Duplex with Two-Unit
3 Redwood Drive, Cheektowaga, NY 14225
For Sale
$184,900
Separate utility meters, basement storage, and off-street parking serve the two residences.
Property Size1,484 SF
Price / SF$124.60
Days on Market25
Property Features for 3 Redwood Drive
General Information
Standard status
Size
Property subtype
Property Condition
Severity
Evidence
Units
Unit Mix
Multifamily Units
Individually Metered Utilities
Taxes and HOA fees
Annual Taxes
Amenities
hardwood floors
separate patio areas
basement storage
off-street parking
Other
See Remarks
Building Details
Building Size
Year Built
Stories
Units
Listing Agency:
HUNT Real Estate ERA
(716) 633-5350
Listed By:
Amy Triplet · License NY #10401257532
(716) 913-1827
Source:
Deeprootedrealty
Added: Oct 16
Changed: Nov 9
Last Checked: Nov 9 at 3:06PM
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 HUNT Real Estate ERA
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Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
This 1,484-square-foot duplex contains two units: one with three bedrooms and another with one bedroom. Both have hardwood floors, practical layouts, and individual patio areas. Basement storage and off-street parking are also part of the property, and each unit has separate utilities and meters. Built in 1944, the building has received some updates and still requires finishing work.
The property is at 3 Redwood Drive in Cheektowaga, New York, near shopping, dining, and major roadways.
The property is at 3 Redwood Drive in Cheektowaga, New York, near shopping, dining, and major roadways.
Key Highlights
- Two units: one three‑bedroom residence and one one‑bedroom residence
- 1,484 square feet; built in 1944
- Hardwood floors and separate patio areas in both units
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$9,542
Cap Rate
5.16%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$190,840
$190.8K
Cap Rate 7%
$136,314
$136.3K
Cap Rate 9%
$106,022
$106.0K
Market Conditions
NOI Build-Up for 1,484 SF
Gross rent
$20.5K $13.80/SF
− Vacancy
−$6.8K −$4.61/SF
EGI
$13.6K $9.19/SF
− OpEx
−$4.1K −$2.76/SF
NOI
$9.5K $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 Rate 5%
$190,840
Cap Rate 7%
$136,314
Cap Rate 9%
$106,022
Alternative Uses
Best Use
Multifamily LT 5
$136.3K
$119.3K – $159.0K
NOI $9,542 @ 7.0% cap · market cap 5.16%
Second Best
Apartment 5plus
$122.4K
$107.1K – $142.8K
NOI $8,568 @ 7.0% cap · market cap 4.63%
Theoretical Best
Office A
$324.4K
$283.9K – $378.5K
NOI $22,709 @ 7.0% cap · market cap 12.28%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
245
Businesses Nearby
Explore this area
Business Placement
Demographics for 14225, NY
34,066
Population
16,253
Households
2.1
Avg Household Size
41
Median Age
29%
College-Educated
93%
High-School Grad
11.5 sq mi
ZIP Area
2,962
Density / Sq Mi
$65,562
Median Household Income
$44,408
Median Earnings
$937
Median Rent
$154,500
Median Home Value
Market
Average Price Trend$/SF for Duplexes in Erie County, NY
Properties on Market for Duplexes in Erie County
Vacancy Rate% for Multifamily in Northeast region
Frequently Asked Questions
What type of property is this?
Duplex - Separate utility meters, basement storage, and off-street parking serve the two residences.
Where is this duplex located?
The property is located at 3 Redwood Drive Cheektowaga, NY.
What is the asking price?
The asking price for this property is $184,900.
What are key features of this property?
This property features: Two units: one three‑bedroom residence and one one‑bedroom residence; 1,484 square feet; built in 1944; Hardwood floors and separate patio areas in both units
