Updated Two-Unit
140 Shepard Avenue, Tonawanda, NY 14217
For Sale
$265,000
Both apartments have two bedrooms and a full bath, with laundry and storage areas in the basement.
Property Size1,808 SF
Days on Market40
Property Features for 140 Shepard Avenue
General Information
Standard status
Size
Property subtype
Units
Unit Mix
Multifamily Units
Taxes and HOA fees
Annual Taxes
Amenities
built-in dishwasher
private porch
partially finished basement
storage shed
Building Details
Building Size
Year Built
Buildings
Listing Agency:
MJ Peterson Real Estate Inc.
Listed By:
James J Conley · License #10301223914
(716) 587-2903
Source:
Highfallssir
Added: Sep 30
Changed: Nov 7
Last Checked: Nov 6 at 2:31PM
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 MJ Peterson Real Estate Inc.
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Investment Insights
Based on property information with market context.
This 1931 duplex contains two apartments, each arranged with two bedrooms, a full bath, and formal living and dining rooms. Updates include fresh paint, vinyl flooring in select areas, replacement windows, updated electrical panels, and replacement plumbing with copper water lines. The lower apartment has a renovated bathroom and built-in dishwasher; the upper apartment includes a private porch and a bathroom with original tile. Basement space provides laundry, storage, and a partially finished area. Vinyl siding and an architectural shingle roof complete the exterior, alongside off-street parking and a storage shed.
Located in the Village of Kenmore and within the Ken-Ton School District, the property is near parks, shops, restaurants, and Delaware Avenue. North Buffalo is also cited among the nearby areas.
Located in the Village of Kenmore and within the Ken-Ton School District, the property is near parks, shops, restaurants, and Delaware Avenue. North Buffalo is also cited among the nearby areas.
Key Highlights
- Two apartments, each with 2 bedrooms and 1 full bath
- Year built: 1931
- Upper apartment includes a private porch
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$11,625
Cap Rate
4.39%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$232,500
$232.5K
Cap Rate 7%
$166,071
$166.1K
Cap Rate 9%
$129,167
$129.2K
Market Conditions
NOI Build-Up for 1,808 SF
Gross rent
$25.0K $13.80/SF
− Vacancy
−$8.3K −$4.61/SF
EGI
$16.6K $9.19/SF
− OpEx
−$5.0K −$2.76/SF
NOI
$11.6K $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 Rate 5%
$232,500
Cap Rate 7%
$166,071
Cap Rate 9%
$129,167
Alternative Uses
Best Use
Multifamily LT 5
$166.1K
$145.3K – $193.8K
NOI $11,625 @ 7.0% cap · market cap 4.39%
Second Best
Apartment 5plus
$149.1K
$130.5K – $174.0K
NOI $10,439 @ 7.0% cap · market cap 3.94%
Theoretical Best
Office A
$395.2K
$345.8K – $461.1K
NOI $27,667 @ 7.0% cap · market cap 10.44%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
1,043
Businesses Nearby
Explore this area
Business Placement
Demographics for 14217, NY
23,085
Population
11,280
Households
2
Avg Household Size
41
Median Age
41%
College-Educated
95%
High-School Grad
3.2 sq mi
ZIP Area
7,214
Density / Sq Mi
$72,205
Median Household Income
$51,075
Median Earnings
$970
Median Rent
$193,200
Median Home Value
Market
Average Price Trend$/SF for Duplexes in Erie County, NY
Properties on Market for Duplexes in Erie County
Vacancy Rate% for Multifamily in Northeast region
Frequently Asked Questions
What type of property is this?
Duplex - Both apartments have two bedrooms and a full bath, with laundry and storage areas in the basement.
Where is this duplex located?
The property is located at 140 Shepard Avenue Tonawanda, NY.
What is the asking price?
The asking price for this property is $265,000.
What are key features of this property?
This property features: Two apartments, each with 2 bedrooms and 1 full bath; Year built: 1931; Upper apartment includes a private porch
