Side-by-Side Duplex with Central
For Sale
$349,000
Pending
3 Greenwood Cir, North Tonawanda, NY 14120
Well-maintained 2002 duplex with two 2-bedroom units, separate utilities, central air, basement laundry, and a 2-car garage.
Property Size2,256 SF
Days on Market84
Property Features for 3 Greenwood Cir
General Information
Standard status
Pending
Size
2,256 SF
Total Parking Spaces
2
Property subtype
Multi Family
Additional Details
Multifamily Units
2
Taxes and HOA fees
Annual Taxes
$7,574
Building Details
Building Size
2,256 SF
Year Built
2002
Stories
2
Units
2
Tenancy
Multi
Listing Agency:
WNY METRO ROBERTS REALTY
Listed By:
Annmarie Mermigas · License #10401275280
(716) 866-2568
Source:
Elliman
Added: Jun 14
Changed: Sep 4
Last Checked: Sep 5 at 7:33AM
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 2002, this well-maintained side-by-side duplex offers two spacious, matching units. Each unit features two bedrooms, one full bathroom, and a bright open-concept layout with a living area, dining space, and a functional kitchen. Both units have separate utilities and central air conditioning, supporting convenient day-to-day operation and tenant comfort. A full shared basement provides laundry facilities and ample storage, and the property includes a 2-car garage. All appliances are included, which can simplify move-in or turnover.
Located at 3 Greenwood Cir in North Tonawanda, NY 14120, the property is offered for sale by open house this Saturday (Jun 13) from 11:00 AM to 1:00 PM. With both walk and bike scores noted in the remarks (57 and 54, respectively), the setting may appeal to occupants who prefer areas with basic accessibility.
This configuration can suit buyers seeking an income-generating residential property with two self-contained units and independent utilities. The shared basement adds practical common support for laundry and storage, while the garage helps with parking needs. For owner-occupants, the duplex also offers the flexibility to live in one side while renting the other, supported by the unit separation and included appliances.
Located at 3 Greenwood Cir in North Tonawanda, NY 14120, the property is offered for sale by open house this Saturday (Jun 13) from 11:00 AM to 1:00 PM. With both walk and bike scores noted in the remarks (57 and 54, respectively), the setting may appeal to occupants who prefer areas with basic accessibility.
This configuration can suit buyers seeking an income-generating residential property with two self-contained units and independent utilities. The shared basement adds practical common support for laundry and storage, while the garage helps with parking needs. For owner-occupants, the duplex also offers the flexibility to live in one side while renting the other, supported by the unit separation and included appliances.
Key Highlights
- Side‑by‑side duplex built in 2002 with two separate 2‑bedroom, 1‑bath units
- Open‑concept living, dining, and kitchen layout in each unit
- Separate utilities for both units plus central air conditioning in each unit
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
$19,813
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
5.68%
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%
$396,260
$396.3K
Cap Rate 7%
$283,043
$283.0K
Cap Rate 9%
$220,144
$220.1K
Market Conditions
NOI Build-Up for 2,256 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
$30.3K $13.44/SF
− Vacancy
−$2.0K −$0.89/SF
EGI
$28.3K $12.55/SF
− OpEx
−$8.5K −$3.76/SF
NOI
$19.8K $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%
$396,260
Cap Rate 7%
$283,043
Cap Rate 9%
$220,144
Alternative Uses
Best Use
Multifamily LT 5
$283.0K
$247.7K – $330.2K
NOI $19,813 @ 7.0% cap · market cap 5.68%
Second Best
Apartment 5plus
$251.2K
$219.8K – $293.1K
NOI $17,586 @ 7.0% cap · market cap 5.04%
Theoretical Best
Warehouse
$1.92M
$1.68M – $2.24M
NOI $134,184 @ 7.0% cap · market cap 38.45%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
348
Businesses Nearby
Explore this area
Business Placement
Demographics for 14120, NY
44,538
Population
20,367
Households
2.2
Avg Household Size
45
Median Age
30%
College-Educated
94%
High-School Grad
32.6 sq mi
ZIP Area
1,366
Density / Sq Mi
$76,608
Median Household Income
$47,014
Median Earnings
$932
Median Rent
$205,300
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 - Well-maintained 2002 duplex with two 2-bedroom units, separate utilities, central air, basement laundry, and a 2-car garage.
Where is this duplex located?
The property is located at 3 Greenwood Cir North Tonawanda, NY.
What is the asking price?
The asking price for this property is $349,000.
What are key features of this property?
This property features: Side‑by‑side duplex built in 2002 with two separate 2‑bedroom, 1‑bath units; Open‑concept living, dining, and kitchen layout in each unit; Separate utilities for both units plus central air conditioning in each unit
