Two-Unit Duplex with Covered
For Sale
$159,900
2494 Grand Avenue, Niagara Falls, NY 14301
Each residence includes an eat-in kitchen, formal living and dining rooms, and access to basement laundry hookups.
Property Size1,632 SF
Days on Market10
Property Features for 2494 Grand Avenue
General Information
Standard status
Active
Size
1,632 SF
Total Parking Spaces
2
Property subtype
Duplex
Units
Unit Mix
2 x 2BR
Multifamily Units
2
Taxes and HOA fees
Annual Taxes
$2,999
Amenities
covered porches
partially fenced yard
basement storage
laundry hookups
Building Details
Building Size
1,632 SF
Year Built
1945
Listing Agency:
HUNT Real Estate ERA
Listed By:
Sashi Dhimal · License #10401378290
(716) 491-6792
Source:
Highfallssir
Added: Sep 17
Changed: Sep 19
Last Checked: Sep 24 at 5:42PM
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 HUNT Real Estate ERA
Investment Insights
Based on property information with market context.
This 1,632-square-foot duplex, built in 1945, contains two residential units with a consistent layout. Each unit has 2 bedrooms, an eat-in kitchen, and separate living and dining rooms. Covered porches serve both units, while the basement provides storage space and laundry hookups.
The property at 2494 Grand Ave in Niagara Falls includes off-street parking for 2 cars and a partially fenced yard. Both units feature furnaces identified as 2025/2026, and the roof is approximately 8 years old. Shopping, dining, and entertainment are located nearby.
The property at 2494 Grand Ave in Niagara Falls includes off-street parking for 2 cars and a partially fenced yard. Both units feature furnaces identified as 2025/2026, and the roof is approximately 8 years old. Shopping, dining, and entertainment are located nearby.
Key Highlights
- Two residential units, each with 2 bedrooms
- 1,632 square feet; built in 1945
- Each unit includes an eat‑in kitchen plus formal living and dining rooms
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
$14,333
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
8.96%
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%
$286,660
$286.7K
Cap Rate 7%
$204,757
$204.8K
Cap Rate 9%
$159,256
$159.3K
Market Conditions
NOI Build-Up for 1,632 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
$21.9K $13.44/SF
− Vacancy
−$1.5K −$0.89/SF
EGI
$20.5K $12.55/SF
− OpEx
−$6.1K −$3.76/SF
NOI
$14.3K $8.78/SF
Area
Niagara County, NY
Vacancy
6.65%
Lease Rate
$13.44 /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%
$286,660
Cap Rate 7%
$204,757
Cap Rate 9%
$159,256
Alternative Uses
Best Use
Multifamily LT 5
$204.8K
$179.2K – $238.9K
NOI $14,333 @ 7.0% cap · market cap 8.96%
Second Best
Apartment 5plus
$181.7K
$159.0K – $212.0K
NOI $12,722 @ 7.0% cap · market cap 7.96%
Theoretical Best
Warehouse
$1.39M
$1.21M – $1.62M
NOI $97,069 @ 7.0% cap · market cap 60.71%
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
669
Businesses Nearby
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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 includes an eat-in kitchen, formal living and dining rooms, and access to basement laundry hookups.
Where is this duplex located?
The property is located at 2494 Grand Avenue Niagara Falls, NY.
What is the asking price?
The asking price for this property is $159,900.
What are key features of this property?
This property features: Two residential units, each with 2 bedrooms; 1,632 square feet; built in 1945; Each unit includes an eat‑in kitchen plus formal living and dining rooms
