Duplex with Enclosed
New
For Sale
$175,000
350 Thompson St, North Tonawanda, NY 14120
The two apartments offer separate kitchens, living areas, and laundry hookups.
Property Size1,826 SF
Days on Market2
Property Features for 350 Thompson St
General Information
Standard status
Active
Size
1,826 SF
Property subtype
Multi Family
Taxes and HOA fees
Annual Taxes
$3,518
Building Details
Building Size
1,826 SF
Year Built
1900
Stories
2
Units
2
Listing Agency:
Keller Williams Realty Buffalo Northtowns
Listed By:
Josh J Peters · License #40PE0895599
(716) 583-1348
Source:
Elliman
Added: Sep 26
Last Checked: Sep 26 at 2:58PM
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 Keller Williams Realty Buffalo Northtowns
Investment Insights
Based on property information with market context.
Built in 1900, this North Tonawanda duplex contains two apartments with different layouts. The lower residence has three bedrooms and one full bathroom, along with living and dining rooms, a kitchen, pantry, and laundry hookups. Upstairs, the one-bedroom, one-bathroom apartment includes living and dining rooms, a kitchen, and basement laundry hookups. Each unit also has a sunroom with extensive window coverage.
The property is at 350 Thompson St in North Tonawanda, New York. Its Walk Score is 63 and its Bike Score is 74.
The property is at 350 Thompson St in North Tonawanda, New York. Its Walk Score is 63 and its Bike Score is 74.
Key Highlights
- Two apartments: one with three bedrooms and one with a bedroom
- Lower unit includes pantry and laundry hookups; upper unit hookups are in the basement
- Both apartments have sunrooms with extensive 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
$16,037
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
9.16%
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%
$320,740
$320.7K
Cap Rate 7%
$229,100
$229.1K
Cap Rate 9%
$178,189
$178.2K
Market Conditions
NOI Build-Up for 1,826 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
$24.5K $13.44/SF
− Vacancy
−$1.6K −$0.89/SF
EGI
$22.9K $12.55/SF
− OpEx
−$6.9K −$3.76/SF
NOI
$16.0K $8.78/SF
Area
Niagara County, NY
Vacancy
6.65%
Lease Rate
$13.44 /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%
$320,740
Cap Rate 7%
$229,100
Cap Rate 9%
$178,189
Alternative Uses
Best Use
Multifamily LT 5
$229.1K
$200.5K – $267.3K
NOI $16,037 @ 7.0% cap · market cap 9.16%
Second Best
Apartment 5plus
$203.3K
$177.9K – $237.2K
NOI $14,234 @ 7.0% cap · market cap 8.13%
Theoretical Best
Warehouse
$1.55M
$1.36M – $1.81M
NOI $108,608 @ 7.0% cap · market cap 62.06%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Unlock full access to Insights
Subscribe to Realmo Intelligence
Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
924
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
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
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Duplex - The two apartments offer separate kitchens, living areas, and laundry hookups.
Where is this duplex located?
The property is located at 350 Thompson St North Tonawanda, NY.
What is the asking price?
The asking price for this property is $175,000.
What are key features of this property?
This property features: Two apartments: one with three bedrooms and one with a bedroom; Lower unit includes pantry and laundry hookups; upper unit hookups are in the basement; Both apartments have sunrooms with extensive windows
