Building Details

Year Built 1920

Listing Agency: WNY Metro Roberts Realty

Listed By: Jessica Petri · License #10401361674 Show Phone

Source: Skinnercnyrealty

Added: Aug 5 Changed: Oct 5 Last Checked: Oct 7 at 5:24PM

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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

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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.

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 / Yr

$13,065

Cap Rate

4.86%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$261,300 $261.3K

Cap Rate 7%

$186,643 $186.6K

Cap Rate 9%

$145,167 $145.2K

Is this asking price fair?

Market Conditions

NOI Build-Up for 2,032 SF

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 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 (±1% cap)

NOI $13,065 @ 7.0% cap · market cap 4.86%

Second Best

Apartment 5plus

$167.6K

$146.7K – $195.5K (±1% cap)

NOI $11,732 @ 7.0% cap · market cap 4.36%

Theoretical Best

Office A

$444.2K

$388.7K – $518.2K (±1% cap)

NOI $31,094 @ 7.0% cap · market cap 11.56%

Zoning and permitted uses should be independently verified with authorities. How Realmo checks its estimates

Property Analytics

Current Use

Duplexes

Suggested Use

Top Pick Plumbing Service Building Supply Kitchen & Bath Showroom Storage Facility (Bike/Boat/Book/etc) Store Arcade & Gaming Center

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

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

4% 2022

4.6% 2023

5.3% 2024

5.6% 2025

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 $269,000.

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