Two-Unit Duplex with Remodeled
New
For Sale
$135,000
2401 Grand Ave, Niagara Falls, NY 14301
Each residence has two bedrooms, a dining room, and a spacious layout suited to residential occupancy.
Property Size1,540 SF
Days on Market2
Property Features for 2401 Grand Ave
General Information
Standard status
Active
Size
1,540 SF
Total Parking Spaces
4
Property subtype
Multi Family
Units
Unit Mix
2 x 2BR
Multifamily Units
2
Additional Details
Public Transit
Yes
Taxes and HOA fees
Annual Taxes
$2,972
Amenities
beautifully landscaped
private backyard
full attic
full basement
Building Details
Building Size
1,540 SF
Year Built
1935
Buildings
1
Units
2
Listing Agency:
Keller Williams Realty Buffalo Northtowns
Listed By:
Pratheep Sakas · License #10401360535
(716) 628-4901
Source:
Elliman
Added: Oct 4
Last Checked: Oct 4 at 2:15PM
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
Investment Insights
Based on property information with market context.
This 1935 duplex contains two apartments, each with two bedrooms and a dining room. Remodeled kitchens, natural woodwork, and generously sized living areas give the units a residential layout. A full attic and basement provide additional storage, while the landscaped grounds include a backyard framed by mature trees.
Property updates include glass block windows, two new furnaces, and two new hot water tanks. Four parking spaces are located behind the house. Shopping and bus lines are a short distance away.
Property updates include glass block windows, two new furnaces, and two new hot water tanks. Four parking spaces are located behind the house. Shopping and bus lines are a short distance away.
Key Highlights
- Two apartments, each with 2 bedrooms and a dining room
- Remodeled kitchens and natural woodwork throughout
- Two new furnaces and hot water tanks
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
$12,005
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
8.89%
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%
$240,100
$240.1K
Cap Rate 7%
$171,500
$171.5K
Cap Rate 9%
$133,389
$133.4K
Market Conditions
NOI Build-Up for 1,540 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
$23.5K $15.24/SF
− Vacancy
−$1.6K −$1.07/SF
EGI
$21.8K $14.17/SF
− OpEx
−$9.8K −$6.38/SF
NOI
$12.0K $7.80/SF
Area
Niagara County, NY
Vacancy
7.00%
Lease Rate
$15.24 /SF/Yr
Expense Ratio
45.00%
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%
$240,100
Cap Rate 7%
$171,500
Cap Rate 9%
$133,389
Alternative Uses
Best Use
Multifamily LT 5
$193.2K
$169.1K – $225.4K
NOI $13,525 @ 7.0% cap · market cap 10.02%
Second Best
Apartment 5plus
$171.5K
$150.1K – $200.1K
NOI $12,005 @ 7.0% cap · market cap 8.89%
Theoretical Best
Warehouse
$1.31M
$1.14M – $1.53M
NOI $91,597 @ 7.0% cap · market cap 67.85%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
737
Businesses Nearby
Explore this area
Business Placement
Demographics for 14301, NY
12,618
Population
7,285
Households
1.7
Avg Household Size
38
Median Age
18%
College-Educated
85%
High-School Grad
2.1 sq mi
ZIP Area
6,009
Density / Sq Mi
$37,650
Median Household Income
$32,909
Median Earnings
$722
Median Rent
$79,200
Median Home Value
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Market
Vacancy Rate% for Multifamily in Northeast region
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Frequently Asked Questions
What type of property is this?
Duplex - Each residence has two bedrooms, a dining room, and a spacious layout suited to residential occupancy.
Where is this duplex located?
The property is located at 2401 Grand Ave Niagara Falls, NY.
What is the asking price?
The asking price for this property is $135,000.
What are key features of this property?
This property features: Two apartments, each with 2 bedrooms and a dining room; Remodeled kitchens and natural woodwork throughout; Two new furnaces and hot water tanks
