Duplex with Heated Garage
For Sale
$469,900
Pending
269 Broezel Avenue, Lancaster, NY 14086
Residential, Lancaster, NY
Property Size2,564 SF
Lot Size0.21 Acres
Days on Market72
Property Features for 269 Broezel Avenue
General Information
Property type
Residential Multi Family
Property subtype
Other
Bedrooms
4
Bathrooms
3
Full bathrooms
3
Rooms
Bedroom 1, Bathroom 1, Bathroom 2, Basement, Bathroom 3, Bedroom 3, Bedroom 4, Bedroom 2
Parking features
Open, Garage
Spa
1
Window features
Drapes
Patio and Porch features
Patio
Interior features
CeilingFans, HotTubSpa, WindowTreatments
Exterior features
FullyFenced, HotTubSpa, Patio
Fencing
Fenced
Appliances
GasWaterHeater
Subdivision
Holland Land Company's Su
Lot features
Rectangular, Rectangular Lot, Residential Lot
Elementary school district
Lancaster
Middle school district
Lancaster
High school district
Lancaster
Directions
Walden
Standard status
Pending
APN
145289-093-200-0001-028-000
Size
2,564 SF
Lot size
0.21 Acres
Taxes and HOA fees
Tax Annual Amount
6744
Utilities
Heating system
Baseboard, Natural Gas
Cooling system
Central Air
Water source
Public
Amenities
heated and cooled garage
loft space
finished lower level with full bath
Generac generator
large patio
oversized driveway
Building Details
Year built
1965
Floors in Building
1
Number of units
2
Flooring type
Varies, Laminate, Vinyl, Carpet
Building materials
Brick, VinylSiding, CopperPlumbing
Roof type
Shingle, Asphalt
Architectural style
Other
Listing Agency:
WNY Metro Roberts Realty
(716) 646-6400
Listed By:
Jerry Harrington · License #10401332436
(818) 605-1169
Added: Jun 10
Changed: Aug 19
Last Checked: Aug 20 at 2:06AM
MLS# B1689107
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 duplex includes a main home with an open feel and two oversized bedrooms, along with a separate two-bedroom apartment designed to add flexibility for extended family, guests, or other arrangements. The property also features a heated and cooled garage with loft space above, plus a finished lower level with a full bath. Interior amenities include ceiling fans, window treatments, and gas hot water service. Heating is provided by natural gas baseboard, and cooling is through central air.
Additional exterior features include a large patio, fully fenced yard space, and an oversized driveway with garage parking. A Generac generator is included. The home is of brick and vinyl siding construction and sits on a 0.2146-acre lot, built in 1965. Public water and an asphalt shingle roof support day-to-day use.
With four total bedrooms and three bathrooms across the main and separate apartment spaces, this layout may appeal to buyers looking for multiple living options within a single property setup.
Additional exterior features include a large patio, fully fenced yard space, and an oversized driveway with garage parking. A Generac generator is included. The home is of brick and vinyl siding construction and sits on a 0.2146-acre lot, built in 1965. Public water and an asphalt shingle roof support day-to-day use.
With four total bedrooms and three bathrooms across the main and separate apartment spaces, this layout may appeal to buyers looking for multiple living options within a single property setup.
Key Highlights
- 0.2146‑acre lot with 2,564 SF duplex built in 1965
- Heated and cooled garage with loft space above
- Separate two‑bedroom apartment plus main home with two oversized bedrooms
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
$16,486
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
3.51%
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%
$329,720
$329.7K
Cap Rate 7%
$235,514
$235.5K
Cap Rate 9%
$183,178
$183.2K
Market Conditions
NOI Build-Up for 2,564 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
$35.4K $13.80/SF
− Vacancy
−$11.8K −$4.61/SF
EGI
$23.6K $9.19/SF
− OpEx
−$7.1K −$2.76/SF
NOI
$16.5K $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%
$329,720
Cap Rate 7%
$235,514
Cap Rate 9%
$183,178
Alternative Uses
Best Use
Multifamily LT 5
$235.5K
$206.1K – $274.8K
NOI $16,486 @ 7.0% cap · market cap 3.51%
Second Best
Apartment 5plus
$211.5K
$185.1K – $246.7K
NOI $14,804 @ 7.0% cap · market cap 3.15%
Theoretical Best
Office A
$560.5K
$490.4K – $653.9K
NOI $39,235 @ 7.0% cap · market cap 8.35%
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
186
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 - Duplex offering two-bedroom main home options plus a separate two-bedroom apartment, with central air and a heated garage loft.
Where is this duplex located?
The property is located at 269 Broezel Avenue Lancaster, NY.
What is the asking price?
The asking price for this property is $469,900.
What are key features of this property?
This property features: 0.2146‑acre lot with 2,564 SF duplex built in 1965; Heated and cooled garage with loft space above; Separate two‑bedroom apartment plus main home with two oversized bedrooms
