Renovated Two-Family Home with
For Sale
$259,900
Pending
2049 Seneca Street, Buffalo, NY 14210
MULTI_FAMILY - Other - Buffalo, NY
Property Size2,420 SF
Lot Size0.08 Acres
Days on Market66
Property Features for 2049 Seneca Street
General Information
Property type
Residential Multi Family
Property subtype
Other
Bedrooms
6
Bathrooms
2
Full bathrooms
2
Rooms
Bedroom 2, Bathroom 1, Basement, Bedroom 3, Bedroom 1, Bedroom 4, Bathroom 2, Bedroom 5, Bedroom 6
Exterior features
Balcony, FullyFenced, PrivateYard
Fencing
Fenced
Appliances
GasWaterHeater
Lot features
Near Public Transit, Rectangular, Rectangular Lot, Residential Lot
Elementary school district
Buffalo
Middle school district
Buffalo
High school district
Buffalo
Directions
Geary to Seneca Or Use GPS
Subdivision
Buffalo City-140200
Standard status
Pending
APN
140200-123-810-0009-017-000
Size
2,420 SF
Lot size
0.08 Acres
Taxes and HOA fees
Tax Annual Amount
2042
Utilities
Heating system
Zoned, Hot Water(Heating), Natural Gas, Forced Air
Cooling system
Zoned
Water source
Public
Amenities
private balcony
front porch
Building Details
Year built
1910
Floors in Building
2
Number of units
2
Flooring type
Varies, Tile, Vinyl
Building materials
VinylSiding, WoodSiding
Roof type
Asphalt
Architectural style
Other
Listing Agency:
WNY Metro Roberts Realty
(716) 891-1710
Listed By:
Mohammed S Uddin · License #10401370001
(917) 500-9227
Added: Jun 5
Changed: Aug 1
Last Checked: Aug 9 at 3:06PM
MLS# B1688139
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.
Welcome to 2049 Seneca Street, a renovated two-family home with two identical units. Each unit features three bedrooms, a large kitchen, a living room with a dining area, and a separate dining room that can serve as a family room or additional living space. The home also offers a full basement and a full attic for storage and potential future use.
Interior updates include lifetime warranty vinyl flooring, new kitchen cabinets, a range hood, countertops, and additional improvements. The foundation is described as being in excellent condition. Major upgrades include a roof installed a few years ago, newer furnaces for both units, and two relatively new hot water tanks.
Outside, enjoy a private balcony and a welcoming front porch. The property includes public water, a fenced exterior with a private yard, and natural gas forced-air heating with zoned heating and zoned cooling.
Interior updates include lifetime warranty vinyl flooring, new kitchen cabinets, a range hood, countertops, and additional improvements. The foundation is described as being in excellent condition. Major upgrades include a roof installed a few years ago, newer furnaces for both units, and two relatively new hot water tanks.
Outside, enjoy a private balcony and a welcoming front porch. The property includes public water, a fenced exterior with a private yard, and natural gas forced-air heating with zoned heating and zoned cooling.
Key Highlights
- Two identical units, each with three bedrooms, large kitchen, and dining area
- Renovations include lifetime warranty vinyl flooring, new kitchen cabinets, range hood, and countertops
- Full basement and full attic for storage and potential future use
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
$22,117
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
8.51%
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%
$442,340
$442.3K
Cap Rate 7%
$315,957
$316.0K
Cap Rate 9%
$245,744
$245.7K
Market Conditions
NOI Build-Up for 2,420 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
$42.1K $17.40/SF
− Vacancy
−$1.9K −$0.78/SF
EGI
$40.2K $16.62/SF
− OpEx
−$18.1K −$7.48/SF
NOI
$22.1K $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%
$442,340
Cap Rate 7%
$315,957
Cap Rate 9%
$245,744
Alternative Uses
Best Use
Multifamily LT 5
$343.0K
$300.2K – $400.2K
NOI $24,012 @ 7.0% cap · market cap 9.24%
Second Best
Apartment 5plus
$316.0K
$276.5K – $368.6K
NOI $22,117 @ 7.0% cap · market cap 8.51%
Theoretical Best
Office A
$582.0K
$509.2K – $679.0K
NOI $40,737 @ 7.0% cap · market cap 15.67%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
635
Businesses Nearby
Explore this area
Business Placement
Demographics for 14210, NY
15,480
Population
7,813
Households
2
Avg Household Size
36
Median Age
19%
College-Educated
85%
High-School Grad
3.1 sq mi
ZIP Area
4,994
Density / Sq Mi
$51,059
Median Household Income
$31,652
Median Earnings
$925
Median Rent
$124,300
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 - Renovated two-family home with two identical units, multiple bedrooms, basement and attic, plus private balcony and porch.
Where is this duplex located?
The property is located at 2049 Seneca Street Buffalo, NY.
What is the asking price?
The asking price for this property is $259,900.
What are key features of this property?
This property features: Two identical units, each with three bedrooms, large kitchen, and dining area; Renovations include lifetime warranty vinyl flooring, new kitchen cabinets, range hood, and countertops; Full basement and full attic for storage and potential future use
