Side-by-Side Brick
For Sale
$242,550
Pending
73 Marlowe Ave, Hamburg, NY 14219
Side-by-side brick duplex with two units, private driveway, and a detached garage.
Property Size2,216 SF
Days on Market61
Property Features for 73 Marlowe Ave
General Information
Standard status
Pending
Size
2,216 SF
Property subtype
Multi Family
Additional Details
Multifamily Units
2
Taxes and HOA fees
Annual Taxes
$6,505
Building Details
Building Size
2,216 SF
Year Built
1955
Units
2
Tenancy
Multi
Listing Agency:
Red Door Real Estate WNY LLC
Listed By:
Renee Moran · License #10491202951
(716) 768-1177
Source:
Elliman
Added: Jul 17
Changed: Sep 14
Last Checked: Sep 15 at 6:57AM
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 Red Door Real Estate WNY LLC
Investment Insights
Based on property information with market context.
This side-by-side brick duplex offers two separate units with a solid brick exterior. One unit features 4 bedrooms and 2 full baths, while the second unit includes 1 bedroom and 1 full bath. The property also includes a private driveway with pull-in access to a detached garage.
Located in Blasdell, the home is described as being just minutes from McKinley Mall, Woodlawn Beach State Park, shopping and dining, and major routes.
The configuration provides a straightforward two-unit layout with off-street parking and a detached garage, offering a practical setup for investors or an owner-occupant looking for additional rental income potential.
Located in Blasdell, the home is described as being just minutes from McKinley Mall, Woodlawn Beach State Park, shopping and dining, and major routes.
The configuration provides a straightforward two-unit layout with off-street parking and a detached garage, offering a practical setup for investors or an owner-occupant looking for additional rental income potential.
Key Highlights
- Side‑by‑side brick duplex with 2 units
- Unit mix: one unit has 4 bedrooms and 2 full baths; the other has 1 bedroom and 1 full bath
- 1955 brick exterior with brick fence and rectangular lot (75x115)
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
$14,248
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
5.87%
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%
$284,960
$285.0K
Cap Rate 7%
$203,543
$203.5K
Cap Rate 9%
$158,311
$158.3K
Market Conditions
NOI Build-Up for 2,216 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
$30.6K $13.80/SF
− Vacancy
−$10.2K −$4.61/SF
EGI
$20.4K $9.19/SF
− OpEx
−$6.1K −$2.76/SF
NOI
$14.2K $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%
$284,960
Cap Rate 7%
$203,543
Cap Rate 9%
$158,311
Alternative Uses
Best Use
Multifamily LT 5
$203.5K
$178.1K – $237.5K
NOI $14,248 @ 7.0% cap · market cap 5.87%
Second Best
Apartment 5plus
$182.8K
$159.9K – $213.2K
NOI $12,794 @ 7.0% cap · market cap 5.27%
Theoretical Best
Office A
$484.4K
$423.9K – $565.2K
NOI $33,910 @ 7.0% cap · market cap 13.98%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
2
Residential units
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
361
Businesses Nearby
Explore this area
Business Placement
Demographics for 14219, NY
11,593
Population
5,612
Households
2.1
Avg Household Size
42
Median Age
21%
College-Educated
94%
High-School Grad
6.9 sq mi
ZIP Area
1,680
Density / Sq Mi
$75,465
Median Household Income
$45,957
Median Earnings
$928
Median Rent
$181,800
Median Home Value
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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 - Side-by-side brick duplex with two units, private driveway, and a detached garage.
Where is this duplex located?
The property is located at 73 Marlowe Ave Hamburg, NY.
What is the asking price?
The asking price for this property is $242,550.
What are key features of this property?
This property features: Side‑by‑side brick duplex with 2 units; Unit mix: one unit has 4 bedrooms and 2 full baths; the other has 1 bedroom and 1 full bath; 1955 brick exterior with brick fence and rectangular lot (75x115)
