Duplex with Detached
For Sale
$289,900
1115 Seneca Creek Rd, West Seneca, NY 14224
Upper and lower living areas support flexible multigenerational or rental arrangements on a spacious residential parcel.
Property Size2,156 SF
Days on Market10
Property Features for 1115 Seneca Creek Rd
General Information
Standard status
Active
Size
2,156 SF
Total Parking Spaces
2
Property subtype
Multi Family
Property Condition
Severity
Repairs Needed
Evidence
small projects
Additional Details
Utilities to Site
Yes
Taxes and HOA fees
Annual Taxes
$6,622
Amenities
fenced backyard
open-air front porch
full basement
laundry hook-up
Building Details
Building Size
2,156 SF
Year Built
1948
Units
2
Construction
Cape Cod
Listing Agency:
(585) 307-2525
Listed By:
Brett Moog
(585) 307-2525
Source:
Elliman
Added: Aug 13
Changed: Aug 14
Last Checked: Aug 22 at 8:50AM
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 Brett Moog
Investment Insights
Based on property information with market context.
This 1948 duplex-style residence offers 3 bedrooms and 2 bathrooms across upper and lower living areas. The layout is currently arranged for multigenerational use and may also accommodate separate rental spaces, owner occupancy, or a single-family configuration. Both levels connect through a shared rear foyer, while the first floor opens to a covered front porch.
The property occupies more than half an acre at 1115 Seneca Creek Rd in West Seneca, NY, with a fully fenced rear yard and additional land extending beyond the fence. A paved driveway includes a turnaround and leads to a detached two-car garage suitable for parking, storage, or projects. The full basement contains the utilities, shared storage access, and laundry hookups. The property is offered as-is.
The property occupies more than half an acre at 1115 Seneca Creek Rd in West Seneca, NY, with a fully fenced rear yard and additional land extending beyond the fence. A paved driveway includes a turnaround and leads to a detached two-car garage suitable for parking, storage, or projects. The full basement contains the utilities, shared storage access, and laundry hookups. The property is offered as-is.
Key Highlights
- 3BR, 2BA duplex‑style residence built in 1948
- Upper and lower living areas arranged for multigenerational use
- More than half an acre with a fully fenced rear yard
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
$21,393
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
7.38%
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%
$427,860
$427.9K
Cap Rate 7%
$305,614
$305.6K
Cap Rate 9%
$237,700
$237.7K
Market Conditions
NOI Build-Up for 2,156 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
$32.3K $15.00/SF
− Vacancy
−$1.8K −$0.83/SF
EGI
$30.6K $14.17/SF
− OpEx
−$9.2K −$4.25/SF
NOI
$21.4K $9.92/SF
Area
Buffalo, NY
Vacancy
5.50%
Lease Rate
$15.00 /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%
$427,860
Cap Rate 7%
$305,614
Cap Rate 9%
$237,700
Alternative Uses
Best Use
Multifamily LT 5
$305.6K
$267.4K – $356.6K
NOI $21,393 @ 7.0% cap · market cap 7.38%
Second Best
Apartment 5plus
$281.5K
$246.3K – $328.4K
NOI $19,704 @ 7.0% cap · market cap 6.80%
Theoretical Best
Office A
$518.5K
$453.7K – $604.9K
NOI $36,293 @ 7.0% cap · market cap 12.52%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
44
Businesses Nearby
Explore this area
Business Placement
Demographics for 14224, NY
40,736
Population
19,286
Households
2.1
Avg Household Size
46
Median Age
33%
College-Educated
95%
High-School Grad
20.2 sq mi
ZIP Area
2,017
Density / Sq Mi
$76,250
Median Household Income
$49,824
Median Earnings
$1,077
Median Rent
$219,800
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 - Upper and lower living areas support flexible multigenerational or rental arrangements on a spacious residential parcel.
Where is this duplex located?
The property is located at 1115 Seneca Creek Rd West Seneca, 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: 3BR, 2BA duplex‑style residence built in 1948; Upper and lower living areas arranged for multigenerational use; More than half an acre with a fully fenced rear yard
