Updated Triplex with Detached
New
For Sale
$369,900
68 Tyler Street, Depew, NY 14043
Residential, Depew, NY
Property Size2,456 SF
Lot Size0.11 Acres
Price / SF$150.61
Days on Market2
Property Features for 68 Tyler Street
General Information
Property type
Residential Multi Family
Property subtype
Other
Bedrooms
4
Bathrooms
3
Full bathrooms
3
Rooms
Bedroom 2, Bedroom 4, Basement, Bathroom 3, Bedroom 1, Bedroom 3, Bathroom 2, Bathroom 1
Interior features
CeilingFans
Exterior features
Balcony
Appliances
GasWaterHeater
Subdivision
Holland Land Company's Su
Lot features
Corner Lot, Near Public Transit, Rectangular, Rectangular Lot
Elementary school district
Depew
Middle school district
Depew
High school district
Depew
Directions
Transit Rd to Eliot Ave to Tyler St
Standard status
Active
APN
145201-104-300-0002-017-000
Size
2,456 SF
Lot size
0.11 Acres
Taxes and HOA fees
Tax Annual Amount
7145
Utilities
Heating system
Forced Air, Ductless (Heating), Natural Gas
Cooling system
Ductless
Water source
Public
Amenities
wraparound porch
private outdoor space
Building Details
Year built
1890
Floors in Building
2
Number of units
3
Flooring type
Carpet, Varies, Vinyl
Building materials
VinylSiding
Roof type
Asphalt
Listing Agency:
WNY Metro Roberts Realty
(716) 559-9972
Listed By:
Ryan Burke · License #10301222154
(716) 572-2848
Added: Sep 16
Last Checked: Sep 17 at 6:06AM
MLS# B1715355
Copyright © 2026 New York State Alliance of MLSs, LLC. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This 1890 residential income property contains three units across a Victorian-style main house and a detached rear cottage. The main house includes two 2-bedroom apartments, while the cottage has undergone a complete interior renovation. Improvements across the property include remodeled kitchens and bathrooms, updated appliances, vinyl flooring, carpeting, fresh paint, and subway tile accents. Original woodwork, exposed brick, large windows, and a wraparound porch retain character in the primary structure.
The property measures 2,456 square feet on 0.1148 acres in Depew, with convenient access to Transit Road and nearby restaurants, shopping, pubs, entertainment, and daily services. One unit is occupied and two are vacant. Each unit has separate gas and electric utilities, private outdoor space, and access to ample off-street parking. The basement includes laundry hookups. Mechanical updates include three new hot water tanks in 2026, main-house furnaces less than 2 years old, a new sump pump in 2025, and a cottage mini-split heating and A/C system.
The property measures 2,456 square feet on 0.1148 acres in Depew, with convenient access to Transit Road and nearby restaurants, shopping, pubs, entertainment, and daily services. One unit is occupied and two are vacant. Each unit has separate gas and electric utilities, private outdoor space, and access to ample off-street parking. The basement includes laundry hookups. Mechanical updates include three new hot water tanks in 2026, main-house furnaces less than 2 years old, a new sump pump in 2025, and a cottage mini-split heating and A/C system.
Key Highlights
- Three‑unit property with two 2‑bedroom main‑house apartments and a detached rear cottage
- 2,456 square feet on 0.1148 acres
- Detached cottage received a complete gut renovation with a new mini‑split heating and A/C system
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
$15,791
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
4.27%
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%
$315,820
$315.8K
Cap Rate 7%
$225,586
$225.6K
Cap Rate 9%
$175,456
$175.5K
Market Conditions
NOI Build-Up for 2,456 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
$33.9K $13.80/SF
− Vacancy
−$11.3K −$4.61/SF
EGI
$22.6K $9.19/SF
− OpEx
−$6.8K −$2.76/SF
NOI
$15.8K $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%
$315,820
Cap Rate 7%
$225,586
Cap Rate 9%
$175,456
Alternative Uses
Best Use
Multifamily LT 5
$225.6K
$197.4K – $263.2K
NOI $15,791 @ 7.0% cap · market cap 4.27%
Second Best
Apartment 5plus
$202.6K
$177.3K – $236.3K
NOI $14,180 @ 7.0% cap · market cap 3.83%
Theoretical Best
Office A
$536.9K
$469.8K – $626.4K
NOI $37,583 @ 7.0% cap · market cap 10.16%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
3
Residential units
Single-tenant
Tenancy
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
340
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
View Realmo Analytics
Market
Vacancy Rate% for Multifamily in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Triplex - Three residential units include two main-house apartments and a renovated rear cottage with separate utilities.
Where is this triplex located?
The property is located at 68 Tyler Street Depew, NY.
What is the asking price?
The asking price for this property is $369,900.
What are key features of this property?
This property features: Three‑unit property with two 2‑bedroom main‑house apartments and a detached rear cottage; 2,456 square feet on 0.1148 acres; Detached cottage received a complete gut renovation with a new mini‑split heating and A/C system
