Updated Duplex with Central
For Sale
$292,500
Pending
262 River Street, Depew, NY 14043
Residential, Depew, NY
Property Size1,868 SF
Lot Size0.11 Acres
Days on Market97
Property Features for 262 River Street
General Information
Property type
Residential Multi Family
Property subtype
Other
Bedrooms
5
Bathrooms
2
Full bathrooms
2
Rooms
Basement, Bedroom 4, Bedroom 3, Bathroom 1, Bedroom 5, Bedroom 1, Bedroom 2, Bathroom 2
Patio and Porch features
Patio, Porch
Interior features
NaturalWoodwork
Exterior features
Fence, Patio
Fencing
Fenced
Appliances
GasWaterHeater
Lot features
Near Public Transit, Rectangular, Rectangular Lot, Residential Lot
High school
Depew High
Elementary school district
Depew
Middle school district
Depew
High school district
Depew
Directions
Transit Rd to Terrace Blvd to River St
Subdivision
Depew Village-Cheektowaga-143003
Standard status
Pending
APN
143003-104-690-0001-005-000
Size
1,868 SF
Lot size
0.11 Acres
Taxes and HOA fees
Tax Annual Amount
5093
Utilities
Heating system
Forced Air, Natural Gas
Cooling system
Central Air
Water source
Public
Amenities
central A/C
vinyl front porch
patio
partially fenced yard
shed with electric
custom window blinds
Building Details
Year built
1930
Floors in Building
2
Number of units
2
Flooring type
Varies, Hardwood, Carpet, Tile, Vinyl
Building materials
VinylSiding, CopperPlumbing
Roof type
Rubber, Membrane, Asphalt
Architectural style
Other
Listing Agency:
WNY Metro Roberts Realty
(716) 559-9972
Listed By:
Kristan Jakubowski · License #10401258907
(716) 955-0750
Added: May 16
Changed: Aug 20
Last Checked: Aug 20 at 3:06AM
MLS# B1681264
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 updated duplex offers two centrally cooled units and a move-in-ready layout totaling 1,868 square feet. Interior highlights include neutral paint, updated finishes, natural woodwork, and a completely remodeled lower-unit bath. The home features central A/C in both units, with the lower unit updated in 2016 and the upper unit updated in 2022.
Major exterior and systems improvements include a new shingle roof (2019), rubber roofing updated 3 years ago, a dry-sealed foundation, updated electrical panels, and newer copper plumbing lines in the basement (2016). Additional improvements include replacement windows throughout (approximately 5 years), a newer sump pump (2023), and HWT dated (2025, 2016). Heating is forced air with natural gas, and the property has a patio and fenced yard.
The property includes 2 driveways for parking, newer front and back doors, and a shed with electric for storage. Appliances are included, including the lower-unit oven/range (2025), and the home and appliances are sold in “as-is” condition. Tax records indicate 6 bedrooms, while there are 5 bedrooms on the property, and 2 full bathrooms.
Major exterior and systems improvements include a new shingle roof (2019), rubber roofing updated 3 years ago, a dry-sealed foundation, updated electrical panels, and newer copper plumbing lines in the basement (2016). Additional improvements include replacement windows throughout (approximately 5 years), a newer sump pump (2023), and HWT dated (2025, 2016). Heating is forced air with natural gas, and the property has a patio and fenced yard.
The property includes 2 driveways for parking, newer front and back doors, and a shed with electric for storage. Appliances are included, including the lower-unit oven/range (2025), and the home and appliances are sold in “as-is” condition. Tax records indicate 6 bedrooms, while there are 5 bedrooms on the property, and 2 full bathrooms.
Key Highlights
- 1,868 SF updated duplex with central A/C in both units
- New shingle roof (2019) plus rubber roofing updated 3 years ago
- Dry‑sealed foundation and updated electrical panels
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
Lease Details
2
Residential units
Yes
Highway access
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 central A/C, remodeled lower-unit bath, and recent roof, electrical, and window updates.
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: 1,868 SF updated duplex with central A/C in both units; New shingle roof (2019) plus rubber roofing updated 3 years ago; Dry‑sealed foundation and updated electrical panels
