Updated Side-by-Side
For Sale
$309,900
Pending
25 Sheldon Avenue, Depew, NY 14043
Residential, Depew, NY
Property Size2,296 SF
Lot Size0.23 Acres
Days on Market48
Property Features for 25 Sheldon Avenue
General Information
Property type
Residential Multi Family
Property subtype
Other
Bedrooms
5
Bathrooms
4
Full bathrooms
2
Half bathrooms
2
Rooms
Bathroom 1, Bedroom 3, Bathroom 4, Bedroom 5, Bedroom 4, Bedroom 2, Bathroom 3, Bedroom 1, Bathroom 2, Basement
Parking features
Garage
Patio and Porch features
Patio
Exterior features
FullyFenced, Fence, Patio, PrivateYard
Fencing
Fenced
Appliances
GasWaterHeater
Lot features
Near Public Transit, Rectangular, Rectangular Lot, Residential Lot
Middle school
Lancaster Middle
High school
Lancaster High
Elementary school district
Lancaster
Middle school district
Lancaster
High school district
Lancaster
Directions
Walden to Sheldon.
Subdivision
Lancaster-Village-145203
Standard status
Pending
APN
145203-104-110-0011-009-000
Size
2,296 SF
Lot size
0.23 Acres
Taxes and HOA fees
Tax Annual Amount
5182
Utilities
Heating system
Forced Air, Natural Gas
Cooling system
Central Air
Water source
Public
Amenities
patio
side yard
white picket fencing
off-street parking
stainless steel appliances
Building Details
Year built
1836
Floors in Building
2
Number of units
2
Flooring type
Varies, Tile, Vinyl
Building materials
VinylSiding
Roof type
Asphalt
Architectural style
Other
Listing Agency:
Keller Williams Realty Lancaster
(716) 324-2300
Listed By:
Timothy D Maciejewski · License #10301217558
(716) 989-7440
Added: Jul 27
Changed: Sep 11
Last Checked: Sep 12 at 11:06AM
MLS# B1701780
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.
This side-by-side duplex contains 2,296 square feet across two residences: one with three bedrooms and 1.5 baths, and another with two bedrooms and 1.5 baths. Both units include updated kitchens with white shaker cabinetry and stainless steel appliances, refreshed bathrooms, contemporary flooring, recessed lighting, and neutral interior finishes. The property also includes a gas water heater, forced-air natural gas heating, central air, vinyl siding, and an asphalt roof.
Outdoor features include a private fenced patio serving the three-bedroom unit, shared yard space, a detached two-car garage, and additional off-street parking. The 0.2314-acre parcel is located in Depew within the Lancaster Central School District. Built in 1836, the property is currently tenant occupied, and showings require 48 hours' notice.
Outdoor features include a private fenced patio serving the three-bedroom unit, shared yard space, a detached two-car garage, and additional off-street parking. The 0.2314-acre parcel is located in Depew within the Lancaster Central School District. Built in 1836, the property is currently tenant occupied, and showings require 48 hours' notice.
Key Highlights
- 2,296 square feet arranged as a side‑by‑side duplex
- Three‑bedroom, 1.5‑bath unit plus two‑bedroom, 1.5‑bath unit
- Updated kitchens with white shaker cabinets and stainless steel appliances
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
$14,763
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
4.76%
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%
$295,260
$295.3K
Cap Rate 7%
$210,900
$210.9K
Cap Rate 9%
$164,033
$164.0K
Market Conditions
NOI Build-Up for 2,296 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
$31.7K $13.80/SF
− Vacancy
−$10.6K −$4.61/SF
EGI
$21.1K $9.19/SF
− OpEx
−$6.3K −$2.76/SF
NOI
$14.8K $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%
$295,260
Cap Rate 7%
$210,900
Cap Rate 9%
$164,033
Alternative Uses
Best Use
Multifamily LT 5
$210.9K
$184.5K – $246.1K
NOI $14,763 @ 7.0% cap · market cap 4.76%
Second Best
Apartment 5plus
$189.4K
$165.7K – $220.9K
NOI $13,256 @ 7.0% cap · market cap 4.28%
Theoretical Best
Office A
$501.9K
$439.2K – $585.6K
NOI $35,134 @ 7.0% cap · market cap 11.34%
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
313
Businesses Nearby
Explore this area
Business Placement
Demographics for 14043, NY
24,962
Population
11,743
Households
2.1
Avg Household Size
45
Median Age
27%
College-Educated
94%
High-School Grad
9.1 sq mi
ZIP Area
2,743
Density / Sq Mi
$73,373
Median Household Income
$50,263
Median Earnings
$1,072
Median Rent
$192,800
Median Home Value
Check the figures for this property
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 - Two renovated residences offer flexible living arrangements, private outdoor space, garage parking, and access to Lancaster Central School District.
Where is this duplex located?
The property is located at 25 Sheldon Avenue Depew, NY.
What is the asking price?
The asking price for this property is $309,900.
What are key features of this property?
This property features: 2,296 square feet arranged as a side‑by‑side duplex; Three‑bedroom, 1.5‑bath unit plus two‑bedroom, 1.5‑bath unit; Updated kitchens with white shaker cabinets and stainless steel appliances
