Two-Unit Duplex with Separate
229 Stillwell Avenue, Tonawanda, NY 14217
For Sale
$339,900
Each residence offers two bedrooms, a bonus room, and a formal dining area.
Property Size2,172 SF
Days on Market14
Property Features for 229 Stillwell Avenue
General Information
Standard status
Size
Property subtype
Units
Unit Mix
Multifamily Units
Additional Details
Utilities to Site
Tenant in Place
Taxes and HOA fees
Annual Taxes
Amenities
shared laundry
front porch
rear patio deck
Building Details
Building Size
Year Built
Buildings
Listing Agency:
Steiger Realty
Listed By:
Nathan Steiger · License #49ST1140031
(716) 536-8606
Source:
Highfallssir
Added: Oct 26
Changed: Nov 7
Last Checked: Nov 7 at 12:25PM
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 Steiger Realty
Ask AI about this property
Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
Built in 1938, this duplex contains two residences, each with two bedrooms, one full bathroom, a living room, a formal dining room, and a bonus room. The lower unit uses a boiler with hot-water baseboard heat; the upper unit has forced-air heat. Utilities are separately metered, and the owner pays water and sewer. Updated kitchens and bathrooms, decorative tile and hardwood flooring, vinyl windows, vinyl siding, and an architectural-shingle roof are among the property’s improvements.
Shared basement space includes laundry, a sump pump, and storage or recreation space. A separate attic provides additional storage. The property also has a front porch, rear patio deck, and driveway parking, with street parking available as well. Both units have a two-story front foyer and secondary egress. The lower unit is expected to be vacant after November 5, 2026.
Shared basement space includes laundry, a sump pump, and storage or recreation space. A separate attic provides additional storage. The property also has a front porch, rear patio deck, and driveway parking, with street parking available as well. Both units have a two-story front foyer and secondary egress. The lower unit is expected to be vacant after November 5, 2026.
Key Highlights
- Two residences, each with 2 bedrooms and 1 full bathroom
- 1938 construction with updated kitchens and bathrooms
- Separate utilities; owner pays water and sewer
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$13,965
Cap Rate
4.11%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$279,300
$279.3K
Cap Rate 7%
$199,500
$199.5K
Cap Rate 9%
$155,167
$155.2K
Market Conditions
NOI Build-Up for 2,172 SF
Gross rent
$30.0K $13.80/SF
− Vacancy
−$10.0K −$4.61/SF
EGI
$20.0K $9.19/SF
− OpEx
−$6.0K −$2.76/SF
NOI
$14.0K $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%
$279,300
Cap Rate 7%
$199,500
Cap Rate 9%
$155,167
Alternative Uses
Best Use
Multifamily LT 5
$199.5K
$174.6K – $232.8K
NOI $13,965 @ 7.0% cap · market cap 4.11%
Second Best
Apartment 5plus
$179.1K
$156.8K – $209.0K
NOI $12,540 @ 7.0% cap · market cap 3.69%
Theoretical Best
Office A
$474.8K
$415.5K – $554.0K
NOI $33,237 @ 7.0% cap · market cap 9.78%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Lease Details
2
Residential units
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
346
Businesses Nearby
Explore this area
Business Placement
Demographics for 14217, NY
23,085
Population
11,280
Households
2
Avg Household Size
41
Median Age
41%
College-Educated
95%
High-School Grad
3.2 sq mi
ZIP Area
7,214
Density / Sq Mi
$72,205
Median Household Income
$51,075
Median Earnings
$970
Median Rent
$193,200
Median Home Value
Market
Average Price Trend$/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 - Each residence offers two bedrooms, a bonus room, and a formal dining area.
Where is this duplex located?
The property is located at 229 Stillwell Avenue Tonawanda, NY.
What is the asking price?
The asking price for this property is $339,900.
What are key features of this property?
This property features: Two residences, each with 2 bedrooms and 1 full bathroom; 1938 construction with updated kitchens and bathrooms; Separate utilities; owner pays water and sewer
