Two-Family Home with Adjacent
132 Royal Avenue Buffalo, NY 14207
For Sale
$199,000
MULTI_FAMILY - Other - Buffalo, NY
Property Size1,840 SF
Lot Size0.07 Acres
Price / SF$108.15
Days on Market15
Property Features for 132 Royal Avenue
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Bedrooms
3
Bathrooms
2
Rooms
Basement, Bathroom 1, Bedroom 1, Bedroom 3, Bedroom 2, Bathroom 2
Patio and Porch features
Porch
Interior features
Attic, NaturalWoodwork, BedroomOnMainLevel
Exterior features
EnclosedPorch, Porch
Appliances
GasWaterHeater
Standard status
Active
APN
140200-077-560-0005-004-000
Size
1,840 SF
Lot size
0.07 Acres
Taxes and HOA fees
Tax Annual Amount
1773
Utilities
Heating system
Forced Air, Natural Gas
Water source
Public
Building Details
Year built
1900
Floors in Building
2
Number of units
2
Flooring type
Vinyl
Building materials
VinylSiding, PexPlumbing
Roof type
Shingle
Architectural style
Other
Listing Agency:
MJ Peterson Real Estate Inc.
(716) 689-7800
Listed By:
Nicholas M Lunetta · License #10401366040
(716) 861-7171
Added: Jul 16
Changed: Jul 29
Last Checked: Jul 30 at 1:06AM
MLS# B1695678
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.
132 Royal Avenue is a two-family residential income property offering a flexible, updated layout and direct access to a finished third-floor attic from the second unit. The home includes a screened-in front porch, newer vinyl replacement windows, forced air furnaces, updated bathrooms, fresh interior paint, and new LVP flooring. Recent improvements include a new roof, two newer 100-amp electrical panels, and two newer hot water tanks.
The lower unit can function as a 1- or 2-bedroom apartment and includes a kitchen, living/dining room, family room, a spacious bedroom, and a full bathroom. The upstairs unit features two bedrooms, a large eat-in kitchen, and an expansive living room with a dedicated dining area, with stairs providing direct access to the finished attic.
The sale also includes an adjacent lot, adding options for expansion, outdoor living, or additional parking. The property is located in Buffalo, NY 14207.
The lower unit can function as a 1- or 2-bedroom apartment and includes a kitchen, living/dining room, family room, a spacious bedroom, and a full bathroom. The upstairs unit features two bedrooms, a large eat-in kitchen, and an expansive living room with a dedicated dining area, with stairs providing direct access to the finished attic.
The sale also includes an adjacent lot, adding options for expansion, outdoor living, or additional parking. The property is located in Buffalo, NY 14207.
Key Highlights
- Two‑family home with flexible unit layout: lower unit can function as a 1- or 2‑bedroom apartment
- Finished third‑floor attic accessed from the second‑floor unit, offering potential to expand living space
- Recent updates include a new shingle roof (25'), two newer 100‑amp electrical panels, and two newer gas hot water tanks (19' & 22')
Financial Insights For Multifamily LT 5
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $27.6k | $15.00 |
| − Vacancy | −$1.5k | −$0.83 |
| EGI | $26.1k | $14.17 |
| − OpEx | −$7.8k | −$4.25 |
| NOI | $18.3k | $9.92 |
1,840 SF · lease $15.00/SF/yr · vacancy 5.50% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$260.8K
$228.2K – $304.3K
NOI $18,257 @ 7.0% cap · market cap 9.17%
Second Best
Apartment 5plus
$240.2K
$210.2K – $280.3K
NOI $16,816 @ 7.0% cap · market cap 8.45%
Theoretical Best
Office A
$442.5K
$387.2K – $516.2K
NOI $30,974 @ 7.0% cap · market cap 15.56%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use
Frequently Asked Questions
What type of property is this?
Duplex - Two-unit residential income property with recent updates and direct access to a finished third-floor attic.
Where is this duplex located?
The property is located at 132 Royal Avenue Buffalo, NY.
What is the asking price?
The asking price for this property is $199,000.
What are key features of this property?
This property features: Two‑family home with flexible unit layout: lower unit can function as a 1- or 2‑bedroom apartment; Finished third‑floor attic accessed from the second‑floor unit, offering potential to expand living space; Recent updates include a new shingle roof (25'), two newer 100‑amp electrical panels, and two newer gas hot water tanks (19' & 22')
