Two-Unit Duplex with Bonus
24 Willowlawn Pkwy, Cheektowaga, NY 14206
For Sale
New
$139,900
The front residence has three bedrooms and an upper-level bonus area, while the rear unit contains one bedroom.
Property Size1,602 SF
Days on Market2
Property Features for 24 Willowlawn Pkwy
General Information
Standard status
Size
Property subtype
Units
Unit Mix
Multifamily Units
Additional Details
Public Transit
Tenant in Place
Taxes and HOA fees
Annual Taxes
Building Details
Building Size
Year Built
Buildings
Units
Listing Agency:
Keller Williams Realty Buffalo Northtowns
Listed By:
Dalton Reynolds · License NY #10401342408
(716) 352-8679
Source:
Elliman
Added: Nov 8
Last Checked: Nov 8 at 4:25PM
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 Keller Williams Realty Buffalo Northtowns
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Investment Insights
Based on property information with market context.
This two-unit duplex was built in 1945. The front unit includes three bedrooms and a second-floor bonus space; the rear unit has one bedroom. Improvements include updated electrical breakers and two new hot water tanks.
One unit is occupied under a lease that ends at the close of November. The property is in Cheektowaga, near shopping and public transportation. Its walk score is 62, bike score is 59, and transit score is 31.
One unit is occupied under a lease that ends at the close of November. The property is in Cheektowaga, near shopping and public transportation. Its walk score is 62, bike score is 59, and transit score is 31.
Key Highlights
- Two residential units: front unit has 3 bedrooms plus second‑floor bonus space; rear unit has 1 bedroom
- Two new hot water tanks and updated electrical breakers
- Built in 1945
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$10,300
Cap Rate
7.36%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$206,000
$206.0K
Cap Rate 7%
$147,143
$147.1K
Cap Rate 9%
$114,444
$114.4K
Market Conditions
NOI Build-Up for 1,602 SF
Gross rent
$22.1K $13.80/SF
− Vacancy
−$7.4K −$4.61/SF
EGI
$14.7K $9.19/SF
− OpEx
−$4.4K −$2.76/SF
NOI
$10.3K $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 Rate 5%
$206,000
Cap Rate 7%
$147,143
Cap Rate 9%
$114,444
Alternative Uses
Best Use
Multifamily LT 5
$147.1K
$128.8K – $171.7K
NOI $10,300 @ 7.0% cap · market cap 7.36%
Second Best
Apartment 5plus
$132.1K
$115.6K – $154.2K
NOI $9,249 @ 7.0% cap · market cap 6.61%
Theoretical Best
Office A
$350.2K
$306.4K – $408.6K
NOI $24,514 @ 7.0% cap · market cap 17.52%
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
462
Businesses Nearby
Explore this area
Business Placement
Demographics for 14206, NY
21,706
Population
10,677
Households
2
Avg Household Size
38
Median Age
18%
College-Educated
87%
High-School Grad
5.0 sq mi
ZIP Area
4,341
Density / Sq Mi
$46,842
Median Household Income
$38,379
Median Earnings
$886
Median Rent
$111,600
Median Home Value
Market
Average Price Trend$/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 - The front residence has three bedrooms and an upper-level bonus area, while the rear unit contains one bedroom.
Where is this duplex located?
The property is located at 24 Willowlawn Pkwy Cheektowaga, NY.
What is the asking price?
The asking price for this property is $139,900.
What are key features of this property?
This property features: Two residential units: front unit has 3 bedrooms plus second‑floor bonus space; rear unit has 1 bedroom; Two new hot water tanks and updated electrical breakers; Built in 1945
