3-Unit Side-by-Side
New
For Sale
$345,000
22 B Street, Niagara Falls, NY 14303
Three separate residences have private entrances, independent building systems, and basement access.
Property Size3,080 SF
Days on Market4
Property Features for 22 B Street
General Information
Standard status
Active
Size
3,080 SF
Property subtype
Multi Family
Additional Details
Furnished
Yes
Utilities to Site
Yes
Multifamily Units
3
Taxes and HOA fees
Annual Taxes
$1,774
Amenities
backyard green space
back patio
off-street parking
Building Details
Building Size
3,080 SF
Year Built
1920
Listing Agency:
Howard Hanna WNY Inc.
Listed By:
Emily Cornwell · License #10301217260
(716) 909-1375
Source:
Highfallssir
Added: Oct 2
Changed: Oct 4
Last Checked: Oct 4 at 2:13PM
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 Howard Hanna WNY Inc.
Investment Insights
Based on property information with market context.
Built in 1920, this Niagara Falls triplex contains three side-by-side residences. Each has an eat-in kitchen, living room, second-floor bedrooms, a full bath, private entry, and basement access. Heating, electrical, and mechanical systems are dedicated to each residence. Appliances and furnishings are included.
Exterior improvements include a tear-off roof completed in 2019, new front and rear concrete sidewalks, a rear patio, and a concrete parking pad. The property also has backyard green space and outdoor storage. It is located just off Hyde Park Boulevard.
Exterior improvements include a tear-off roof completed in 2019, new front and rear concrete sidewalks, a rear patio, and a concrete parking pad. The property also has backyard green space and outdoor storage. It is located just off Hyde Park Boulevard.
Key Highlights
- Three side‑by‑side residences, each with a private entrance and basement access
- Separate heating, electrical, and mechanical systems for each unit
- Each residence has an eat‑in kitchen, living room, second‑floor bedrooms, and a full 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
$27,050
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
7.84%
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%
$541,000
$541.0K
Cap Rate 7%
$386,429
$386.4K
Cap Rate 9%
$300,556
$300.6K
Market Conditions
NOI Build-Up for 3,080 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
$41.4K $13.44/SF
− Vacancy
−$2.8K −$0.89/SF
EGI
$38.6K $12.55/SF
− OpEx
−$11.6K −$3.76/SF
NOI
$27.0K $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%
$541,000
Cap Rate 7%
$386,429
Cap Rate 9%
$300,556
Alternative Uses
Best Use
Multifamily LT 5
$386.4K
$338.1K – $450.8K
NOI $27,050 @ 7.0% cap · market cap 7.84%
Second Best
Apartment 5plus
$343.0K
$300.1K – $400.2K
NOI $24,009 @ 7.0% cap · market cap 6.96%
Theoretical Best
Warehouse
$2.62M
$2.29M – $3.05M
NOI $183,195 @ 7.0% cap · market cap 53.10%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
3
Residential units
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
135
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?
Triplex - Three separate residences have private entrances, independent building systems, and basement access.
Where is this triplex located?
The property is located at 22 B Street Niagara Falls, NY.
What is the asking price?
The asking price for this property is $345,000.
What are key features of this property?
This property features: Three side‑by‑side residences, each with a private entrance and basement access; Separate heating, electrical, and mechanical systems for each unit; Each residence has an eat‑in kitchen, living room, second‑floor bedrooms, and a full bath
