Updated Two-Unit Duplex with
New
For Sale
$289,900
345 Terrace Boulevard, Depew, NY 14043
Residential, Depew, NY
Property Size2,100 SF
Lot Size0.18 Acres
Price / SF$138.05
Days on Market5
Property Features for 345 Terrace Boulevard
General Information
Property type
Residential Multi Family
Property subtype
Other
Bedrooms
6
Bathrooms
3
Full bathrooms
3
Rooms
Bathroom 1, Bedroom 5, Bedroom 3, Bedroom 2, Bathroom 2, Bathroom 3, Basement, Bedroom 4, Bedroom 6, Bedroom 1
Parking features
Open, Garage
Patio and Porch features
Deck
Exterior features
Deck, FullyFenced
Fencing
Fenced
Accessibility
Accessible Approach with Ramp
Appliances
GasWaterHeater
Lot features
Corner Lot, Rectangular, Rectangular Lot
Middle school
Depew Middle
High school
Depew High
Elementary school district
Depew
Middle school district
Depew
High school district
Depew
Directions
Transit to Terrace Blvd. 345 Terrace Blvd. is on the corner of Terrace and River, between Broadway and Walden.
Subdivision
Depew Village-Cheektowaga-143003
Standard status
Active
APN
143003-104-690-0002-001-000
Size
2,100 SF
Lot size
0.18 Acres
Taxes and HOA fees
Tax Annual Amount
6180
Utilities
Heating system
Zoned, Natural Gas, Forced Air
Cooling system
Zoned, Central Air
Water source
Public
Amenities
hardwood floors
updated kitchen
new dishwasher
central A/C
smart thermostats
smart switches
freshly painted deck
new screen doors
fully fenced-in yard
Building Details
Year built
1930
Floors in Building
1
Number of units
2
Flooring type
Carpet, Hardwood, Varies, Vinyl, Tile
Building materials
VinylSiding
Roof type
Asphalt, Shingle
Architectural style
Other
Listing Agency:
Buffalo Home Sellers LLC
(716) 471-9266
Listed By:
Brandi Bashor · License #10301221794
(732) 757-6288
Added: Sep 18
Last Checked: Sep 22 at 4:06PM
MLS# B1714265
Copyright © 2026 New York State Alliance of MLSs, LLC. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This 2,100-square-foot duplex, built in 1930, includes a lower residence with flexible bedroom and office configuration plus two full bathrooms, along with an upper apartment containing one bedroom and one bathroom. Interior features include hardwood flooring, updated kitchen areas, central air conditioning, zoned natural-gas forced-air heat, and smart thermostats and switches. The basement provides additional storage or work space.
Recent property improvements include a full tear-off asphalt shingle roof, updated chimney tuck pointing and flashing, new sewer and water lines, and new electric service with a breaker panel. Exterior amenities include a deck, fenced yard, accessible ramp approach, and a 2.5-car garage with storage loft access. The concrete driveway adds three parking spaces. The property is near Fireman's Park and offers access to shopping, restaurants, parks, and major thruways.
Recent property improvements include a full tear-off asphalt shingle roof, updated chimney tuck pointing and flashing, new sewer and water lines, and new electric service with a breaker panel. Exterior amenities include a deck, fenced yard, accessible ramp approach, and a 2.5-car garage with storage loft access. The concrete driveway adds three parking spaces. The property is near Fireman's Park and offers access to shopping, restaurants, parks, and major thruways.
Key Highlights
- 2,100‑square‑foot duplex on a 0.18‑acre lot
- Lower unit offers a flexible four- or five‑bedroom layout plus an office and 2 full bathrooms
- Upper apartment includes 1 bedroom and 1 bathroom
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
$13,502
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
4.66%
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%
$270,040
$270.0K
Cap Rate 7%
$192,886
$192.9K
Cap Rate 9%
$150,022
$150.0K
Market Conditions
NOI Build-Up for 2,100 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
$29.0K $13.80/SF
− Vacancy
−$9.7K −$4.61/SF
EGI
$19.3K $9.19/SF
− OpEx
−$5.8K −$2.76/SF
NOI
$13.5K $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 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%
$270,040
Cap Rate 7%
$192,886
Cap Rate 9%
$150,022
Alternative Uses
Best Use
Multifamily LT 5
$192.9K
$168.8K – $225.0K
NOI $13,502 @ 7.0% cap · market cap 4.66%
Second Best
Apartment 5plus
$173.2K
$151.6K – $202.1K
NOI $12,125 @ 7.0% cap · market cap 4.18%
Theoretical Best
Office A
$459.1K
$401.7K – $535.6K
NOI $32,135 @ 7.0% cap · market cap 11.08%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
388
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
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Multifamily in Northeast region
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Frequently Asked Questions
What type of property is this?
Duplex - Well-maintained duplex with flexible lower-level bedrooms, a separate upper apartment, and substantial mechanical improvements.
Where is this duplex located?
The property is located at 345 Terrace Boulevard Depew, NY.
What is the asking price?
The asking price for this property is $289,900.
What are key features of this property?
This property features: 2,100‑square‑foot duplex on a 0.18‑acre lot; Lower unit offers a flexible four- or five‑bedroom layout plus an office and 2 full bathrooms; Upper apartment includes 1 bedroom and 1 bathroom
