Brick Duplex with Vacant
New
For Sale
$229,900
443 5th Street, Niagara Falls, NY 14301
Two three-bedroom residences offer flexible occupancy and rental use in an approved Airbnb zone.
Property Size2,700 SF
Lot Size0.10 Acres
Price / SF$85.15
Days on Market7
Property Features for 443 5th Street
General Information
Standard status
Active
Size
2,700 SF
Lot size
0.10 Acres
Property subtype
Multi Family
Units
Unit Mix
2 x 3BR/1BA
Multifamily Units
2
Additional Details
Public Transit
Yes
Taxes and HOA fees
Annual Taxes
$1,519
Building Details
Building Size
2,700 SF
Year Built
1921
Construction
brick
Listing Agency:
Hooper Realty
Listed By:
Michael J Hooper · License #37HO0444450
(716) 285-0477
Source:
Highfallssir
Added: Sep 17
Changed: Sep 22
Last Checked: Sep 22 at 9:57PM
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 Hooper Realty
Investment Insights
Based on property information with market context.
Built in 1921, this brick duplex contains two three-bedroom, one-bath residences, each arranged with a living room, dining room, and kitchen. The building provides approximately 2,700 square feet on a 4,356-square-foot lot. One residence is occupied, while the other is vacant and available for a new occupant or rental use.
The property is in the Downtown Niagara Falls area, near the Rainbow Bridge, Niagara Falls State Park, Aquarium of Niagara, casino district, restaurants, entertainment venues, and public transportation. It is also close to the Canadian border and walking and hiking trails along Whirlpool Street. The property is located within an approved Airbnb zone.
The property is in the Downtown Niagara Falls area, near the Rainbow Bridge, Niagara Falls State Park, Aquarium of Niagara, casino district, restaurants, entertainment venues, and public transportation. It is also close to the Canadian border and walking and hiking trails along Whirlpool Street. The property is located within an approved Airbnb zone.
Key Highlights
- Two‑unit duplex with 3‑bedroom, 1‑bath residences
- Approximately 2,700 square feet on a 4,356‑square‑foot lot
- Brick construction dating to 1921
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
$21,047
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
9.15%
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%
$420,940
$420.9K
Cap Rate 7%
$300,671
$300.7K
Cap Rate 9%
$233,856
$233.9K
Market Conditions
NOI Build-Up for 2,700 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
$41.1K $15.24/SF
− Vacancy
−$2.9K −$1.07/SF
EGI
$38.3K $14.17/SF
− OpEx
−$17.2K −$6.38/SF
NOI
$21.0K $7.80/SF
Area
Niagara County, NY
Vacancy
7.00%
Lease Rate
$15.24 /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%
$420,940
Cap Rate 7%
$300,671
Cap Rate 9%
$233,856
Alternative Uses
Best Use
Multifamily LT 5
$338.7K
$296.4K – $395.2K
NOI $23,712 @ 7.0% cap · market cap 10.31%
Second Best
Apartment 5plus
$300.7K
$263.1K – $350.8K
NOI $21,047 @ 7.0% cap · market cap 9.15%
Theoretical Best
Warehouse
$2.29M
$2.01M – $2.68M
NOI $160,593 @ 7.0% cap · market cap 69.85%
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
1,325
Businesses Nearby
Explore this area
Business Placement
Demographics for 14301, NY
12,618
Population
7,285
Households
1.7
Avg Household Size
38
Median Age
18%
College-Educated
85%
High-School Grad
2.1 sq mi
ZIP Area
6,009
Density / Sq Mi
$37,650
Median Household Income
$32,909
Median Earnings
$722
Median Rent
$79,200
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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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 three-bedroom residences offer flexible occupancy and rental use in an approved Airbnb zone.
Where is this duplex located?
The property is located at 443 5th Street Niagara Falls, NY.
What is the asking price?
The asking price for this property is $229,900.
What are key features of this property?
This property features: Two‑unit duplex with 3‑bedroom, 1‑bath residences; Approximately 2,700 square feet on a 4,356‑square‑foot lot; Brick construction dating to 1921
