Two-Unit Duplex with Large
For Sale
$265,000
Pending
251 Springville Avenue, Buffalo, NY 14226
MULTI_FAMILY - Other - Buffalo, NY
Property Size1,659 SF
Lot Size0.11 Acres
Days on Market154
Property Features for 251 Springville Avenue
General Information
Property type
Residential Multi Family
Property subtype
Other
Bedrooms
4
Bathrooms
2
Full bathrooms
2
Rooms
Basement, Bedroom 3, Bedroom 1, Bedroom 4, Bathroom 2, Bedroom 2, Bathroom 1
Appliances
GasWaterHeater
Lot features
Near Public Transit, Rectangular, Rectangular Lot, Residential Lot
Elementary school district
Amherst
Middle school district
Amherst
High school district
Amherst
Directions
Use Google Maps
Subdivision
Amherst-142289
Standard status
Pending
APN
142289-067-800-0002-035-000
Size
1,659 SF
Lot size
0.11 Acres
Taxes and HOA fees
Tax Annual Amount
5402
Utilities
Heating system
Natural Gas, Forced Air
Water source
Public
Amenities
garage
Building Details
Year built
1946
Floors in Building
2
Number of units
2
Flooring type
Carpet, Varies, Vinyl, Hardwood
Building materials
AluminumSiding, Brick
Architectural style
Other
Listing Agency:
WNY Metro Roberts Realty
(716) 646-6400
Listed By:
Christopher Ricci · License #10401286662
(716) 880-7022
Added: Mar 9
Changed: Aug 1
Last Checked: Aug 9 at 2:06PM
MLS# B1665479
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.
Two-unit duplex at 251 Springville Avenue with a practical layout that includes bedrooms and bathrooms in both units, along with a basement level. The home is heated with natural gas forced air, and features a gas water heater. Construction includes aluminum siding and brick, and the flooring includes a mix of carpet, vinyl, and hardwood.
The property is located in Buffalo’s 14226 area, with access described as minutes from UB South. A large garage provides additional functionality for storage, parking, or tenant appeal.
From a building-system standpoint, major mechanicals are described as in great shape, including furnaces in excellent condition and hot water tanks that are about two years old. With some cosmetic updates, the property is positioned to improve its income-producing presentation.
The property is located in Buffalo’s 14226 area, with access described as minutes from UB South. A large garage provides additional functionality for storage, parking, or tenant appeal.
From a building-system standpoint, major mechanicals are described as in great shape, including furnaces in excellent condition and hot water tanks that are about two years old. With some cosmetic updates, the property is positioned to improve its income-producing presentation.
Key Highlights
- Two‑unit duplex with basement level
- Lot size: 0.1054 acres
- Building size: 1,659 SF
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
$16,461
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
6.21%
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%
$329,220
$329.2K
Cap Rate 7%
$235,157
$235.2K
Cap Rate 9%
$182,900
$182.9K
Market Conditions
NOI Build-Up for 1,659 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
$24.9K $15.00/SF
− Vacancy
−$1.4K −$0.83/SF
EGI
$23.5K $14.17/SF
− OpEx
−$7.1K −$4.25/SF
NOI
$16.5K $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%
$329,220
Cap Rate 7%
$235,157
Cap Rate 9%
$182,900
Alternative Uses
Best Use
Multifamily LT 5
$235.2K
$205.8K – $274.4K
NOI $16,461 @ 7.0% cap · market cap 6.21%
Second Best
Apartment 5plus
$216.6K
$189.5K – $252.7K
NOI $15,162 @ 7.0% cap · market cap 5.72%
Theoretical Best
Office A
$399.0K
$349.1K – $465.5K
NOI $27,927 @ 7.0% cap · market cap 10.54%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Multi-tenant
Tenancy
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
525
Businesses Nearby
Explore this area
Business Placement
Demographics for 14226, NY
29,861
Population
13,282
Households
2.2
Avg Household Size
38
Median Age
57%
College-Educated
95%
High-School Grad
6.9 sq mi
ZIP Area
4,328
Density / Sq Mi
$83,023
Median Household Income
$48,994
Median Earnings
$1,093
Median Rent
$237,500
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-unit duplex with natural gas forced-air heating and public water, plus a large garage for storage or parking.
Where is this duplex located?
The property is located at 251 Springville Avenue Buffalo, NY.
What is the asking price?
The asking price for this property is $265,000.
What are key features of this property?
This property features: Two‑unit duplex with basement level; Lot size: 0.1054 acres; Building size: 1,659 SF
