Two-Unit Corner
For Sale
$150,000
2 N Main St, Royalton, NY 14105
Each unit has separate entrances and independent gas and water meters, plus off-street gravel parking.
Property Size1,408 SF
Days on Market55
Property Features for 2 N Main St
General Information
Standard status
Active
Size
1,408 SF
Property subtype
Multi Family
Taxes and HOA fees
Annual Taxes
$3,182
Building Details
Building Size
1,408 SF
Year Built
1860
Stories
2
Units
2
Listing Agency:
Keller Williams Realty Buffalo Northtowns
(716) 256-0510
Listed By:
Matthew D Kennedy · License #10301223081
(716) 256-0510
Source:
Elliman
Added: Jun 16
Changed: Aug 8
Last Checked: Aug 9 at 10:05AM
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 Keller Williams Realty Buffalo Northtowns
Investment Insights
Based on property information with market context.
This two-unit duplex is set up for privacy and operational simplicity, with entirely separate entrances for each apartment. The property includes independent gas and water meters, which can help keep landlord utility costs controlled. The downstairs unit is configured as a 1-bedroom, 1-bath home with forced air heating. The upstairs unit offers 2 bedrooms and 1 bathroom, heated by an efficient baseboard boiler.
The duplex sits on a corner lot and is described as offering canal and lift bridge views from the windows. Off-street gravel parking is provided. The area is characterized as bikeable and car-dependent, with a BikeScore of 56 and WalkScore of 47.
For buyers or operators, the separate entrances and independent metering support a practical live-in-and-rent, or fully rented, arrangement. The unit mix also provides flexibility for tenant profiles seeking either a smaller 1-bedroom layout or a larger 2-bedroom layout within the same property. The off-street parking helps round out day-to-day convenience for residents.
The duplex sits on a corner lot and is described as offering canal and lift bridge views from the windows. Off-street gravel parking is provided. The area is characterized as bikeable and car-dependent, with a BikeScore of 56 and WalkScore of 47.
For buyers or operators, the separate entrances and independent metering support a practical live-in-and-rent, or fully rented, arrangement. The unit mix also provides flexibility for tenant profiles seeking either a smaller 1-bedroom layout or a larger 2-bedroom layout within the same property. The off-street parking helps round out day-to-day convenience for residents.
Key Highlights
- 2‑unit multifamily property built in 1860 on a corner lot
- Each unit has separate entrances for added privacy
- Independent gas and water meters for each unit
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
$12,366
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
8.24%
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%
$247,320
$247.3K
Cap Rate 7%
$176,657
$176.7K
Cap Rate 9%
$137,400
$137.4K
Market Conditions
NOI Build-Up for 1,408 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
$18.9K $13.44/SF
− Vacancy
−$1.3K −$0.89/SF
EGI
$17.7K $12.55/SF
− OpEx
−$5.3K −$3.76/SF
NOI
$12.4K $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%
$247,320
Cap Rate 7%
$176,657
Cap Rate 9%
$137,400
Alternative Uses
Best Use
Multifamily LT 5
$176.7K
$154.6K – $206.1K
NOI $12,366 @ 7.0% cap · market cap 8.24%
Second Best
Apartment 5plus
$156.8K
$137.2K – $182.9K
NOI $10,976 @ 7.0% cap · market cap 7.32%
Theoretical Best
Warehouse
$1.20M
$1.05M – $1.40M
NOI $83,746 @ 7.0% cap · market cap 55.83%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
106
Businesses Nearby
Explore this area
Business Placement
Demographics for 14105, NY
4,388
Population
2,149
Households
2
Avg Household Size
44
Median Age
20%
College-Educated
90%
High-School Grad
51.6 sq mi
ZIP Area
85
Density / Sq Mi
$85,208
Median Household Income
$37,527
Median Earnings
$594
Median Rent
$154,900
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 - Each unit has separate entrances and independent gas and water meters, plus off-street gravel parking.
Where is this duplex located?
The property is located at 2 N Main St Royalton, NY.
What is the asking price?
The asking price for this property is $150,000.
What are key features of this property?
This property features: 2‑unit multifamily property built in 1860 on a corner lot; Each unit has separate entrances for added privacy; Independent gas and water meters for each unit
