Two-Family Home on Corner
For Sale
$389,900
Pending
15 Glendale Ter, Orchard Park, NY 14127
Two-unit home with private, partially fenced corner lot, patio access, newer flooring, and an installed whole-house generator.
Property Size2,547 SF
Days on Market70
Property Features for 15 Glendale Ter
General Information
Standard status
Pending
Size
2,547 SF
Property subtype
Multi Family
Taxes and HOA fees
Annual Taxes
$7,853
Building Details
Building Size
2,547 SF
Year Built
1974
Stories
2
Units
2
Listed By:
Kathleen T Peglau
(716) 983-9910
Source:
Elliman
Added: Jul 4
Changed: Sep 9
Last Checked: Sep 10 at 11:28AM
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 Kathleen T Peglau
Investment Insights
Based on property information with market context.
This two-family home offers flexible living with a large first-floor living and dining combination and generous interior space. The main unit includes three bedrooms and one and a half baths, along with additional family room space. Updates mentioned include newer laminate flooring in the kitchen, newer carpet, a newer kitchen sink, and newer flooring in the primary room. The property also features a newer hot water tank, a newer garage door, and a whole-house generator. Outside, there is a partially fenced corner lot with a sunny patio accessed through sliding glass doors, plus a newer shed for additional storage.
Located on a quiet cul-de-sac within a mostly single-family residential area, the home benefits from a private corner-lot setting and car-dependent access noted by walk and bike scores.
In addition to functioning as a duplex, the layout is described as adaptable for use as a single-family dwelling while utilizing the upper apartment for options such as an in-law setup, home office, or additional flexible space.
Located on a quiet cul-de-sac within a mostly single-family residential area, the home benefits from a private corner-lot setting and car-dependent access noted by walk and bike scores.
In addition to functioning as a duplex, the layout is described as adaptable for use as a single-family dwelling while utilizing the upper apartment for options such as an in-law setup, home office, or additional flexible space.
Key Highlights
- 1974‑built two‑family home on a quiet cul‑de‑sac with a private corner lot (partially fenced)
- Sliding glass doors lead to a sunny patio overlooking the yard
- First‑floor unit features a large living/dining combo plus three bedrooms and 1.5 baths
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
$16,376
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
4.20%
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%
$327,520
$327.5K
Cap Rate 7%
$233,943
$233.9K
Cap Rate 9%
$181,956
$182.0K
Market Conditions
NOI Build-Up for 2,547 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
$35.1K $13.80/SF
− Vacancy
−$11.8K −$4.61/SF
EGI
$23.4K $9.19/SF
− OpEx
−$7.0K −$2.76/SF
NOI
$16.4K $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%
$327,520
Cap Rate 7%
$233,943
Cap Rate 9%
$181,956
Alternative Uses
Best Use
Multifamily LT 5
$233.9K
$204.7K – $272.9K
NOI $16,376 @ 7.0% cap · market cap 4.20%
Second Best
Apartment 5plus
$210.1K
$183.8K – $245.1K
NOI $14,706 @ 7.0% cap · market cap 3.77%
Theoretical Best
Office A
$556.8K
$487.2K – $649.6K
NOI $38,975 @ 7.0% cap · market cap 10.00%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Location Intelligence
Trade Area within ½ mile
846
Businesses Nearby
Explore this area
Business Placement
Demographics for 14127, NY
30,565
Population
13,412
Households
2.3
Avg Household Size
46
Median Age
53%
College-Educated
98%
High-School Grad
40.7 sq mi
ZIP Area
751
Density / Sq Mi
$106,071
Median Household Income
$59,902
Median Earnings
$1,196
Median Rent
$328,700
Median Home Value
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Market
Vacancy Rate% for Multifamily in Northeast region
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Frequently Asked Questions
What type of property is this?
Duplex - Two-unit home with private, partially fenced corner lot, patio access, newer flooring, and an installed whole-house generator.
Where is this duplex located?
The property is located at 15 Glendale Ter Orchard Park, NY.
What is the asking price?
The asking price for this property is $389,900.
What are key features of this property?
This property features: 1974‑built two‑family home on a quiet cul‑de‑sac with a private corner lot (partially fenced); Sliding glass doors lead to a sunny patio overlooking the yard; First‑floor unit features a large living/dining combo plus three bedrooms and 1.5 baths
