Duplex Across from Pinewoods
For Sale
$214,000
Pending
326 Niagara St, North Tonawanda, NY 14120
Two spacious apartments with in-unit laundry and a large garage provide flexible residential income or owner-occupant living.
Property Size2,502 SF
Days on Market58
Property Features for 326 Niagara St
General Information
Standard status
Pending
Size
2,502 SF
Total Parking Spaces
2
Property subtype
Multi Family
Additional Details
Multifamily Units
2
Taxes and HOA fees
Annual Taxes
$4,506
Building Details
Building Size
2,502 SF
Year Built
1910
Stories
2
Units
2
Listing Agency:
(716) 480-8463
Listed By:
Christine T Greiner
(716) 480-8463
Source:
Elliman
Added: Jun 25
Changed: Aug 15
Last Checked: Aug 20 at 7:34AM
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 Christine T Greiner
Investment Insights
Based on property information with market context.
This duplex offers two spacious apartments with 2–3 bedrooms each. The lower unit includes a kitchen with a breakfast bar that opens to the dining room, plus a sliding door to a side porch, a large living room, and a half bath connected to the primary bedroom area. Apt 1 is currently using one bedroom as a laundry room. The upper unit features a similar layout, with recent flooring and carpet, a kitchen with a mix of new and vintage cabinets, in-unit laundry with a sink, and front and rear staircases. Both units provide practical storage options, including a private entry to a basement storage area tied to the upper unit. Exterior improvements include a roof that is under 10 years and maintenance-free vinyl siding.
The property sits directly across from Pinewoods Park, with convenient walking access to nearby retail and restaurants. It is also within walking distance to the Erie Canal as well as the kayak launch and docks. Gateway Park and Downtown North Tonawanda events are about 1.2 miles away. BikeScore is 78 (Very Bikeable) and WalkScore is 88 (Very Walkable).
For tenants and buyers, the layout supports straightforward day-to-day living with separate entries and a large garage that provides 2+ parking spaces. The similar unit designs, combined with in-unit laundry on the upper level and dedicated basement storage access, can make the duplex appealing for a range of residential income or live-in-and-rent scenarios.
The property sits directly across from Pinewoods Park, with convenient walking access to nearby retail and restaurants. It is also within walking distance to the Erie Canal as well as the kayak launch and docks. Gateway Park and Downtown North Tonawanda events are about 1.2 miles away. BikeScore is 78 (Very Bikeable) and WalkScore is 88 (Very Walkable).
For tenants and buyers, the layout supports straightforward day-to-day living with separate entries and a large garage that provides 2+ parking spaces. The similar unit designs, combined with in-unit laundry on the upper level and dedicated basement storage access, can make the duplex appealing for a range of residential income or live-in-and-rent scenarios.
Key Highlights
- Directly across from Pinewoods Park, with walking access to retail, restaurants, Erie Canal, and kayak launch & docks
- Two spacious apartments, each with 2–3 bedrooms; Apt 1 includes one bedroom currently used as a laundry room
- In‑unit laundry for both units, including a laundry area with a sink
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
$19,504
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
9.11%
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%
$390,080
$390.1K
Cap Rate 7%
$278,629
$278.6K
Cap Rate 9%
$216,711
$216.7K
Market Conditions
NOI Build-Up for 2,502 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
$38.1K $15.24/SF
− Vacancy
−$2.7K −$1.07/SF
EGI
$35.5K $14.17/SF
− OpEx
−$16.0K −$6.38/SF
NOI
$19.5K $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%
$390,080
Cap Rate 7%
$278,629
Cap Rate 9%
$216,711
Alternative Uses
Best Use
Multifamily LT 5
$313.9K
$274.7K – $366.2K
NOI $21,973 @ 7.0% cap · market cap 10.27%
Second Best
Apartment 5plus
$278.6K
$243.8K – $325.1K
NOI $19,504 @ 7.0% cap · market cap 9.11%
Theoretical Best
Warehouse
$2.13M
$1.86M – $2.48M
NOI $148,816 @ 7.0% cap · market cap 69.54%
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
786
Businesses Nearby
Explore this area
Business Placement
Demographics for 14120, NY
44,538
Population
20,367
Households
2.2
Avg Household Size
45
Median Age
30%
College-Educated
94%
High-School Grad
32.6 sq mi
ZIP Area
1,366
Density / Sq Mi
$76,608
Median Household Income
$47,014
Median Earnings
$932
Median Rent
$205,300
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 - Two spacious apartments with in-unit laundry and a large garage provide flexible residential income or owner-occupant living.
Where is this duplex located?
The property is located at 326 Niagara St North Tonawanda, NY.
What is the asking price?
The asking price for this property is $214,000.
What are key features of this property?
This property features: Directly across from Pinewoods Park, with walking access to retail, restaurants, Erie Canal, and kayak launch & docks; Two spacious apartments, each with 2–3 bedrooms; Apt 1 includes one bedroom currently used as a laundry room; In‑unit laundry for both units, including a laundry area with a sink
