Updated Two-Family
New
For Sale
$224,900
86 High St, Angola, NY 14006
Two apartments offer three-bedroom layouts, a walk-up attic, covered porch, and gated outdoor space.
Property Size1,936 SF
Days on Market6
Property Features for 86 High St
General Information
Standard status
Active
Size
1,936 SF
Property subtype
Multi Family
Site & Location
Road Access
Yes
Public Transit
Yes
Units
Unit Mix
2 x 3BR
Multifamily Units
2
Taxes and HOA fees
Annual Taxes
$7,664
Amenities
covered front porch
gated yard
Building Details
Building Size
1,936 SF
Year Built
1910
Buildings
1
Stories
2
Units
2
Listing Agency:
Keller Williams Realty WNY
(716) 501-8814
Listed By:
Stephen Zattosky · License #10401285918
(716) 501-8814
Source:
Elliman
Added: Aug 11
Changed: Aug 13
Last Checked: Aug 16 at 4:37AM
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 Keller Williams Realty WNY
Investment Insights
Based on property information with market context.
Located at 86 High St in Evans, this two-family duplex includes two three-bedroom apartments with functional layouts. The property features a walk-up attic, covered front porch, and large gated yard with room for outdoor use, gardening, or pets. Access from two streets supports convenient entry and parking. The home was built in 1910 and has received several recent updates, including a metal roof installed in 2023, new basement breaker panels, a water heater and HVAC system for the downstairs apartment, and a new sump pump basin.
The property sits beside an elementary school and across from a church in a quiet neighborhood. Downtown Angola is within walking distance, while NFTA bus routes 76 and 2 are approximately a three-minute walk away. The walk-up attic may offer additional finished-space possibilities, subject to local zoning and permitting requirements.
The property sits beside an elementary school and across from a church in a quiet neighborhood. Downtown Angola is within walking distance, while NFTA bus routes 76 and 2 are approximately a three-minute walk away. The walk-up attic may offer additional finished-space possibilities, subject to local zoning and permitting requirements.
Key Highlights
- Two three‑bedroom apartments in a duplex configuration
- New metal roof installed in 2023
- Walk‑up attic with potential for finished space, subject to zoning and permitting
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
$12,448
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
5.53%
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%
$248,960
$249.0K
Cap Rate 7%
$177,829
$177.8K
Cap Rate 9%
$138,311
$138.3K
Market Conditions
NOI Build-Up for 1,936 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
$26.7K $13.80/SF
− Vacancy
−$8.9K −$4.61/SF
EGI
$17.8K $9.19/SF
− OpEx
−$5.3K −$2.76/SF
NOI
$12.4K $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%
$248,960
Cap Rate 7%
$177,829
Cap Rate 9%
$138,311
Alternative Uses
Best Use
Multifamily LT 5
$177.8K
$155.6K – $207.5K
NOI $12,448 @ 7.0% cap · market cap 5.53%
Second Best
Apartment 5plus
$159.7K
$139.7K – $186.3K
NOI $11,178 @ 7.0% cap · market cap 4.97%
Theoretical Best
Office A
$423.2K
$370.3K – $493.8K
NOI $29,625 @ 7.0% cap · market cap 13.17%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
167
Businesses Nearby
Explore this area
Business Placement
Demographics for 14006, NY
9,140
Population
5,012
Households
1.8
Avg Household Size
49
Median Age
25%
College-Educated
93%
High-School Grad
28.1 sq mi
ZIP Area
325
Density / Sq Mi
$62,019
Median Household Income
$45,044
Median Earnings
$956
Median Rent
$154,800
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 apartments offer three-bedroom layouts, a walk-up attic, covered porch, and gated outdoor space.
Where is this duplex located?
The property is located at 86 High St Angola, NY.
What is the asking price?
The asking price for this property is $224,900.
What are key features of this property?
This property features: Two three‑bedroom apartments in a duplex configuration; New metal roof installed in 2023; Walk‑up attic with potential for finished space, subject to zoning and permitting
