Brick Duplex with Fenced
For Sale
$349,000
Pending
120 E Summerset Lane, Buffalo, NY 14228
Residential, Buffalo, NY
Property Size2,562 SF
Lot Size0.19 Acres
Days on Market52
Property Features for 120 E Summerset Lane
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning description
Residential 2 Unit
Bedrooms
6
Bathrooms
4
Full bathrooms
2
Half bathrooms
2
Rooms
Bedroom 1, Bathroom 2, Bedroom 2, Bathroom 1, Basement, Bathroom 3, Bathroom 4, Bedroom 6, Bedroom 4, Bedroom 3, Bedroom 5
Exterior features
FullyFenced
Fencing
Fenced
Appliances
GasWaterHeater
Lot features
Near Public Transit, Rectangular, Rectangular Lot, Residential Lot
Elementary school district
Sweet Home
Middle school district
Sweet Home
High school district
Sweet Home
Directions
Niagara Falls Boulevard to Empire State Trail to East Summerset Lane
Subdivision
Amherst-142289
Standard status
Pending
APN
142289-026-100-0003-022-000
Size
2,562 SF
Lot size
0.19 Acres
Taxes and HOA fees
Tax Annual Amount
6356
Utilities
Heating system
Natural Gas, Forced Air
Cooling system
Central Air
Water source
Public
Amenities
full basement
washer and dryer
fully fenced yard
large free-standing shed
Building Details
Year built
1970
Floors in Building
2
Number of units
2
Flooring type
Hardwood, Vinyl, Varies
Building materials
AtticCrawlHatchwaysInsulated, Brick, VinylSiding, CopperPlumbing, PexPlumbing
Roof type
Asphalt
Architectural style
Other
Listing Agency:
WNY Metro Roberts Realty
(716) 875-2211
Listed By:
Alan Miller · License #10401326370
(716) 880-6723
Added: Aug 11
Changed: Sep 15
Last Checked: Oct 1 at 10:06PM
MLS# B1705663
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 2,562-square-foot brick duplex, built in 1970, contains two separate residences with private front and rear entrances. Each side includes a formal living room, dining room, kitchen with substantial storage, three bedrooms, a full bathroom, and a half bathroom. Unit One has updated flooring, countertops, trim, carpeting, and interior paint, while Unit Two retains its own distinct interior finish. Full basement space provides additional utility, including a washer and dryer. Household appliances are included in the sale.
The 0.186-acre parcel at 120 E Summerset Lane features a fully fenced yard that adjoins green space and includes a freestanding storage shed. Natural gas forced-air heat, central air, public water, an asphalt roof, and generous off-street parking support the property’s residential operation. The home is located near the University at Buffalo, shopping, dining, and major commuter routes.
The 0.186-acre parcel at 120 E Summerset Lane features a fully fenced yard that adjoins green space and includes a freestanding storage shed. Natural gas forced-air heat, central air, public water, an asphalt roof, and generous off-street parking support the property’s residential operation. The home is located near the University at Buffalo, shopping, dining, and major commuter routes.
Key Highlights
- Two‑unit brick duplex with 2,562 square feet of building area
- Each side has three bedrooms, a full bath, and a half bath
- Private front and rear entrances for both residences
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
$25,421
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
7.28%
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%
$508,420
$508.4K
Cap Rate 7%
$363,157
$363.2K
Cap Rate 9%
$282,456
$282.5K
Market Conditions
NOI Build-Up for 2,562 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
$38.4K $15.00/SF
− Vacancy
−$2.1K −$0.83/SF
EGI
$36.3K $14.17/SF
− OpEx
−$10.9K −$4.25/SF
NOI
$25.4K $9.92/SF
Area
Buffalo, NY
Vacancy
5.50%
Lease Rate
$15.00 /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%
$508,420
Cap Rate 7%
$363,157
Cap Rate 9%
$282,456
Alternative Uses
Best Use
Multifamily LT 5
$363.2K
$317.8K – $423.7K
NOI $25,421 @ 7.0% cap · market cap 7.28%
Second Best
Apartment 5plus
$334.5K
$292.7K – $390.3K
NOI $23,415 @ 7.0% cap · market cap 6.71%
Theoretical Best
Office A
$616.1K
$539.1K – $718.8K
NOI $43,128 @ 7.0% cap · market cap 12.36%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
347
Businesses Nearby
Explore this area
Business Placement
Demographics for 14228, NY
23,945
Population
10,601
Households
2.3
Avg Household Size
32
Median Age
49%
College-Educated
92%
High-School Grad
15.9 sq mi
ZIP Area
1,506
Density / Sq Mi
$72,426
Median Household Income
$40,958
Median Earnings
$1,264
Median Rent
$246,100
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in Northeast region
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Frequently Asked Questions
What type of property is this?
Duplex - Two residences offer private entrances, off-street parking, full basements, and separate three-bedroom layouts.
Where is this duplex located?
The property is located at 120 E Summerset Lane Buffalo, NY.
What is the asking price?
The asking price for this property is $349,000.
What are key features of this property?
This property features: Two‑unit brick duplex with 2,562 square feet of building area; Each side has three bedrooms, a full bath, and a half bath; Private front and rear entrances for both residences
