Duplex with Heated Front
For Sale
$143,500
Pending
388 Main Street, Tonawanda, NY 14150
Two residential units offer laundry areas, separate utilities, and attic storage.
Property Size2,174 SF
Days on Market20
Property Features for 388 Main Street
General Information
Standard status
Pending
Size
2,174 SF
Property subtype
Multi Family
Property Condition
Severity
Repairs Needed
Evidence
Improve and update
Additional Details
Multifamily Units
2
Taxes and HOA fees
Annual Taxes
$4,272
Amenities
heared porch
large separate laundry room
laundry hookups
walk-in attic storage
Building Details
Building Size
2,174 SF
Year Built
1900
Listing Agency:
HUNT Real Estate ERA
Listed By:
Lori A Jordan · License #10301211574
(716) 860-8267
Source:
Highfallssir
Added: Sep 8
Changed: Sep 19
Last Checked: Sep 26 at 2:32PM
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.
Built in 1900, this duplex contains two residential units with distinct living areas and practical storage features. The front unit includes a heated porch, a separate laundry room, and the primary living space. At the rear, laundry hookups are located in the entry porch adjoining the unit’s living area.
The property has vinyl siding, some replacement windows, a newer furnace, and walk-in attic storage. Separate gas and electric service supports the two-unit configuration, while the address places the property in Tonawanda, New York. The building is suited to an owner-occupant or a buyer seeking a two-unit residential property to improve and update.
The property has vinyl siding, some replacement windows, a newer furnace, and walk-in attic storage. Separate gas and electric service supports the two-unit configuration, while the address places the property in Tonawanda, New York. The building is suited to an owner-occupant or a buyer seeking a two-unit residential property to improve and update.
Key Highlights
- Two‑unit duplex configuration at 388 Main Street, Tonawanda, NY 14150
- Heated porch and separate laundry room in the front unit
- Rear unit includes laundry hookups in the entry porch
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
$12,552
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
8.75%
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%
$251,040
$251.0K
Cap Rate 7%
$179,314
$179.3K
Cap Rate 9%
$139,467
$139.5K
Market Conditions
NOI Build-Up for 2,174 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
$35.2K $16.20/SF
− Vacancy
−$12.4K −$5.70/SF
EGI
$22.8K $10.50/SF
− OpEx
−$10.3K −$4.72/SF
NOI
$12.6K $5.77/SF
Area
Erie County, NY
Vacancy
35.20%
Lease Rate
$16.20 /SF/Yr
Expense Ratio
45.00%
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%
$251,040
Cap Rate 7%
$179,314
Cap Rate 9%
$139,467
Alternative Uses
Best Use
Multifamily LT 5
$199.7K
$174.7K – $233.0K
NOI $13,978 @ 7.0% cap · market cap 9.74%
Second Best
Apartment 5plus
$179.3K
$156.9K – $209.2K
NOI $12,552 @ 7.0% cap · market cap 8.75%
Theoretical Best
Office A
$475.2K
$415.8K – $554.5K
NOI $33,267 @ 7.0% cap · market cap 23.18%
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
444
Businesses Nearby
Explore this area
Business Placement
Demographics for 14150, NY
41,161
Population
20,152
Households
2
Avg Household Size
43
Median Age
32%
College-Educated
95%
High-School Grad
14.9 sq mi
ZIP Area
2,762
Density / Sq Mi
$70,294
Median Household Income
$46,867
Median Earnings
$1,094
Median Rent
$181,900
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 laundry areas, separate utilities, and attic storage.
Where is this duplex located?
The property is located at 388 Main Street Tonawanda, NY.
What is the asking price?
The asking price for this property is $143,500.
What are key features of this property?
This property features: Two‑unit duplex configuration at 388 Main Street, Tonawanda, NY 14150; Heated porch and separate laundry room in the front unit; Rear unit includes laundry hookups in the entry porch
