Two-Unit Duplex with Covered
New
For Sale
$169,999
419 18th St, Niagara Falls, NY 14303
The property combines functional interiors, refreshed flooring, well-equipped kitchens, and private outdoor areas.
Property Size1,496 SF
Days on Market2
Property Features for 419 18th St
General Information
Standard status
Active
Size
1,496 SF
Property subtype
Multi Family
Taxes and HOA fees
Annual Taxes
$1,705
Building Details
Building Size
1,496 SF
Year Built
1925
Stories
2
Units
2
Listing Agency:
Iconic Real Estate
(716) 563-9954
Listed By:
David Harris · License #10401369501
(716) 563-9954
Source:
Elliman
Added: Sep 1
Last Checked: Sep 1 at 10:28PM
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 Iconic Real Estate
Investment Insights
Based on property information with market context.
Built in 1925, this duplex contains two residential units, each configured with two bedrooms and one full bathroom. The interiors include comfortable living areas, kitchens with substantial cabinet and counter space, and updated flooring throughout much of the property. Upper and lower covered front porches add outdoor living areas, while the fenced yard and additional rear space extend the usable exterior area.
The property is within Niagara Falls’ Airbnb zone, creating potential for short-term rental use subject to applicable city requirements and approvals. Walkability and bicycle access are rated Somewhat Walkable and Somewhat Bikeable, respectively, while the property has Some Transit access. The address is 419 18th St, Niagara Falls, NY 14303.
The property is within Niagara Falls’ Airbnb zone, creating potential for short-term rental use subject to applicable city requirements and approvals. Walkability and bicycle access are rated Somewhat Walkable and Somewhat Bikeable, respectively, while the property has Some Transit access. The address is 419 18th St, Niagara Falls, NY 14303.
Key Highlights
- Two‑unit duplex with 2 bedrooms and 1 full bathroom in each unit
- Built in 1925
- Updated flooring throughout much of the property
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
$13,138
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
7.73%
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%
$262,760
$262.8K
Cap Rate 7%
$187,686
$187.7K
Cap Rate 9%
$145,978
$146.0K
Market Conditions
NOI Build-Up for 1,496 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
$20.1K $13.44/SF
− Vacancy
−$1.3K −$0.89/SF
EGI
$18.8K $12.55/SF
− OpEx
−$5.6K −$3.76/SF
NOI
$13.1K $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%
$262,760
Cap Rate 7%
$187,686
Cap Rate 9%
$145,978
Alternative Uses
Best Use
Multifamily LT 5
$187.7K
$164.2K – $219.0K
NOI $13,138 @ 7.0% cap · market cap 7.73%
Second Best
Apartment 5plus
$166.6K
$145.8K – $194.4K
NOI $11,662 @ 7.0% cap · market cap 6.86%
Theoretical Best
Warehouse
$1.27M
$1.11M – $1.48M
NOI $88,980 @ 7.0% cap · market cap 52.34%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,022
Businesses Nearby
Explore this area
Business Placement
Demographics for 14303, NY
5,958
Population
3,505
Households
1.7
Avg Household Size
38
Median Age
16%
College-Educated
82%
High-School Grad
2.7 sq mi
ZIP Area
2,207
Density / Sq Mi
$45,519
Median Household Income
$34,623
Median Earnings
$845
Median Rent
$78,200
Median Home Value
Market
Vacancy Rate% for Multifamily in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Duplex - The property combines functional interiors, refreshed flooring, well-equipped kitchens, and private outdoor areas.
Where is this duplex located?
The property is located at 419 18th St Niagara Falls, NY.
What is the asking price?
The asking price for this property is $169,999.
What are key features of this property?
This property features: Two‑unit duplex with 2 bedrooms and 1 full bathroom in each unit; Built in 1925; Updated flooring throughout much of the property
