Two-Family Duplex with Detached
22 Gilbert Avenue, Hamburg, NY 14219
For Sale
$249,900
Two separate apartments offer in-unit laundry connections, private outdoor space, and a detached two-car garage.
Property Size1,624 SF
Days on Market21
Property Features for 22 Gilbert Avenue
General Information
Standard status
Size
Total Parking Spaces
Property subtype
Units
Unit Mix
Multifamily Units
Taxes and HOA fees
Annual Taxes
Amenities
in-unit laundry connections
private yard
Building Details
Building Size
Year Built
Buildings
Listing Agency:
Keller Williams Realty Lancaster
Listed By:
Ryan Daley · License #10301215815
(716) 949-5189
Source:
Highfallssir
Added: Oct 18
Changed: Nov 7
Last Checked: Nov 6 at 2:39PM
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 Lancaster
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Investment Insights
Based on property information with market context.
This duplex contains two apartments with distinct layouts. The lower unit has three bedrooms, a living room, and an eat-in kitchen; its third bedroom can also serve as a second living area. The upper apartment includes two bedrooms, a living room, and a fully equipped kitchen. Both units have laundry connections. The 1,624-square-foot property was built in 1880 and has a private yard and detached two-car garage, which features a recently installed garage door.
Building updates include a tear-off architectural roof, newer high-efficiency furnaces and hot water tanks, updated windows, and an asphalt driveway. The exterior is vinyl.
Building updates include a tear-off architectural roof, newer high-efficiency furnaces and hot water tanks, updated windows, and an asphalt driveway. The exterior is vinyl.
Key Highlights
- Two apartments: lower unit with three bedrooms; upper unit with two bedrooms
- Both apartments have in‑unit laundry connections
- Detached two‑car garage with a new garage door
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$10,442
Cap Rate
4.18%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$208,840
$208.8K
Cap Rate 7%
$149,171
$149.2K
Cap Rate 9%
$116,022
$116.0K
Market Conditions
NOI Build-Up for 1,624 SF
Gross rent
$22.4K $13.80/SF
− Vacancy
−$7.5K −$4.61/SF
EGI
$14.9K $9.19/SF
− OpEx
−$4.5K −$2.76/SF
NOI
$10.4K $6.43/SF
Area
Erie County, NY
Vacancy
33.44%
Lease Rate
$13.80 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$208,840
Cap Rate 7%
$149,171
Cap Rate 9%
$116,022
Alternative Uses
Best Use
Multifamily LT 5
$149.2K
$130.5K – $174.0K
NOI $10,442 @ 7.0% cap · market cap 4.18%
Second Best
Apartment 5plus
$133.9K
$117.2K – $156.3K
NOI $9,376 @ 7.0% cap · market cap 3.75%
Theoretical Best
Office A
$355.0K
$310.6K – $414.2K
NOI $24,851 @ 7.0% cap · market cap 9.94%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
322
Businesses Nearby
Explore this area
Business Placement
Demographics for 14219, NY
11,593
Population
5,612
Households
2.1
Avg Household Size
42
Median Age
21%
College-Educated
94%
High-School Grad
6.9 sq mi
ZIP Area
1,680
Density / Sq Mi
$75,465
Median Household Income
$45,957
Median Earnings
$928
Median Rent
$181,800
Median Home Value
Market
Average Price Trend$/SF for Duplexes in Erie County, NY
Properties on Market for Duplexes in Erie County
Vacancy Rate% for Multifamily in Northeast region
Frequently Asked Questions
What type of property is this?
Duplex - Two separate apartments offer in-unit laundry connections, private outdoor space, and a detached two-car garage.
Where is this duplex located?
The property is located at 22 Gilbert Avenue Hamburg, NY.
What is the asking price?
The asking price for this property is $249,900.
What are key features of this property?
This property features: Two apartments: lower unit with three bedrooms; upper unit with two bedrooms; Both apartments have in‑unit laundry connections; Detached two‑car garage with a new garage door
