Two-Unit Duplex with
For Sale
$139,999
24 Persia Street, Buffalo, NY 14211
Residential, Buffalo, NY
Property Size1,345 SF
Lot Size0.08 Acres
Price / SF$104.09
Days on Market18
Property Features for 24 Persia Street
General Information
Property type
Residential Multi Family
Property subtype
Other
Bedrooms
4
Bathrooms
2
Full bathrooms
2
Rooms
Bedroom 1, Bathroom 2, Bedroom 4, Bedroom 2, Bedroom 3, Bathroom 1
Parking features
Driveway
Patio and Porch features
Deck, Porch
Exterior features
Deck, FullyFenced
Fencing
Fenced
Appliances
GasWaterHeater
Lot features
Rectangular, Rectangular Lot, Residential Lot
Elementary school district
Buffalo
Middle school district
Buffalo
High school district
Buffalo
Directions
Doat Street to Persia Street
Subdivision
Buffalo City-140200
Standard status
Active
APN
140200-101-510-0003-024-000
Size
1,345 SF
Lot size
0.08 Acres
Taxes and HOA fees
Tax Annual Amount
1049
Utilities
Heating system
Natural Gas, Forced Air
Water source
Public
Amenities
backyard
deck
Building Details
Year built
1910
Floors in Building
1
Number of units
2
Flooring type
Vinyl, Varies
Building materials
BlownInInsulation, Block, CompositeSiding, Concrete
Roof type
Asphalt
Architectural style
Other
Listing Agency:
Keller Williams Realty WNY
(716) 832-3300
Listed By:
Joseph Brown · License #10401344902
(716) 550-6771
Added: Aug 12
Changed: Aug 22
Last Checked: Aug 29 at 7:06PM
MLS# B1706529
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 contains 1,345 square feet with four total bedrooms and two full bathrooms. The lower residence includes two bedrooms, a full bathroom, a combined living and dining room, and a kitchen. Upstairs, the second residence provides two bedrooms, a full bathroom, a living room, an eat-in kitchen, and additional storage. The property was built in 1910 and is heated by natural gas with forced-air service.
Exterior features include a deck, porch, fenced yard, asphalt roofing, and a driveway. Public water serves the property, while a gas water heater is installed. Located at 24 Persia Street in Buffalo, the duplex is near Schiller Park, the Buffalo-Cheektowaga border, shopping, dining, entertainment, and everyday amenities. I-90 is also nearby for regional access.
Exterior features include a deck, porch, fenced yard, asphalt roofing, and a driveway. Public water serves the property, while a gas water heater is installed. Located at 24 Persia Street in Buffalo, the duplex is near Schiller Park, the Buffalo-Cheektowaga border, shopping, dining, entertainment, and everyday amenities. I-90 is also nearby for regional access.
Key Highlights
- Two‑unit duplex with 4 bedrooms and 2 full bathrooms
- 1,345 square feet on a 0.0833‑acre lot
- Lower unit includes combined living and dining room plus kitchen
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
$12,292
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
8.78%
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%
$245,840
$245.8K
Cap Rate 7%
$175,600
$175.6K
Cap Rate 9%
$136,578
$136.6K
Market Conditions
NOI Build-Up for 1,345 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
$23.4K $17.40/SF
− Vacancy
−$1.1K −$0.78/SF
EGI
$22.3K $16.62/SF
− OpEx
−$10.1K −$7.48/SF
NOI
$12.3K $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%
$245,840
Cap Rate 7%
$175,600
Cap Rate 9%
$136,578
Alternative Uses
Best Use
Multifamily LT 5
$190.7K
$166.8K – $222.4K
NOI $13,346 @ 7.0% cap · market cap 9.53%
Second Best
Apartment 5plus
$175.6K
$153.7K – $204.9K
NOI $12,292 @ 7.0% cap · market cap 8.78%
Theoretical Best
Office A
$323.4K
$283.0K – $377.4K
NOI $22,641 @ 7.0% cap · market cap 16.17%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
416
Businesses Nearby
Explore this area
Business Placement
Demographics for 14211, NY
26,449
Population
11,498
Households
2.3
Avg Household Size
32
Median Age
15%
College-Educated
84%
High-School Grad
3.9 sq mi
ZIP Area
6,782
Density / Sq Mi
$34,490
Median Household Income
$30,705
Median Earnings
$1,008
Median Rent
$91,600
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 - Two separate residences offer four bedrooms, two full bathrooms, and outdoor space in Buffalo.
Where is this duplex located?
The property is located at 24 Persia Street Buffalo, NY.
What is the asking price?
The asking price for this property is $139,999.
What are key features of this property?
This property features: Two‑unit duplex with 4 bedrooms and 2 full bathrooms; 1,345 square feet on a 0.0833‑acre lot; Lower unit includes combined living and dining room plus kitchen
