Updated Side-by-Side
For Sale
$309,900
Pending
25 Sheldon Ave, Lancaster, NY 14043
Impeccably updated side-by-side duplex with two separate residences, including fenced patio access and off-street parking.
Property Size2,296 SF
Days on Market28
Property Features for 25 Sheldon Ave
General Information
Standard status
Pending
Size
2,296 SF
Total Parking Spaces
2
Property subtype
Multi Family
Additional Details
Gross Income
$32,400
Taxes and HOA fees
Annual Taxes
$5,182
Amenities
private fenced patio
common green space
white picket fencing
Building Details
Building Size
2,296 SF
Year Built
1836
Buildings
1
Stories
2
Units
2
Tenancy
Multi
Listing Agency:
Keller Williams Realty Lancaster
(716) 989-7440
Listed By:
Timothy D Maciejewski · License #10301217558
(716) 989-7440
Source:
Elliman
Added: Jul 28
Changed: Aug 8
Last Checked: Aug 24 at 9:52AM
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 Keller Williams Realty Lancaster
Investment Insights
Based on property information with market context.
This side-by-side duplex has been updated and maintained, offering two separate units with modern finishes. The property includes a spacious 3-bedroom, 1.5-bath unit and a 2-bedroom, 1.5-bath unit, both described as move-in ready. Each apartment features white shaker kitchen cabinetry with stainless steel appliances included, updated bathrooms, contemporary flooring, recessed lighting, and a bright neutral color palette. The 3-bedroom unit also has exclusive access to a private, fully fenced patio, and there is an expansive side yard for shared outdoor enjoyment. A detached two-car garage and ample off-street parking complete the exterior improvements.
The duplex is located in the Lancaster Central School District. The property is tenant occupied, and 48-hour notice is required for all showings. Select interior photographs have been virtually staged to illustrate the layout.
The duplex is located in the Lancaster Central School District. The property is tenant occupied, and 48-hour notice is required for all showings. Select interior photographs have been virtually staged to illustrate the layout.
Key Highlights
- Side‑by‑side duplex built in 1836 with 2,296 SF total living space
- Two units: a 3‑bedroom, 1.5‑bath unit and a 2‑bedroom, 1.5‑bath unit
- Currently generates $2,700/month in rental income
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
$14,763
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
4.76%
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%
$295,260
$295.3K
Cap Rate 7%
$210,900
$210.9K
Cap Rate 9%
$164,033
$164.0K
Market Conditions
NOI Build-Up for 2,296 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
$31.7K $13.80/SF
− Vacancy
−$10.6K −$4.61/SF
EGI
$21.1K $9.19/SF
− OpEx
−$6.3K −$2.76/SF
NOI
$14.8K $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 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%
$295,260
Cap Rate 7%
$210,900
Cap Rate 9%
$164,033
Alternative Uses
Best Use
Multifamily LT 5
$210.9K
$184.5K – $246.1K
NOI $14,763 @ 7.0% cap · market cap 4.76%
Second Best
Apartment 5plus
$189.4K
$165.7K – $220.9K
NOI $13,256 @ 7.0% cap · market cap 4.28%
Theoretical Best
Office A
$501.9K
$439.2K – $585.6K
NOI $35,134 @ 7.0% cap · market cap 11.34%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
313
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 updated side-by-side duplex with two separate residences, including fenced patio access and off-street parking.
Where is this duplex located?
The property is located at 25 Sheldon Ave Lancaster, NY.
What is the asking price?
The asking price for this property is $309,900.
What are key features of this property?
This property features: Side‑by‑side duplex built in 1836 with 2,296 SF total living space; Two units: a 3‑bedroom, 1.5‑bath unit and a 2‑bedroom, 1.5‑bath unit; Currently generates $2,700/month in rental income
