Niagara Falls, NY 14303
Updated two-unit property with short-term rental use, off-street parking, and flexible occupancy options.
Property Size3,072 SF
Days on Market10
Property Features for 103 6th St
General Information
Standard status
Active
Size
3,072 SF
Property subtype
Multi Family
Units
Unit Mix
2 x 2BR
Multifamily Units
2
Taxes and HOA fees
Annual Taxes
$2,596
Building Details
Building Size
3,072 SF
Year Built
1890
Buildings
1
Stories
2
Units
2
Listing Agency:
Iconic Real Estate
(716) 266-5805
Listed By:
Jayson Parker
(716) 266-5805
Source:
Elliman
Added: Aug 11
Changed: Aug 12
Last Checked: Aug 19 at 10:48AM
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 Iconic Real Estate
Investment Insights
Based on property information with market context.
This renovated duplex contains two updated 2-bedroom units with modern kitchens, refreshed bathrooms, and improved living areas. A custom entertainment wall with a linear fireplace adds a defined focal point to the interior. The property is currently operated as a short-term rental and also supports owner occupancy of one unit while the other generates income.
Set on a 105' × 66' corner lot at 103 6th St in Niagara Falls, the property includes a detached two-car garage and an additional driveway for off-street parking. Niagara Falls State Park, the Niagara Gorge, restaurants, entertainment, and other visitor attractions are nearby. Walk Score is 60, Bike Score is 49, and Transit Score is 30.
Set on a 105' × 66' corner lot at 103 6th St in Niagara Falls, the property includes a detached two-car garage and an additional driveway for off-street parking. Niagara Falls State Park, the Niagara Gorge, restaurants, entertainment, and other visitor attractions are nearby. Walk Score is 60, Bike Score is 49, and Transit Score is 30.
Key Highlights
- Two updated 2‑bedroom units in a renovated duplex
- Currently operating as a short‑term rental
- 105' × 66' corner lot at 103 6th St
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
$26,979
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
4.15%
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%
$539,580
$539.6K
Cap Rate 7%
$385,414
$385.4K
Cap Rate 9%
$299,767
$299.8K
Market Conditions
NOI Build-Up for 3,072 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
$41.3K $13.44/SF
− Vacancy
−$2.7K −$0.89/SF
EGI
$38.5K $12.55/SF
− OpEx
−$11.6K −$3.76/SF
NOI
$27.0K $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%
$539,580
Cap Rate 7%
$385,414
Cap Rate 9%
$299,767
Alternative Uses
Best Use
Multifamily LT 5
$385.4K
$337.2K – $449.7K
NOI $26,979 @ 7.0% cap · market cap 4.15%
Second Best
Apartment 5plus
$342.1K
$299.3K – $399.1K
NOI $23,947 @ 7.0% cap · market cap 3.68%
Theoretical Best
Warehouse
$2.61M
$2.28M – $3.05M
NOI $182,719 @ 7.0% cap · market cap 28.11%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
701
Businesses Nearby
Explore this area
Business Placement
Demographics for 14303, NY
5,958
Population
3,505
Households
1.7
Avg Household Size
38
Median Age
16%
College-Educated
82%
High-School Grad
2.7 sq mi
ZIP Area
2,207
Density / Sq Mi
$45,519
Median Household Income
$34,623
Median Earnings
$845
Median Rent
$78,200
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 - Updated two-unit property with short-term rental use, off-street parking, and flexible occupancy options.
Where is this duplex located?
The property is located at 103 6th St Niagara Falls, NY.
What is the asking price?
The asking price for this property is $650,000.
What are key features of this property?
This property features: Two updated 2‑bedroom units in a renovated duplex; Currently operating as a short‑term rental; 105' × 66' corner lot at 103 6th St
