Two-Unit Residential Income
For Sale
$199,900
Pending
36 Grant St, North Tonawanda, NY 14120
Historic two-family residence with freshly painted interiors, updated hot water tanks, and a large yard.
Property Size1,873 SF
Days on Market86
Property Features for 36 Grant St
General Information
Standard status
Pending
Size
1,873 SF
Property subtype
Multi Family
Additional Details
Multifamily Units
2
Taxes and HOA fees
Annual Taxes
$3,979
Building Details
Building Size
1,873 SF
Year Built
1900
Stories
2
Units
2
Listed By:
Kathleen T Peglau
(716) 983-9910
Source:
Elliman
Added: Jun 17
Changed: Aug 31
Last Checked: Sep 10 at 10:27AM
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 Kathleen T Peglau
Investment Insights
Based on property information with market context.
This historic two-family home offers a practical income-producing layout with two units featuring nicely sized rooms. The interior has been freshly painted and some newer carpeting has been added, and the property includes newer hot water tanks. A sunny enclosed porch is located on the lower level, and there is a large, dry basement.
The home sits on a quiet end of Grant and is positioned near area amenities. A blacktop driveway provides off-street parking for both units, and the property includes a large yard suitable for outdoor activities.
For sale, this property can support both investor and owner-occupant scenarios, with rent helping offset the mortgage. The enclosed porch, basement, and yard add usable space beyond the main living areas.
The home sits on a quiet end of Grant and is positioned near area amenities. A blacktop driveway provides off-street parking for both units, and the property includes a large yard suitable for outdoor activities.
For sale, this property can support both investor and owner-occupant scenarios, with rent helping offset the mortgage. The enclosed porch, basement, and yard add usable space beyond the main living areas.
Key Highlights
- Historic two‑family home built in 1900 in North Tonawanda
- Freshly painted interiors and newer carpets in the home
- Newer hot water tanks
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
$16,449
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
8.23%
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%
$328,980
$329.0K
Cap Rate 7%
$234,986
$235.0K
Cap Rate 9%
$182,767
$182.8K
Market Conditions
NOI Build-Up for 1,873 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
$25.2K $13.44/SF
− Vacancy
−$1.7K −$0.89/SF
EGI
$23.5K $12.55/SF
− OpEx
−$7.0K −$3.76/SF
NOI
$16.4K $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%
$328,980
Cap Rate 7%
$234,986
Cap Rate 9%
$182,767
Alternative Uses
Best Use
Multifamily LT 5
$235.0K
$205.6K – $274.2K
NOI $16,449 @ 7.0% cap · market cap 8.23%
Second Best
Apartment 5plus
$208.6K
$182.5K – $243.4K
NOI $14,601 @ 7.0% cap · market cap 7.30%
Theoretical Best
Warehouse
$1.59M
$1.39M – $1.86M
NOI $111,404 @ 7.0% cap · market cap 55.73%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
763
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
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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 - Historic two-family residence with freshly painted interiors, updated hot water tanks, and a large yard.
Where is this duplex located?
The property is located at 36 Grant St North Tonawanda, NY.
What is the asking price?
The asking price for this property is $199,900.
What are key features of this property?
This property features: Historic two‑family home built in 1900 in North Tonawanda; Freshly painted interiors and newer carpets in the home; Newer hot water tanks
