Two-Unit
New
For Sale
$129,999
2909 Ferry Ave, Niagara Falls, NY 14301
Duplex with two residential units and a layout suited to separate occupancy.
Property Size1,408 SF
Days on Market5
Property Features for 2909 Ferry Ave
General Information
Standard status
Active
Size
1,408 SF
Property subtype
Multi Family
Property Condition
Severity
Repairs Needed
Evidence
need some TLC and cosmetic updating
Additional Details
Multifamily Units
2
Taxes and HOA fees
Annual Taxes
$1,679
Building Details
Building Size
1,408 SF
Year Built
1929
Stories
2
Units
2
Listing Agency:
(716) 222-2227
Listed By:
Kekeli Olympio
(716) 222-2227
Source:
Elliman
Added: Aug 18
Changed: Aug 19
Last Checked: Aug 22 at 6:58AM
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 Kekeli Olympio
Investment Insights
Based on property information with market context.
Located at 2909 Ferry Ave in Niagara Falls, this duplex contains two residential units, each arranged with 2 bedrooms and 1 bathroom. The property was built in 1929 and offers a straightforward configuration for separate household use. Interior improvements are needed, including cosmetic updating and general TLC, allowing the next owner to address finishes and condition according to their plans.
The existing layout can accommodate separate occupancy, with the potential for one household to use each unit. The property records a BikeScore of 54, identified as Bikeable, a WalkScore of 0, identified as Somewhat Walkable, and a TransitScore of 29, identified as Some Transit. These details provide additional context for evaluating the property’s immediate access characteristics.
The existing layout can accommodate separate occupancy, with the potential for one household to use each unit. The property records a BikeScore of 54, identified as Bikeable, a WalkScore of 0, identified as Somewhat Walkable, and a TransitScore of 29, identified as Some Transit. These details provide additional context for evaluating the property’s immediate access characteristics.
Key Highlights
- Two‑unit duplex at 2909 Ferry Ave, Niagara Falls, NY 14301
- Each unit includes 2 bedrooms and 1 bathroom
- Built in 1929
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
$10,976
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
8.44%
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%
$219,520
$219.5K
Cap Rate 7%
$156,800
$156.8K
Cap Rate 9%
$121,956
$122.0K
Market Conditions
NOI Build-Up for 1,408 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
$21.5K $15.24/SF
− Vacancy
−$1.5K −$1.07/SF
EGI
$20.0K $14.17/SF
− OpEx
−$9.0K −$6.38/SF
NOI
$11.0K $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%
$219,520
Cap Rate 7%
$156,800
Cap Rate 9%
$121,956
Alternative Uses
Best Use
Multifamily LT 5
$176.7K
$154.6K – $206.1K
NOI $12,366 @ 7.0% cap · market cap 9.51%
Second Best
Apartment 5plus
$156.8K
$137.2K – $182.9K
NOI $10,976 @ 7.0% cap · market cap 8.44%
Theoretical Best
Warehouse
$1.20M
$1.05M – $1.40M
NOI $83,746 @ 7.0% cap · market cap 64.42%
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
499
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 - Duplex with two residential units and a layout suited to separate occupancy.
Where is this duplex located?
The property is located at 2909 Ferry Ave Niagara Falls, NY.
What is the asking price?
The asking price for this property is $129,999.
What are key features of this property?
This property features: Two‑unit duplex at 2909 Ferry Ave, Niagara Falls, NY 14301; Each unit includes 2 bedrooms and 1 bathroom; Built in 1929
