Updated Side-by-Side
New
For Sale
$415,000
850-852 Madison Avenue, Lewiston, NY 14092
Residential, Lewiston, NY
Property Size2,240 SF
Lot Size0.26 Acres
Price / SF$185.27
Days on Market1
Property Features for 850-852 Madison Avenue
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Bedrooms
5
Bathrooms
4
Full bathrooms
2
Half bathrooms
2
Rooms
Bathroom 1, Bathroom 2, Bedroom 3, Basement, Bedroom 2, Bathroom 4, Bedroom 1, Bathroom 3, Bedroom 4, Bedroom 5
Patio and Porch features
Patio, Porch
Interior features
SlidingGlassDoors
Exterior features
Patio
Appliances
GasWaterHeater
Subdivision
Presidents Park Estates
Lot features
Rectangular, Rectangular Lot, Residential Lot
Elementary school district
Lewiston-Porter
Middle school district
Lewiston-Porter
High school district
Lewiston-Porter
Directions
Creek Rd to Madison Ave
Standard status
Active
APN
292489-088-013-0001-012-000
Size
2,240 SF
Lot size
0.26 Acres
Taxes and HOA fees
Tax Annual Amount
5617
Utilities
Heating system
Natural Gas, Forced Air
Cooling system
Central Air
Water source
Public
Amenities
yard
shed
patio
central air
washer/dryer
Building Details
Year built
1995
Floors in Building
2
Number of units
2
Flooring type
Hardwood, Varies
Building materials
VinylSiding
Roof type
Shingle
Architectural style
Other
Listing Agency:
Keller Williams Realty WNY
(716) 832-3300
Listed By:
Dana Fideli · License #10401268824
(716) 628-5545
Added: Sep 21
Last Checked: Sep 21 at 9:06PM
MLS# B1715899
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 side-by-side duplex at 850-852 Madison Avenue in Lewiston contains 2,240 square feet across two well-maintained residences. One unit provides 3 bedrooms and 1.5 baths, while the other includes 2 bedrooms and 1.5 baths. Both feature bamboo flooring, open living and dining areas, updated kitchens and baths, generous closet storage, central air, and individual basements with laundry. One basement also includes partially finished space.
Separate utilities and water meters support independent management. Each residence includes a washer, dryer, and kitchen appliances. The 0.26-acre property includes a large yard, shed, porch, and a concrete patio with pergola. Yard drainage and grading improvements have been completed, and major updates include a 2023 roof, 2023 sump pump with water backup, a 2023 hot water tank for one unit, a tankless hot water system for the other, and 2024 A/C for one side.
Separate utilities and water meters support independent management. Each residence includes a washer, dryer, and kitchen appliances. The 0.26-acre property includes a large yard, shed, porch, and a concrete patio with pergola. Yard drainage and grading improvements have been completed, and major updates include a 2023 roof, 2023 sump pump with water backup, a 2023 hot water tank for one unit, a tankless hot water system for the other, and 2024 A/C for one side.
Key Highlights
- 2,240 square feet with two side‑by‑side residential units
- Unit mix includes 3 bedrooms and 1.5 baths plus 2 bedrooms and 1.5 baths
- Separate utilities and water meters for each unit
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
$19,673
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
4.74%
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%
$393,460
$393.5K
Cap Rate 7%
$281,043
$281.0K
Cap Rate 9%
$218,589
$218.6K
Market Conditions
NOI Build-Up for 2,240 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
$30.1K $13.44/SF
− Vacancy
−$2.0K −$0.89/SF
EGI
$28.1K $12.55/SF
− OpEx
−$8.4K −$3.76/SF
NOI
$19.7K $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%
$393,460
Cap Rate 7%
$281,043
Cap Rate 9%
$218,589
Alternative Uses
Best Use
Multifamily LT 5
$281.0K
$245.9K – $327.9K
NOI $19,673 @ 7.0% cap · market cap 4.74%
Second Best
Apartment 5plus
$249.4K
$218.3K – $291.0K
NOI $17,461 @ 7.0% cap · market cap 4.21%
Theoretical Best
Warehouse
$1.90M
$1.67M – $2.22M
NOI $133,232 @ 7.0% cap · market cap 32.10%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
2
Residential units
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
7
Businesses Nearby
Explore this area
Business Placement
Demographics for 14092, NY
11,030
Population
5,241
Households
2.1
Avg Household Size
51
Median Age
40%
College-Educated
95%
High-School Grad
21.2 sq mi
ZIP Area
520
Density / Sq Mi
$67,835
Median Household Income
$48,315
Median Earnings
$979
Median Rent
$246,300
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
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Frequently Asked Questions
What type of property is this?
Duplex - Two separately metered units offer flexible owner-occupancy or rental use.
Where is this duplex located?
The property is located at 850-852 Madison Avenue Lewiston, NY.
What is the asking price?
The asking price for this property is $415,000.
What are key features of this property?
This property features: 2,240 square feet with two side‑by‑side residential units; Unit mix includes 3 bedrooms and 1.5 baths plus 2 bedrooms and 1.5 baths; Separate utilities and water meters for each unit
