161 Norman Avenue Buffalo, NY 14210
MULTI_FAMILY - Other - Buffalo, NY
Property Features for 161 Norman Avenue
General Information
- Property type
- Residential Multi Family
- Property subtype
- Other
- Bedrooms
- 3
- Bathrooms
- 2
- Rooms
- Bathroom 1, Bedroom 3, Bathroom 2, Basement, Bedroom 2, Bedroom 1
- Appliances
- GasWaterHeater
- Standard status
- Active
- APN
- 140200-123-820-0003-041-000
- Size
- 1,622 SF
- Lot size
- 0.11 Acres
Taxes and HOA fees
- Tax Annual Amount
- 2171
Utilities
- Heating system
- Natural Gas, Forced Air
- Water source
- Public
Building Details
- Year built
- 1955
- Floors in Building
- 2
- Number of units
- 2
- Flooring type
- Hardwood, Vinyl, Varies
- Building materials
- Frame, VinylSiding
- Architectural style
- Other
Listing agent John M Capriotto License #10401375313 (716) 603-7072
Listing office Keller Williams Realty WNY 5500 Main St. Ste. 108, Williamsville, NY (716) 832-3300
Listing date Jul 12, 2026
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.
Water is the only utility included in rent. The property is within walking distance to stores, restaurants, and Cazenovia Park.
For investors or owner-occupants seeking a duplex configuration, the layout supports two distinct living spaces with separate laundry setups and basement access tied to the lower unit.
Key Highlights
- Renovated 2‑unit home with a lower 2‑bedroom unit and an upper 1‑bedroom unit
- Lower unit is currently vacant and provides access to the full basement with laundry connections
- Upper 1‑bedroom unit has in‑unit laundry and is rented month to month at $650
Local 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 | $24.3k | $15.00 |
| − Vacancy | −$1.3k | −$0.83 |
| EGI | $23.0k | $14.17 |
| − OpEx | −$6.9k | −$4.25 |
| NOI | $16.1k | $9.92 |
