Two-Residence Multifamily
For Sale
$330,000
Pending
5062 Saunders Settlement Rd, Lockport, NY 14094
Two residences include a farmhouse and an apartment above an oversized garage with workshop areas.
Property Size3,320 SF
Lot Size3.84 Acres
Days on Market18
Property Features for 5062 Saunders Settlement Rd
General Information
Standard status
Pending
Size
3,320 SF
Lot size
3.84 Acres
Property subtype
Multi Family
Units
Unit Mix
1 x 3BR/1.5BA, 1 x 3BR/1BA
Multifamily Units
2
Taxes and HOA fees
Annual Taxes
$9,464
Building Details
Building Size
3,320 SF
Year Built
1845
Buildings
2
Stories
2
Units
2
Listing Agency:
Avant Realty LLC
Listed By:
Charles Glander · License #10491210074
(716) 463-0108
Source:
Elliman
Added: Sep 18
Changed: Sep 30
Last Checked: Oct 4 at 10:15AM
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 Avant Realty LLC
Investment Insights
Based on property information with market context.
This multifamily property spans 3.84 acres and includes two separate residences. The front farmhouse has 3 bedrooms and 1.5 baths; it was taken back to the studs, re-insulated, and drywalled, leaving cosmetic work to complete. A second building contains a 3-bedroom, 1-bath apartment above an oversized 2-car garage, along with additional workshop areas for storage, hobbies, equipment, or projects.
The property is located at 5062 & 5066 Saunders Settlement Rd in Cambria, within the Starpoint School District. Built in 1845, it combines residential living space with garage and workshop improvements across a nearly four-acre parcel. The two-residence configuration supports multiple household arrangements and provides separate building space on the same property.
The property is located at 5062 & 5066 Saunders Settlement Rd in Cambria, within the Starpoint School District. Built in 1845, it combines residential living space with garage and workshop improvements across a nearly four-acre parcel. The two-residence configuration supports multiple household arrangements and provides separate building space on the same property.
Key Highlights
- 3.84‑acre multifamily property with two separate residences
- Front farmhouse offers 3 bedrooms and 1.5 baths
- Second building includes a 3‑bedroom, 1‑bath apartment
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
$25,880
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
7.84%
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%
$517,600
$517.6K
Cap Rate 7%
$369,714
$369.7K
Cap Rate 9%
$287,556
$287.6K
Market Conditions
NOI Build-Up for 3,320 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
$50.6K $15.24/SF
− Vacancy
−$3.5K −$1.07/SF
EGI
$47.1K $14.17/SF
− OpEx
−$21.2K −$6.38/SF
NOI
$25.9K $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%
$517,600
Cap Rate 7%
$369,714
Cap Rate 9%
$287,556
Alternative Uses
Best Use
Apartment 5plus
$369.7K
$323.5K – $431.3K
NOI $25,880 @ 7.0% cap · market cap 7.84%
Second Best
—
—
no second resolved use
Theoretical Best
Warehouse
$2.82M
$2.47M – $3.29M
NOI $197,469 @ 7.0% cap · market cap 59.84%
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
6
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
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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?
Multifamily property - Two residences include a farmhouse and an apartment above an oversized garage with workshop areas.
Where is this multifamily property located?
The property is located at 5062 Saunders Settlement Rd Lockport, NY.
What is the asking price?
The asking price for this property is $330,000.
What are key features of this property?
This property features: 3.84‑acre multifamily property with two separate residences; Front farmhouse offers 3 bedrooms and 1.5 baths; Second building includes a 3‑bedroom, 1‑bath apartment
