Duplex With Separate
For Sale
$149,900
27 Porter Street, Lockport, NY 14094
Two-unit property with parking, outdoor space, and updated exterior features.
Property Size1,638 SF
Days on Market67
Property Features for 27 Porter Street
General Information
Standard status
Active
Size
1,638 SF
Property subtype
Multi Family Home
Additional Details
Multifamily Units
2
Taxes and HOA fees
Annual Taxes
$2,293
Building Details
Building Size
1,638 SF
Year Built
1880
Stories
2
Units
2
Listing Agency:
Howard Hanna WNY Inc.
(716) 481-3746
Listed By:
Kimberly A Nemeth
(716) 481-3746
Source:
Homeprocny
Added: Jun 15
Changed: Aug 17
Last Checked: Aug 19 at 2:11PM
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 duplex includes two residential units with separate utility arrangements. Both units offer living areas, kitchens, and bedrooms, while the property also includes outdoor space and on-site parking. Exterior improvements include maintenance-free vinyl siding, vinyl thermo pane windows, a new fence, and a solid roof. The property was built in 1880 and has updated copper wiring.
The home is near shopping, dining, schools, and parks. A new park is being developed down the street. The property and surrounding area were part of a Superfund program addressing lead abatement.
The home is near shopping, dining, schools, and parks. A new park is being developed down the street. The property and surrounding area were part of a Superfund program addressing lead abatement.
Key Highlights
- Duplex with two residential units and separate utilities
- Built in 1880 with updated copper wiring
- Maintenance‑free vinyl siding and vinyl thermo pane windows
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
$12,769
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
8.52%
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%
$255,380
$255.4K
Cap Rate 7%
$182,414
$182.4K
Cap Rate 9%
$141,878
$141.9K
Market Conditions
NOI Build-Up for 1,638 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
$25.0K $15.24/SF
− Vacancy
−$1.7K −$1.07/SF
EGI
$23.2K $14.17/SF
− OpEx
−$10.4K −$6.38/SF
NOI
$12.8K $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%
$255,380
Cap Rate 7%
$182,414
Cap Rate 9%
$141,878
Alternative Uses
Best Use
Multifamily LT 5
$205.5K
$179.8K – $239.8K
NOI $14,386 @ 7.0% cap · market cap 9.60%
Second Best
Apartment 5plus
$182.4K
$159.6K – $212.8K
NOI $12,769 @ 7.0% cap · market cap 8.52%
Theoretical Best
Warehouse
$1.39M
$1.22M – $1.62M
NOI $97,426 @ 7.0% cap · market cap 64.99%
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
129
Businesses Nearby
Explore this area
Business Placement
Demographics for 14094, NY
50,969
Population
23,283
Households
2.2
Avg Household Size
42
Median Age
29%
College-Educated
92%
High-School Grad
121.7 sq mi
ZIP Area
419
Density / Sq Mi
$73,354
Median Household Income
$45,056
Median Earnings
$869
Median Rent
$186,100
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 - Two-unit property with parking, outdoor space, and updated exterior features.
Where is this duplex located?
The property is located at 27 Porter Street Lockport, NY.
What is the asking price?
The asking price for this property is $149,900.
What are key features of this property?
This property features: Duplex with two residential units and separate utilities; Built in 1880 with updated copper wiring; Maintenance‑free vinyl siding and vinyl thermo pane windows
