Updated Two-Unit
For Sale
$312,000
5302 Broadway Street, Lancaster, NY 14086
Well-maintained duplex with separate entrances, updated systems, shared outdoor space, and two comfortable residential apartments.
Property Size1,960 SF
Price / SF$159.18
Days on Market86
Property Features for 5302 Broadway Street
General Information
Standard status
Active
Size
1,960 SF
Property subtype
Duplex
Units
Unit Mix
2 x 2BR/1BA
Multifamily Units
2
Amenities
shared deck
rear porch
backyard
Gas
Forced Air
Gas Water Heater
Deck, Sewer Connected, Water Connected
Building Details
Year Built
1900
Buildings
1
Stories
2
Listing Agency:
Keller Williams Realty Buffalo Northtowns
(716) 908-4304
Listed By:
John Santora III · License #10401291249
(716) 908-4304
Source:
Kw
Added: May 22
Changed: Aug 14
Last Checked: Aug 14 at 2:59AM
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 Keller Williams Realty Buffalo Northtowns
Investment Insights
Based on property information with market context.
Built in 1900, this two-unit duplex contains approximately 1,960 square feet, with an upper and lower apartment offering approximately 980 square feet each. Both apartments include two bedrooms and one full bathroom, along with separate front entrances, a rear mudroom entry, and access to a shared deck and basement. The property features vinyl siding, front and rear entryways, sidewalks, a rear porch, and backyard green space.
Recent improvements include laminate flooring, tile work, cabinetry, plumbing fixtures, shower valve updates, hot water tanks for both units, and additional storage in the lower apartment. Major work also includes updated electrical service panels, a sump pump, a full bubbler system, cement retaining walls at the basement steps, replacement of the porch roof, and a full tear-off replacement of the main roof. Located at 5302 Broadway Street in Lancaster, the property is near shopping, dining, parks, schools, restaurants, sidewalks, and other local amenities.
Recent improvements include laminate flooring, tile work, cabinetry, plumbing fixtures, shower valve updates, hot water tanks for both units, and additional storage in the lower apartment. Major work also includes updated electrical service panels, a sump pump, a full bubbler system, cement retaining walls at the basement steps, replacement of the porch roof, and a full tear-off replacement of the main roof. Located at 5302 Broadway Street in Lancaster, the property is near shopping, dining, parks, schools, restaurants, sidewalks, and other local amenities.
Key Highlights
- Two‑unit duplex with approximately 1,960 SQFT total
- Each apartment offers 2 bedrooms, 1 full bathroom, and approximately 980 SQFT
- Separate front entrances plus shared deck and basement access
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
$12,602
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
4.04%
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%
$252,040
$252.0K
Cap Rate 7%
$180,029
$180.0K
Cap Rate 9%
$140,022
$140.0K
Market Conditions
NOI Build-Up for 1,960 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
$27.0K $13.80/SF
− Vacancy
−$9.0K −$4.61/SF
EGI
$18.0K $9.19/SF
− OpEx
−$5.4K −$2.76/SF
NOI
$12.6K $6.43/SF
Area
Erie County, NY
Vacancy
33.44%
Lease Rate
$13.80 /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%
$252,040
Cap Rate 7%
$180,029
Cap Rate 9%
$140,022
Alternative Uses
Best Use
Multifamily LT 5
$180.0K
$157.5K – $210.0K
NOI $12,602 @ 7.0% cap · market cap 4.04%
Second Best
Apartment 5plus
$161.7K
$141.5K – $188.6K
NOI $11,316 @ 7.0% cap · market cap 3.63%
Theoretical Best
Office A
$428.5K
$374.9K – $499.9K
NOI $29,993 @ 7.0% cap · market cap 9.61%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
572
Businesses Nearby
Explore this area
Business Placement
Demographics for 14086, NY
35,010
Population
15,486
Households
2.3
Avg Household Size
44
Median Age
39%
College-Educated
95%
High-School Grad
33.3 sq mi
ZIP Area
1,051
Density / Sq Mi
$95,949
Median Household Income
$53,164
Median Earnings
$983
Median Rent
$263,600
Median Home Value
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 - Well-maintained duplex with separate entrances, updated systems, shared outdoor space, and two comfortable residential apartments.
Where is this duplex located?
The property is located at 5302 Broadway Street Lancaster, NY.
What is the asking price?
The asking price for this property is $312,000.
What are key features of this property?
This property features: Two‑unit duplex with approximately 1,960 SQFT total; Each apartment offers 2 bedrooms, 1 full bathroom, and approximately 980 SQFT; Separate front entrances plus shared deck and basement access
