Building Details

Building Size 2,295 SF

Year Built 1956

Listing Agency: WNY Metro Roberts Realty

Listed By: Gerardine C Jankowski · License #40JA1088159 Show Phone

Source: Highfallssir

Added: Sep 28 Changed: Oct 3 Last Checked: Oct 4 at 3:59PM

Report an Issue

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 WNY Metro Roberts Realty

Investment Insights

Based on property information with market context.

Built in 1956, this duplex pairs a three-bedroom main residence with a two-bedroom apartment upstairs. The main residence includes an updated kitchen connected to a large family room, a separate room suited to dining or den use, and a primary suite with a walk-in closet and access to a hot tub room. A covered deck, full basement with cedar closet, and two electrically serviced sheds add to the property’s features; the larger shed is newly built.

Recent work includes an updated roof, windows, flooring, bathroom plumbing, and the first-floor furnace and hot water tank, both installed less than five years ago. The property is at 2945 Schoolview Road in Eden, New York. Separate gas and electric service is provided for each living space.

Key Highlights

• Two‑bedroom apartment above a three‑bedroom main residence
• Separate gas and electric service for each living space
• Primary suite includes a walk‑in closet and access to a hot tub room

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

$14,756

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

4.76%

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%

$295,120 $295.1K

Cap Rate 7%

$210,800 $210.8K

Cap Rate 9%

$163,956 $164.0K

Market Conditions

NOI Build-Up for 2,295 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

$31.7K $13.80/SF

− Vacancy

−$10.6K −$4.61/SF

EGI

$21.1K $9.19/SF

− OpEx

−$6.3K −$2.76/SF

NOI

$14.8K $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%

$295,120

Cap Rate 7%

$210,800

Cap Rate 9%

$163,956

Alternative Uses

Best Use

Multifamily LT 5

$210.8K

$184.5K – $245.9K (±1% cap)

NOI $14,756 @ 7.0% cap · market cap 4.76%

Second Best

Apartment 5plus

$189.3K

$165.6K – $220.9K (±1% cap)

NOI $13,251 @ 7.0% cap · market cap 4.28%

Theoretical Best

Office A

$501.7K

$439.0K – $585.3K (±1% cap)

NOI $35,119 @ 7.0% cap · market cap 11.33%

Zoning and permitted uses should be independently verified with authorities.

Property Analytics

Unlock full access to Insights Subscribe to Realmo Intelligence

Open Analytics

Current Use

Duplexes

Suggested Use

Top Pick Auto Parts Store (Bike/Boat/Book/etc) Store Big Box & Wholesale Store Furniture & Home Goods Garden Center Storage Facility

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Lease Details

2

Residential units

Yes

Utilities to site

Location Intelligence

Trade Area within ½ mile

163

Businesses Nearby

Explore this area Business Placement

Demographics for 14057, NY

7,915

Population

3,230

Households

2.5

Avg Household Size

47

Median Age

33%

College-Educated

96%

High-School Grad

46.2 sq mi

ZIP Area

171

Density / Sq Mi

$88,750

Median Household Income

$47,083

Median Earnings

$837

Median Rent

$237,800

Median Home Value

Market

Vacancy Rate% for Multifamily in Northeast region

4% 2022

4.6% 2023

5.3% 2024

5.6% 2025

Questions? Ask Rey

Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.

What type of property is this? Where is this duplexes located? What is the asking price? Find similar properties What are key features of this property?

Similar For Sale Nearby

Restaurant and Bar With Banquet Area

8557 N Main Street, Eden, NY 14057

$290,000

3,072 SF

View details

Turn-Key Restaurant with Outdoor Seating

8178 N Main St, Eden, NY 14057

Contact for pricing

1.10 Acres

View details

Frequently Asked Questions

What type of property is this?

Duplex - Separate gas and electric service supports independent utility arrangements for the two living spaces.

Where is this duplex located?

The property is located at 2945 Schoolview Road Eden, NY.

What is the asking price?

The asking price for this property is $309,900.

What are key features of this property?

This property features: Two‑bedroom apartment above a three‑bedroom main residence; Separate gas and electric service for each living space; Primary suite includes a walk‑in closet and access to a hot tub room