Two-Unit Duplex with Separate
New
For Sale
$289,900
1378 Ridge Rd, Lackawanna, NY 14218
Each residence has its own boiler and hot water tank, supporting independent heating and utility control.
Property Size2,496 SF
Days on Market2
Property Features for 1378 Ridge Rd
General Information
Standard status
Active
Size
2,496 SF
Property subtype
Multi Family
Taxes and HOA fees
Annual Taxes
$6,118
Building Details
Building Size
2,496 SF
Year Built
1935
Stories
2
Units
2
Listing Agency:
HUNT Real Estate ERA
Listed By:
Enas L Latif · License #10301216105
(716) 417-4755
Source:
Elliman
Added: Oct 30
Changed: Oct 31
Last Checked: Oct 31 at 3:29AM
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 HUNT Real Estate ERA
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Investment Insights
Based on property information with market context.
This up-and-down duplex contains two residences, each with three bedrooms and one full bathroom. Separate boilers and hot water tanks serve the units, allowing each to manage its own heating and hot water. The property was built in 1935 and occupies a double lot with off-street parking and a wide driveway.
The address is 1378 Ridge Rd in Lackawanna, NY. Walk Score is 67, Bike Score is 52, and Transit Score is 31.
The address is 1378 Ridge Rd in Lackawanna, NY. Walk Score is 67, Bike Score is 52, and Transit Score is 31.
Key Highlights
- Two residences, each with 3 bedrooms and 1 full bath
- Separate boiler and hot water tank for each unit
- Double‑lot parcel with off‑street parking and a wide driveway
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$24,767
Cap Rate
8.54%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$495,340
$495.3K
Cap Rate 7%
$353,814
$353.8K
Cap Rate 9%
$275,189
$275.2K
Market Conditions
NOI Build-Up for 2,496 SF
Gross rent
$37.4K $15.00/SF
− Vacancy
−$2.1K −$0.83/SF
EGI
$35.4K $14.17/SF
− OpEx
−$10.6K −$4.25/SF
NOI
$24.8K $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 Rate 5%
$495,340
Cap Rate 7%
$353,814
Cap Rate 9%
$275,189
Alternative Uses
Best Use
Multifamily LT 5
$353.8K
$309.6K – $412.8K
NOI $24,767 @ 7.0% cap · market cap 8.54%
Second Best
Apartment 5plus
$325.9K
$285.2K – $380.2K
NOI $22,812 @ 7.0% cap · market cap 7.87%
Theoretical Best
Office A
$600.2K
$525.2K – $700.3K
NOI $42,017 @ 7.0% cap · market cap 14.49%
Zoning and permitted uses should be independently verified with authorities.
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Location Intelligence
Trade Area within ½ mile
350
Businesses Nearby
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Business Placement
Demographics for 14218, NY
20,878
Population
9,478
Households
2.2
Avg Household Size
38
Median Age
21%
College-Educated
88%
High-School Grad
8.1 sq mi
ZIP Area
2,578
Density / Sq Mi
$50,484
Median Household Income
$36,457
Median Earnings
$829
Median Rent
$135,000
Median Home Value
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Market
Vacancy Rate% for Multifamily in Northeast region
Frequently Asked Questions
What type of property is this?
Duplex - Each residence has its own boiler and hot water tank, supporting independent heating and utility control.
Where is this duplex located?
The property is located at 1378 Ridge Rd Lackawanna, 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: Two residences, each with 3 bedrooms and 1 full bath; Separate boiler and hot water tank for each unit; Double‑lot parcel with off‑street parking and a wide driveway
