All-Brick Duplex Income
For Sale
$154,900
Pending
474 22nd Street, Niagara Falls, NY 14303
Two updated units include a 2-bedroom and 1-bedroom floor plan, with newer interiors and modern kitchens and baths.
Property Size1,512 SF
Days on Market179
Property Features for 474 22nd Street
General Information
Standard status
Pending
Size
1,512 SF
Property subtype
Multi Family
Additional Details
Multifamily Units
2
Taxes and HOA fees
Annual Taxes
$2,599
Building Details
Building Size
1,512 SF
Year Built
1940
Construction
all-brick
Tenancy
Multi
Listing Agency:
Century 21 North East
Listed By:
David M Pascucci · License #10301223803
(716) 545-9743
Source:
Highfallssir
Added: Apr 15
Changed: Oct 5
Last Checked: Oct 9 at 11:53PM
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 Century 21 North East
Investment Insights
Based on property information with market context.
This turnkey, all-brick duplex offers two rental units with updated interiors. One unit features two bedrooms and one bathroom, and the other unit features one bedroom and one bathroom. Both units have newer flooring throughout and modernized kitchens and bathrooms, creating a clean, low-maintenance setup. The property also includes updated electrical.
The duplex is located in Niagara Falls, New York, and is supported by established, in-place tenants. Current gross rental income is $2,150 per month, totaling $25,800 annually.
With both units currently rented and minimal capital improvements indicated by the updated finishes and systems, the property is positioned for immediate stability for an owner seeking an income-producing residential rental asset.
The duplex is located in Niagara Falls, New York, and is supported by established, in-place tenants. Current gross rental income is $2,150 per month, totaling $25,800 annually.
With both units currently rented and minimal capital improvements indicated by the updated finishes and systems, the property is positioned for immediate stability for an owner seeking an income-producing residential rental asset.
Key Highlights
- All‑brick 2‑unit duplex built in 1940
- 2‑bedroom, 1‑bath unit rented for $1,200/month
- 1‑bedroom, 1‑bath unit rented for $950/month
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$13,279
Cap Rate
8.57%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$265,580
$265.6K
Cap Rate 7%
$189,700
$189.7K
Cap Rate 9%
$147,544
$147.5K
Market Conditions
NOI Build-Up for 1,512 SF
Gross rent
$20.3K $13.44/SF
− Vacancy
−$1.4K −$0.89/SF
EGI
$19.0K $12.55/SF
− OpEx
−$5.7K −$3.76/SF
NOI
$13.3K $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 Rate 5%
$265,580
Cap Rate 7%
$189,700
Cap Rate 9%
$147,544
Alternative Uses
Best Use
Multifamily LT 5
$189.7K
$166.0K – $221.3K
NOI $13,279 @ 7.0% cap · market cap 8.57%
Second Best
Apartment 5plus
$168.4K
$147.3K – $196.4K
NOI $11,786 @ 7.0% cap · market cap 7.61%
Theoretical Best
Warehouse
$1.28M
$1.12M – $1.50M
NOI $89,932 @ 7.0% cap · market cap 58.06%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
2
Residential units
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
814
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
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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 updated units include a 2-bedroom and 1-bedroom floor plan, with newer interiors and modern kitchens and baths.
Where is this duplex located?
The property is located at 474 22nd Street Niagara Falls, NY.
What is the asking price?
The asking price for this property is $154,900.
What are key features of this property?
This property features: All‑brick 2‑unit duplex built in 1940; 2‑bedroom, 1‑bath unit rented for $1,200/month; 1‑bedroom, 1‑bath unit rented for $950/month
