Updated Brick
For Sale
$279,900
3410 Genesee St, Cheektowaga, NY 14225
Side-by-side units offer separate utilities, full basements, and parking for more than six vehicles.
Property Size1,861 SF
Days on Market85
Property Features for 3410 Genesee St
General Information
Standard status
Active
Size
1,861 SF
Property subtype
Multi Family
Taxes and HOA fees
Annual Taxes
$6,500
Building Details
Building Size
1,861 SF
Year Built
1950
Stories
2
Units
2
Listing Agency:
HUNT Real Estate ERA
(716) 232-1248
Listed By:
Mohammad Ali · License #10401373327
(716) 232-1248
Source:
Elliman
Added: Jun 9
Changed: Aug 31
Last Checked: Aug 31 at 12:35PM
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
Investment Insights
Based on property information with market context.
Built in 1950, this side-by-side brick duplex includes two residential units, each with a living room, eat-in kitchen, two upstairs bedrooms, and an updated tiled bathroom. Recent improvements include vinyl flooring, replacement windows, refreshed kitchens and bathrooms, upgraded electrical service and lighting, new interior paint, and a covered porch. Both full basements have been painted and dry-locked, with glass block windows.
The property is located at 3410 Genesee St in Cheektowaga within the Maryvale School District. It is less than two miles from the airport and is near markets, restaurants, and the highway. Separate utilities and a large parking area accommodating more than six vehicles add practical operating features.
The property is located at 3410 Genesee St in Cheektowaga within the Maryvale School District. It is less than two miles from the airport and is near markets, restaurants, and the highway. Separate utilities and a large parking area accommodating more than six vehicles add practical operating features.
Key Highlights
- Side‑by‑side brick duplex with two bedrooms in each unit
- Updated kitchens, tiled bathrooms, vinyl flooring, windows, electrical service, and lighting
- Two full basements with fresh paint, dry‑lock coating, and glass block windows
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
$11,966
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
4.28%
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%
$239,320
$239.3K
Cap Rate 7%
$170,943
$170.9K
Cap Rate 9%
$132,956
$133.0K
Market Conditions
NOI Build-Up for 1,861 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
$25.7K $13.80/SF
− Vacancy
−$8.6K −$4.61/SF
EGI
$17.1K $9.19/SF
− OpEx
−$5.1K −$2.76/SF
NOI
$12.0K $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%
$239,320
Cap Rate 7%
$170,943
Cap Rate 9%
$132,956
Alternative Uses
Best Use
Multifamily LT 5
$170.9K
$149.6K – $199.4K
NOI $11,966 @ 7.0% cap · market cap 4.28%
Second Best
Apartment 5plus
$153.5K
$134.3K – $179.1K
NOI $10,745 @ 7.0% cap · market cap 3.84%
Theoretical Best
Office A
$406.8K
$356.0K – $474.6K
NOI $28,478 @ 7.0% cap · market cap 10.17%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
470
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
Vacancy Rate% for Multifamily in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Duplex - Side-by-side units offer separate utilities, full basements, and parking for more than six vehicles.
Where is this duplex located?
The property is located at 3410 Genesee St Cheektowaga, NY.
What is the asking price?
The asking price for this property is $279,900.
What are key features of this property?
This property features: Side‑by‑side brick duplex with two bedrooms in each unit; Updated kitchens, tiled bathrooms, vinyl flooring, windows, electrical service, and lighting; Two full basements with fresh paint, dry‑lock coating, and glass block windows
