Updated Two-Unit
New
For Sale
$539,000
219 Woodward Avenue, Buffalo, NY 14214
Residential, Buffalo, NY
Property Size2,950 SF
Lot Size0.13 Acres
Price / SF$182.71
Days on Market7
Property Features for 219 Woodward Avenue
General Information
Property type
Residential Multi Family
Property subtype
Other
Bedrooms
6
Bathrooms
2
Full bathrooms
2
Rooms
Bedroom 3, Bedroom 6, Bathroom 1, Bedroom 1, Bathroom 2, Bedroom 5, Bedroom 2, Bedroom 4, Basement
Parking features
Garage
Appliances
GasWaterHeater
Lot features
Rectangular, Rectangular Lot, Residential Lot
Elementary school district
Buffalo
Middle school district
Buffalo
High school district
Buffalo
Directions
Jewett Parkway, Crescent Ave or West Oakwood to Woodward Avenue.
Subdivision
Buffalo City-140200
Standard status
Active
APN
140200-089-420-0002-030-000
Size
2,950 SF
Lot size
0.13 Acres
Taxes and HOA fees
Tax Annual Amount
4799
Utilities
Heating system
Natural Gas, Forced Air
Cooling system
Central Air
Water source
Public
Amenities
large front porches
in-unit laundry hookups
central air
Building Details
Year built
1920
Floors in Building
2
Number of units
2
Flooring type
Varies, Tile, Vinyl
Building materials
Frame
Architectural style
Other
Listing Agency:
Gurney Becker & Bourne
(716) 849-1234
Listed By:
Christian L Reitler · License #10401290363
(716) 435-0908
Added: Aug 14
Changed: Aug 19
Last Checked: Aug 20 at 1:06AM
MLS# B1706248
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 1920 frame duplex contains 2,950 square feet across two three-bedroom residences. Both units feature open living areas, high ceilings, natural light, front porches, updated kitchens with stainless steel appliances, tile backsplashes, and granite or quartz countertops. Renovated bathrooms, ceramic tile walk-in showers, luxury vinyl plank flooring, newer lighting, updated wiring, plumbing improvements, and reinforced basement joists add to the property’s functional appeal. Each residence includes laundry hookups and central air, while the upper unit also has a newer furnace, air-conditioning system, and hot water tank.
The property occupies 0.1326 acres at 219 Woodward Avenue in Buffalo, NY 14214, near Delaware Park and Frank Lloyd Wright’s Darwin Martin House. Parking includes a two-car garage with an automatic opener and space for two additional vehicles. Separate utilities serve the residences, and both units are scheduled to be vacant at closing.
The property occupies 0.1326 acres at 219 Woodward Avenue in Buffalo, NY 14214, near Delaware Park and Frank Lloyd Wright’s Darwin Martin House. Parking includes a two-car garage with an automatic opener and space for two additional vehicles. Separate utilities serve the residences, and both units are scheduled to be vacant at closing.
Key Highlights
- 2,950‑square‑foot duplex with two three‑bedroom units
- 0.1326‑acre lot at 219 Woodward Avenue, Buffalo, NY 14214
- Renovated kitchens include stainless steel appliances and granite or quartz counters
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
$29,271
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
5.43%
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%
$585,420
$585.4K
Cap Rate 7%
$418,157
$418.2K
Cap Rate 9%
$325,233
$325.2K
Market Conditions
NOI Build-Up for 2,950 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
$44.3K $15.00/SF
− Vacancy
−$2.4K −$0.83/SF
EGI
$41.8K $14.17/SF
− OpEx
−$12.5K −$4.25/SF
NOI
$29.3K $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%
$585,420
Cap Rate 7%
$418,157
Cap Rate 9%
$325,233
Alternative Uses
Best Use
Multifamily LT 5
$418.2K
$365.9K – $487.9K
NOI $29,271 @ 7.0% cap · market cap 5.43%
Second Best
Apartment 5plus
$385.2K
$337.0K – $449.4K
NOI $26,961 @ 7.0% cap · market cap 5.00%
Theoretical Best
Office A
$709.4K
$620.7K – $827.7K
NOI $49,659 @ 7.0% cap · market cap 9.21%
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
1,035
Businesses Nearby
Explore this area
Business Placement
Demographics for 14214, NY
20,732
Population
9,280
Households
2.2
Avg Household Size
32
Median Age
46%
College-Educated
90%
High-School Grad
3.3 sq mi
ZIP Area
6,282
Density / Sq Mi
$56,573
Median Household Income
$29,928
Median Earnings
$1,072
Median Rent
$234,600
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 property with separate utilities, central air, garage parking, and vacant units at closing.
Where is this duplex located?
The property is located at 219 Woodward Avenue Buffalo, NY.
What is the asking price?
The asking price for this property is $539,000.
What are key features of this property?
This property features: 2,950‑square‑foot duplex with two three‑bedroom units; 0.1326‑acre lot at 219 Woodward Avenue, Buffalo, NY 14214; Renovated kitchens include stainless steel appliances and granite or quartz counters
