Updated Two-Unit
New
For Sale
$325,500
25 Cotton Street, Lancaster, NY 14086
Residential, Lancaster, NY
Property Size2,150 SF
Lot Size0.30 Acres
Price / SF$151.40
Days on Market2
Property Features for 25 Cotton Street
General Information
Property type
Residential Multi Family
Property subtype
Other
Bedrooms
4
Bathrooms
2
Full bathrooms
2
Rooms
Bedroom 1, Basement, Bathroom 1, Bedroom 2, Bedroom 4, Bedroom 3, Bathroom 2
Patio and Porch features
Deck, Patio
Interior features
NaturalWoodwork
Exterior features
Deck, Patio
Appliances
GasWaterHeater
Subdivision
Holland Land Co Sec
Lot features
Rectangular, Rectangular Lot, Residential Lot
Elementary school
Como Park Elementary
Middle school
Lancaster Middle
High school
Lancaster High
Elementary school district
Lancaster
Middle school district
Lancaster
High school district
Lancaster
Directions
Central Ave to Sawyer Ave. Turn right onto Cotton St
Standard status
Active
APN
145203-104-150-0004-008-000
Size
2,150 SF
Lot size
0.30 Acres
Taxes and HOA fees
Tax Annual Amount
6570
Utilities
Heating system
Natural Gas, Baseboard
Water source
Public
Amenities
front patio
breezeway
private back deck
partially finished basement
storage
Building Details
Year built
1960
Floors in Building
2
Number of units
2
Flooring type
Vinyl, Laminate, Hardwood, Varies
Building materials
Brick, VinylSiding, CopperPlumbing
Roof type
Asphalt
Architectural style
Other
Listing Agency:
WNY Metro Roberts Realty
(716) 875-2211
Listed By:
Harry E Springer · License #10401339172
(716) 800-9797
Added: Aug 31
Last Checked: Sep 1 at 12:06PM
MLS# B1711071
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.
Located at 25 Cotton Street in Lancaster, NY, this two-unit duplex contains 2,150 square feet with two separate two-bedroom, one-bath residences. The first-floor apartment includes an eat-in kitchen with center island, dining room, living room, and access to a private rear deck. The upper unit offers a large kitchen with dining area, living room with hardwood flooring, and added closet storage. Recent improvements include newer flooring and countertops, while natural woodwork and varied flooring materials add character throughout.
The partially finished basement includes an additional full bathroom and can accommodate recreation, storage, or office use. Exterior features include a front patio, breezeway, oversized two-car garage, walk-up attic storage, and off-street parking. The property was built in 1960 and includes brick and vinyl siding, copper plumbing, a gas water heater, natural-gas baseboard heat, public water, and an asphalt roof. The lot measures 0.2957 acres.
The partially finished basement includes an additional full bathroom and can accommodate recreation, storage, or office use. Exterior features include a front patio, breezeway, oversized two-car garage, walk-up attic storage, and off-street parking. The property was built in 1960 and includes brick and vinyl siding, copper plumbing, a gas water heater, natural-gas baseboard heat, public water, and an asphalt roof. The lot measures 0.2957 acres.
Key Highlights
- Two 2‑bedroom, 1‑bath units within a 2,150‑square‑foot duplex
- 0.2957‑acre lot in Lancaster, NY
- Partially finished basement with an additional full bathroom
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
$13,824
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
4.25%
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%
$276,480
$276.5K
Cap Rate 7%
$197,486
$197.5K
Cap Rate 9%
$153,600
$153.6K
Market Conditions
NOI Build-Up for 2,150 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
$29.7K $13.80/SF
− Vacancy
−$9.9K −$4.61/SF
EGI
$19.7K $9.19/SF
− OpEx
−$5.9K −$2.76/SF
NOI
$13.8K $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%
$276,480
Cap Rate 7%
$197,486
Cap Rate 9%
$153,600
Alternative Uses
Best Use
Multifamily LT 5
$197.5K
$172.8K – $230.4K
NOI $13,824 @ 7.0% cap · market cap 4.25%
Second Best
Apartment 5plus
$177.3K
$155.2K – $206.9K
NOI $12,413 @ 7.0% cap · market cap 3.81%
Theoretical Best
Office A
$470.0K
$411.3K – $548.3K
NOI $32,900 @ 7.0% cap · market cap 10.11%
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
633
Businesses Nearby
Explore this area
Business Placement
Demographics for 14086, NY
35,010
Population
15,486
Households
2.3
Avg Household Size
44
Median Age
39%
College-Educated
95%
High-School Grad
33.3 sq mi
ZIP Area
1,051
Density / Sq Mi
$95,949
Median Household Income
$53,164
Median Earnings
$983
Median Rent
$263,600
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 - Well-maintained duplex with separate living spaces, outdoor areas, basement flexibility, and substantial parking and storage.
Where is this duplex located?
The property is located at 25 Cotton Street Lancaster, NY.
What is the asking price?
The asking price for this property is $325,500.
What are key features of this property?
This property features: Two 2‑bedroom, 1‑bath units within a 2,150‑square‑foot duplex; 0.2957‑acre lot in Lancaster, NY; Partially finished basement with an additional full bathroom
