Duplex with Garage and
For Sale
$215,000
314 Ellington St, Cheektowaga, NY 14043
Two residential units offer flexible living arrangements with central air, updated windows, and a fenced outdoor area.
Property Size1,824 SF
Days on Market116
Property Features for 314 Ellington St
General Information
Standard status
Active
Size
1,824 SF
Property subtype
Multi Family
Units
Unit Mix
1 x 2BR/1BA, 1 x 3BR/1BA
Multifamily Units
2
Taxes and HOA fees
Annual Taxes
$6,258
Amenities
covered front porch
central air conditioning
fully fenced backyard
garage with loft
Building Details
Building Size
1,824 SF
Year Built
1942
Buildings
1
Units
2
Listing Agency:
(716) 671-3344
Listed By:
Carol Klein
(716) 671-3344
Source:
Elliman
Added: May 9
Changed: Aug 31
Last Checked: Aug 31 at 4:10PM
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 Carol Klein
Investment Insights
Based on property information with market context.
This duplex includes two residential units with distinct living areas. The lower unit has a spacious living room with hardwood flooring, one bedroom, a full bathroom, and a second bedroom currently configured as dining space. That room can be restored to bedroom use. The upper unit provides three bedrooms, an updated bathroom, a living room, and additional hardwood flooring. Vinyl siding, newer windows, and central air conditioning support everyday operation.
Exterior features include a covered front porch and a fully fenced backyard. The 2.5-car deep garage has stairs to a second-story loft that can serve as storage or workspace. Both electrical panels have been updated to 100-amp service. Built in 1942, the property was previously used as a single-family home with five bedrooms and two full bathrooms.
Exterior features include a covered front porch and a fully fenced backyard. The 2.5-car deep garage has stairs to a second-story loft that can serve as storage or workspace. Both electrical panels have been updated to 100-amp service. Built in 1942, the property was previously used as a single-family home with five bedrooms and two full bathrooms.
Key Highlights
- Two‑unit layout with one bedroom plus adaptable room downstairs and three bedrooms upstairs
- 2.5‑car deep garage with stairs to a second‑story loft
- Both electrical panels updated to 100‑amp service
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
$11,728
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
5.45%
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%
$234,560
$234.6K
Cap Rate 7%
$167,543
$167.5K
Cap Rate 9%
$130,311
$130.3K
Market Conditions
NOI Build-Up for 1,824 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
$25.2K $13.80/SF
− Vacancy
−$8.4K −$4.61/SF
EGI
$16.8K $9.19/SF
− OpEx
−$5.0K −$2.76/SF
NOI
$11.7K $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%
$234,560
Cap Rate 7%
$167,543
Cap Rate 9%
$130,311
Alternative Uses
Best Use
Multifamily LT 5
$167.5K
$146.6K – $195.5K
NOI $11,728 @ 7.0% cap · market cap 5.45%
Second Best
Apartment 5plus
$150.4K
$131.6K – $175.5K
NOI $10,531 @ 7.0% cap · market cap 4.90%
Theoretical Best
Office A
$398.7K
$348.9K – $465.2K
NOI $27,912 @ 7.0% cap · market cap 12.98%
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
415
Businesses Nearby
Explore this area
Business Placement
Demographics for 14043, NY
24,962
Population
11,743
Households
2.1
Avg Household Size
45
Median Age
27%
College-Educated
94%
High-School Grad
9.1 sq mi
ZIP Area
2,743
Density / Sq Mi
$73,373
Median Household Income
$50,263
Median Earnings
$1,072
Median Rent
$192,800
Median Home Value
Market
Vacancy Rate% for Multifamily in Northeast region
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Frequently Asked Questions
What type of property is this?
Duplex - Two residential units offer flexible living arrangements with central air, updated windows, and a fenced outdoor area.
Where is this duplex located?
The property is located at 314 Ellington St Cheektowaga, NY.
What is the asking price?
The asking price for this property is $215,000.
What are key features of this property?
This property features: Two‑unit layout with one bedroom plus adaptable room downstairs and three bedrooms upstairs; 2.5‑car deep garage with stairs to a second‑story loft; Both electrical panels updated to 100‑amp service
