Updated Two-Unit
For Sale
$279,000
12050 Savage Rd, Chaffee, NY 14030
Upper and lower apartments feature matching two-bedroom layouts with recent window and roof improvements.
Property Size2,032 SF
Price / SF$137.30
Days on Market25
Property Features for 12050 Savage Rd
General Information
Standard status
Active
Size
2,032 SF
Property subtype
Multi-Family
Units
Unit Mix
2 x 2BR/1BA
Multifamily Units
2
Building Details
Year Built
1920
Listing Agency:
WNY Metro Roberts Realty
(716) 498-1330
Listed By:
Jessica Petri · License #10401361674
Source:
Skinnercnyrealty
Added: Aug 5
Changed: Aug 28
Last Checked: Aug 29 at 11:35AM
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 WNY Metro Roberts Realty
Investment Insights
Based on property information with market context.
This upper-and-lower duplex contains 2,032 square feet and was built in 1920. Each apartment includes two bedrooms, one full bathroom, a living room, and a practical floor plan. Recent improvements include windows installed 4 years ago and a roof replaced 8 years ago.
The property is located at 12050 Savage Rd in Chaffee, NY, approximately 10 minutes from Springville and 8 minutes from Arcade. Both apartments are configured for residential occupancy, allowing the property to support rental use in each unit or an owner-occupant arrangement with one apartment occupied by the owner and the other rented.
The property is located at 12050 Savage Rd in Chaffee, NY, approximately 10 minutes from Springville and 8 minutes from Arcade. Both apartments are configured for residential occupancy, allowing the property to support rental use in each unit or an owner-occupant arrangement with one apartment occupied by the owner and the other rented.
Key Highlights
- Two‑unit upper‑and‑lower duplex with 2,032 square feet
- Each unit includes 2 bedrooms, 1 full bathroom, and a living room
- New windows installed 4 years ago
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
$13,065
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
4.68%
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%
$261,300
$261.3K
Cap Rate 7%
$186,643
$186.6K
Cap Rate 9%
$145,167
$145.2K
Market Conditions
NOI Build-Up for 2,032 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
$28.0K $13.80/SF
− Vacancy
−$9.4K −$4.61/SF
EGI
$18.7K $9.19/SF
− OpEx
−$5.6K −$2.76/SF
NOI
$13.1K $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%
$261,300
Cap Rate 7%
$186,643
Cap Rate 9%
$145,167
Alternative Uses
Best Use
Multifamily LT 5
$186.6K
$163.3K – $217.8K
NOI $13,065 @ 7.0% cap · market cap 4.68%
Second Best
Apartment 5plus
$167.6K
$146.7K – $195.5K
NOI $11,732 @ 7.0% cap · market cap 4.21%
Theoretical Best
Office A
$444.2K
$388.7K – $518.2K
NOI $31,094 @ 7.0% cap · market cap 11.14%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
14
Businesses Nearby
Explore this area
Business Placement
Demographics for 14030, NY
1,755
Population
791
Households
2.2
Avg Household Size
48
Median Age
19%
College-Educated
89%
High-School Grad
21.2 sq mi
ZIP Area
83
Density / Sq Mi
$84,792
Median Household Income
$49,069
Median Earnings
$743
Median Rent
$204,100
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 - Upper and lower apartments feature matching two-bedroom layouts with recent window and roof improvements.
Where is this duplex located?
The property is located at 12050 Savage Rd Chaffee, NY.
What is the asking price?
The asking price for this property is $279,000.
What are key features of this property?
This property features: Two‑unit upper‑and‑lower duplex with 2,032 square feet; Each unit includes 2 bedrooms, 1 full bathroom, and a living room; New windows installed 4 years ago
