Duplex With Detached
For Sale
$289,900
Pending
372 Aurora Street, Lancaster, NY 14086
Residential, Lancaster, NY
Property Size1,852 SF
Lot Size0.25 Acres
Days on Market92
Property Features for 372 Aurora Street
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Bedrooms
4
Bathrooms
2
Full bathrooms
2
Rooms
Basement, Bathroom 2, Bedroom 2, Bedroom 1, Bedroom 4, Bathroom 1, Bedroom 3
Parking features
Garage
Spa
1
Patio and Porch features
Porch
Exterior features
Awnings, Fence, HotTubSpa
Fencing
Fenced
Appliances
OilWaterHeater
Lot features
Corner Lot, Rectangular, Rectangular Lot, Residential Lot
Elementary school district
Lancaster
Middle school district
Lancaster
High school district
Lancaster
Directions
Take Walden Avenue East (past Transit Road) to Central Avenue. Turn right (South) onto Central Avenue. The property will be on your left-hand side, located between Walden Avenue and Brady Avenue.
Subdivision
Lancaster-Village-145203
Standard status
Pending
APN
145203-115-570-0001-006-000
Size
1,852 SF
Lot size
0.25 Acres
Taxes and HOA fees
Tax Annual Amount
5545
Utilities
Heating system
Forced Air, Oil
Cooling system
Central Air
Water source
Public
Amenities
covered front porch
detached garage
fenced backyard
whole-house standby generator
Building Details
Year built
1950
Floors in Building
2
Number of units
2
Flooring type
Varies, Vinyl, Carpet, Hardwood
Building materials
VinylSiding
Roof type
Asphalt, Shingle
Architectural style
Other
Listing Agency:
Keller Williams Realty WNY
(716) 832-3300
Listed By:
Jennifer R Goetz · License #10301223110
(716) 316-6664
Added: May 25
Changed: Aug 22
Last Checked: Aug 24 at 6:06PM
MLS# B1683736
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 1,852-square-foot duplex includes two residential units with distinct layouts. The lower residence is vacant and features an open living and dining area, vinyl floors, an updated kitchen with granite counters, breakfast-bar seating, subway tile, and stainless-steel appliances, plus a renovated full bathroom. The upper residence offers a large living room, eat-in kitchen, full bathroom, two bedrooms, and original hardwood flooring.
The property occupies 0.2506 acres at 372 Aurora Street in Lancaster, NY. Exterior improvements include a covered porch, asphalt driveway, detached 2.5-car garage, enclosed backyard with white vinyl privacy fencing, and a whole-house standby generator. Public water, forced-air oil heat, central air, vinyl siding, and an asphalt shingle roof are also present. The home is near local parks, the Lancaster school district, and shopping and dining along Transit Road.
The property occupies 0.2506 acres at 372 Aurora Street in Lancaster, NY. Exterior improvements include a covered porch, asphalt driveway, detached 2.5-car garage, enclosed backyard with white vinyl privacy fencing, and a whole-house standby generator. Public water, forced-air oil heat, central air, vinyl siding, and an asphalt shingle roof are also present. The home is near local parks, the Lancaster school district, and shopping and dining along Transit Road.
Key Highlights
- 1,852‑square‑foot duplex on 0.2506 acres
- Vacant lower unit with updated kitchen and renovated bathroom
- Upper unit includes two bedrooms and a tenant with 16 years of occupancy
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
$11,908
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
4.11%
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%
$238,160
$238.2K
Cap Rate 7%
$170,114
$170.1K
Cap Rate 9%
$132,311
$132.3K
Market Conditions
NOI Build-Up for 1,852 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
$25.6K $13.80/SF
− Vacancy
−$8.5K −$4.61/SF
EGI
$17.0K $9.19/SF
− OpEx
−$5.1K −$2.76/SF
NOI
$11.9K $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%
$238,160
Cap Rate 7%
$170,114
Cap Rate 9%
$132,311
Alternative Uses
Best Use
Multifamily LT 5
$170.1K
$148.9K – $198.5K
NOI $11,908 @ 7.0% cap · market cap 4.11%
Second Best
Apartment 5plus
$152.8K
$133.7K – $178.2K
NOI $10,693 @ 7.0% cap · market cap 3.69%
Theoretical Best
Office A
$404.9K
$354.3K – $472.3K
NOI $28,340 @ 7.0% cap · market cap 9.78%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
125
Businesses Nearby
Explore this area
Business Placement
Demographics for 14086, NY
35,010
Population
15,486
Households
2.3
Avg Household Size
44
Median Age
39%
College-Educated
95%
High-School Grad
33.3 sq mi
ZIP Area
1,051
Density / Sq Mi
$95,949
Median Household Income
$53,164
Median Earnings
$983
Median Rent
$263,600
Median Home Value
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 - One residence is vacant and updated, while the second includes two bedrooms and an established long-term tenancy.
Where is this duplex located?
The property is located at 372 Aurora Street Lancaster, NY.
What is the asking price?
The asking price for this property is $289,900.
What are key features of this property?
This property features: 1,852‑square‑foot duplex on 0.2506 acres; Vacant lower unit with updated kitchen and renovated bathroom; Upper unit includes two bedrooms and a tenant with 16 years of occupancy
