Brick Side-by-Side
For Sale
$248,000
Pending
22 West 3rd Street, Cheektowaga, NY 14043
Two matching units feature modern windows, updated flooring, and central air conditioning.
Property Size1,960 SF
Days on Market72
Property Features for 22 West 3rd Street
General Information
Standard status
Pending
Size
1,960 SF
Property subtype
Multi Family
Additional Details
Highway Access
Yes
Multifamily Units
2
Taxes and HOA fees
Annual Taxes
$7,194
Amenities
central AC
fenced yard
Building Details
Building Size
1,960 SF
Year Built
1965
Construction
brick
Listing Agency:
Howard Hanna WNY Inc.
Listed By:
Scott T Carpenter · License #40CA1108599
(716) 512-3702
Source:
Highfallssir
Added: Aug 20
Changed: Oct 29
Last Checked: Oct 28 at 1:42PM
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.
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Investment Insights
Based on property information with market context.
This all-brick duplex contains two side-by-side units, each configured with three bedrooms. Both residences feature modern windows, updated flooring, central air conditioning, and well-maintained mechanical systems. Dry basements add functional storage, while the overall layout supports straightforward property management.
The exterior includes a large mostly fenced yard and substantial off-street parking. A double-wide, deep concrete driveway provides space for multiple vehicles. The property is occupied by tenants and was built in 1965.
The exterior includes a large mostly fenced yard and substantial off-street parking. A double-wide, deep concrete driveway provides space for multiple vehicles. The property is occupied by tenants and was built in 1965.
Key Highlights
- All‑brick side‑by‑side duplex with two three‑bedroom units
- Modern windows and updated flooring in both units
- Central AC and well‑maintained mechanical systems
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$12,602
Cap Rate
5.08%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$252,040
$252.0K
Cap Rate 7%
$180,029
$180.0K
Cap Rate 9%
$140,022
$140.0K
Market Conditions
NOI Build-Up for 1,960 SF
Gross rent
$27.0K $13.80/SF
− Vacancy
−$9.0K −$4.61/SF
EGI
$18.0K $9.19/SF
− OpEx
−$5.4K −$2.76/SF
NOI
$12.6K $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%
$252,040
Cap Rate 7%
$180,029
Cap Rate 9%
$140,022
Alternative Uses
Best Use
Multifamily LT 5
$180.0K
$157.5K – $210.0K
NOI $12,602 @ 7.0% cap · market cap 5.08%
Second Best
Apartment 5plus
$161.7K
$141.5K – $188.6K
NOI $11,316 @ 7.0% cap · market cap 4.56%
Theoretical Best
Office A
$428.5K
$374.9K – $499.9K
NOI $29,993 @ 7.0% cap · market cap 12.09%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Who owns this building?
See the owner, sales and loan history
Open Analytics
Lease Details
2
Residential units
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
376
Businesses Nearby
Explore this area
Business Placement
Demographics for 14043, NY
24,962
Population
11,743
Households
2.1
Avg Household Size
45
Median Age
27%
College-Educated
94%
High-School Grad
9.1 sq mi
ZIP Area
2,743
Density / Sq Mi
$73,373
Median Household Income
$50,263
Median Earnings
$1,072
Median Rent
$192,800
Median Home Value
Check the figures for this property
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Market
Vacancy Rate% for Multifamily in Northeast region
Frequently Asked Questions
What type of property is this?
Duplex - Two matching units feature modern windows, updated flooring, and central air conditioning.
Where is this duplex located?
The property is located at 22 West 3rd Street Cheektowaga, NY.
What is the asking price?
The asking price for this property is $248,000.
What are key features of this property?
This property features: All‑brick side‑by‑side duplex with two three‑bedroom units; Modern windows and updated flooring in both units; Central AC and well‑maintained mechanical systems
