Renovated Two-Unit
For Sale
$145,000
1930 Welch Avenue, Niagara Falls, NY 14303
Separate upper and lower apartments are currently occupied by tenants.
Property Size1,564 SF
Days on Market13
Property Features for 1930 Welch Avenue
General Information
Standard status
Active
Size
1,564 SF
Property subtype
Multi Family
Taxes and HOA fees
Annual Taxes
$1,172
Building Details
Building Size
1,564 SF
Year Built
1924
Listing Agency:
eXp Realty
Listed By:
Moghees Mian · License #10401373079
(416) 823-9151
Source:
Highfallssir
Added: Sep 14
Changed: Sep 24
Last Checked: Sep 26 at 12:49PM
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 eXp Realty
Investment Insights
Based on property information with market context.
This duplex, built in 1924, contains two separate apartments arranged on the upper and lower levels. Each unit offers two bedrooms and one full bathroom. Recent updates include flooring, windows, modern appliances, and a new HVAC system, providing refreshed finishes and building systems across the property.
Both apartments are occupied by tenants, and the property is located in an Airbnb-permitted zone. Any short-term rental use remains subject to applicable City requirements and licensing. The property is located at 1930 Welch Avenue in Niagara Falls, New York.
Both apartments are occupied by tenants, and the property is located in an Airbnb-permitted zone. Any short-term rental use remains subject to applicable City requirements and licensing. The property is located at 1930 Welch Avenue in Niagara Falls, New York.
Key Highlights
- Two‑unit duplex with separate upper and lower apartments
- Each apartment includes 2 bedrooms and 1 full bathroom
- Updates include new flooring, windows, modern appliances, and HVAC
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
$12,192
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
8.41%
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%
$243,840
$243.8K
Cap Rate 7%
$174,171
$174.2K
Cap Rate 9%
$135,467
$135.5K
Market Conditions
NOI Build-Up for 1,564 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
$23.8K $15.24/SF
− Vacancy
−$1.7K −$1.07/SF
EGI
$22.2K $14.17/SF
− OpEx
−$10.0K −$6.38/SF
NOI
$12.2K $7.80/SF
Area
Niagara County, NY
Vacancy
7.00%
Lease Rate
$15.24 /SF/Yr
Expense Ratio
45.00%
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%
$243,840
Cap Rate 7%
$174,171
Cap Rate 9%
$135,467
Alternative Uses
Best Use
Multifamily LT 5
$196.2K
$171.7K – $228.9K
NOI $13,736 @ 7.0% cap · market cap 9.47%
Second Best
Apartment 5plus
$174.2K
$152.4K – $203.2K
NOI $12,192 @ 7.0% cap · market cap 8.41%
Theoretical Best
Warehouse
$1.33M
$1.16M – $1.55M
NOI $93,025 @ 7.0% cap · market cap 64.16%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
778
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
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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 - Separate upper and lower apartments are currently occupied by tenants.
Where is this duplex located?
The property is located at 1930 Welch Avenue Niagara Falls, NY.
What is the asking price?
The asking price for this property is $145,000.
What are key features of this property?
This property features: Two‑unit duplex with separate upper and lower apartments; Each apartment includes 2 bedrooms and 1 full bathroom; Updates include new flooring, windows, modern appliances, and HVAC
