Two-Unit Duplex with
For Sale
$219,000
163 Landon Street, Buffalo, NY 14208
Residential, Buffalo, NY
Property Size2,184 SF
Lot Size0.17 Acres
Price / SF$100.27
Days on Market81
Property Features for 163 Landon Street
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
Appliances
GasWaterHeater
Lot features
Near Public Transit, Rectangular, Rectangular Lot, Residential Lot
Elementary school district
Buffalo
Middle school district
Buffalo
High school district
Buffalo
Subdivision
Buffalo City-140200
Standard status
Active
APN
140200-100-510-0002-001-100
Size
2,184 SF
Lot size
0.17 Acres
Taxes and HOA fees
Tax Annual Amount
1097
Utilities
Heating system
Natural Gas, Forced Air
Water source
Public
Amenities
full basement
spacious side yard
Building Details
Year built
1900
Floors in Building
2
Number of units
2
Flooring type
Vinyl, Varies, Hardwood
Building materials
VinylSiding
Listing Agency:
Keller Williams Realty WNY
(716) 832-3300
Listed By:
Shirajum Monira · License #10401363530
(929) 326-4912
Added: Jun 1
Changed: Aug 20
Last Checked: Aug 20 at 4:06AM
MLS# B1686333
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 two-unit duplex in Buffalo contains 2,184 square feet and was built in 1900. Each residence is arranged with 3 bedrooms, 1 full bathroom, a living room, formal dining room, and kitchen. Vinyl siding, mixed vinyl and hardwood flooring, natural-gas forced-air heat, and a gas water heater are among the existing features.
Both units are tenant-occupied. The property also includes a full basement, off-street parking, and a side yard on a 0.1678-acre lot. Public water serves the building, while nearby parks, shopping, restaurants, schools, and major commuter routes add everyday convenience. The duplex is located at 163 Landon Street in Buffalo, NY 14208.
Both units are tenant-occupied. The property also includes a full basement, off-street parking, and a side yard on a 0.1678-acre lot. Public water serves the building, while nearby parks, shopping, restaurants, schools, and major commuter routes add everyday convenience. The duplex is located at 163 Landon Street in Buffalo, NY 14208.
Key Highlights
- Two‑unit duplex with 2,184 square feet of building area
- Each unit includes 3 bedrooms and 1 full bathroom
- Both residences are currently tenant‑occupied
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
$19,960
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
9.11%
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%
$399,200
$399.2K
Cap Rate 7%
$285,143
$285.1K
Cap Rate 9%
$221,778
$221.8K
Market Conditions
NOI Build-Up for 2,184 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
$38.0K $17.40/SF
− Vacancy
−$1.7K −$0.78/SF
EGI
$36.3K $16.62/SF
− OpEx
−$16.3K −$7.48/SF
NOI
$20.0K $9.14/SF
Area
Buffalo, NY
Vacancy
4.50%
Lease Rate
$17.40 /SF/Yr
Expense Ratio
45.00%
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%
$399,200
Cap Rate 7%
$285,143
Cap Rate 9%
$221,778
Alternative Uses
Best Use
Multifamily LT 5
$309.6K
$270.9K – $361.2K
NOI $21,671 @ 7.0% cap · market cap 9.90%
Second Best
Apartment 5plus
$285.1K
$249.5K – $332.7K
NOI $19,960 @ 7.0% cap · market cap 9.11%
Theoretical Best
Office A
$525.2K
$459.6K – $612.8K
NOI $36,765 @ 7.0% cap · market cap 16.79%
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
676
Businesses Nearby
Explore this area
Business Placement
Demographics for 14208, NY
12,088
Population
5,884
Households
2.1
Avg Household Size
33
Median Age
23%
College-Educated
85%
High-School Grad
1.2 sq mi
ZIP Area
10,073
Density / Sq Mi
$46,940
Median Household Income
$23,804
Median Earnings
$932
Median Rent
$118,900
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 - Tenant-occupied units provide three bedrooms, a full bathroom, living room, dining room, and kitchen apiece.
Where is this duplex located?
The property is located at 163 Landon Street Buffalo, NY.
What is the asking price?
The asking price for this property is $219,000.
What are key features of this property?
This property features: Two‑unit duplex with 2,184 square feet of building area; Each unit includes 3 bedrooms and 1 full bathroom; Both residences are currently tenant‑occupied
