Duplex with Garage
1874 Hess Road, Newfane, NY 14008
For Sale
$295,000
Updated two-unit property with separate parking areas, multiple garages, and a covered patio.
Property Size2,812 SF
Days on Market152
Property Features for 1874 Hess Road
General Information
Standard status
Size
Property subtype
Taxes and HOA fees
Annual Taxes
Building Details
Building Size
Year Built
Listing Agency:
WNYbyOwner.com
Listed By:
Robyn Sansone · License #10491209960
(716) 523-8508
Source:
Highfallssir
Added: Jun 9
Changed: Nov 6
Last Checked: Sep 11 at 2:32PM
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 WNYbyOwner.com
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Investment Insights
Based on property information with market context.
This duplex contains 2,812 square feet with a 4BR upper unit and a 2BR lower unit. Each residence has an individual driveway and designated parking area. The property includes a 6-car garage and workshop with a new steel roof, plus a separate 2-car garage with its own driveway. New gas furnaces were installed in both units in 2022.
The building dates to 1890 and has been updated throughout, with a newer covered patio providing an additional outdoor area. Both units are occupied by yearly tenants who want to remain, providing an existing residential income arrangement. Located at 1874 Hess Rd in Appleton, NY, the property combines two rental units with substantial garage, workshop, and parking space.
The building dates to 1890 and has been updated throughout, with a newer covered patio providing an additional outdoor area. Both units are occupied by yearly tenants who want to remain, providing an existing residential income arrangement. Located at 1874 Hess Rd in Appleton, NY, the property combines two rental units with substantial garage, workshop, and parking space.
Key Highlights
- 2,812 SF duplex with 4BR upper and 2BR lower units
- 6‑car garage/workshop with new steel roof
- Separate 2‑car garage with dedicated driveway
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$24,696
Cap Rate
8.37%
Suggested Prices Based on Cap Rates
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
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 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.
How Realmo checks its estimates
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
$190,200
Median Home Value
Market
Average Price Trend$/SF for Duplexes in Niagara County, NY
Properties on Market for Duplexes in Niagara County
Vacancy Rate% for Multifamily in Northeast region
Frequently Asked Questions
What type of property is this?
Duplex - Updated two-unit property with separate parking areas, multiple garages, and a covered patio.
Where is this duplex located?
The property is located at 1874 Hess Road Newfane, 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: 2,812 SF duplex with 4BR upper and 2BR lower units; 6‑car garage/workshop with new steel roof; Separate 2‑car garage with dedicated driveway
