Residential Income
For Sale
$139,000
3040 Monroe Avenue, Niagara Falls, NY 14303
Multiunit residential income property for sale with BikeScore 54 and WalkScore 66.
Property Size1,320 SF
Days on Market60
Property Features for 3040 Monroe Avenue
General Information
Standard status
Active
Size
1,320 SF
Property subtype
Multi Family Home
Taxes and HOA fees
Annual Taxes
$1,639
Building Details
Building Size
1,320 SF
Year Built
1925
Stories
2
Units
2
Listing Agency:
Blue Eagle Realty Corp.
(716) 436-1296
Listed By:
Alan Findlay · License #10401299791
(716) 436-1296
Source:
Northstarwny
Added: Jun 26
Changed: Aug 23
Last Checked: Aug 22 at 7:29AM
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 Blue Eagle Realty Corp.
Investment Insights
Based on property information with market context.
Residential income property for sale at 3040 Monroe Ave in Niagara Falls, NY. The property is characterized by an overall accessibility profile reflected by BikeScore 54 and WalkScore 66.
Transit access is rated with a transit score of 29. For prospective tenants or buyers, these walk and bike ratings can be useful for understanding day-to-day access to nearby amenities and services.
Transit access is rated with a transit score of 29. For prospective tenants or buyers, these walk and bike ratings can be useful for understanding day-to-day access to nearby amenities and services.
Key Highlights
- Year built: 1925
- BikeScore: 54 (Bikeable)
- WalkScore: 66 (Somewhat Walkable)
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
$10,290
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
7.40%
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%
$205,800
$205.8K
Cap Rate 7%
$147,000
$147.0K
Cap Rate 9%
$114,333
$114.3K
Market Conditions
NOI Build-Up for 1,320 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
$20.1K $15.24/SF
− Vacancy
−$1.4K −$1.07/SF
EGI
$18.7K $14.17/SF
− OpEx
−$8.4K −$6.38/SF
NOI
$10.3K $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%
$205,800
Cap Rate 7%
$147,000
Cap Rate 9%
$114,333
Alternative Uses
Best Use
Apartment 5plus
$147.0K
$128.6K – $171.5K
NOI $10,290 @ 7.0% cap · market cap 7.40%
Second Best
—
—
no second resolved use
Theoretical Best
Warehouse
$1.12M
$981.4K – $1.31M
NOI $78,512 @ 7.0% cap · market cap 56.48%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
347
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
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Multifamily property - Multiunit residential income property for sale with BikeScore 54 and WalkScore 66.
Where is this multifamily property located?
The property is located at 3040 Monroe Avenue Niagara Falls, NY.
What is the asking price?
The asking price for this property is $139,000.
What are key features of this property?
This property features: Year built: 1925; BikeScore: 54 (Bikeable); WalkScore: 66 (Somewhat Walkable)
