Brick Duplex with Two-Car
For Sale
$274,900
43 Hawthorne Avenue, Kenmore, NY 14223
Residential, Kenmore, NY
Property Size2,464 SF
Lot Size0.10 Acres
Price / SF$111.57
Days on Market74
Property Features for 43 Hawthorne Avenue
General Information
Property type
Residential Multi Family
Property subtype
Other
Bedrooms
4
Bathrooms
2
Full bathrooms
2
Rooms
Basement, Bedroom 4, Bedroom 3, Bathroom 1, Bedroom 1, Bedroom 2, Bathroom 2
Parking features
Garage, Open
Exterior features
Fence
Fencing
Fenced
Appliances
GasWaterHeater
Lot features
Rectangular, Rectangular Lot, Residential Lot
Elementary school district
Kenmore-Tonawanda Union Free District
Middle school district
Kenmore-Tonawanda Union Free District
High school district
Kenmore-Tonawanda Union Free District
Directions
Take Kenmore to Hawthorne or Niagara Falls Blvd to Kenilworth Ave. to Hawthorne Ave.
Subdivision
Tonawanda-Town-146489
Standard status
Active
APN
146489-079-310-0001-024-000
Size
2,464 SF
Lot size
0.10 Acres
Taxes and HOA fees
Tax Annual Amount
6789
Utilities
Heating system
Electric (Heating), Steam, Hot Water(Heating)
Water source
Public
Building Details
Year built
1933
Floors in Building
2
Number of units
2
Flooring type
Varies, Hardwood, Carpet, Tile, Vinyl
Building materials
Brick
Roof type
Asphalt
Listing Agency:
WNY Metro Roberts Realty
(716) 875-2211
Listed By:
Hope Young-Watkins · License #10301214009
(716) 523-1158
Added: Jun 8
Changed: Aug 19
Last Checked: Aug 20 at 7:06AM
MLS# B1688890
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.
Built in 1933, this 2,464-square-foot brick duplex contains two separate residences, each with two bedrooms. The lower-level apartment is tenant-occupied, while the upper apartment is vacant. Interior finishes include tile, carpet, vinyl, and hardwood flooring. The property also includes a full basement, fenced grounds, a private driveway, and a detached two-car garage. Public water service and a gas water heater are present.
Located at 43 Hawthorne Avenue in Kenmore, the property is near Niagara Falls Boulevard and Kenmore Avenue, with shopping, dining, schools, and major transportation routes in the surrounding area. Improvements include a tear-off roof completed in 2014, updated electric service panels from 2010, two steam boilers within 10 years, and a new garage door completed in May 2026.
Located at 43 Hawthorne Avenue in Kenmore, the property is near Niagara Falls Boulevard and Kenmore Avenue, with shopping, dining, schools, and major transportation routes in the surrounding area. Improvements include a tear-off roof completed in 2014, updated electric service panels from 2010, two steam boilers within 10 years, and a new garage door completed in May 2026.
Key Highlights
- 2,464‑square‑foot brick duplex on a 0.1017‑acre lot
- Two 2‑bedroom units, with the lower apartment tenant‑occupied and the upper apartment vacant
- Private driveway and 2‑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
Property Profile
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
285
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
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 - Separate two-bedroom residences include one occupied unit and one available for an owner-occupant or new tenant.
Where is this duplex located?
The property is located at 43 Hawthorne Avenue 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: 2,464‑square‑foot brick duplex on a 0.1017‑acre lot; Two 2‑bedroom units, with the lower apartment tenant‑occupied and the upper apartment vacant; Private driveway and 2‑car garage
