Brick Duplex with Detached
For Sale
$350,000
Pending
160 Lovering Avenue, Buffalo, NY 14216
Residential, Buffalo, NY
Property Size2,592 SF
Lot Size0.12 Acres
Days on Market65
Property Features for 160 Lovering Avenue
General Information
Property type
Residential Multi Family
Property subtype
Other
Bedrooms
6
Bathrooms
2
Full bathrooms
2
Rooms
Bedroom 5, Bedroom 6, Bathroom 2, Bedroom 2, Bathroom 1, Bedroom 3, Bedroom 1, Bedroom 4, Basement
Parking features
Garage
Patio and Porch features
Porch
Interior features
CeilingFans, Storage, NaturalWoodwork
Exterior features
Balcony, Fence, PrivateYard
Fencing
Fenced
Fireplace
1
Appliances
GasWaterHeater
Lot features
Rectangular, Rectangular Lot, Residential Lot
Elementary school district
Buffalo
Middle school district
Buffalo
High school district
Buffalo
Directions
Hertel to Lovering. Sign in place.
Subdivision
Buffalo City-140200
Standard status
Pending
APN
140200-078-560-0001-005-000
Size
2,592 SF
Lot size
0.12 Acres
Taxes and HOA fees
Tax Annual Amount
4347
Utilities
Heating system
Natural Gas, Forced Air
Water source
Public
Amenities
private balcony
rear porches
manicured backyard
full basement
separate storage areas
individual laundry hookups
walk-up attic
Building Details
Year built
1926
Floors in Building
2
Number of units
2
Flooring type
Carpet, Vinyl, Varies, Hardwood
Building materials
Brick, VinylSiding, CopperPlumbing
Roof type
Shingle
Architectural style
Other
Additional Structures
Storage
Listing Agency:
Keller Williams Realty WNY
(716) 832-3300
Listed By:
Jennifer E Manz · License #40MA0982275
(716) 984-7891
Added: Jun 17
Changed: Aug 20
Last Checked: Aug 20 at 4:06AM
MLS# B1691044
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.
Built in 1926, this 2,592-square-foot duplex contains two three-bedroom apartments and two bathrooms. A shared front foyer provides independent entry to each unit, while both apartments include living and dining rooms, kitchens, and bedroom areas. The lower apartment has an additional front room, and the upper apartment includes a private balcony. Original woodwork, rear porches, a full basement with storage areas, and a walk-up attic add functional space. Individual laundry hookups are located in the basement, and the lower unit’s stove is included.
The property occupies 0.1188 acres at 160 Lovering Avenue in Buffalo, NY 14216. Exterior features include brick and vinyl siding, replacement windows installed from 2003–2007, a tear-off roof and new gutters completed in 2016, a backyard fence added in 2017, and reinforced rear porches in 2026. A detached two-car garage serves the property, while public water, natural-gas forced-air heating, and a shingle roof are also provided.
The property occupies 0.1188 acres at 160 Lovering Avenue in Buffalo, NY 14216. Exterior features include brick and vinyl siding, replacement windows installed from 2003–2007, a tear-off roof and new gutters completed in 2016, a backyard fence added in 2017, and reinforced rear porches in 2026. A detached two-car garage serves the property, while public water, natural-gas forced-air heating, and a shingle roof are also provided.
Key Highlights
- 2,592‑square‑foot duplex with two three‑bedroom apartments and two bathrooms
- Detached two‑car garage on a 0.1188‑acre lot
- Separate apartment entries through a shared front foyer
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
$25,719
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
7.35%
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%
$514,380
$514.4K
Cap Rate 7%
$367,414
$367.4K
Cap Rate 9%
$285,767
$285.8K
Market Conditions
NOI Build-Up for 2,592 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
$38.9K $15.00/SF
− Vacancy
−$2.1K −$0.83/SF
EGI
$36.7K $14.17/SF
− OpEx
−$11.0K −$4.25/SF
NOI
$25.7K $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%
$514,380
Cap Rate 7%
$367,414
Cap Rate 9%
$285,767
Alternative Uses
Best Use
Multifamily LT 5
$367.4K
$321.5K – $428.7K
NOI $25,719 @ 7.0% cap · market cap 7.35%
Second Best
Apartment 5plus
$338.4K
$296.1K – $394.8K
NOI $23,689 @ 7.0% cap · market cap 6.77%
Theoretical Best
Office A
$623.3K
$545.4K – $727.2K
NOI $43,633 @ 7.0% cap · market cap 12.47%
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
1,168
Businesses Nearby
Explore this area
Business Placement
Demographics for 14216, NY
22,979
Population
12,773
Households
1.8
Avg Household Size
37
Median Age
54%
College-Educated
94%
High-School Grad
2.8 sq mi
ZIP Area
8,207
Density / Sq Mi
$70,260
Median Household Income
$47,823
Median Earnings
$1,152
Median Rent
$260,700
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 separate apartments feature original woodwork, private outdoor areas, and dedicated laundry hookups.
Where is this duplex located?
The property is located at 160 Lovering Avenue Buffalo, NY.
What is the asking price?
The asking price for this property is $350,000.
What are key features of this property?
This property features: 2,592‑square‑foot duplex with two three‑bedroom apartments and two bathrooms; Detached two‑car garage on a 0.1188‑acre lot; Separate apartment entries through a shared front foyer
