Duplex with Separate
For Sale
$200,000
167 Laverack Avenue, Lancaster, NY 14086
Two-unit residential property with private outdoor spaces, off-street parking, and updated electrical service.
Property Size1,819 SF
Price / SF$109.95
Days on Market39
Property Features for 167 Laverack Avenue
General Information
Standard status
Active
Size
1,819 SF
Property subtype
Multi Family Home
Additional Details
Multifamily Units
2
Amenities
in-unit laundry
covered porch
private balcony
Building Details
Building Size
1,819 SF
Year Built
1920
Buildings
1
Stories
1
Units
2
Listing Agency:
Howard Hanna WNY Inc.
(716) 523-6693
Listed By:
Jenny Pfeiffer
(716) 523-6693
Source:
Homeprocny
Added: Jul 13
Changed: Aug 17
Last Checked: Aug 19 at 2:46PM
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 Howard Hanna WNY Inc.
Investment Insights
Based on property information with market context.
Built in 1920, this two-unit property contains 1,819 square feet and provides a distinct living arrangement for each residence. Both units include living and dining areas, kitchens with appliances, and in-unit laundry. The laundry areas also offer flexibility for use as a home office or bedroom.
Outdoor features vary by unit, with a covered porch serving the lower residence and a private balcony for the upper residence. A concrete driveway provides off-street parking, while separate utilities support independent unit operations. The property is located at 167 Laverack Avenue in Lancaster, NY 14086.
Outdoor features vary by unit, with a covered porch serving the lower residence and a private balcony for the upper residence. A concrete driveway provides off-street parking, while separate utilities support independent unit operations. The property is located at 167 Laverack Avenue in Lancaster, NY 14086.
Key Highlights
- Two‑unit property with 1,819 square feet
- Separate utilities and updated electrical service
- Each unit has living and dining areas, a kitchen with appliances, and in‑unit laundry
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
$11,696
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
5.85%
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%
$233,920
$233.9K
Cap Rate 7%
$167,086
$167.1K
Cap Rate 9%
$129,956
$130.0K
Market Conditions
NOI Build-Up for 1,819 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
$25.1K $13.80/SF
− Vacancy
−$8.4K −$4.61/SF
EGI
$16.7K $9.19/SF
− OpEx
−$5.0K −$2.76/SF
NOI
$11.7K $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%
$233,920
Cap Rate 7%
$167,086
Cap Rate 9%
$129,956
Alternative Uses
Best Use
Multifamily LT 5
$167.1K
$146.2K – $194.9K
NOI $11,696 @ 7.0% cap · market cap 5.85%
Second Best
Apartment 5plus
$150.0K
$131.3K – $175.0K
NOI $10,502 @ 7.0% cap · market cap 5.25%
Theoretical Best
Office A
$397.6K
$347.9K – $463.9K
NOI $27,835 @ 7.0% cap · market cap 13.92%
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
656
Businesses Nearby
Explore this area
Business Placement
Demographics for 14086, NY
35,010
Population
15,486
Households
2.3
Avg Household Size
44
Median Age
39%
College-Educated
95%
High-School Grad
33.3 sq mi
ZIP Area
1,051
Density / Sq Mi
$95,949
Median Household Income
$53,164
Median Earnings
$983
Median Rent
$263,600
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 residential property with private outdoor spaces, off-street parking, and updated electrical service.
Where is this duplex located?
The property is located at 167 Laverack Avenue Lancaster, NY.
What is the asking price?
The asking price for this property is $200,000.
What are key features of this property?
This property features: Two‑unit property with 1,819 square feet; Separate utilities and updated electrical service; Each unit has living and dining areas, a kitchen with appliances, and in‑unit laundry
