Two-Family Home with Remodeled
New
For Sale
$225,000
184 Lincoln Avenue, North Tonawanda, NY 14120
MULTI_FAMILY - North Tonawanda, NY
Property Size1,918 SF
Lot Size0.10 Acres
Price / SF$117.31
Days on Market5
Property Features for 184 Lincoln Avenue
General Information
Property type
Residential Multi Family
Property subtype
Other
Bedrooms
5
Bathrooms
2
Full bathrooms
2
Rooms
Bedroom 1, Bedroom 2, Bathroom 2, Bathroom 1, Basement, Bedroom 5, Bedroom 3, Bedroom 4
Appliances
GasWaterHeater
Subdivision
North Tonawanda Village
Lot features
Rectangular, Rectangular Lot, Residential Lot
Elementary school district
North Tonawanda
Middle school district
North Tonawanda
High school district
North Tonawanda
Standard status
Active
APN
291200-182-078-0002-015-000
Size
1,918 SF
Lot size
0.10 Acres
Taxes and HOA fees
Tax Annual Amount
4936
Utilities
Heating system
Forced Air, Natural Gas
Water source
Public
Building Details
Year built
1920
Floors in Building
2
Number of units
2
Flooring type
Vinyl, Varies
Building materials
BlownInInsulation, VinylSiding
Listing Agency:
Keller Williams Realty WNY
(716) 832-3300
Listed By:
Alexander Ackley · License #10401307202
(716) 405-0505
Added: Jul 29
Changed: Aug 1
Last Checked: Aug 2 at 8:06PM
MLS# B1701456
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.
184 Lincoln Avenue is a well-maintained two-family duplex built in 1920, offering a practical setup for an owner-occupant or an investor. The lower unit is currently occupied by tenants, and the upper apartment is vacant and move-in ready. The lower apartment was updated in July 2025, and the upper unit has also been recently remodeled.
The home includes forced air heating with natural gas and public water service. Construction features include blown-in insulation and vinyl siding. The property also offers a basement and a gas water heater.
Several major improvements have already been addressed, including a roof replacement in 2018 and hot water tanks replaced around 2017. To help with the transition, kitchen appliances and the washer and dryer are included with the sale. Set on a 0.0964-acre lot, the property totals 1,918 square feet.
The home includes forced air heating with natural gas and public water service. Construction features include blown-in insulation and vinyl siding. The property also offers a basement and a gas water heater.
Several major improvements have already been addressed, including a roof replacement in 2018 and hot water tanks replaced around 2017. To help with the transition, kitchen appliances and the washer and dryer are included with the sale. Set on a 0.0964-acre lot, the property totals 1,918 square feet.
Key Highlights
- 0.0964‑acre lot
- 1,918 SF two‑family duplex
- Lower unit updated in July 2025 and currently occupied
Financial Insights For Multifamily LT 5
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $25.8k | $13.44 |
| − Vacancy | −$1.7k | −$0.89 |
| EGI | $24.1k | $12.55 |
| − OpEx | −$7.2k | −$3.76 |
| NOI | $16.8k | $8.78 |
1,918 SF · lease $13.44/SF/yr · vacancy 6.65% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$240.6K
$210.6K – $280.8K
NOI $16,845 @ 7.0% cap · market cap 7.49%
Second Best
Apartment 5plus
$213.6K
$186.9K – $249.2K
NOI $14,951 @ 7.0% cap · market cap 6.64%
Theoretical Best
Warehouse
$1.63M
$1.43M – $1.90M
NOI $114,080 @ 7.0% cap · market cap 50.70%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
832
Businesses Nearby
Explore this area
Business Placement
Demographics for 14120, NY
44,538
Population
20,367
Households
2.2
Avg Household Size
45
Median Age
30%
College-Educated
94%
High-School Grad
32.6 sq mi
ZIP Area
1,366
Density / Sq Mi
$76,608
Median Household Income
$47,014
Median Earnings
$932
Median Rent
$205,300
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-family duplex with a tenant-occupied lower unit and a recently remodeled vacant upper unit ready for move-in.
Where is this duplex located?
The property is located at 184 Lincoln Avenue North Tonawanda, NY.
What is the asking price?
The asking price for this property is $225,000.
What are key features of this property?
This property features: 0.0964‑acre lot; 1,918 SF two‑family duplex; Lower unit updated in July 2025 and currently occupied
