Two-Unit Brick
For Sale
$174,900
353 38th Street, Niagara Falls, NY 14303
Freshly updated vacant units provide separate entrances and flexible occupancy options for an owner-occupant or rental operator.
Property Size1,824 SF
Lot Size0.11 Acres
Price / SF$95.89
Days on Market50
Property Features for 353 38th Street
General Information
Standard status
Active
Size
1,824 SF
Lot size
0.11 Acres
Property subtype
Multi Family
Additional Details
Public Transit
Yes
Multifamily Units
2
Taxes and HOA fees
Annual Taxes
$2,017
Building Details
Building Size
1,824 SF
Year Built
1955
Construction
all-brick
Listing Agency:
Hooper Realty
Listed By:
Frank A Pietrangeli · License #30PI0692526
(716) 531-3080
Source:
Highfallssir
Added: Aug 18
Changed: Sep 29
Last Checked: Oct 6 at 12:41AM
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 Hooper Realty
Investment Insights
Based on property information with market context.
This 1955 duplex at 353 38th St in Niagara Falls, NY, contains approximately 1,824 square feet arranged across two separate residences. Each unit has its own private entrance, and the property includes four bedrooms and two full baths overall. The all-brick exterior and approximately 0.11-acre city lot provide a straightforward physical layout for ownership and management.
Both units are vacant and freshly updated, allowing the next owner to determine occupancy and leasing plans. The property is near Niagara Falls attractions, shopping, restaurants, public transportation, and major routes. Walk Score is 53, Bike Score is 48, and Transit Score is 29.
Both units are vacant and freshly updated, allowing the next owner to determine occupancy and leasing plans. The property is near Niagara Falls attractions, shopping, restaurants, public transportation, and major routes. Walk Score is 53, Bike Score is 48, and Transit Score is 29.
Key Highlights
- Two‑unit duplex with separate private entrances
- Approximately 1,824 square feet with 4 bedrooms and 2 full baths overall
- All‑brick exterior on an approximately 0.11‑acre city lot
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$16,019
Cap Rate
9.16%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$320,380
$320.4K
Cap Rate 7%
$228,843
$228.8K
Cap Rate 9%
$177,989
$178.0K
Market Conditions
NOI Build-Up for 1,824 SF
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 Rate 5%
$320,380
Cap Rate 7%
$228,843
Cap Rate 9%
$177,989
Alternative Uses
Best Use
Multifamily LT 5
$228.8K
$200.2K – $267.0K
NOI $16,019 @ 7.0% cap · market cap 9.16%
Second Best
Apartment 5plus
$203.1K
$177.7K – $237.0K
NOI $14,219 @ 7.0% cap · market cap 8.13%
Theoretical Best
Warehouse
$1.55M
$1.36M – $1.81M
NOI $108,489 @ 7.0% cap · market cap 62.03%
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
197
Businesses Nearby
Explore this area
Business Placement
Demographics for 14303, NY
5,958
Population
3,505
Households
1.7
Avg Household Size
38
Median Age
16%
College-Educated
82%
High-School Grad
2.7 sq mi
ZIP Area
2,207
Density / Sq Mi
$45,519
Median Household Income
$34,623
Median Earnings
$845
Median Rent
$78,200
Median Home Value
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Market
Vacancy Rate% for Multifamily in Northeast region
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Frequently Asked Questions
What type of property is this?
Duplex - Freshly updated vacant units provide separate entrances and flexible occupancy options for an owner-occupant or rental operator.
Where is this duplex located?
The property is located at 353 38th Street Niagara Falls, NY.
What is the asking price?
The asking price for this property is $174,900.
What are key features of this property?
This property features: Two‑unit duplex with separate private entrances; Approximately 1,824 square feet with 4 bedrooms and 2 full baths overall; All‑brick exterior on an approximately 0.11‑acre city lot
