Brick Duplex With
New
For Sale
$274,900
43 Hawthorne Ave, Kenmore, NY 14223
Two-unit brick property with a private driveway, two-car garage, and one vacant apartment.
Property Size2,464 SF
Price / SF$111.57
Days on Market2
Property Features for 43 Hawthorne Ave
General Information
Standard status
Active
Size
2,464 SF
Property subtype
Multi-Family
Units
Unit Mix
2 x 2BR
Multifamily Units
2
Amenities
private driveway
two-car garage
full basement
Building Details
Year Built
1933
Buildings
1
Construction
brick
Listing Agency:
WNY Metro Roberts Realty
Listed By:
Hope Young-Watkins · License #10301214009
(716) 523-1158
Source:
Skinnercnyrealty
Added: Sep 14
Last Checked: Sep 14 at 2:30PM
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 WNY Metro Roberts Realty
Investment Insights
Based on property information with market context.
This 1933 brick duplex includes two residential units, a private driveway, a two-car garage, and a full basement for storage or additional use. Both apartments offer two bedrooms. The first-floor unit is occupied by a tenant, while the upper apartment is vacant, providing a flexible configuration for an owner-occupant or investor.
The property is located in Kenilworth near Niagara Falls Boulevard and Kenmore Avenue, with shopping, dining, schools, and major transportation routes in the surrounding area. Improvements include a garage door installed in May 2026, two steam boilers that are within 10 years, a tear-off roof completed in 2014, and electrical service panels updated in 2010.
The property is located in Kenilworth near Niagara Falls Boulevard and Kenmore Avenue, with shopping, dining, schools, and major transportation routes in the surrounding area. Improvements include a garage door installed in May 2026, two steam boilers that are within 10 years, a tear-off roof completed in 2014, and electrical service panels updated in 2010.
Key Highlights
- Two‑unit brick duplex built in 1933
- Two 2‑bedroom units; first‑floor apartment is tenant‑occupied and upper unit is vacant
- Private driveway and two‑car garage
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
$24,449
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
8.89%
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%
$488,980
$489.0K
Cap Rate 7%
$349,271
$349.3K
Cap Rate 9%
$271,656
$271.7K
Market Conditions
NOI Build-Up for 2,464 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
$37.0K $15.00/SF
− Vacancy
−$2.0K −$0.83/SF
EGI
$34.9K $14.17/SF
− OpEx
−$10.5K −$4.25/SF
NOI
$24.4K $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 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%
$488,980
Cap Rate 7%
$349,271
Cap Rate 9%
$271,656
Alternative Uses
Best Use
Multifamily LT 5
$349.3K
$305.6K – $407.5K
NOI $24,449 @ 7.0% cap · market cap 8.89%
Second Best
Apartment 5plus
$321.7K
$281.5K – $375.3K
NOI $22,519 @ 7.0% cap · market cap 8.19%
Theoretical Best
Office A
$592.5K
$518.5K – $691.3K
NOI $41,478 @ 7.0% cap · market cap 15.09%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
617
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
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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 - Two-unit brick property with a private driveway, two-car garage, and one vacant apartment.
Where is this duplex located?
The property is located at 43 Hawthorne Ave Kenmore, NY.
What is the asking price?
The asking price for this property is $274,900.
What are key features of this property?
This property features: Two‑unit brick duplex built in 1933; Two 2‑bedroom units; first‑floor apartment is tenant‑occupied and upper unit is vacant; Private driveway and two‑car garage
