Brick Duplex with Detached
New
For Sale
$299,000
60 Saint James Street, Lancaster, NY 14043
Two three-bedroom units, including an updated lower apartment, offer a practical residential rental configuration.
Property Size2,230 SF
Days on Market4
Property Features for 60 Saint James Street
General Information
Standard status
Active
Size
2,230 SF
Property subtype
Duplex
Taxes and HOA fees
Annual Taxes
$6,100
Building Details
Building Size
2,230 SF
Year Built
1877
Buildings
1
Construction
brick
Listing Agency:
WNYbyOwner.com
Listed By:
Robyn Sansone · License #10491209960
(716) 523-8508
Source:
Highfallssir
Added: Oct 5
Changed: Oct 7
Last Checked: Oct 7 at 2:32PM
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 WNYbyOwner.com
Investment Insights
Based on property information with market context.
This brick duplex in Depew contains two three-bedroom units. The lower apartment is vacant and has new carpet and other updates; the property also has updated electrical service and hot water tanks. Construction dates to 1877.
A corner parcel includes a 100-foot driveway, substantial off-street parking, and a 2.5-car garage.
A corner parcel includes a 100-foot driveway, substantial off-street parking, and a 2.5-car garage.
Key Highlights
- Two units, each with 3 bedrooms
- Brick construction; built in 1877
- Vacant lower unit with new carpet and updates
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$14,338
Cap Rate
4.80%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$286,760
$286.8K
Cap Rate 7%
$204,829
$204.8K
Cap Rate 9%
$159,311
$159.3K
Market Conditions
NOI Build-Up for 2,230 SF
Gross rent
$30.8K $13.80/SF
− Vacancy
−$10.3K −$4.61/SF
EGI
$20.5K $9.19/SF
− OpEx
−$6.1K −$2.76/SF
NOI
$14.3K $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 Rate 5%
$286,760
Cap Rate 7%
$204,829
Cap Rate 9%
$159,311
Alternative Uses
Best Use
Multifamily LT 5
$204.8K
$179.2K – $239.0K
NOI $14,338 @ 7.0% cap · market cap 4.80%
Second Best
Apartment 5plus
$183.9K
$160.9K – $214.6K
NOI $12,875 @ 7.0% cap · market cap 4.31%
Theoretical Best
Office A
$487.5K
$426.6K – $568.7K
NOI $34,124 @ 7.0% cap · market cap 11.41%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Location Intelligence
Trade Area within ½ mile
508
Businesses Nearby
Explore this area
Business Placement
Demographics for 14043, NY
24,962
Population
11,743
Households
2.1
Avg Household Size
45
Median Age
27%
College-Educated
94%
High-School Grad
9.1 sq mi
ZIP Area
2,743
Density / Sq Mi
$73,373
Median Household Income
$50,263
Median Earnings
$1,072
Median Rent
$192,800
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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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?
Duplex - Two three-bedroom units, including an updated lower apartment, offer a practical residential rental configuration.
Where is this duplex located?
The property is located at 60 Saint James Street Lancaster, NY.
What is the asking price?
The asking price for this property is $299,000.
What are key features of this property?
This property features: Two units, each with 3 bedrooms; Brick construction; built in 1877; Vacant lower unit with new carpet and updates
