Building Details

Building Size 1,592 SF

Year Built 1949

Listing Agency: Howard Hanna WNY Inc.

Listed By: Cynthia J Durkin · License #10301217545 Show Phone

Source: Highfallssir

Added: Jun 17 Changed: Sep 15 Last Checked: Sep 16 at 11:00PM

Report an Issue

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 Howard Hanna WNY Inc.

Investment Insights

Based on property information with market context.

This side-by-side duplex sits on 9.3 acres and offers two separate homes under one roof. Each unit has two bedrooms and one full bath, with separate utilities and basements. The owner’s unit has been renovated with an open concept main living area featuring a wood beam, an updated kitchen with soft-close cabinetry, luxury vinyl flooring, and newer appliances that will remain. The remodeled bathroom includes a new larger tub with surround, skylight, and a granite-topped vanity. The primary bedroom also features a generous walk-in closet. The tenant’s unit offers its own character, including a pallet accent wall in the living room and some newer windows.

Outside, the property includes a 10-year-old 40 x 56 pole barn with a concrete floor and electric, plus extra garage doors on the side and in the back for added convenience. There is also a storage shed, a cleared area, and a protected wooded area in the back, balancing usable land with natural space.

Lot frontage shown in tax records does not reflect correct frontage; refer to the assessors map for clarification of what is indicated in the listing. The property was built in 1949.

Key Highlights

• Side‑by‑side duplex on 9.3 acres
• Both units have two bedrooms and one full bath with separate utilities and basements
• Renovated owner’s unit with open concept living area and wood beam

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

$13,982

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

3.92%

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%

$279,640 $279.6K

Cap Rate 7%

$199,743 $199.7K

Cap Rate 9%

$155,356 $155.4K

Market Conditions

NOI Build-Up for 1,592 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

$21.4K $13.44/SF

− Vacancy

−$1.4K −$0.89/SF

EGI

$20.0K $12.55/SF

− OpEx

−$6.0K −$3.76/SF

NOI

$14.0K $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 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%

$279,640

Cap Rate 7%

$199,743

Cap Rate 9%

$155,356

Alternative Uses

Best Use

Multifamily LT 5

$199.7K

$174.8K – $233.0K (±1% cap)

NOI $13,982 @ 7.0% cap · market cap 3.92%

Second Best

Apartment 5plus

$177.3K

$155.1K – $206.8K (±1% cap)

NOI $12,410 @ 7.0% cap · market cap 3.48%

Theoretical Best

Warehouse

$1.35M

$1.18M – $1.58M (±1% cap)

NOI $94,690 @ 7.0% cap · market cap 26.52%

Zoning and permitted uses should be independently verified with authorities.

Property Analytics

Current Use

Duplexes

Lease Details

Yes

Paved road access

Yes

Utilities to site

Location Intelligence

Trade Area within ½ mile

1

Businesses Nearby

Explore this area Business Placement

Demographics for 14067, NY

4,820

Population

1,933

Households

2.5

Avg Household Size

45

Median Age

28%

College-Educated

92%

High-School Grad

49.3 sq mi

ZIP Area

98

Density / Sq Mi

$90,625

Median Household Income

$53,210

Median Earnings

$814

Median Rent

$178,400

Median Home Value

Market

Vacancy Rate% for Multifamily in Northeast region

4% 2022

4.6% 2023

5.3% 2024

5.6% 2025

Questions? Ask Rey

Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.

What type of property is this? Where is this duplexes located? What is the asking price? Find similar properties What are key features of this property?

Frequently Asked Questions

What type of property is this?

Duplex - Updated owner unit and separate-utility tenant unit in a side-by-side duplex, plus a pole barn for storage or workshop space.

Where is this duplex located?

The property is located at 4877 Royalton Center Rd Royalton, NY.

What is the asking price?

The asking price for this property is $357,000.

What are key features of this property?

This property features: Side‑by‑side duplex on 9.3 acres; Both units have two bedrooms and one full bath with separate utilities and basements; Renovated owner’s unit with open concept living area and wood beam