Duplex with Separate
For Sale
$295,000
1874 Hess Road, Appleton, NY 14008
MULTI_FAMILY - Other - Appleton, NY
Property Size2,812 SF
Lot Size0.36 Acres
Price / SF$104.91
Days on Market68
Property Features for 1874 Hess Road
General Information
Property type
Residential Multi Family
Property subtype
Other
Bedrooms
4
Bathrooms
2
Full bathrooms
2
Rooms
Bedroom 3, Basement, Bathroom 2, Bedroom 1, Bedroom 2, Bathroom 1, Bedroom 4
Patio and Porch features
Patio
Interior features
NaturalWoodwork
Exterior features
Patio
Appliances
OilWaterHeater
Subdivision
Holland Land Companys Lan
Lot features
Rectangular, Rectangular Lot
Elementary school district
Barker
Middle school district
Barker
High school district
Barker
Directions
Rte 104 to Hess Rd
Standard status
Active
APN
292800-016-009-0001-034-000
Size
2,812 SF
Lot size
0.36 Acres
Taxes and HOA fees
Tax Annual Amount
5486
Utilities
Sewer type
Septic Tank
Heating system
Oil, Forced Air
Water source
Public
Amenities
covered patio
Building Details
Year built
1890
Floors in Building
2
Number of units
2
Flooring type
Tile, Varies, Hardwood
Building materials
VinylSiding, CopperPlumbing
Roof type
Asphalt
Architectural style
Other
Listing Agency:
WNYbyOwner.com
(716) 523-8508
Listed By:
Robyn Sansone · License #10491209960
(716) 523-8508
Added: Jun 9
Changed: Aug 3
Last Checked: Aug 15 at 3:06AM
MLS# B1689008
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.
Updated country duplex with tenant occupancy and practical separation for everyday living. The property is continuously rented by yearly tenants, and each tenant has an individual driveway and parking area.
The duplex configuration includes a 4-bedroom upper unit and a 2-bedroom lower unit. New gas furnaces were installed in each unit in 2022, supporting year-round comfort. Outdoor and hobby space is a major feature, with a 6-car garage/workshop that has a new steel roof, plus a separate 2-car garage, each with dedicated driveways.
Additional details include a covered patio, natural woodwork, and a mix of hardwood, tile, and varied flooring. Public water service is available, and the property uses a septic tank for sewer. Built in 1890, the exterior features vinyl siding, with an asphalt roof.
The duplex configuration includes a 4-bedroom upper unit and a 2-bedroom lower unit. New gas furnaces were installed in each unit in 2022, supporting year-round comfort. Outdoor and hobby space is a major feature, with a 6-car garage/workshop that has a new steel roof, plus a separate 2-car garage, each with dedicated driveways.
Additional details include a covered patio, natural woodwork, and a mix of hardwood, tile, and varied flooring. Public water service is available, and the property uses a septic tank for sewer. Built in 1890, the exterior features vinyl siding, with an asphalt roof.
Key Highlights
- Continuous yearly tenant occupancy
- Each tenant has individual driveway and parking areas
- New gas furnaces installed in each unit in 2022
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
$24,696
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
8.37%
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%
$493,920
$493.9K
Cap Rate 7%
$352,800
$352.8K
Cap Rate 9%
$274,400
$274.4K
Market Conditions
NOI Build-Up for 2,812 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
$37.8K $13.44/SF
− Vacancy
−$2.5K −$0.89/SF
EGI
$35.3K $12.55/SF
− OpEx
−$10.6K −$3.76/SF
NOI
$24.7K $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%
$493,920
Cap Rate 7%
$352,800
Cap Rate 9%
$274,400
Alternative Uses
Best Use
Multifamily LT 5
$352.8K
$308.7K – $411.6K
NOI $24,696 @ 7.0% cap · market cap 8.37%
Second Best
Apartment 5plus
$313.1K
$274.0K – $365.3K
NOI $21,920 @ 7.0% cap · market cap 7.43%
Theoretical Best
Warehouse
$2.39M
$2.09M – $2.79M
NOI $167,254 @ 7.0% cap · market cap 56.70%
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
9
Businesses Nearby
Explore this area
Business Placement
Demographics for 14008, NY
1,306
Population
658
Households
2
Avg Household Size
47
Median Age
22%
College-Educated
82%
High-School Grad
24.8 sq mi
ZIP Area
53
Density / Sq Mi
$68,452
Median Household Income
$33,393
Median Earnings
$559
Median Rent
$190,200
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 - Updated duplex with individual driveways and parking areas for each unit and a covered patio for outdoor entertaining.
Where is this duplex located?
The property is located at 1874 Hess Road Appleton, NY.
What is the asking price?
The asking price for this property is $295,000.
What are key features of this property?
This property features: Continuous yearly tenant occupancy; Each tenant has individual driveway and parking areas; New gas furnaces installed in each unit in 2022
