Updated Duplex with Attached Two-Car
New
For Sale
$324,900
13 Banner Avenue, Lancaster, NY 14086
MULTI_FAMILY - Other - Lancaster, NY
Property Size1,820 SF
Lot Size0.23 Acres
Price / SF$178.52
Days on Market2
Property Features for 13 Banner Avenue
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Bedrooms
4
Bathrooms
2
Full bathrooms
2
Rooms
Bedroom 1, Bedroom 3, Bathroom 1, Bedroom 4, Basement, Bathroom 2, Bedroom 2
Parking features
Open
Appliances
GasWaterHeater
Subdivision
Baithaser Sub
Lot features
Rectangular, Rectangular Lot, Residential Lot
Middle school
Lancaster Middle
High school
Lancaster High
Elementary school district
Lancaster
Middle school district
Lancaster
High school district
Lancaster
Directions
Transit Road to Broadway. North on Central . Turn Right on Erie Street and Left on Banner.
Standard status
Active
APN
145203-104-160-0009-026-000
Size
1,820 SF
Lot size
0.23 Acres
Taxes and HOA fees
Tax Annual Amount
6753
Utilities
Heating system
Forced Air, Natural Gas
Water source
Public
Amenities
basement
common area
backyard
laundry hookups
Building Details
Year built
1975
Floors in Building
2
Number of units
2
Flooring type
Carpet, Vinyl, Varies
Building materials
CompositeSiding
Roof type
Shingle
Architectural style
Other
Listing Agency:
Keller Williams Realty WNY
(716) 832-3300
Listed By:
Dalton Reynolds · License #10401342408
(716) 352-8679
Added: Jul 30
Last Checked: Jul 31 at 5:06PM
MLS# B1702733
Copyright © 2026 New York State Alliance of MLSs, LLC. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
13 Banner Avenue is a well maintained duplex built in 1975, offering two separate living units with practical in-unit features. Each apartment includes a large eat-in kitchen, updated bathroom space, and separate laundry hookups, with separate utilities for each unit. The property also has a clean, dry basement with updated furnaces, along with an inviting, updated common area.
The duplex sits on a 0.2259-acre lot and includes an attached two-car garage with convenient access to the backyard. Outside, there is a large backyard suitable for relaxing or entertaining.
Recent updates include new kitchens in both the upper and lower units (2023), a fully remodeled upper bathroom (2023), and a roof that is approximately six years old. All kitchen appliances are included with the sale, and the building exterior includes composite siding. The property is serviced by public water and uses natural gas forced-air heating.
The duplex sits on a 0.2259-acre lot and includes an attached two-car garage with convenient access to the backyard. Outside, there is a large backyard suitable for relaxing or entertaining.
Recent updates include new kitchens in both the upper and lower units (2023), a fully remodeled upper bathroom (2023), and a roof that is approximately six years old. All kitchen appliances are included with the sale, and the building exterior includes composite siding. The property is serviced by public water and uses natural gas forced-air heating.
Key Highlights
- Two 910 square foot apartments with separate laundry hookups
- Separate utilities for each unit
- New kitchens in both units (2023) plus fully remodeled upper bathroom (2023)
Financial Insights For Multifamily LT 5
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $25.1k | $13.80 |
| − Vacancy | −$8.4k | −$4.61 |
| EGI | $16.7k | $9.19 |
| − OpEx | −$5.0k | −$2.76 |
| NOI | $11.7k | $6.43 |
1,820 SF · lease $13.80/SF/yr · vacancy 33.44% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$167.2K
$146.3K – $195.0K
NOI $11,702 @ 7.0% cap · market cap 3.60%
Second Best
Apartment 5plus
$150.1K
$131.4K – $175.1K
NOI $10,508 @ 7.0% cap · market cap 3.23%
Theoretical Best
Office A
$397.9K
$348.1K – $464.2K
NOI $27,850 @ 7.0% cap · market cap 8.57%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Multi-tenant
Tenancy
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
470
Businesses Nearby
Explore this area
Business Placement
Demographics for 14086, NY
35,010
Population
15,486
Households
2.3
Avg Household Size
44
Median Age
39%
College-Educated
95%
High-School Grad
33.3 sq mi
ZIP Area
1,051
Density / Sq Mi
$95,949
Median Household Income
$53,164
Median Earnings
$983
Median Rent
$263,600
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 - Updated duplex with separate laundry hookups and separate utilities, plus an attached two-car garage and remodeled interiors.
Where is this duplex located?
The property is located at 13 Banner Avenue Lancaster, NY.
What is the asking price?
The asking price for this property is $324,900.
What are key features of this property?
This property features: Two 910 square foot apartments with separate laundry hookups; Separate utilities for each unit; New kitchens in both units (2023) plus fully remodeled upper bathroom (2023)
