Duplex with Detached
For Sale
$399,900
272 Commonwealth Avenue, Buffalo, NY 14216
Residential, Buffalo, NY
Property Size2,954 SF
Lot Size0.12 Acres
Price / SF$135.38
Days on Market51
Property Features for 272 Commonwealth Avenue
General Information
Property type
Residential Multi Family
Property subtype
Other
Bedrooms
6
Bathrooms
2
Full bathrooms
2
Rooms
Bathroom 2, Bedroom 2, Bedroom 6, Bedroom 1, Bedroom 4, Basement, Bedroom 3, Bathroom 1, Bedroom 5
Parking features
Garage
Patio and Porch features
Porch
Exterior features
Balcony
Appliances
GasWaterHeater
Lot features
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
140200-078-560-0002-001-000
Size
2,954 SF
Lot size
0.12 Acres
Taxes and HOA fees
Tax Annual Amount
3583
Utilities
Heating system
Natural Gas, Forced Air
Water source
Public
Amenities
open upper porch
Building Details
Year built
1920
Floors in Building
2
Number of units
2
Flooring type
Tile, Varies, Hardwood, Carpet
Building materials
AtticCrawlHatchwaysInsulated, Frame, VinylSiding
Roof type
Shingle
Listing Agency:
WNY Metro Roberts Realty
(716) 662-0449
Listed By:
Alicia Wittman · License #10301219240
(716) 239-9001
Added: Jul 17
Changed: Sep 5
Last Checked: Sep 5 at 11:06PM
MLS# B1694354
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.
Built in 1920, this Buffalo duplex contains 2,954 square feet across two residential units. The lower residence measures 1,585 square feet, while the upper residence provides 1,369 square feet plus a 209-square-foot open porch. Interior finishes include hardwood, tile, carpet, and varied flooring, with natural-gas forced-air heat and a gas water heater.
The property occupies 0.124 acres at 272 Commonwealth Avenue in Buffalo’s 14216 postal area. A private driveway, updated in 2018, serves the property, along with a 520-square-foot detached garage with space for two vehicles. Public water, a shingle roof, vinyl siding, and an insulated attic crawl hatchway are also included. The North Buffalo Ice Rink, neighborhood parks, and the dining, coffee, and boutique retail options along Hertel Avenue are nearby.
The property occupies 0.124 acres at 272 Commonwealth Avenue in Buffalo’s 14216 postal area. A private driveway, updated in 2018, serves the property, along with a 520-square-foot detached garage with space for two vehicles. Public water, a shingle roof, vinyl siding, and an insulated attic crawl hatchway are also included. The North Buffalo Ice Rink, neighborhood parks, and the dining, coffee, and boutique retail options along Hertel Avenue are nearby.
Key Highlights
- 2,954 square feet configured as a two‑unit duplex
- Lower unit offers 1,585 square feet; upper unit measures 1,369 square feet
- Upper unit includes a 209‑square‑foot open porch
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
$29,311
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
7.33%
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%
$586,220
$586.2K
Cap Rate 7%
$418,729
$418.7K
Cap Rate 9%
$325,678
$325.7K
Market Conditions
NOI Build-Up for 2,954 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
$41.9K $14.17/SF
− OpEx
−$12.6K −$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%
$586,220
Cap Rate 7%
$418,729
Cap Rate 9%
$325,678
Alternative Uses
Best Use
Multifamily LT 5
$418.7K
$366.4K – $488.5K
NOI $29,311 @ 7.0% cap · market cap 7.33%
Second Best
Apartment 5plus
$385.7K
$337.5K – $450.0K
NOI $26,998 @ 7.0% cap · market cap 6.75%
Theoretical Best
Office A
$710.4K
$621.6K – $828.8K
NOI $49,726 @ 7.0% cap · market cap 12.43%
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
1,224
Businesses Nearby
Explore this area
Business Placement
Demographics for 14216, NY
22,979
Population
12,773
Households
1.8
Avg Household Size
37
Median Age
54%
College-Educated
94%
High-School Grad
2.8 sq mi
ZIP Area
8,207
Density / Sq Mi
$70,260
Median Household Income
$47,823
Median Earnings
$1,152
Median Rent
$260,700
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 residential units include a private driveway and an upper outdoor porch.
Where is this duplex located?
The property is located at 272 Commonwealth Avenue Buffalo, NY.
What is the asking price?
The asking price for this property is $399,900.
What are key features of this property?
This property features: 2,954 square feet configured as a two‑unit duplex; Lower unit offers 1,585 square feet; upper unit measures 1,369 square feet; Upper unit includes a 209‑square‑foot open porch
