Duplex with Remodeled
New
For Sale
$135,000
2401 Grand Avenue, Niagara Falls, NY 14301
Residential, Niagara Falls, NY
Property Size1,540 SF
Lot Size0.09 Acres
Price / SF$87.66
Days on Market3
Property Features for 2401 Grand Avenue
General Information
Property type
Residential Multi Family
Property subtype
Other
Bedrooms
4
Bathrooms
2
Full bathrooms
2
Rooms
Bedroom 4, Bedroom 3, Bedroom 1, Basement, Bathroom 2, Bedroom 2, Bathroom 1
Appliances
GasWaterHeater
Subdivision
Mile Reserve
Lot features
Corner Lot, Irregular Lot
Elementary school district
Niagara Falls
Middle school district
Niagara Falls
High school district
Niagara Falls
Directions
GPS
Standard status
Active
APN
291100-144-082-0002-001-000
Size
1,540 SF
Lot size
0.09 Acres
Taxes and HOA fees
Tax Annual Amount
2972
Utilities
Heating system
Natural Gas, Forced Air
Water source
Public
Building Details
Year built
1935
Floors in Building
1
Number of units
2
Flooring type
Varies, Carpet
Building materials
CompositeSiding
Listing Agency:
Keller Williams Realty WNY
(716) 832-3300
Listed By:
Pratheep Sakas · License #10401360535
(716) 628-4901
Added: Oct 3
Last Checked: Oct 5 at 5:06AM
MLS# B1717854
Copyright © 2026 New York State Alliance of MLSs, LLC. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
Built in 1935, this 1,540-square-foot duplex contains two apartments, each with two bedrooms, a dining room and a remodeled kitchen. The property has natural woodwork, glass-block windows, varied flooring and a full attic and basement. Recent equipment updates include two natural-gas furnaces and two hot water tanks.
The 0.0861-acre parcel includes a landscaped yard, a backyard with mature trees and parking for four vehicles behind the house. Shopping and bus lines are a short distance away. The property is located at 2401 Grand Avenue in Niagara Falls.
The 0.0861-acre parcel includes a landscaped yard, a backyard with mature trees and parking for four vehicles behind the house. Shopping and bus lines are a short distance away. The property is located at 2401 Grand Avenue in Niagara Falls.
Key Highlights
- Two apartments, each with two bedrooms, a dining room and a remodeled kitchen
- 1,540 square feet; built in 1935
- Two new natural‑gas furnaces and two new 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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Cap Rate, Value Estimation, Potential NOI and more
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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 - Both apartments include two bedrooms and a dining room, with attic and basement storage.
Where is this duplex located?
The property is located at 2401 Grand Avenue 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 two bedrooms, a dining room and a remodeled kitchen; 1,540 square feet; built in 1935; Two new natural‑gas furnaces and two new hot water tanks
