Updated Duplex in Depew
For Sale
$292,500
262 River Street, Depew, NY 14043
Well-maintained duplex with updates, ideal for owner-occupants or investors.
Property Size1,868 SF
Price / SF$156.58
Days on Market101
Property Features for 262 River Street
General Information
Standard status
Active
Size
1,868 SF
Property subtype
Multi Family Home
Taxes and HOA fees
Annual Taxes
$5,093
Building Details
Building Size
1,868 SF
Year Built
1930
Stories
2
Units
2
Listing Agency:
WNY Metro Roberts Realty
(716) 955-0750
Listed By:
Kristan Jakubowski · License #10401258907
(716) 955-0750
Source:
Wcirealty
Added: May 16
Changed: Aug 23
Last Checked: Aug 23 at 5:38AM
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 WNY Metro Roberts Realty
Investment Insights
Based on property information with market context.
This is an extensively updated 1868 sq. ft. duplex located in the Depew Union Free School District. Suited for both owner-occupants and investors, the property is move-in ready and offers income potential. The interior features living areas, neutral paint, updated finishes, and a remodeled lower-unit bath. Improvements include a new shingle roof (2019), rubber roofing updated 3 years ago, a dry-sealed foundation, updated electrical panels, newer cooper lines in basement 2016, HWT (2025, 2016), replacement windows (approx. 5 years), custom window blinds, and a newer sump pump (2023). Both units have central A/C, with the lower unit updated in 2016 and the upper unit updated in 2022. The lower-unit oven/range (2025) and all appliances are included in the sale. The property includes a vinyl front porch, newer front and back doors, 2 driveways, a patio, a partially fenced yard, and a shed with electric. Located near shopping, restaurants, parks, and major thruways. Tax records state 6 Bedrooms but there are 5 Bedrooms on the property and 2 full bathrooms.
Key Highlights
- Move‑in ready double in the desirable Depew Union Free School District.
- Extensively updated with a new shingle roof (2019), updated rubber roofing, dry‑sealed foundation, updated electrical panels, newer copper lines, newer HWTs, replacement windows, and newer sump pump.
- Two units, each with central A/C (lower unit 2016, upper unit 2022) and spacious living areas.
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
$12,011
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
4.11%
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%
$240,220
$240.2K
Cap Rate 7%
$171,586
$171.6K
Cap Rate 9%
$133,456
$133.5K
Market Conditions
NOI Build-Up for 1,868 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
$25.8K $13.80/SF
− Vacancy
−$8.6K −$4.61/SF
EGI
$17.2K $9.19/SF
− OpEx
−$5.1K −$2.76/SF
NOI
$12.0K $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%
$240,220
Cap Rate 7%
$171,586
Cap Rate 9%
$133,456
Alternative Uses
Best Use
Multifamily LT 5
$171.6K
$150.1K – $200.2K
NOI $12,011 @ 7.0% cap · market cap 4.11%
Second Best
Apartment 5plus
$154.1K
$134.8K – $179.8K
NOI $10,785 @ 7.0% cap · market cap 3.69%
Theoretical Best
Office A
$408.4K
$357.3K – $476.4K
NOI $28,585 @ 7.0% cap · market cap 9.77%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
388
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
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 updates, ideal for owner-occupants or investors.
Where is this duplex located?
The property is located at 262 River Street Depew, NY.
What is the asking price?
The asking price for this property is $292,500.
What are key features of this property?
This property features: Move‑in ready double in the desirable Depew Union Free School District.; Extensively updated with a new shingle roof (2019), updated rubber roofing, dry‑sealed foundation, updated electrical panels, newer copper lines, newer HWTs, replacement windows, and newer sump pump.; Two units, each with central A/C (lower unit 2016, upper unit 2022) and spacious living areas.
