Two-Family Duplex on Corner
For Sale
$159,900
2821 Walnut Avenue, Niagara Falls, NY 14301
Well-maintained two-family duplex on an oversized, fully fenced corner lot with two open porches and an attached one-car garage.
Property Size1,776 SF
Days on Market35
Property Features for 2821 Walnut Avenue
General Information
Standard status
Active
Size
1,776 SF
Property subtype
Multi Family
Amenities
open porches
rear deck
Building Details
Building Size
1,776 SF
Year Built
1910
Buildings
1
Tenancy
Multi
Listing Agency:
Deal Realty, Inc.
(716) 940-0548
Listed By:
Cheryl Deal · License #10311205717
(716) 940-0548
Source:
Highfallssir
Added: Jul 2
Changed: Jul 30
Last Checked: Aug 4 at 8:31AM
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 Deal Realty, Inc.
Investment Insights
Based on property information with market context.
2821 Walnut Avenue in Niagara Falls, NY 14301 presents a well-maintained two-family duplex that has been owner-occupied for over 18 years. The property sits on an oversized, fully fenced corner lot with mature trees, flowering bushes, and gardens, offering privacy and an inviting outdoor setting. Outside, you’ll find two open porches, a rear deck, and a generous yard designed for relaxing and entertaining.
The home includes a one-car attached garage plus additional driveway parking serving the second-floor apartment. The lot is spacious enough to potentially add more parking off the alley on the side of the property.
Inside, the first-floor unit features a mudroom area, a bright eat-in kitchen with included appliances, and a large family room with sliding glass door access to the backyard. The living room can serve as a formal dining area, office, or den, and the unit includes a full bath and two bedrooms (one with a double closet, one with an oversized closet and bay window). This unit also has direct basement access with a washer, dryer, refrigerator, stand-up freezer, workbench, and extensive storage.
The second-floor apartment has its own private entrance and includes a mudroom, eat-in kitchen, living room, and a large bedroom. The property was built in 1910.
The home includes a one-car attached garage plus additional driveway parking serving the second-floor apartment. The lot is spacious enough to potentially add more parking off the alley on the side of the property.
Inside, the first-floor unit features a mudroom area, a bright eat-in kitchen with included appliances, and a large family room with sliding glass door access to the backyard. The living room can serve as a formal dining area, office, or den, and the unit includes a full bath and two bedrooms (one with a double closet, one with an oversized closet and bay window). This unit also has direct basement access with a washer, dryer, refrigerator, stand-up freezer, workbench, and extensive storage.
The second-floor apartment has its own private entrance and includes a mudroom, eat-in kitchen, living room, and a large bedroom. The property was built in 1910.
Key Highlights
- Oversized, fully fenced corner lot with mature trees, flowering bushes, and gardens
- Two‑family layout with private second‑floor entrance and owner‑occupied for over 18 years
- One‑car attached garage plus additional driveway parking for the second‑floor apartment
Financial Insights For Apartment 5plus
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $27.1k | $15.24 |
| − Vacancy | −$1.9k | −$1.07 |
| EGI | $25.2k | $14.17 |
| − OpEx | −$11.3k | −$6.38 |
| NOI | $13.8k | $7.80 |
1,776 SF · lease $15.24/SF/yr · vacancy 7.00% · expense 45.00%
Alternative Uses
Best Use
Multifamily LT 5
$222.8K
$195.0K – $260.0K
NOI $15,597 @ 7.0% cap · market cap 9.75%
Second Best
Apartment 5plus
$197.8K
$173.1K – $230.7K
NOI $13,844 @ 7.0% cap · market cap 8.66%
Theoretical Best
Warehouse
$1.51M
$1.32M – $1.76M
NOI $105,634 @ 7.0% cap · market cap 66.06%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
497
Businesses Nearby
Explore this area
Business Placement
Demographics for 14301, NY
12,618
Population
7,285
Households
1.7
Avg Household Size
38
Median Age
18%
College-Educated
85%
High-School Grad
2.1 sq mi
ZIP Area
6,009
Density / Sq Mi
$37,650
Median Household Income
$32,909
Median Earnings
$722
Median Rent
$79,200
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?
Duplex - Well-maintained two-family duplex on an oversized, fully fenced corner lot with two open porches and an attached one-car garage.
Where is this duplex located?
The property is located at 2821 Walnut Avenue Niagara Falls, NY.
What is the asking price?
The asking price for this property is $159,900.
What are key features of this property?
This property features: Oversized, fully fenced corner lot with mature trees, flowering bushes, and gardens; Two‑family layout with private second‑floor entrance and owner‑occupied for over 18 years; One‑car attached garage plus additional driveway parking for the second‑floor apartment
