Renovated Brick
For Sale
$274,900
1744 Welch Avenue, Niagara Falls, NY 14303
Updated two-unit property with separate apartments and off-street parking.
Property Size2,016 SF
Days on Market12
Property Features for 1744 Welch Avenue
General Information
Standard status
Active
Size
2,016 SF
Property subtype
Multi Family
Units
Unit Mix
1 x 2BR, 1 x 3BR
Multifamily Units
2
Taxes and HOA fees
Annual Taxes
$2,221
Building Details
Building Size
2,016 SF
Year Built
1938
Buildings
1
Construction
brick
Listing Agency:
Iconic Real Estate
Listed By:
Jayson Parker · License #10401330743
(716) 266-5805
Source:
Highfallssir
Added: Sep 15
Changed: Sep 22
Last Checked: Sep 24 at 4:34PM
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 Iconic Real Estate
Investment Insights
Based on property information with market context.
This renovated brick duplex contains two separate apartments with a five-bedroom configuration. The first-floor residence has 2 bedrooms, while the upper apartment includes 3 bedrooms. Each unit features updated kitchens and bathrooms, newer flooring, and contemporary finishes. The property was built in 1938 and includes off-street parking.
The duplex is located in Niagara Falls within an Airbnb/short-term rental zone, with traditional, short-term, and mid-term rental use subject to applicable licensing and regulations. Niagara Falls State Park and Niagara Falls Memorial Medical Center are both just minutes away, adding proximity to tourism and healthcare destinations.
The duplex is located in Niagara Falls within an Airbnb/short-term rental zone, with traditional, short-term, and mid-term rental use subject to applicable licensing and regulations. Niagara Falls State Park and Niagara Falls Memorial Medical Center are both just minutes away, adding proximity to tourism and healthcare destinations.
Key Highlights
- Renovated brick duplex with two separate apartments
- First‑floor unit has 2 bedrooms; upper unit has 3 bedrooms
- Five‑bedroom total configuration
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
$17,705
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
6.44%
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%
$354,100
$354.1K
Cap Rate 7%
$252,929
$252.9K
Cap Rate 9%
$196,722
$196.7K
Market Conditions
NOI Build-Up for 2,016 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
$27.1K $13.44/SF
− Vacancy
−$1.8K −$0.89/SF
EGI
$25.3K $12.55/SF
− OpEx
−$7.6K −$3.76/SF
NOI
$17.7K $8.78/SF
Area
Niagara County, NY
Vacancy
6.65%
Lease Rate
$13.44 /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%
$354,100
Cap Rate 7%
$252,929
Cap Rate 9%
$196,722
Alternative Uses
Best Use
Multifamily LT 5
$252.9K
$221.3K – $295.1K
NOI $17,705 @ 7.0% cap · market cap 6.44%
Second Best
Apartment 5plus
$224.5K
$196.4K – $261.9K
NOI $15,715 @ 7.0% cap · market cap 5.72%
Theoretical Best
Warehouse
$1.71M
$1.50M – $2.00M
NOI $119,909 @ 7.0% cap · market cap 43.62%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
1,022
Businesses Nearby
Explore this area
Business Placement
Demographics for 14303, NY
5,958
Population
3,505
Households
1.7
Avg Household Size
38
Median Age
16%
College-Educated
82%
High-School Grad
2.7 sq mi
ZIP Area
2,207
Density / Sq Mi
$45,519
Median Household Income
$34,623
Median Earnings
$845
Median Rent
$78,200
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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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 - Updated two-unit property with separate apartments and off-street parking.
Where is this duplex located?
The property is located at 1744 Welch Avenue Niagara Falls, NY.
What is the asking price?
The asking price for this property is $274,900.
What are key features of this property?
This property features: Renovated brick duplex with two separate apartments; First‑floor unit has 2 bedrooms; upper unit has 3 bedrooms; Five‑bedroom total configuration
