Duplex with Private
New
For Sale
$474,900
10705 Keller Rd, Clarence, NY 14031
Two ranch-style residences offer separate entrances, flexible living arrangements, and substantial attached garage space.
Property Size2,808 SF
Days on Market3
Property Features for 10705 Keller Rd
General Information
Standard status
Active
Size
2,808 SF
Property subtype
Multi Family
Units
Unit Mix
2 x 2BR/2BA
Multifamily Units
2
Parking per Unit
2.5
Taxes and HOA fees
Annual Taxes
$6,133
Building Details
Building Size
2,808 SF
Year Built
1989
Buildings
2
Stories
1
Units
2
Construction
ranch-style
Listing Agency:
(716) 983-1768
Listed By:
David Serota
(716) 983-1768
Source:
Elliman
Added: Aug 18
Changed: Aug 19
Last Checked: Aug 19 at 8:41AM
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 David Serota
Investment Insights
Based on property information with market context.
Built in 1989, this duplex comprises two semi-attached ranch-style residences, each with a private entry, courtyard, two bedrooms, and two bathrooms. Both units include an ensuite bathroom and vaulted ceilings, while the individual layouts provide separate living spaces within one property. Each residence also has an oversized 2.5-car garage. One unit has been updated with fresh interior paint and new carpet.
The property is located at 10705 Keller Rd in Clarence, New York. Separate entrances and outdoor courtyards support independent occupancy, while the two-residence configuration allows for owner occupancy with rental income from the other unit or use by multiple members of a household. The property has a Walk Score of 9 and a Bike Score of 25.
The property is located at 10705 Keller Rd in Clarence, New York. Separate entrances and outdoor courtyards support independent occupancy, while the two-residence configuration allows for owner occupancy with rental income from the other unit or use by multiple members of a household. The property has a Walk Score of 9 and a Bike Score of 25.
Key Highlights
- Two semi‑attached ranch‑style residences in one duplex property
- Each unit includes 2 bedrooms and 2 bathrooms with an ensuite
- Private entrance and courtyard provided for each residence
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
$18,055
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
3.80%
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%
$361,100
$361.1K
Cap Rate 7%
$257,929
$257.9K
Cap Rate 9%
$200,611
$200.6K
Market Conditions
NOI Build-Up for 2,808 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
$38.8K $13.80/SF
− Vacancy
−$13.0K −$4.61/SF
EGI
$25.8K $9.19/SF
− OpEx
−$7.7K −$2.76/SF
NOI
$18.1K $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%
$361,100
Cap Rate 7%
$257,929
Cap Rate 9%
$200,611
Alternative Uses
Best Use
Multifamily LT 5
$257.9K
$225.7K – $300.9K
NOI $18,055 @ 7.0% cap · market cap 3.80%
Second Best
Apartment 5plus
$231.6K
$202.7K – $270.2K
NOI $16,212 @ 7.0% cap · market cap 3.41%
Theoretical Best
Office A
$613.8K
$537.1K – $716.2K
NOI $42,969 @ 7.0% cap · market cap 9.05%
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
11
Businesses Nearby
Explore this area
Business Placement
Demographics for 14031, NY
9,983
Population
4,539
Households
2.2
Avg Household Size
51
Median Age
51%
College-Educated
98%
High-School Grad
19.4 sq mi
ZIP Area
515
Density / Sq Mi
$99,639
Median Household Income
$59,366
Median Earnings
$930
Median Rent
$324,700
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 - Two ranch-style residences offer separate entrances, flexible living arrangements, and substantial attached garage space.
Where is this duplex located?
The property is located at 10705 Keller Rd Clarence, NY.
What is the asking price?
The asking price for this property is $474,900.
What are key features of this property?
This property features: Two semi‑attached ranch‑style residences in one duplex property; Each unit includes 2 bedrooms and 2 bathrooms with an ensuite; Private entrance and courtyard provided for each residence
