Updated Two-Unit
For Sale
$229,900
210 Westminster Road, West Seneca, NY 14224
Renovated income property near local conveniences and the 400 expressway, set on a quiet dead-end street.
Property Size1,964 SF
Days on Market107
Property Features for 210 Westminster Road
General Information
Standard status
Active
Size
1,964 SF
Property subtype
Multi Family
Site & Location
Highway Access
Yes
Road Access
Yes
Units
Unit Mix
1 x 1BR, 1 x 3BR
Multifamily Units
2
Taxes and HOA fees
Annual Taxes
$4,825
Building Details
Building Size
1,964 SF
Year Built
1957
Listing Agency:
MJ Peterson Real Estate Inc.
Listed By:
Joanne Simme Good · License #30SI1017596
(716) 684-3555
Source:
Highfallssir
Added: May 30
Changed: Sep 10
Last Checked: Sep 13 at 12:26PM
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 MJ Peterson Real Estate Inc.
Investment Insights
Based on property information with market context.
This two-unit duplex, built in 1957, combines an updated interior with extensive recent property improvements. The layout includes a three-bedroom apartment and a one-bedroom apartment. The one-bedroom unit features new drywall, flooring, and an exterior door, while the property also includes updated plumbing, vinyl siding, a newer driveway, air conditioning, and two furnaces and hot water tanks serving the units.
Set on a dead-end street within a quiet commercial area, the property is close to West Seneca conveniences and the 400 expressway. Recent exterior work includes a 2025 roof with leaf guard, 2025 Anderson windows, and 2025 drain tile installed in the yard. The three-bedroom unit has been owner occupied, while the one-bedroom unit has previously been rented.
Set on a dead-end street within a quiet commercial area, the property is close to West Seneca conveniences and the 400 expressway. Recent exterior work includes a 2025 roof with leaf guard, 2025 Anderson windows, and 2025 drain tile installed in the yard. The three-bedroom unit has been owner occupied, while the one-bedroom unit has previously been rented.
Key Highlights
- Two‑unit duplex with three‑bedroom and one‑bedroom apartments
- 2025 roof with leaf guard, Anderson windows, and yard drain tile
- Vinyl siding completed in 2021 and driveway replaced 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
$19,488
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
8.48%
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%
$389,760
$389.8K
Cap Rate 7%
$278,400
$278.4K
Cap Rate 9%
$216,533
$216.5K
Market Conditions
NOI Build-Up for 1,964 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
$29.5K $15.00/SF
− Vacancy
−$1.6K −$0.83/SF
EGI
$27.8K $14.17/SF
− OpEx
−$8.4K −$4.25/SF
NOI
$19.5K $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%
$389,760
Cap Rate 7%
$278,400
Cap Rate 9%
$216,533
Alternative Uses
Best Use
Multifamily LT 5
$278.4K
$243.6K – $324.8K
NOI $19,488 @ 7.0% cap · market cap 8.48%
Second Best
Apartment 5plus
$256.4K
$224.4K – $299.2K
NOI $17,950 @ 7.0% cap · market cap 7.81%
Theoretical Best
Office A
$472.3K
$413.3K – $551.0K
NOI $33,061 @ 7.0% cap · market cap 14.38%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
2
Residential units
Yes
Highway access
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
234
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
Check the figures for this property
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 - Renovated income property near local conveniences and the 400 expressway, set on a quiet dead-end street.
Where is this duplex located?
The property is located at 210 Westminster Road West Seneca, NY.
What is the asking price?
The asking price for this property is $229,900.
What are key features of this property?
This property features: Two‑unit duplex with three‑bedroom and one‑bedroom apartments; 2025 roof with leaf guard, Anderson windows, and yard drain tile; Vinyl siding completed in 2021 and driveway replaced in 2022
