Updated Two-Unit Residential
For Sale
$289,900
Pending
134 Woodlawn Ave, Lancaster, NY 14043
Two renovated units offer separate washer/dryer hookups, off-street parking, and a fenced yard with patio.
Property Size2,146 SF
Days on Market89
Property Features for 134 Woodlawn Ave
General Information
Standard status
Pending
Size
2,146 SF
Total Parking Spaces
2
Property subtype
Multi Family
Site & Location
Highway Access
Yes
Fenced Yard
Yes
Additional Details
Multifamily Units
2
Taxes and HOA fees
Annual Taxes
$6,885
Building Details
Building Size
2,146 SF
Year Built
1949
Units
2
Listing Agency:
WNY METRO ROBERTS REALTY
Listed By:
Ryan Burke · License #10301222154
(716) 572-2848
Source:
Elliman
Added: Jul 9
Changed: Sep 27
Last Checked: Oct 5 at 5:59PM
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.
This updated two-unit duplex features a spacious 3-bedroom lower unit and a 2-bedroom upper unit. The lower unit includes hardwood flooring and an eat-in kitchen with a large center island, while the upper unit has luxury vinyl flooring. Both units have updated kitchens with modern cabinetry and remodeled bathrooms with tiled tub surrounds. Separate washer and dryer hookups are provided for each unit in the basement. Outdoor amenities include a fully fenced backyard with a patio, plus a detached 2-car garage and ample off-street parking. A roof replacement was completed in 2011.
The property is located in the Village of Depew within the Depew School District. It is positioned close to shopping, restaurants, parks, and major commuter routes.
As presented, the property is move-in ready, with the upper unit to be delivered vacant at closing. The property is currently generating rental income of $3,070 per month.
The property is located in the Village of Depew within the Depew School District. It is positioned close to shopping, restaurants, parks, and major commuter routes.
As presented, the property is move-in ready, with the upper unit to be delivered vacant at closing. The property is currently generating rental income of $3,070 per month.
Key Highlights
- Two‑unit property built in 1949 with updated interiors and upper unit to be delivered vacant at closing
- Rental income currently totals $3,070 per month (3‑bedroom lower unit and 2‑bedroom upper unit)
- Renovated kitchens and remodeled bathrooms: updated kitchen cabinetry and tiled tub surrounds in both units
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$13,798
Cap Rate
4.76%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$275,960
$276.0K
Cap Rate 7%
$197,114
$197.1K
Cap Rate 9%
$153,311
$153.3K
Market Conditions
NOI Build-Up for 2,146 SF
Gross rent
$29.6K $13.80/SF
− Vacancy
−$9.9K −$4.61/SF
EGI
$19.7K $9.19/SF
− OpEx
−$5.9K −$2.76/SF
NOI
$13.8K $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%
$275,960
Cap Rate 7%
$197,114
Cap Rate 9%
$153,311
Alternative Uses
Best Use
Multifamily LT 5
$197.1K
$172.5K – $230.0K
NOI $13,798 @ 7.0% cap · market cap 4.76%
Second Best
Apartment 5plus
$177.0K
$154.9K – $206.5K
NOI $12,390 @ 7.0% cap · market cap 4.27%
Theoretical Best
Office A
$469.1K
$410.5K – $547.3K
NOI $32,839 @ 7.0% cap · market cap 11.33%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
2
Residential units
Yes
Fenced yard
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
517
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
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Market
Vacancy Rate% for Multifamily in Northeast region
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Frequently Asked Questions
What type of property is this?
Duplex - Two renovated units offer separate washer/dryer hookups, off-street parking, and a fenced yard with patio.
Where is this duplex located?
The property is located at 134 Woodlawn Ave Lancaster, NY.
What is the asking price?
The asking price for this property is $289,900.
What are key features of this property?
This property features: Two‑unit property built in 1949 with updated interiors and upper unit to be delivered vacant at closing; Rental income currently totals $3,070 per month (3‑bedroom lower unit and 2‑bedroom upper unit); Renovated kitchens and remodeled bathrooms: updated kitchen cabinetry and tiled tub surrounds in both units
