Brick Duplex with Finished
For Sale
$184,900
Pending
734 Willow Ave, Niagara Falls, NY 14305
Two separate units provide laundry hookups, individual utilities, and basement storage access.
Property Size1,850 SF
Days on Market127
Property Features for 734 Willow Ave
General Information
Standard status
Pending
Size
1,850 SF
Property subtype
Multi Family
Units
Unit Mix
2 x 2BR
Multifamily Units
2
Taxes and HOA fees
Annual Taxes
$1,394
Building Details
Building Size
1,850 SF
Year Built
1915
Buildings
1
Stories
2
Units
2
Construction
brick
Listing Agency:
WNY METRO ROBERTS REALTY
(716) 800-7150
Listed By:
Maya Haddad · License #10301220957
(716) 800-7150
Source:
Elliman
Added: Apr 27
Changed: Aug 29
Last Checked: Aug 30 at 5:01PM
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 WNY METRO ROBERTS REALTY
Investment Insights
Based on property information with market context.
Built in 1915, this 1,850-square-foot brick duplex at 734 Willow Ave includes two residential units, each with two bedrooms. The lower residence has stained-glass windows, updated flooring, and fresh paint. Upstairs, hardwood floors and a private stairway to a finished attic expand the living arrangement with additional flexible space. Both units provide separate utilities, washer and dryer hookups, and basement storage access.
Recent property updates include a roof completed in 2020 and a hot water tank replaced in 2016. The property is about 1.5 miles from the Rainbow Bridge, with nearby access to Seneca Niagara Casino, Whirlpool State Park, and the Niagara Gorge Rim Trail. Walk Score is 60, BikeScore is 49, and Transit Score is 30.
Recent property updates include a roof completed in 2020 and a hot water tank replaced in 2016. The property is about 1.5 miles from the Rainbow Bridge, with nearby access to Seneca Niagara Casino, Whirlpool State Park, and the Niagara Gorge Rim Trail. Walk Score is 60, BikeScore is 49, and Transit Score is 30.
Key Highlights
- Two‑unit brick duplex with 1,850 sq ft of total building area
- Both units offer 2 bedrooms
- Upper unit includes a private staircase to a finished attic
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
$16,247
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
8.79%
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%
$324,940
$324.9K
Cap Rate 7%
$232,100
$232.1K
Cap Rate 9%
$180,522
$180.5K
Market Conditions
NOI Build-Up for 1,850 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
$24.9K $13.44/SF
− Vacancy
−$1.7K −$0.89/SF
EGI
$23.2K $12.55/SF
− OpEx
−$7.0K −$3.76/SF
NOI
$16.2K $8.78/SF
Area
Niagara County, NY
Vacancy
6.65%
Lease Rate
$13.44 /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%
$324,940
Cap Rate 7%
$232,100
Cap Rate 9%
$180,522
Alternative Uses
Best Use
Multifamily LT 5
$232.1K
$203.1K – $270.8K
NOI $16,247 @ 7.0% cap · market cap 8.79%
Second Best
Apartment 5plus
$206.0K
$180.3K – $240.4K
NOI $14,421 @ 7.0% cap · market cap 7.80%
Theoretical Best
Warehouse
$1.57M
$1.38M – $1.83M
NOI $110,036 @ 7.0% cap · market cap 59.51%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
715
Businesses Nearby
Explore this area
Business Placement
Demographics for 14305, NY
16,427
Population
8,348
Households
2
Avg Household Size
37
Median Age
25%
College-Educated
92%
High-School Grad
7.8 sq mi
ZIP Area
2,106
Density / Sq Mi
$49,588
Median Household Income
$30,314
Median Earnings
$798
Median Rent
$109,200
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?
Duplex - Two separate units provide laundry hookups, individual utilities, and basement storage access.
Where is this duplex located?
The property is located at 734 Willow Ave Niagara Falls, NY.
What is the asking price?
The asking price for this property is $184,900.
What are key features of this property?
This property features: Two‑unit brick duplex with 1,850 sq ft of total building area; Both units offer 2 bedrooms; Upper unit includes a private staircase to a finished attic
