Quadplex with Two Detached Garage
For Sale
$599,000
5930 Clinton Street, Elma, NY 14059
Two houses plus two garage apartments on a 5-acre parcel with separate septic systems and tenant-occupied units.
Property Size4,252 SF
Lot Size5.00 Acres
Days on Market70
Property Features for 5930 Clinton Street
General Information
Standard status
Active
Size
4,252 SF
Lot size
5.00 Acres
Property subtype
Multi Family Home
Zoning
Residential Multi Use
Taxes and HOA fees
Annual Taxes
$8,401
Building Details
Building Size
4,252 SF
Stories
2
Units
4
Listing Agency:
Howard Hanna WNY Inc.
(716) 913-2665
Listed By:
Peggy Margar L Reynolds
(716) 913-2665
Source:
Wcirealty
Added: Jun 16
Changed: Aug 23
Last Checked: Aug 23 at 7:34AM
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 quadplex includes two separate houses and two garage apartments, providing four distinct income-producing units. The front two houses are equipped with gas forced air heat and include laundry. The two garage apartments are all-electric and do not include laundry. The property also includes a detached garage offering additional storage income as referenced in the rental rider. The entire property and all included appliances are sold in as-is condition at closing, and the seller has no knowledge of whether the dishwasher in the front house works.
The property sits on a 5-acre parcel and features two separate septic systems that have been maintained regularly. The buyer will be responsible for an ECHD waiver/transfer. The parcel was split from a larger property, so tax and county records have not been updated yet; a new survey is on order to confirm exact frontage and depth.
From a tenant or operator perspective, the unit mix provides flexibility: recently vacated front houses may allow for re-leasing, while the garage apartments have long-term tenants interested in staying. Prospective buyers should plan to complete due diligence on both the septic systems and the as-is condition of the included appliances prior to closing, and coordinate around the seller’s records update timeline and the pending survey confirmation.
The property sits on a 5-acre parcel and features two separate septic systems that have been maintained regularly. The buyer will be responsible for an ECHD waiver/transfer. The parcel was split from a larger property, so tax and county records have not been updated yet; a new survey is on order to confirm exact frontage and depth.
From a tenant or operator perspective, the unit mix provides flexibility: recently vacated front houses may allow for re-leasing, while the garage apartments have long-term tenants interested in staying. Prospective buyers should plan to complete due diligence on both the septic systems and the as-is condition of the included appliances prior to closing, and coordinate around the seller’s records update timeline and the pending survey confirmation.
Key Highlights
- Two houses plus two garage apartments on a 5‑acre parcel
- Separate septic systems (two total) that have been maintained regularly
- Front two houses have gas forced‑air heat and laundry
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
$27,339
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
4.56%
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%
$546,780
$546.8K
Cap Rate 7%
$390,557
$390.6K
Cap Rate 9%
$303,767
$303.8K
Market Conditions
NOI Build-Up for 4,252 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
$58.7K $13.80/SF
− Vacancy
−$19.6K −$4.61/SF
EGI
$39.1K $9.19/SF
− OpEx
−$11.7K −$2.76/SF
NOI
$27.3K $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%
$546,780
Cap Rate 7%
$390,557
Cap Rate 9%
$303,767
Alternative Uses
Best Use
Multifamily LT 5
$390.6K
$341.7K – $455.7K
NOI $27,339 @ 7.0% cap · market cap 4.56%
Second Best
Apartment 5plus
$350.7K
$306.9K – $409.2K
NOI $24,550 @ 7.0% cap · market cap 4.10%
Theoretical Best
Office A
$929.5K
$813.3K – $1.08M
NOI $65,066 @ 7.0% cap · market cap 10.86%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
21
Businesses Nearby
Explore this area
Business Placement
Demographics for 14059, NY
9,280
Population
3,803
Households
2.4
Avg Household Size
51
Median Age
42%
College-Educated
97%
High-School Grad
26.9 sq mi
ZIP Area
345
Density / Sq Mi
$101,698
Median Household Income
$60,569
Median Earnings
$1,316
Median Rent
$323,800
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?
Quadplex - Two houses plus two garage apartments on a 5-acre parcel with separate septic systems and tenant-occupied units.
Where is this quadplex located?
The property is located at 5930 Clinton Street Elma, NY.
What is the asking price?
The asking price for this property is $599,000.
What are key features of this property?
This property features: Two houses plus two garage apartments on a 5‑acre parcel; Separate septic systems (two total) that have been maintained regularly; Front two houses have gas forced‑air heat and laundry
