Renovated Brick Duplex with
For Sale
$224,899
Pending
17 Saint Marys Street, Lancaster, NY 14086
MULTI_FAMILY - Other - Lancaster, NY
Property Size1,072 SF
Lot Size0.10 Acres
Days on Market158
Property Features for 17 Saint Marys Street
General Information
Property type
Residential Multi Family
Property subtype
Other
Bedrooms
3
Bathrooms
2
Full bathrooms
2
Rooms
Basement, Bedroom 3, Bedroom 1, Bathroom 2, Bedroom 2, Bathroom 1
Appliances
GasWaterHeater
Subdivision
Holland Land Company's Su
Lot features
Rectangular, Rectangular Lot, Residential Lot
Elementary school district
Lancaster
Middle school district
Lancaster
High school district
Lancaster
Standard status
Pending
APN
145203-104-190-0001-002-000
Size
1,072 SF
Lot size
0.10 Acres
Taxes and HOA fees
Tax Annual Amount
3332
Utilities
Heating system
Natural Gas, Forced Air, Heat Pump (Heating)
Cooling system
Heat Pump, Central Air, Wall Unit(s)
Water source
Public
Amenities
central air
patio
Building Details
Year built
1860
Floors in Building
2
Number of units
2
Flooring type
Varies, Laminate
Building materials
Brick, VinylSiding
Architectural style
Other
Listing Agency:
WNY Metro Roberts Realty
(716) 668-2500
Listed By:
Patrick Sportelli · License #10401258834
(716) 481-7672
Added: Mar 2
Changed: Aug 1
Last Checked: Aug 7 at 10:06AM
MLS# B1664551
Copyright © 2026 New York State Alliance of MLSs, LLC. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
Welcome to 17 Saint Marys Street: a completely renovated brick two-unit duplex built in 1860. The property features new kitchens and bathrooms in both units, luxury laminate flooring, and updated mechanicals throughout. Improvements also include a new tear-off roof and a freshly poured back concrete patio, adding outdoor space for everyday use.
Utilities and services are supported by public water. Heating is provided via natural gas forced air and a heat pump, with cooling delivered through central air plus wall unit options. The building includes a basement and multiple bedrooms and bathrooms across the two units, along with a gas water heater.
Set on a 0.1045-acre lot totaling 1,072 square feet, this duplex offers a low-maintenance, move-in-ready option for an owner occupant or an investor looking for a renovated two-unit property.
Utilities and services are supported by public water. Heating is provided via natural gas forced air and a heat pump, with cooling delivered through central air plus wall unit options. The building includes a basement and multiple bedrooms and bathrooms across the two units, along with a gas water heater.
Set on a 0.1045-acre lot totaling 1,072 square feet, this duplex offers a low-maintenance, move-in-ready option for an owner occupant or an investor looking for a renovated two-unit property.
Key Highlights
- Completely renovated brick two‑unit duplex built in 1860
- New kitchens and bathrooms in both units plus luxury laminate flooring
- Central air plus wall unit(s), with natural gas forced air and heat pump heating
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
$6,893
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
3.06%
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%
$137,860
$137.9K
Cap Rate 7%
$98,471
$98.5K
Cap Rate 9%
$76,589
$76.6K
Market Conditions
NOI Build-Up for 1,072 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
$14.8K $13.80/SF
− Vacancy
−$4.9K −$4.61/SF
EGI
$9.8K $9.19/SF
− OpEx
−$3.0K −$2.76/SF
NOI
$6.9K $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%
$137,860
Cap Rate 7%
$98,471
Cap Rate 9%
$76,589
Alternative Uses
Best Use
Multifamily LT 5
$98.5K
$86.2K – $114.9K
NOI $6,893 @ 7.0% cap · market cap 3.06%
Second Best
Apartment 5plus
$88.4K
$77.4K – $103.2K
NOI $6,189 @ 7.0% cap · market cap 2.75%
Theoretical Best
Office A
$234.3K
$205.1K – $273.4K
NOI $16,404 @ 7.0% cap · market cap 7.29%
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
516
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 - Completely renovated two-unit brick duplex with central air, new kitchens and baths, and a back patio.
Where is this duplex located?
The property is located at 17 Saint Marys Street Lancaster, NY.
What is the asking price?
The asking price for this property is $224,899.
What are key features of this property?
This property features: Completely renovated brick two‑unit duplex built in 1860; New kitchens and bathrooms in both units plus luxury laminate flooring; Central air plus wall unit(s), with natural gas forced air and heat pump heating
