Updated Duplex with 2-Car
New
For Sale
$289,000
569 French Rd, Cheektowaga, NY 14227
Two-unit property with refreshed interiors, separate basement storage, and a fenced corner lot in South Cheektowaga.
Property Size2,080 SF
Days on Market7
Property Features for 569 French Rd
General Information
Standard status
Active
Size
2,080 SF
Total Parking Spaces
2
Property subtype
Multi Family
Additional Details
Multifamily Units
2
Taxes and HOA fees
Annual Taxes
$6,318
Building Details
Building Size
2,080 SF
Year Built
1966
Buildings
1
Stories
2
Units
2
Construction
brick and vinyl-sided
Listing Agency:
WNY METRO ROBERTS REALTY
(716) 861-9232
Listed By:
Melissa Space · License #10401264382
(716) 861-9232
Source:
Elliman
Added: Aug 14
Changed: Aug 15
Last Checked: Aug 19 at 10:57AM
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.
Located at 569 French Rd in South Cheektowaga, this 1966 duplex offers refreshed interiors and updated mechanical systems across both units. Fresh paint and new LVP flooring extend through the living areas, while ceramic tile finishes both bathrooms. The lower unit includes central AC, and its furnace and hot water tank were installed in 2024. The upper unit also has replaced furnace and hot water equipment.
A full basement provides separate laundry hookups and individual lockable storage cubbies for each unit. Exterior improvements include a fully fenced corner lot, a 2-car garage, and a 10x12 shed, along with additional yard space. The property is rated Car-Dependent with a Walk Score of 14, a Bike Score of 32, and a Transit Score of 0.
A full basement provides separate laundry hookups and individual lockable storage cubbies for each unit. Exterior improvements include a fully fenced corner lot, a 2-car garage, and a 10x12 shed, along with additional yard space. The property is rated Car-Dependent with a Walk Score of 14, a Bike Score of 32, and a Transit Score of 0.
Key Highlights
- Duplex at 569 French Rd, Cheektowaga, NY 14227
- Fresh paint and new LVP flooring in living areas
- Lower‑unit furnace and hot water tank installed in 2024
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
$13,374
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
4.63%
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%
$267,480
$267.5K
Cap Rate 7%
$191,057
$191.1K
Cap Rate 9%
$148,600
$148.6K
Market Conditions
NOI Build-Up for 2,080 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
$28.7K $13.80/SF
− Vacancy
−$9.6K −$4.61/SF
EGI
$19.1K $9.19/SF
− OpEx
−$5.7K −$2.76/SF
NOI
$13.4K $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%
$267,480
Cap Rate 7%
$191,057
Cap Rate 9%
$148,600
Alternative Uses
Best Use
Multifamily LT 5
$191.1K
$167.2K – $222.9K
NOI $13,374 @ 7.0% cap · market cap 4.63%
Second Best
Apartment 5plus
$171.6K
$150.1K – $200.2K
NOI $12,009 @ 7.0% cap · market cap 4.16%
Theoretical Best
Office A
$454.7K
$397.9K – $530.5K
NOI $31,829 @ 7.0% cap · market cap 11.01%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
109
Businesses Nearby
Explore this area
Business Placement
Demographics for 14227, NY
23,130
Population
10,476
Households
2.2
Avg Household Size
48
Median Age
26%
College-Educated
95%
High-School Grad
8.2 sq mi
ZIP Area
2,821
Density / Sq Mi
$67,349
Median Household Income
$46,627
Median Earnings
$1,084
Median Rent
$190,400
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 - Two-unit property with refreshed interiors, separate basement storage, and a fenced corner lot in South Cheektowaga.
Where is this duplex located?
The property is located at 569 French Rd Cheektowaga, NY.
What is the asking price?
The asking price for this property is $289,000.
What are key features of this property?
This property features: Duplex at 569 French Rd, Cheektowaga, NY 14227; Fresh paint and new LVP flooring in living areas; Lower‑unit furnace and hot water tank installed in 2024
