Well-Maintained Duplex with
For Sale
$389,900
Pending
99 S Prince Dr, Cheektowaga, NY 14043
Impeccably maintained duplex with updated features and tenant-occupied upper unit.
Property Size2,800 SF
Days on Market95
Property Features for 99 S Prince Dr
General Information
Standard status
Pending
Size
2,800 SF
Property subtype
Multi Family
Taxes and HOA fees
Annual Taxes
$9,492
Building Details
Building Size
2,800 SF
Year Built
1972
Stories
2
Units
2
Listing Agency:
WNY METRO ROBERTS REALTY
(716) 698-9021
Listed By:
Jeannine Meinzer · License #10401326635
(716) 698-9021
Source:
Elliman
Added: May 18
Changed: Aug 15
Last Checked: Aug 19 at 10:55AM
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.
The property at 99 S Prince Dr is a well-maintained duplex. The lower unit, owner-occupied for 30 years, features 3 bedrooms and 1.5 bathrooms. The large kitchen includes granite countertops, an island, and ample cupboard space. Cathedral ceilings and crown molding accents enhance the living room's airy feel. A sliding glass door from the family room leads to a 3-season room overlooking a partially fenced yard with a tree-lined backdrop. Additional features include a partially finished basement and a 2.5-car garage. Windows were updated in 2024, and the roof was replaced in 2018. Deluxe vinyl flooring is present throughout. The upper unit is tenant-occupied on a month-to-month basis and includes kitchen appliances, with space for a washer and dryer in the basement. The property is conveniently located near stores, parks, and a library.
Key Highlights
- Impeccably maintained home, owner‑occupied for 30 years.
- Lower unit features a large, beautiful kitchen with granite countertops/island.
- Newer roof (2018) and windows (2024).**
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
$18,003
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
4.62%
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%
$360,060
$360.1K
Cap Rate 7%
$257,186
$257.2K
Cap Rate 9%
$200,033
$200.0K
Market Conditions
NOI Build-Up for 2,800 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
$38.6K $13.80/SF
− Vacancy
−$12.9K −$4.61/SF
EGI
$25.7K $9.19/SF
− OpEx
−$7.7K −$2.76/SF
NOI
$18.0K $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%
$360,060
Cap Rate 7%
$257,186
Cap Rate 9%
$200,033
Alternative Uses
Best Use
Multifamily LT 5
$257.2K
$225.0K – $300.1K
NOI $18,003 @ 7.0% cap · market cap 4.62%
Second Best
Apartment 5plus
$230.9K
$202.1K – $269.4K
NOI $16,166 @ 7.0% cap · market cap 4.15%
Theoretical Best
Office A
$612.1K
$535.6K – $714.1K
NOI $42,847 @ 7.0% cap · market cap 10.99%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
466
Businesses Nearby
Explore this area
Business Placement
Demographics for 14043, NY
24,962
Population
11,743
Households
2.1
Avg Household Size
45
Median Age
27%
College-Educated
94%
High-School Grad
9.1 sq mi
ZIP Area
2,743
Density / Sq Mi
$73,373
Median Household Income
$50,263
Median Earnings
$1,072
Median Rent
$192,800
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 - Impeccably maintained duplex with updated features and tenant-occupied upper unit.
Where is this duplex located?
The property is located at 99 S Prince Dr Cheektowaga, NY.
What is the asking price?
The asking price for this property is $389,900.
What are key features of this property?
This property features: Impeccably maintained home, owner‑occupied for 30 years.; Lower unit features a **large, beautiful kitchen with granite countertops/island.**; Newer roof (2018) and windows (2024).**
