Duplex with Patio and Fenced
For Sale
$389,900
Pending
99 S Prince Drive, Depew, NY 14043
Residential, Depew, NY
Property Size2,800 SF
Lot Size0.17 Acres
Days on Market98
Property Features for 99 S Prince Drive
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning description
Residential 2 Unit
Bedrooms
5
Bathrooms
3
Full bathrooms
2
Half bathrooms
1
Rooms
Bedroom 3, Bathroom 1, Bedroom 1, Bathroom 2, Bedroom 5, Bedroom 2, Bedroom 4, Basement, Bathroom 3
Parking features
Garage, Open
Patio and Porch features
Patio
Interior features
SlidingGlassDoors
Exterior features
Fence, Patio
Fencing
Fenced
Appliances
GasWaterHeater
Lot features
Rectangular, Rectangular Lot, Residential Lot
Elementary school district
Depew
Middle school district
Depew
High school district
Depew
Directions
South on Transit Rd, Right on Jessica, Left on N Prince-To S. Prince North on Transit Rd, Left on Jessica, Left on N Prince-To S. Prince
Subdivision
Cheektowaga-143089
Standard status
Pending
APN
143089-125-120-0008-024-000
Size
2,800 SF
Lot size
0.17 Acres
Taxes and HOA fees
Tax Annual Amount
9492
Utilities
Heating system
Baseboard, Natural Gas, Electric (Heating)
Cooling system
Central Air
Water source
Public
Building Details
Year built
1972
Floors in Building
2
Number of units
2
Flooring type
Vinyl
Building materials
Brick, Frame, VinylSiding, CopperPlumbing
Roof type
Shingle, Asphalt
Architectural style
Other
Listing Agency:
WNY Metro Roberts Realty
(716) 559-9972
Listed By:
Jeannine Meinzer · License #10401326635
(716) 698-9021
Added: May 15
Changed: Aug 19
Last Checked: Aug 20 at 2:06AM
MLS# B1681881
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 duplex at 99 S Prince Drive offers two residential units with a total property size of 2,800 square feet on a 0.17-acre lot. The lower unit features 3 bedrooms and 1.5 bathrooms and includes a large kitchen with granite countertops and an island, along with a sliding glass door from the family room to a 3-season room that overlooks a partially fenced yard. A partially finished basement and a 2.5-car garage provide additional space. Updates include most lower windows replaced in 2024 and a roof installed in 2018, with deluxe vinyl flooring throughout.
The upper unit is tenant occupied on a month-to-month basis and includes kitchen appliances, with a washer and dryer located in the basement. Appliances and systems noted for the property include a gas water heater and central air. Exterior features include a patio and fenced areas.
Built in 1972 with brick and frame construction, the duplex is served by public water and uses natural gas and electric baseboard heating. Showings can accommodate the lower unit at any time, with 24-hour notice required for upper unit showings scheduled after 4pm.
The upper unit is tenant occupied on a month-to-month basis and includes kitchen appliances, with a washer and dryer located in the basement. Appliances and systems noted for the property include a gas water heater and central air. Exterior features include a patio and fenced areas.
Built in 1972 with brick and frame construction, the duplex is served by public water and uses natural gas and electric baseboard heating. Showings can accommodate the lower unit at any time, with 24-hour notice required for upper unit showings scheduled after 4pm.
Key Highlights
- 0.17‑acre lot with 2,800 SF total building size
- Lower unit: 3 bedrooms and 1.5 bathrooms
- 3‑season room accessed by sliding glass door to family room overlooking fenced yard
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
$18,003
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
4.62%
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%
$360,060
$360.1K
Cap Rate 7%
$257,186
$257.2K
Cap Rate 9%
$200,033
$200.0K
Market Conditions
NOI Build-Up for 2,800 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
$38.6K $13.80/SF
− Vacancy
−$12.9K −$4.61/SF
EGI
$25.7K $9.19/SF
− OpEx
−$7.7K −$2.76/SF
NOI
$18.0K $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%
$360,060
Cap Rate 7%
$257,186
Cap Rate 9%
$200,033
Alternative Uses
Best Use
Multifamily LT 5
$257.2K
$225.0K – $300.1K
NOI $18,003 @ 7.0% cap · market cap 4.62%
Second Best
Apartment 5plus
$230.9K
$202.1K – $269.4K
NOI $16,166 @ 7.0% cap · market cap 4.15%
Theoretical Best
Office A
$612.1K
$535.6K – $714.1K
NOI $42,847 @ 7.0% cap · market cap 10.99%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Multi-tenant
Tenancy
Yes
Fenced yard
Location Intelligence
Trade Area within ½ mile
466
Businesses Nearby
Explore this area
Business Placement
Demographics for 14043, NY
24,962
Population
11,743
Households
2.1
Avg Household Size
45
Median Age
27%
College-Educated
94%
High-School Grad
9.1 sq mi
ZIP Area
2,743
Density / Sq Mi
$73,373
Median Household Income
$50,263
Median Earnings
$1,072
Median Rent
$192,800
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 - Duplex in Depew with central air, fenced yard, patio, and a lower 3-bedroom, 1.5-bath unit.
Where is this duplex located?
The property is located at 99 S Prince Drive Depew, NY.
What is the asking price?
The asking price for this property is $389,900.
What are key features of this property?
This property features: 0.17‑acre lot with 2,800 SF total building size; Lower unit: 3 bedrooms and 1.5 bathrooms; 3‑season room accessed by sliding glass door to family room overlooking fenced yard
