Updated Two-Unit Residential
For Sale
$130,000
2621 Welch Avenue, Niagara Falls, NY 14303
Well-maintained duplex with two separate units, including 2-bedroom lower and 1-bedroom upper with updated systems and garage.
Property Size1,386 SF
Days on Market178
Property Features for 2621 Welch Avenue
General Information
Standard status
Active
Size
1,386 SF
Total Parking Spaces
2
Property subtype
Multi Family
Additional Details
Multifamily Units
2
Taxes and HOA fees
Annual Taxes
$1,841
Building Details
Building Size
1,386 SF
Year Built
1945
Tenancy
Multi
Listing Agency:
Howard Hanna WNY Inc.
Listed By:
Nicole Leistner · License #10401336404
(716) 228-0414
Source:
Highfallssir
Added: Mar 18
Changed: Sep 9
Last Checked: Sep 10 at 7:57AM
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 Howard Hanna WNY Inc.
Investment Insights
Based on property information with market context.
This well-maintained, fully updated two-unit duplex offers a practical live-in plus rental setup. The lower unit is configured as a 2-bedroom, 1-bath space, while the upper unit features 1 bedroom and 1 bathroom. The property includes a full walk-up attic and a full dry basement, along with a 2-car garage for parking. Recent updates include a hot water tank installed in 2021, updated copper plumbing, and updated electrical service with two separate meters.
The property is located at 2621 WELCH AVE in Niagara Falls, NY 14303. Current rental performance is described in the remarks, and the seller notes that rents may be increased.
The two separate units and metering support straightforward management as a residential income property, with parking and additional storage provided by the garage and attic.
The property is located at 2621 WELCH AVE in Niagara Falls, NY 14303. Current rental performance is described in the remarks, and the seller notes that rents may be increased.
The two separate units and metering support straightforward management as a residential income property, with parking and additional storage provided by the garage and attic.
Key Highlights
- Duplex in Niagara Falls with 2 separate units: 2‑bedroom/1‑bath lower and 1‑bedroom/1‑bath upper
- Currently generates $1,650/month in rents (per remarks), with potential to increase
- Updates include hot water tank (2021), updated copper plumbing, and updated electric with 2 separate meters
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
$10,804
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
8.31%
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%
$216,080
$216.1K
Cap Rate 7%
$154,343
$154.3K
Cap Rate 9%
$120,044
$120.0K
Market Conditions
NOI Build-Up for 1,386 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
$21.1K $15.24/SF
− Vacancy
−$1.5K −$1.07/SF
EGI
$19.6K $14.17/SF
− OpEx
−$8.8K −$6.38/SF
NOI
$10.8K $7.80/SF
Area
Niagara County, NY
Vacancy
7.00%
Lease Rate
$15.24 /SF/Yr
Expense Ratio
45.00%
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%
$216,080
Cap Rate 7%
$154,343
Cap Rate 9%
$120,044
Alternative Uses
Best Use
Multifamily LT 5
$173.9K
$152.2K – $202.9K
NOI $12,172 @ 7.0% cap · market cap 9.36%
Second Best
Apartment 5plus
$154.3K
$135.1K – $180.1K
NOI $10,804 @ 7.0% cap · market cap 8.31%
Theoretical Best
Warehouse
$1.18M
$1.03M – $1.37M
NOI $82,438 @ 7.0% cap · market cap 63.41%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
2
Residential units
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
669
Businesses Nearby
Explore this area
Business Placement
Demographics for 14303, NY
5,958
Population
3,505
Households
1.7
Avg Household Size
38
Median Age
16%
College-Educated
82%
High-School Grad
2.7 sq mi
ZIP Area
2,207
Density / Sq Mi
$45,519
Median Household Income
$34,623
Median Earnings
$845
Median Rent
$78,200
Median Home Value
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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 - Well-maintained duplex with two separate units, including 2-bedroom lower and 1-bedroom upper with updated systems and garage.
Where is this duplex located?
The property is located at 2621 Welch Avenue Niagara Falls, NY.
What is the asking price?
The asking price for this property is $130,000.
What are key features of this property?
This property features: Duplex in Niagara Falls with 2 separate units: 2‑bedroom/1‑bath lower and 1‑bedroom/1‑bath upper; Currently generates $1,650/month in rents (per remarks), with potential to increase; Updates include hot water tank (2021), updated copper plumbing, and updated electric with 2 separate meters
