Updated Duplex Investment
For Sale
$189,900
476 Hawley Street, Lockport, NY 14094
Residential, Lockport, NY
Property Size2,046 SF
Lot Size0.09 Acres
Price / SF$92.82
Days on Market16
Property Features for 476 Hawley Street
General Information
Property type
Residential Multi Family
Property subtype
Other
Bedrooms
3
Bathrooms
2
Full bathrooms
2
Rooms
Bedroom 2, Basement, Bathroom 1, Bathroom 2, Bedroom 1, Bedroom 3
Interior features
CeilingFans
Exterior features
FullyFenced
Fencing
Fenced
Appliances
GasWaterHeater
Lot features
Rectangular, Rectangular Lot, Residential Lot
Elementary school
Anna Merritt Elementary
Middle school
Emmet Belknap Middle
High school
Lockport High
Elementary school district
Lockport
Middle school district
Lockport
High school district
Lockport
Directions
N Transit to Charlotte to Hawley
Subdivision
Lockport-City-290900
Standard status
Active
APN
290900-109-037-0001-003-000
Size
2,046 SF
Lot size
0.09 Acres
Taxes and HOA fees
Tax Annual Amount
4304
Utilities
Heating system
Natural Gas, Other (Heating)
Water source
Public
Building Details
Year built
1875
Floors in Building
2
Number of units
2
Flooring type
Hardwood, Laminate, Varies, Vinyl
Building materials
AluminumSiding, VinylSiding, CopperPlumbing
Roof type
Shingle, Asphalt
Architectural style
Other
Listing Agency:
MJ Peterson Real Estate Inc.
(716) 668-7000
Listed By:
Frank E Sandor · License #10401204018
(716) 863-0369
Added: Sep 16
Changed: Sep 20
Last Checked: Oct 1 at 5:06PM
MLS# B1713917
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.
This 2,046-square-foot duplex contains two residential apartments with additional interior improvements in both units. The lower apartment includes a bonus room that may function as a third bedroom. Property features include hardwood, vinyl, and laminate flooring, ceiling fans, natural-gas heating, public water, and a fully fenced lot. The building has aluminum and vinyl siding, copper plumbing, and an asphalt shingle roof.
Exterior work completed in recent years includes glass block windows, new windows and doors, rebuilt front porches, and new sidewalks. The electrical service was upgraded by a prior owner, and two new hot water tanks are identified for 2026. Current tenants would like to remain in the property. The address is near Downtown Lockport, the Erie Canal, shopping, restaurants, and other area amenities.
Exterior work completed in recent years includes glass block windows, new windows and doors, rebuilt front porches, and new sidewalks. The electrical service was upgraded by a prior owner, and two new hot water tanks are identified for 2026. Current tenants would like to remain in the property. The address is near Downtown Lockport, the Erie Canal, shopping, restaurants, and other area amenities.
Key Highlights
- 2,046‑square‑foot duplex with two residential apartments
- 0.09‑acre fully fenced lot
- Glass block windows plus new windows and doors completed in 2023
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
$15,949
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
8.40%
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%
$318,980
$319.0K
Cap Rate 7%
$227,843
$227.8K
Cap Rate 9%
$177,211
$177.2K
Market Conditions
NOI Build-Up for 2,046 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
$31.2K $15.24/SF
− Vacancy
−$2.2K −$1.07/SF
EGI
$29.0K $14.17/SF
− OpEx
−$13.0K −$6.38/SF
NOI
$15.9K $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%
$318,980
Cap Rate 7%
$227,843
Cap Rate 9%
$177,211
Alternative Uses
Best Use
Multifamily LT 5
$256.7K
$224.6K – $299.5K
NOI $17,969 @ 7.0% cap · market cap 9.46%
Second Best
Apartment 5plus
$227.8K
$199.4K – $265.8K
NOI $15,949 @ 7.0% cap · market cap 8.40%
Theoretical Best
Warehouse
$1.74M
$1.52M – $2.03M
NOI $121,694 @ 7.0% cap · market cap 64.08%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
548
Businesses Nearby
Explore this area
Business Placement
Demographics for 14094, NY
50,969
Population
23,283
Households
2.2
Avg Household Size
42
Median Age
29%
College-Educated
92%
High-School Grad
121.7 sq mi
ZIP Area
419
Density / Sq Mi
$73,354
Median Household Income
$45,056
Median Earnings
$869
Median Rent
$186,100
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
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 - Two residential units offer updated interiors, fenced outdoor space, and proximity to downtown amenities.
Where is this duplex located?
The property is located at 476 Hawley Street Lockport, NY.
What is the asking price?
The asking price for this property is $189,900.
What are key features of this property?
This property features: 2,046‑square‑foot duplex with two residential apartments; 0.09‑acre fully fenced lot; Glass block windows plus new windows and doors completed in 2023
