Upper/Lower Two-Unit
For Sale
$279,000
12050 Savage Road, Chaffee, NY 14030
Each apartment includes two bedrooms, one full bathroom, and a living room within a practical residential layout.
Property Size2,032 SF
Days on Market35
Property Features for 12050 Savage Road
General Information
Standard status
Active
Size
2,032 SF
Property subtype
Multi Family Home
Additional Details
Multifamily Units
2
Taxes and HOA fees
Annual Taxes
$2,721
Building Details
Building Size
2,032 SF
Year Built
1920
Stories
2
Units
2
Listing Agency:
WNY Metro Roberts Realty
(716) 498-1330
Listed By:
Jessica Petri · License #10401361674
(716) 498-1330
Source:
Wcirealty
Added: Jul 29
Changed: Aug 31
Last Checked: Aug 4 at 8:17AM
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.
Built in 1920, this two-unit residential property is arranged with one apartment above the other. Both units include two bedrooms, one full bathroom, and a living room, providing a consistent layout across the building. The configuration supports separate occupancy of each apartment and offers flexibility for an owner-occupant or residential income use.
Property updates include replacement windows installed 4 years ago and a roof installed 8 years ago. The duplex is located at 12050 Savage Road in Chaffee, NY, with Springville approximately 10 minutes away and Arcade approximately 8 minutes away.
Property updates include replacement windows installed 4 years ago and a roof installed 8 years ago. The duplex is located at 12050 Savage Road in Chaffee, NY, with Springville approximately 10 minutes away and Arcade approximately 8 minutes away.
Key Highlights
- Upper/lower duplex configuration with 2 separate apartments
- Each unit includes 2 bedrooms, 1 full bathroom, and a living room
- Built in 1920
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 - Each apartment includes two bedrooms, one full bathroom, and a living room within a practical residential layout.
Where is this duplex located?
The property is located at 12050 Savage Road 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: Upper/lower duplex configuration with 2 separate apartments; Each unit includes 2 bedrooms, 1 full bathroom, and a living room; Built in 1920
