Duplex with Studio
For Sale
$399,900
230 Michael Rd, Orchard Park, NY 14127
Two-level living arrangement with a separate upper studio, finished basement room, and outdoor storage.
Property Size2,220 SF
Lot Size0.66 Acres
Price / SF$180.14
Days on Market17
Property Features for 230 Michael Rd
General Information
Standard status
Active
Size
2,220 SF
Total Parking Spaces
2
Lot size
0.66 Acres
Property subtype
Multi-Family
Units
Unit Mix
1 x 2BR/1BA, 1 x studio
Multifamily Units
2
Amenities
all-season room
deck
above-ground pool
partially fenced yard
large shed
central air
Building Details
Year Built
1947
Buildings
1
Listing Agency:
WNY Metro Roberts Realty
(716) 289-1191
Listed By:
Shanan King · License #10401241121
Source:
Thejoshjamesteam
Added: Aug 16
Changed: Aug 31
Last Checked: Aug 30 at 8:04PM
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 WNY Metro Roberts Realty
Investment Insights
Based on property information with market context.
This 2,220-square-foot duplex, built in 1947, combines a two-bedroom first-floor residence with a separate second-floor studio. The main unit includes a full bath, eat-in kitchen, living room, first-floor laundry, and a window-filled all-season room that connects to the deck. The upper apartment has its own kitchen, living and sleeping area, and full bath. A finished basement room adds flexible interior space. Recent updates include central air installed in 2025, granite countertops in the kitchen and bath, and updated flooring. The basement utility tub is nonfunctional.
Set on 0.66 acres at 230 Michael Rd in Orchard Park, the property includes a two-car garage, above-ground pool, partially fenced yard, and a large shed suitable for landscaping equipment or vehicle storage. The home is within the West Seneca School District and is being sold as-is through an estate sale.
Set on 0.66 acres at 230 Michael Rd in Orchard Park, the property includes a two-car garage, above-ground pool, partially fenced yard, and a large shed suitable for landscaping equipment or vehicle storage. The home is within the West Seneca School District and is being sold as-is through an estate sale.
Key Highlights
- 2,220‑square‑foot duplex with separate first‑floor residence and second‑floor studio
- First‑floor unit offers 2 bedrooms, full bath, eat‑in kitchen, laundry, and all‑season room
- Upper studio includes a private kitchen, living/sleeping area, and 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
$14,274
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
3.57%
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%
$285,480
$285.5K
Cap Rate 7%
$203,914
$203.9K
Cap Rate 9%
$158,600
$158.6K
Market Conditions
NOI Build-Up for 2,220 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
$30.6K $13.80/SF
− Vacancy
−$10.2K −$4.61/SF
EGI
$20.4K $9.19/SF
− OpEx
−$6.1K −$2.76/SF
NOI
$14.3K $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 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%
$285,480
Cap Rate 7%
$203,914
Cap Rate 9%
$158,600
Alternative Uses
Best Use
Multifamily LT 5
$203.9K
$178.4K – $237.9K
NOI $14,274 @ 7.0% cap · market cap 3.57%
Second Best
Apartment 5plus
$183.1K
$160.2K – $213.6K
NOI $12,818 @ 7.0% cap · market cap 3.21%
Theoretical Best
Office A
$485.3K
$424.6K – $566.2K
NOI $33,971 @ 7.0% cap · market cap 8.49%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
460
Businesses Nearby
Explore this area
Business Placement
Demographics for 14127, NY
30,565
Population
13,412
Households
2.3
Avg Household Size
46
Median Age
53%
College-Educated
98%
High-School Grad
40.7 sq mi
ZIP Area
751
Density / Sq Mi
$106,071
Median Household Income
$59,902
Median Earnings
$1,196
Median Rent
$328,700
Median Home Value
Market
Vacancy Rate% for Multifamily in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Duplex - Two-level living arrangement with a separate upper studio, finished basement room, and outdoor storage.
Where is this duplex located?
The property is located at 230 Michael Rd Orchard Park, NY.
What is the asking price?
The asking price for this property is $399,900.
What are key features of this property?
This property features: 2,220‑square‑foot duplex with separate first‑floor residence and second‑floor studio; First‑floor unit offers 2 bedrooms, full bath, eat‑in kitchen, laundry, and all‑season room; Upper studio includes a private kitchen, living/sleeping area, and full bath
