Duplex With Detached
For Sale
$249,900
Pending
28 Geary Street, Buffalo, NY 14210
Residential, Buffalo, NY
Property Size2,226 SF
Lot Size0.08 Acres
Days on Market65
Property Features for 28 Geary Street
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Zoning description
Residential 2 Unit
Bedrooms
6
Bathrooms
2
Full bathrooms
2
Rooms
Bedroom 6, Bedroom 5, Bedroom 2, Bedroom 4, Bathroom 2, Bedroom 3, Basement, Bathroom 1, Bedroom 1
Patio and Porch features
Porch
Interior features
CeilingFans, NaturalWoodwork, ProgrammableThermostat
Exterior features
Balcony
Fireplace
1
Appliances
GasWaterHeater
Subdivision
Buffalo Crk Reservation
Lot features
Near Public Transit, Rectangular, Rectangular Lot, Residential Lot
Elementary school district
Buffalo
Middle school district
Buffalo
High school district
Buffalo
Directions
Head south on Seneca Street from Mineral Spring Road, turn right on Geary Street, the home will be on your right.
Standard status
Pending
APN
140200-123-810-0010-030-000
Size
2,226 SF
Lot size
0.08 Acres
Taxes and HOA fees
Tax Annual Amount
2171
Utilities
Heating system
Natural Gas, Forced Air
Water source
Public
Building Details
Year built
1900
Floors in Building
2
Number of units
2
Flooring type
Varies, Vinyl, Carpet, Tile, Hardwood
Building materials
VinylSiding, CopperPlumbing
Roof type
Metal
Architectural style
Other
Listing Agency:
Keller Williams Realty WNY
(716) 832-3300
Listed By:
Joshua James · License #10301210944
(716) 697-3280
Added: Jun 26
Changed: Aug 22
Last Checked: Aug 29 at 5:06PM
MLS# B1694140
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 2,226-square-foot duplex, built in 1900, contains two three-bedroom units with distinct living areas, dining space, kitchens, and bathrooms. Interior details include hardwood flooring, natural woodwork, a faux brick fireplace, tile finishes, and balconies or porches. The property has vinyl siding, a metal roof, forced-air natural gas heat, public water, and separate utilities.
A detached one-car garage, fenced backyard, and off-street parking add functional storage and outdoor space. Recent improvements include a metal roof and gutters plus some windows in 2020, a high-efficiency lower furnace in 2019, an upper hot water tank in 2018, and newer electrical services. The property is in Buffalo’s South Buffalo area, near Cazenovia Creek and Park and approximately seven minutes from downtown.
A detached one-car garage, fenced backyard, and off-street parking add functional storage and outdoor space. Recent improvements include a metal roof and gutters plus some windows in 2020, a high-efficiency lower furnace in 2019, an upper hot water tank in 2018, and newer electrical services. The property is in Buffalo’s South Buffalo area, near Cazenovia Creek and Park and approximately seven minutes from downtown.
Key Highlights
- Two three‑bedroom units totaling 2,226 square feet
- Detached one‑car garage, fenced backyard, and off‑street parking
- Separate utilities and laundry hookups
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
$22,087
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
8.84%
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%
$441,740
$441.7K
Cap Rate 7%
$315,529
$315.5K
Cap Rate 9%
$245,411
$245.4K
Market Conditions
NOI Build-Up for 2,226 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
$33.4K $15.00/SF
− Vacancy
−$1.8K −$0.83/SF
EGI
$31.6K $14.17/SF
− OpEx
−$9.5K −$4.25/SF
NOI
$22.1K $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%
$441,740
Cap Rate 7%
$315,529
Cap Rate 9%
$245,411
Alternative Uses
Best Use
Multifamily LT 5
$315.5K
$276.1K – $368.1K
NOI $22,087 @ 7.0% cap · market cap 8.84%
Second Best
Apartment 5plus
$290.6K
$254.3K – $339.1K
NOI $20,344 @ 7.0% cap · market cap 8.14%
Theoretical Best
Office A
$535.3K
$468.4K – $624.5K
NOI $37,472 @ 7.0% cap · market cap 14.99%
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
1,034
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
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Duplex - Two three-bedroom units offer separate utilities, laundry hookups, off-street parking, and private outdoor space.
Where is this duplex located?
The property is located at 28 Geary Street Buffalo, NY.
What is the asking price?
The asking price for this property is $249,900.
What are key features of this property?
This property features: Two three‑bedroom units totaling 2,226 square feet; Detached one‑car garage, fenced backyard, and off‑street parking; Separate utilities and laundry hookups
