Two-Unit Residential Income
For Sale
$199,900
37 Nelson Place, Lackawanna, NY 14218
Well-maintained duplex with a covered front porch, private driveway, and detached garage, offering a 2-bedroom and 1-bedroom unit layout.
Property Size1,419 SF
Price / SF$140.87
Days on Market102
Property Features for 37 Nelson Place
General Information
Standard status
Active
Size
1,419 SF
Property subtype
Multi Family
Additional Details
Multifamily Units
2
Taxes and HOA fees
Annual Taxes
$2,809
Building Details
Building Size
1,419 SF
Year Built
1927
Tenancy
Multi
Listing Agency:
HUNT Real Estate ERA
Listed By:
Sean Mattrey · License #10301220699
(716) 807-6401
Source:
Highfallssir
Added: Jul 6
Changed: Oct 8
Last Checked: Oct 13 at 2:50AM
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 HUNT Real Estate ERA
Investment Insights
Based on property information with market context.
This well-maintained two-unit residential duplex features a 2-bedroom lower apartment and a 1-bedroom upper apartment, totaling two separate living spaces. The units are described as move-in ready with updated flooring, neutral décor, and functional layouts. Kitchens include ample cabinet space, and the bathrooms have been refreshed. A covered front porch provides an outdoor area, while a private driveway and detached garage offer off-street parking and additional storage.
The property is located near shopping, restaurants, parks, schools, and major roadways, with walk, bike, and transit scores of 65, 56, and 31, respectively.
The property is located near shopping, restaurants, parks, schools, and major roadways, with walk, bike, and transit scores of 65, 56, and 31, respectively.
Key Highlights
- 1927‑built, well‑maintained 2‑unit duplex with 1,419 sq. ft. total living space
- Unit mix features a 2‑bedroom lower apartment and a 1‑bedroom upper apartment
- Kitchens include ample cabinet space; bathrooms have been refreshed
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$14,080
Cap Rate
7.04%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$281,600
$281.6K
Cap Rate 7%
$201,143
$201.1K
Cap Rate 9%
$156,444
$156.4K
Market Conditions
NOI Build-Up for 1,419 SF
Gross rent
$21.3K $15.00/SF
− Vacancy
−$1.2K −$0.83/SF
EGI
$20.1K $14.17/SF
− OpEx
−$6.0K −$4.25/SF
NOI
$14.1K $9.92/SF
Area
Buffalo, NY
Vacancy
5.50%
Lease Rate
$15.00 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$281,600
Cap Rate 7%
$201,143
Cap Rate 9%
$156,444
Alternative Uses
Best Use
Multifamily LT 5
$201.1K
$176.0K – $234.7K
NOI $14,080 @ 7.0% cap · market cap 7.04%
Second Best
Apartment 5plus
$185.3K
$162.1K – $216.2K
NOI $12,969 @ 7.0% cap · market cap 6.49%
Theoretical Best
Office A
$341.2K
$298.6K – $398.1K
NOI $23,887 @ 7.0% cap · market cap 11.95%
Zoning and permitted uses should be independently verified with authorities.
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Current Use
Lease Details
2
Residential units
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
479
Businesses Nearby
Explore this area
Business Placement
Demographics for 14218, NY
20,878
Population
9,478
Households
2.2
Avg Household Size
38
Median Age
21%
College-Educated
88%
High-School Grad
8.1 sq mi
ZIP Area
2,578
Density / Sq Mi
$50,484
Median Household Income
$36,457
Median Earnings
$829
Median Rent
$135,000
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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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 - Well-maintained duplex with a covered front porch, private driveway, and detached garage, offering a 2-bedroom and 1-bedroom unit layout.
Where is this duplex located?
The property is located at 37 Nelson Place Lackawanna, 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: 1927‑built, well‑maintained 2‑unit duplex with 1,419 sq. ft. total living space; Unit mix features a 2‑bedroom lower apartment and a 1‑bedroom upper apartment; Kitchens include ample cabinet space; bathrooms have been refreshed
