Character-Rich Duplex with Private
For Sale
$400,000
39 Laverack Ave, Lancaster, NY 14043
Well-maintained two-unit property with separate outdoor areas, garage parking, in-unit laundry, and updated kitchens.
Property Size2,682 SF
Days on Market8
Property Features for 39 Laverack Ave
General Information
Standard status
Active
Size
2,682 SF
Total Parking Spaces
2
Property subtype
Multi Family
Units
Unit Mix
2 x 3BR/1BA
Multifamily Units
2
Taxes and HOA fees
Annual Taxes
$8,264
Amenities
private yard
laundry
central air
patio
privacy fence
Building Details
Building Size
2,682 SF
Year Built
1929
Buildings
1
Stories
2
Units
2
Listing Agency:
(716) 687-0878
Listed By:
Jaynemarie Manley
(716) 687-0878
Source:
Elliman
Added: Aug 13
Changed: Aug 14
Last Checked: Aug 19 at 11:47AM
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 Jaynemarie Manley
Investment Insights
Based on property information with market context.
Built in 1929, this duplex offers two 3-bedroom, 1-bath residences with separate outdoor areas and individual portions of a 2-car garage. The lower unit combines 10-foot ceilings, hardwood floors, crown molding, antique-style lighting, and a living and dining room reflecting the building’s former storefront and tailor-shop use. Its kitchen includes a gas stove, dishwasher, refrigerator, and microwave, while central air serves the unit.
The upper residence features hardwood floors with painted border detailing, abundant natural light, and an updated kitchen with tile finishes, a large island, coffee bar, gas stove, convection oven, dishwasher, refrigerator, microwave, and range hood. Both units include washers and dryers, and vinyl windows are installed throughout. Additional improvements include updated electrical services, a furnace and boiler installed in 2025, an upper hot water tank from 2022, and chimney repointing completed in 2022. The lower unit also provides access to a landscaped backyard, stamped-concrete patio, and privacy-fenced outdoor area.
The upper residence features hardwood floors with painted border detailing, abundant natural light, and an updated kitchen with tile finishes, a large island, coffee bar, gas stove, convection oven, dishwasher, refrigerator, microwave, and range hood. Both units include washers and dryers, and vinyl windows are installed throughout. Additional improvements include updated electrical services, a furnace and boiler installed in 2025, an upper hot water tank from 2022, and chimney repointing completed in 2022. The lower unit also provides access to a landscaped backyard, stamped-concrete patio, and privacy-fenced outdoor area.
Key Highlights
- Two 3‑bedroom, 1‑bath units in a duplex built in 1929
- Each residence has private yard space and half of the 2‑car garage
- Lower unit features 10‑foot ceilings, hardwood floors, crown molding, and central air
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
$17,244
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
4.31%
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%
$344,880
$344.9K
Cap Rate 7%
$246,343
$246.3K
Cap Rate 9%
$191,600
$191.6K
Market Conditions
NOI Build-Up for 2,682 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
$37.0K $13.80/SF
− Vacancy
−$12.4K −$4.61/SF
EGI
$24.6K $9.19/SF
− OpEx
−$7.4K −$2.76/SF
NOI
$17.2K $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%
$344,880
Cap Rate 7%
$246,343
Cap Rate 9%
$191,600
Alternative Uses
Best Use
Multifamily LT 5
$246.3K
$215.6K – $287.4K
NOI $17,244 @ 7.0% cap · market cap 4.31%
Second Best
Apartment 5plus
$221.2K
$193.6K – $258.1K
NOI $15,485 @ 7.0% cap · market cap 3.87%
Theoretical Best
Office A
$586.3K
$513.0K – $684.0K
NOI $41,041 @ 7.0% cap · market cap 10.26%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
568
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
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Duplex - Well-maintained two-unit property with separate outdoor areas, garage parking, in-unit laundry, and updated kitchens.
Where is this duplex located?
The property is located at 39 Laverack Ave Lancaster, NY.
What is the asking price?
The asking price for this property is $400,000.
What are key features of this property?
This property features: Two 3‑bedroom, 1‑bath units in a duplex built in 1929; Each residence has private yard space and half of the 2‑car garage; Lower unit features 10‑foot ceilings, hardwood floors, crown molding, and central air
