Triplex With Two-Car
New
For Sale
$200,000
2710 Monroe Ave, Niagara Falls, NY 14303
Residential income property with a varied unit mix and convenient on-site parking.
Property Size1,932 SF
Days on Market4
Property Features for 2710 Monroe Ave
General Information
Standard status
Active
Size
1,932 SF
Property subtype
Multi Family
Taxes and HOA fees
Annual Taxes
$2,300
Building Details
Building Size
1,932 SF
Year Built
1928
Stories
2
Units
3
Listing Agency:
Red Door Real Estate WNY LLC
(917) 283-0352
Listed By:
Awais Rehman · License #10301223794
(917) 283-0352
Source:
Elliman
Added: Aug 8
Changed: Aug 9
Last Checked: Aug 10 at 5:11AM
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 Red Door Real Estate WNY LLC
Investment Insights
Based on property information with market context.
This three-unit residential property includes two one-bedroom apartments and one two-bedroom apartment, creating a diversified unit mix within a single building. A two-car garage provides enclosed parking for residents. Constructed in 1928, the property is configured as a triplex and is offered for sale.
The property is located at 2710 Monroe Ave in Niagara Falls, NY. WalkScore is 66, categorized as Somewhat Walkable; BikeScore is 54, categorized as Bikeable; and TransitScore is 29, indicating Some Transit. Shopping, schools, public transportation, and other major amenities are identified in the surrounding area.
The property is located at 2710 Monroe Ave in Niagara Falls, NY. WalkScore is 66, categorized as Somewhat Walkable; BikeScore is 54, categorized as Bikeable; and TransitScore is 29, indicating Some Transit. Shopping, schools, public transportation, and other major amenities are identified in the surrounding area.
Key Highlights
- Three‑unit property with two 1‑bedroom apartments and one 2‑bedroom apartment
- Two‑car garage included with the building
- Constructed in 1928
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
$16,968
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
8.48%
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%
$339,360
$339.4K
Cap Rate 7%
$242,400
$242.4K
Cap Rate 9%
$188,533
$188.5K
Market Conditions
NOI Build-Up for 1,932 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
$26.0K $13.44/SF
− Vacancy
−$1.7K −$0.89/SF
EGI
$24.2K $12.55/SF
− OpEx
−$7.3K −$3.76/SF
NOI
$17.0K $8.78/SF
Area
Niagara County, NY
Vacancy
6.65%
Lease Rate
$13.44 /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%
$339,360
Cap Rate 7%
$242,400
Cap Rate 9%
$188,533
Alternative Uses
Best Use
Multifamily LT 5
$242.4K
$212.1K – $282.8K
NOI $16,968 @ 7.0% cap · market cap 8.48%
Second Best
Apartment 5plus
$215.1K
$188.3K – $251.0K
NOI $15,060 @ 7.0% cap · market cap 7.53%
Theoretical Best
Warehouse
$1.64M
$1.44M – $1.92M
NOI $114,913 @ 7.0% cap · market cap 57.46%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
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
Market
Vacancy Rate% for Multifamily in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Triplex - Residential income property with a varied unit mix and convenient on-site parking.
Where is this triplex located?
The property is located at 2710 Monroe Ave Niagara Falls, NY.
What is the asking price?
The asking price for this property is $200,000.
What are key features of this property?
This property features: Three‑unit property with two 1‑bedroom apartments and one 2‑bedroom apartment; Two‑car garage included with the building; Constructed in 1928
