Two-Unit Duplex with
For Sale
$210,000
7 Cloyes Ave, Depew, NY 14043
Both apartments are leased, with additional rental income from the on-site garage and a storage shed.
Property Size1,588 SF
Price / SF$132.24
Days on Market30
Property Features for 7 Cloyes Ave
General Information
Standard status
Active
Size
1,588 SF
Total Parking Spaces
2
Property subtype
Multi-Family
Occupancy
100%
Additional Details
Average Monthly Rent
$860
Multifamily Units
2
Amenities
storage shed
Building Details
Year Built
1930
Tenancy
Multi
Listing Agency:
Avant Realty LLC
(716) 463-0108
Listed By:
Charles Glander · License #10491210074
Source:
Skinnercnyrealty
Added: Aug 3
Changed: Aug 30
Last Checked: Aug 30 at 8:47PM
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 1,588-square-foot duplex contains two 1/1 apartments and was built in 1930. The property is well maintained and includes a 2-car garage, a large storage shed, and a sizable lot positioned at the rear of a cul-de-sac.
Both apartments are leased, while the garage is also rented separately, creating multiple income streams within the property. The duplex is located at 7 Cloyes Ave in Depew, New York, and may be acquired individually or packaged with additional properties located along the same cul-de-sac.
Both apartments are leased, while the garage is also rented separately, creating multiple income streams within the property. The duplex is located at 7 Cloyes Ave in Depew, New York, and may be acquired individually or packaged with additional properties located along the same cul-de-sac.
Key Highlights
- Two 1/1 apartments in a 1,588‑square‑foot duplex
- Both apartments are leased
- 2‑car garage currently rented separately
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
$10,210
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
4.86%
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%
$204,200
$204.2K
Cap Rate 7%
$145,857
$145.9K
Cap Rate 9%
$113,444
$113.4K
Market Conditions
NOI Build-Up for 1,588 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
$21.9K $13.80/SF
− Vacancy
−$7.3K −$4.61/SF
EGI
$14.6K $9.19/SF
− OpEx
−$4.4K −$2.76/SF
NOI
$10.2K $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%
$204,200
Cap Rate 7%
$145,857
Cap Rate 9%
$113,444
Alternative Uses
Best Use
Multifamily LT 5
$145.9K
$127.6K – $170.2K
NOI $10,210 @ 7.0% cap · market cap 4.86%
Second Best
Apartment 5plus
$131.0K
$114.6K – $152.8K
NOI $9,169 @ 7.0% cap · market cap 4.37%
Theoretical Best
Office A
$347.1K
$303.8K – $405.0K
NOI $24,300 @ 7.0% cap · market cap 11.57%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
100%
Occupancy
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
461
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
Market
Vacancy Rate% for Multifamily in Northeast region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Duplex - Both apartments are leased, with additional rental income from the on-site garage and a storage shed.
Where is this duplex located?
The property is located at 7 Cloyes Ave Depew, NY.
What is the asking price?
The asking price for this property is $210,000.
What are key features of this property?
This property features: Two 1/1 apartments in a 1,588‑square‑foot duplex; Both apartments are leased; 2‑car garage currently rented separately
