Updated Two-Unit
For Sale
$309,900
Pending
6178 McKinley Pkwy, Hamburg, NY 14075
Upper and lower residences offer separate living spaces with central air and forced-air heat.
Property Size2,000 SF
Days on Market46
Property Features for 6178 McKinley Pkwy
General Information
Standard status
Pending
Size
2,000 SF
Property subtype
Multi-Family
Units
Unit Mix
2 x 2BR/1BA
Multifamily Units
2
Amenities
forced air heating
central air conditioning
Building Details
Year Built
1941
Buildings
1
Listing Agency:
Keller Williams Realty Lancaster
(716) 218-0488
Listed By:
Melissa Ann Liberatore · License #10401271191
Source:
Thejoshjamesteam
Added: Jul 18
Changed: Aug 31
Last Checked: Aug 31 at 7:21PM
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 upper-and-lower duplex contains 2,000 square feet with two separate residences, each offering 2 bedrooms and 1 full bath. Kitchens and bathrooms have been updated, while forced-air heating and central air conditioning serve both units. The layout supports distinct household spaces within one income property.
Set on a large lot in Hamburg, the property includes a turnaround driveway, ample parking, and a detached two-car garage. Each unit has its own garage space, and the garage is fitted with newer doors. The home was built in 1941 and is positioned near shopping, dining, and major routes.
Set on a large lot in Hamburg, the property includes a turnaround driveway, ample parking, and a detached two-car garage. Each unit has its own garage space, and the garage is fitted with newer doors. The home was built in 1941 and is positioned near shopping, dining, and major routes.
Key Highlights
- Two‑unit upper/lower duplex with 2,000 square feet
- Each unit includes 2 bedrooms and 1 full bath
- Updated kitchens and bathrooms in both residences
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
$12,859
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
4.15%
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%
$257,180
$257.2K
Cap Rate 7%
$183,700
$183.7K
Cap Rate 9%
$142,878
$142.9K
Market Conditions
NOI Build-Up for 2,000 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
$27.6K $13.80/SF
− Vacancy
−$9.2K −$4.61/SF
EGI
$18.4K $9.19/SF
− OpEx
−$5.5K −$2.76/SF
NOI
$12.9K $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%
$257,180
Cap Rate 7%
$183,700
Cap Rate 9%
$142,878
Alternative Uses
Best Use
Multifamily LT 5
$183.7K
$160.7K – $214.3K
NOI $12,859 @ 7.0% cap · market cap 4.15%
Second Best
Apartment 5plus
$165.0K
$144.3K – $192.5K
NOI $11,547 @ 7.0% cap · market cap 3.73%
Theoretical Best
Office A
$437.2K
$382.6K – $510.1K
NOI $30,605 @ 7.0% cap · market cap 9.88%
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
65
Businesses Nearby
Explore this area
Business Placement
Demographics for 14075, NY
44,053
Population
20,164
Households
2.2
Avg Household Size
46
Median Age
38%
College-Educated
96%
High-School Grad
39.4 sq mi
ZIP Area
1,118
Density / Sq Mi
$82,083
Median Household Income
$50,934
Median Earnings
$1,129
Median Rent
$246,100
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 residences offer separate living spaces with central air and forced-air heat.
Where is this duplex located?
The property is located at 6178 McKinley Pkwy Hamburg, 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: Two‑unit upper/lower duplex with 2,000 square feet; Each unit includes 2 bedrooms and 1 full bath; Updated kitchens and bathrooms in both residences
