Duplex with Detached
For Sale
$219,900
121 60th Street, Niagara Falls, NY 14304
Two residential units offer separate layouts, sunrooms, central air, and a full basement for storage or laundry.
Property Size1,728 SF
Price / SF$127.26
Days on Market121
Property Features for 121 60th Street
General Information
Standard status
Active
Size
1,728 SF
Property subtype
Multi-Family
Property Condition
Severity
Repairs Needed
Evidence
minor cosmetic updates
Units
Unit Mix
2 x 2BR/1BA
Multifamily Units
2
Taxes and HOA fees
Annual Taxes
$5,990
Amenities
sunroom
detached garage
natural hardwood flooring
basement
Central Air, Electric, Gas, Ceiling Fan(s)
Full
3
Hardwood, Ceramic Tile, Laminate
Humidifier
Internet Connection
Asphalt
2 Garage Spaces. Paved Driveway, Garage.
Rectangular
50X193
City Road, Rectangular.
Building Details
Year Built
1910
Buildings
1
Listing Agency:
HUNT Real Estate Corporation
(716) 352-9913
Listed By:
Vincenzo Bianco
(716) 352-9913
Source:
Xome
Added: May 3
Changed: Aug 30
Last Checked: Aug 30 at 3:15PM
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 HUNT Real Estate Corporation
Investment Insights
Based on property information with market context.
This duplex contains 1,728 square feet arranged as two residential units, each with 2 bedrooms and 1 full bath. Both units include a sunroom, while interior finishes include hardwood, ceramic tile, and laminate flooring. Central air, gas, electric service, ceiling fans, and a humidifier are also present. A full basement provides storage and laundry space, and the property includes a detached garage with 2 garage spaces plus a paved driveway.
Built in 1910, the property occupies a rectangular 50X193 lot along a city road at 121 60th Street in Niagara Falls, NY 14304. The units are described as mechanically sound, with some areas identified for minor cosmetic updates. The configuration supports continued residential occupancy or rental use, subject to applicable requirements.
Built in 1910, the property occupies a rectangular 50X193 lot along a city road at 121 60th Street in Niagara Falls, NY 14304. The units are described as mechanically sound, with some areas identified for minor cosmetic updates. The configuration supports continued residential occupancy or rental use, subject to applicable requirements.
Key Highlights
- Two‑unit duplex with 2 bedrooms and 1 full bath in each unit
- 1,728 square feet on a rectangular 50X193 lot
- Detached garage with 2 garage spaces and paved driveway
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
$15,176
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
6.90%
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%
$303,520
$303.5K
Cap Rate 7%
$216,800
$216.8K
Cap Rate 9%
$168,622
$168.6K
Market Conditions
NOI Build-Up for 1,728 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
$23.2K $13.44/SF
− Vacancy
−$1.5K −$0.89/SF
EGI
$21.7K $12.55/SF
− OpEx
−$6.5K −$3.76/SF
NOI
$15.2K $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%
$303,520
Cap Rate 7%
$216,800
Cap Rate 9%
$168,622
Alternative Uses
Best Use
Multifamily LT 5
$216.8K
$189.7K – $252.9K
NOI $15,176 @ 7.0% cap · market cap 6.90%
Second Best
Apartment 5plus
$192.4K
$168.4K – $224.5K
NOI $13,470 @ 7.0% cap · market cap 6.13%
Theoretical Best
Warehouse
$1.47M
$1.28M – $1.71M
NOI $102,779 @ 7.0% cap · market cap 46.74%
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
101
Businesses Nearby
Explore this area
Business Placement
Demographics for 14304, NY
28,923
Population
13,705
Households
2.1
Avg Household Size
45
Median Age
25%
College-Educated
92%
High-School Grad
21.5 sq mi
ZIP Area
1,345
Density / Sq Mi
$64,756
Median Household Income
$42,613
Median Earnings
$901
Median Rent
$151,500
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 residential units offer separate layouts, sunrooms, central air, and a full basement for storage or laundry.
Where is this duplex located?
The property is located at 121 60th Street Niagara Falls, NY.
What is the asking price?
The asking price for this property is $219,900.
What are key features of this property?
This property features: Two‑unit duplex with 2 bedrooms and 1 full bath in each unit; 1,728 square feet on a rectangular 50X193 lot; Detached garage with 2 garage spaces and paved driveway
