Vacant Two-Unit
For Sale
$234,900
153 Fisher Street, Buffalo, NY 14215
Residential, Buffalo, NY
Property Size1,737 SF
Lot Size0.10 Acres
Price / SF$135.23
Days on Market11
Property Features for 153 Fisher Street
General Information
Property type
Residential Multi Family
Property subtype
Other
Bedrooms
4
Bathrooms
2
Full bathrooms
2
Rooms
Bedroom 2, Bathroom 2, Bedroom 4, Bedroom 1, Basement, Bedroom 3, Bathroom 1
Appliances
GasWaterHeater
Subdivision
Holland Land Company's Su
Lot features
Near Public Transit, Rectangular, Rectangular Lot, Residential Lot
Elementary school district
Buffalo
Middle school district
Buffalo
High school district
Buffalo
Directions
East Delavan to Fisher St
Standard status
Active
APN
140200-090-830-0003-052-000
Size
1,737 SF
Lot size
0.10 Acres
Taxes and HOA fees
Tax Annual Amount
1396
Utilities
Heating system
Natural Gas, Forced Air
Water source
Public
Building Details
Year built
1925
Floors in Building
1
Number of units
2
Flooring type
Vinyl, Hardwood, Varies
Building materials
Frame
Listing Agency:
Keller Williams Realty WNY
(716) 832-3300
Listed By:
Syed J Rizvi · License #10401279412
(716) 946-2700
Added: Aug 19
Changed: Aug 23
Last Checked: Aug 29 at 5:06PM
MLS# B1708311
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 vacant duplex contains 1,737 square feet on a 0.0956-acre lot in Buffalo, New York. Built in 1925 with frame construction, the property includes two residential units, each with two bedrooms and one full bathroom. The lower residence adds a combined living and dining area plus a sunroom, while the upper residence offers a living room. Vinyl and hardwood flooring vary by area.
A detached two-car garage and wide driveway provide on-site parking. Each unit has separate electric utilities, and the building is served by natural-gas forced-air heat and public water. The property also includes a high basement with a solid foundation and is currently vacant for owner occupancy or rental use.
A detached two-car garage and wide driveway provide on-site parking. Each unit has separate electric utilities, and the building is served by natural-gas forced-air heat and public water. The property also includes a high basement with a solid foundation and is currently vacant for owner occupancy or rental use.
Key Highlights
- Two‑unit duplex with 1,737 square feet of building area
- Lower unit includes two bedrooms, one full bath, combined living‑dining space, and a sunroom
- Upper unit offers two bedrooms, one full bath, and a living room
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
$17,235
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
7.34%
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%
$344,700
$344.7K
Cap Rate 7%
$246,214
$246.2K
Cap Rate 9%
$191,500
$191.5K
Market Conditions
NOI Build-Up for 1,737 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
$26.1K $15.00/SF
− Vacancy
−$1.4K −$0.83/SF
EGI
$24.6K $14.17/SF
− OpEx
−$7.4K −$4.25/SF
NOI
$17.2K $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%
$344,700
Cap Rate 7%
$246,214
Cap Rate 9%
$191,500
Alternative Uses
Best Use
Multifamily LT 5
$246.2K
$215.4K – $287.3K
NOI $17,235 @ 7.0% cap · market cap 7.34%
Second Best
Apartment 5plus
$226.8K
$198.4K – $264.6K
NOI $15,875 @ 7.0% cap · market cap 6.76%
Theoretical Best
Office A
$417.7K
$365.5K – $487.3K
NOI $29,240 @ 7.0% cap · market cap 12.45%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
451
Businesses Nearby
Explore this area
Business Placement
Demographics for 14215, NY
42,447
Population
19,203
Households
2.2
Avg Household Size
33
Median Age
19%
College-Educated
87%
High-School Grad
4.8 sq mi
ZIP Area
8,843
Density / Sq Mi
$43,326
Median Household Income
$29,204
Median Earnings
$993
Median Rent
$102,800
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 - Separate electric utilities serve both residences, with a detached garage and broad driveway.
Where is this duplex located?
The property is located at 153 Fisher Street Buffalo, NY.
What is the asking price?
The asking price for this property is $234,900.
What are key features of this property?
This property features: Two‑unit duplex with 1,737 square feet of building area; Lower unit includes two bedrooms, one full bath, combined living‑dining space, and a sunroom; Upper unit offers two bedrooms, one full bath, and a living room
