Three-Family Residential
For Sale
$179,900
818 Ashland Avenue, Niagara Falls, NY 14301
Three-unit property features two 1-bedroom apartments and one 2-bedroom unit with separate utilities.
Property Size2,136 SF
Price / SF$85.67
Days on Market52
Property Features for 818 Ashland Avenue
General Information
Standard status
Active
Size
2,136 SF
Property subtype
Multi Family
Additional Details
Multifamily Units
3
Taxes and HOA fees
Annual Taxes
$1,642
Building Details
Building Size
2,136 SF
Year Built
1910
Listing Agency:
HUNT Real Estate ERA
Listed By:
Paul Dolan · License #10301220500
(716) 775-7500
Source:
Highfallssir
Added: Jul 17
Changed: Sep 2
Last Checked: Sep 6 at 10:06AM
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 HUNT Real Estate ERA
Investment Insights
Based on property information with market context.
This three-family residential property at 818 Ashland Ave offers a practical unit mix with two 1-bedroom apartments and one 2-bedroom apartment. The units are set up with separate utilities, including newer separate furnaces, helping streamline building management and reducing shared owner responsibilities.
The property is connected to public water and sewer and is described as a manageable multi-unit layout with over 2,100 square feet of space.
Positioned near Portage Road amenities, the address provides convenient access to everyday services and area destinations, including Tops Market, the bus depot, local shops, and downtown Niagara Falls.
The property is connected to public water and sewer and is described as a manageable multi-unit layout with over 2,100 square feet of space.
Positioned near Portage Road amenities, the address provides convenient access to everyday services and area destinations, including Tops Market, the bus depot, local shops, and downtown Niagara Falls.
Key Highlights
- 3‑family property built in 1910 with 3 total units and over 2,100 SF
- Unit mix includes two 1‑bedroom apartments and one 2‑bedroom apartment
- Separate utilities for each unit, supporting easier individual unit management
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
$16,370
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
9.10%
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%
$327,400
$327.4K
Cap Rate 7%
$233,857
$233.9K
Cap Rate 9%
$181,889
$181.9K
Market Conditions
NOI Build-Up for 2,100 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
$32.0K $15.24/SF
− Vacancy
−$2.2K −$1.07/SF
EGI
$29.8K $14.17/SF
− OpEx
−$13.4K −$6.38/SF
NOI
$16.4K $7.80/SF
Area
Niagara County, NY
Vacancy
7.00%
Lease Rate
$15.24 /SF/Yr
Expense Ratio
45.00%
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%
$327,400
Cap Rate 7%
$233,857
Cap Rate 9%
$181,889
Alternative Uses
Best Use
Multifamily LT 5
$263.5K
$230.5K – $307.4K
NOI $18,443 @ 7.0% cap · market cap 10.25%
Second Best
Apartment 5plus
$233.9K
$204.6K – $272.8K
NOI $16,370 @ 7.0% cap · market cap 9.10%
Theoretical Best
Warehouse
$1.78M
$1.56M – $2.08M
NOI $124,905 @ 7.0% cap · market cap 69.43%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
3
Residential units
Location Intelligence
Trade Area within ½ mile
1,015
Businesses Nearby
Explore this area
Business Placement
Demographics for 14301, NY
12,618
Population
7,285
Households
1.7
Avg Household Size
38
Median Age
18%
College-Educated
85%
High-School Grad
2.1 sq mi
ZIP Area
6,009
Density / Sq Mi
$37,650
Median Household Income
$32,909
Median Earnings
$722
Median Rent
$79,200
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?
Triplex - Three-unit property features two 1-bedroom apartments and one 2-bedroom unit with separate utilities.
Where is this triplex located?
The property is located at 818 Ashland Avenue Niagara Falls, NY.
What is the asking price?
The asking price for this property is $179,900.
What are key features of this property?
This property features: 3‑family property built in 1910 with 3 total units and over 2,100 SF; Unit mix includes two 1‑bedroom apartments and one 2‑bedroom apartment; Separate utilities for each unit, supporting easier individual unit management
