Duplex Conversion Opportunity Cape
For Sale
$350,000
20 East Avenue, West Seneca, NY 14224
Expanded Cape Cod in R65A zoning currently offers a second-floor in-law apartment and can convert to a true two-family setup.
Property Size2,521 SF
Days on Market165
Property Features for 20 East Avenue
General Information
Standard status
Active
Size
2,521 SF
Property subtype
Multi Family
Zoning
R65A
Additional Details
Highway Access
Yes
Taxes and HOA fees
Annual Taxes
$5,104
Building Details
Building Size
2,521 SF
Year Built
1950
Construction
Cape Cod
Listing Agency:
WNY Metro Roberts Realty
Listed By:
Brian Kras · License #10401373450
(716) 796-4186
Source:
Highfallssir
Added: Apr 2
Changed: Sep 10
Last Checked: Sep 13 at 11:43AM
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 WNY Metro Roberts Realty
Investment Insights
Based on property information with market context.
This expanded Cape Cod is currently set up as a single-family home with a second-floor in-law apartment, providing flexible living and income options. The main level includes 3 bedrooms, and the additional upstairs space brings the total to 5 bedrooms. With a little finishing, the home can be configured as a larger 6 or 7-bedroom, 3-bath residence featuring multiple living areas, a family room, and a home office.
The layout also supports a conversion to a true two-family structure. One option is a spacious first-floor unit with a 4 or 5 bedroom, 2 bath arrangement, paired with an upper unit that offers 2 bedrooms and 1 bath, each with its own living space and kitchen.
Built in 1950, the property includes an oversized 3+ car garage and a triple-wide driveway for convenient parking and storage. It’s located just minutes from shopping, dining, parks, schools, and the NYS Thruway for quick access to Buffalo and beyond. Open house dates are scheduled for Saturday April 4th, 2026 (11am–1pm), Wednesday April 8th, 2026 (5pm–7pm), and Sunday April 12th, 2026 (1pm–3pm), with offers reviewed on Monday April 13th, 2026 at 3PM.
The layout also supports a conversion to a true two-family structure. One option is a spacious first-floor unit with a 4 or 5 bedroom, 2 bath arrangement, paired with an upper unit that offers 2 bedrooms and 1 bath, each with its own living space and kitchen.
Built in 1950, the property includes an oversized 3+ car garage and a triple-wide driveway for convenient parking and storage. It’s located just minutes from shopping, dining, parks, schools, and the NYS Thruway for quick access to Buffalo and beyond. Open house dates are scheduled for Saturday April 4th, 2026 (11am–1pm), Wednesday April 8th, 2026 (5pm–7pm), and Sunday April 12th, 2026 (1pm–3pm), with offers reviewed on Monday April 13th, 2026 at 3PM.
Key Highlights
- R65A zoning supports single‑family living with strong flexibility for multi‑family configuration
- Currently set up with a second‑floor in‑law apartment and total 5 bedrooms (3 main + 2 upstairs)
- Conversion potential to two‑family setup: first‑floor 4 or 5 bed / 2 bath plus upper 2 bed / 1 bath
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
$25,015
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
7.15%
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%
$500,300
$500.3K
Cap Rate 7%
$357,357
$357.4K
Cap Rate 9%
$277,944
$277.9K
Market Conditions
NOI Build-Up for 2,521 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 $15.00/SF
− Vacancy
−$2.1K −$0.83/SF
EGI
$35.7K $14.17/SF
− OpEx
−$10.7K −$4.25/SF
NOI
$25.0K $9.92/SF
Area
Buffalo, NY
Vacancy
5.50%
Lease Rate
$15.00 /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%
$500,300
Cap Rate 7%
$357,357
Cap Rate 9%
$277,944
Alternative Uses
Best Use
Multifamily LT 5
$357.4K
$312.7K – $416.9K
NOI $25,015 @ 7.0% cap · market cap 7.15%
Second Best
Apartment 5plus
$329.1K
$288.0K – $384.0K
NOI $23,040 @ 7.0% cap · market cap 6.58%
Theoretical Best
Office A
$606.3K
$530.5K – $707.3K
NOI $42,438 @ 7.0% cap · market cap 12.13%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Lease Details
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
149
Businesses Nearby
Explore this area
Business Placement
Demographics for 14224, NY
40,736
Population
19,286
Households
2.1
Avg Household Size
46
Median Age
33%
College-Educated
95%
High-School Grad
20.2 sq mi
ZIP Area
2,017
Density / Sq Mi
$76,250
Median Household Income
$49,824
Median Earnings
$1,077
Median Rent
$219,800
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 - Expanded Cape Cod in R65A zoning currently offers a second-floor in-law apartment and can convert to a true two-family setup.
Where is this duplex located?
The property is located at 20 East Avenue West Seneca, NY.
What is the asking price?
The asking price for this property is $350,000.
What are key features of this property?
This property features: R65A zoning supports single‑family living with strong flexibility for multi‑family configuration; Currently set up with a second‑floor in‑law apartment and total 5 bedrooms (3 main + 2 upstairs); Conversion potential to two‑family setup: first‑floor 4 or 5 bed / 2 bath plus upper 2 bed / 1 bath
