Brick Duplex with
New
For Sale
$210,000
36 Wendel Avenue, Tonawanda, NY 14223
Residential, Tonawanda, NY
Property Size1,692 SF
Price / SF$124.11
Days on Market2
Property Features for 36 Wendel Avenue
General Information
Property type
Residential Multi Family
Property subtype
Other
Bedrooms
4
Bathrooms
2
Full bathrooms
2
Rooms
Bedroom 3, Bedroom 1, Basement, Bathroom 2, Bedroom 4, Bedroom 2, Bathroom 1
Parking features
Garage
Patio and Porch features
Porch
Interior features
CeilingFans, Storage, NaturalWoodwork
Exterior features
Awnings, Fence
Fencing
Fenced
Fireplace
1
Appliances
GasWaterHeater
Lot features
Near Public Transit, Rectangular, Rectangular Lot, Residential Lot
Elementary school district
Kenmore-Tonawanda Union Free District
Middle school district
Kenmore-Tonawanda Union Free District
High school district
Kenmore-Tonawanda Union Free District
Subdivision
Tonawanda-Town-146489
Standard status
Active
APN
146489-079-300-0001-011-000
Size
1,692 SF
Taxes and HOA fees
Tax Annual Amount
5323
Utilities
Heating system
Forced Air, Natural Gas
Water source
Public
Amenities
laundry
Building Details
Year built
1936
Floors in Building
2
Number of units
2
Flooring type
Hardwood, Varies, Vinyl, Carpet, Tile
Building materials
Brick, CompositeSiding, CopperPlumbing
Roof type
Asphalt
Architectural style
Other
Additional Structures
Storage
Listing Agency:
Gurney Becker & Bourne
(716) 849-1234
Listed By:
Tracy Heneghan · License #10401284827
(716) 228-1884
Added: Sep 14
Last Checked: Sep 15 at 3:06PM
MLS# B1714233
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 1936 duplex at 36 Wendel Avenue contains 1,692 square feet across two residential units, each with two bedrooms and one full bathroom. The lower apartment includes a formal dining room with hardwood flooring, a living room with a decorative fireplace and built-in bookshelves, plus a den. The upper apartment has an eat-in kitchen with a walk-in pantry. Appliances are included, and separate laundry hookups are located in the basement. Utilities, including water, are separated between the units.
The property features brick and composite-siding construction, a garage, fenced exterior areas, a porch, asphalt roofing, natural-wood details, and a public water supply. Notable improvements include basement waterproofing completed in 2016, a sump pump installed in 2017, replacement windows added in 2019, and a concrete driveway installed in 2010. The lower furnace dates to 11/2017, the upper furnace to 02/2026, and the lower hot water tank to 01/2023. The property is located in Tonawanda near UB's South Campus.
The property features brick and composite-siding construction, a garage, fenced exterior areas, a porch, asphalt roofing, natural-wood details, and a public water supply. Notable improvements include basement waterproofing completed in 2016, a sump pump installed in 2017, replacement windows added in 2019, and a concrete driveway installed in 2010. The lower furnace dates to 11/2017, the upper furnace to 02/2026, and the lower hot water tank to 01/2023. The property is located in Tonawanda near UB's South Campus.
Key Highlights
- Two‑unit duplex with 1,692 square feet and two bedrooms plus one full bath in each unit
- Separate utilities, including water, serve the two apartments
- Lower unit includes formal dining room, hardwood floors, decorative fireplace, built‑in bookshelves, and den
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
$10,879
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
5.18%
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%
$217,580
$217.6K
Cap Rate 7%
$155,414
$155.4K
Cap Rate 9%
$120,878
$120.9K
Market Conditions
NOI Build-Up for 1,692 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
$23.3K $13.80/SF
− Vacancy
−$7.8K −$4.61/SF
EGI
$15.5K $9.19/SF
− OpEx
−$4.7K −$2.76/SF
NOI
$10.9K $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%
$217,580
Cap Rate 7%
$155,414
Cap Rate 9%
$120,878
Alternative Uses
Best Use
Multifamily LT 5
$155.4K
$136.0K – $181.3K
NOI $10,879 @ 7.0% cap · market cap 5.18%
Second Best
Apartment 5plus
$139.6K
$122.1K – $162.8K
NOI $9,769 @ 7.0% cap · market cap 4.65%
Theoretical Best
Office A
$369.9K
$323.7K – $431.5K
NOI $25,892 @ 7.0% cap · market cap 12.33%
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
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
806
Businesses Nearby
Explore this area
Business Placement
Demographics for 14223, NY
22,658
Population
10,586
Households
2.1
Avg Household Size
41
Median Age
44%
College-Educated
97%
High-School Grad
3.5 sq mi
ZIP Area
6,474
Density / Sq Mi
$83,528
Median Household Income
$49,835
Median Earnings
$976
Median Rent
$202,200
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 - Two residential units offer separate utilities, basement laundry hookups, and distinct kitchen and living-area features.
Where is this duplex located?
The property is located at 36 Wendel Avenue Tonawanda, NY.
What is the asking price?
The asking price for this property is $210,000.
What are key features of this property?
This property features: Two‑unit duplex with 1,692 square feet and two bedrooms plus one full bath in each unit; Separate utilities, including water, serve the two apartments; Lower unit includes formal dining room, hardwood floors, decorative fireplace, built‑in bookshelves, and den
