Renovated Duplex with Fenced
For Sale
$375,000
286 Carolina Street, Buffalo, NY 14201
MULTI_FAMILY - Other - Buffalo, NY
Property Size1,922 SF
Lot Size0.04 Acres
Price / SF$195.11
Days on Market30
Property Features for 286 Carolina Street
General Information
Property type
Residential Multi Family
Property subtype
Other
Bedrooms
4
Bathrooms
2
Full bathrooms
2
Rooms
Bedroom 2, Basement, Bedroom 4, Bathroom 1, Bathroom 2, Bedroom 1, Bedroom 3
Parking features
On Street, Driveway
Security features
Security
Patio and Porch features
Patio
Exterior features
FullyFenced, Fence, Patio
Fencing
Fenced
Appliances
GasWaterHeater
Lot features
Near Public Transit, 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
140200-111-290-0002-021-000
Size
1,922 SF
Lot size
0.04 Acres
Taxes and HOA fees
Tax Annual Amount
2093
Utilities
Heating system
Forced Air, Natural Gas
Cooling system
Central Air
Water source
Public
Amenities
electric fireplace
quartz countertops
tile backsplash
custom cabinetry
center island
stainless steel appliances
tile showers
marble flooring
glass doors
LED-mirror vanities
in-unit laundry
smart thermostats
Ring doorbells/cameras
smart locks
fenced patio
basement
attic
Building Details
Year built
1900
Floors in Building
2
Number of units
2
Flooring type
Vinyl, Tile, Varies
Building materials
VinylSiding
Roof type
Shingle
Architectural style
Other
Listing Agency:
Keller Williams Realty WNY
(716) 832-3300
Listed By:
John Santora III · License #10401291249
(716) 908-4304
Added: Jul 17
Changed: Aug 14
Last Checked: Aug 15 at 7:06AM
MLS# B1699378
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 1,922-square-foot duplex underwent a stud-level renovation in 2024, with redesigned interiors and substantial structural and mechanical work. Both two-bedroom units include open living areas, electric fireplaces, eat-in kitchens with quartz countertops, custom cabinetry, island seating, and stainless steel appliances. Updated bathrooms feature tiled showers, marble flooring, glass doors, and LED-mirror vanities. Each unit also has private laundry, central air, high-efficiency furnaces, smart thermostats, and hardwired Ring doorbells and cameras.
The property includes a full tear-off shingle roof, newer windows, vinyl siding, upgraded electrical panels, new drain and sewer lines to the city main, and a new vent stack. A fenced rear patio, concrete porch and walkways, rebuilt exterior stairs, full basement, and full attic add practical utility. Located one block from Elmwood Ave and near Allentown, Elmwood Village, Downtown Buffalo, Chippewa, and the Buffalo Niagara Medical Campus. One unit is currently leased, while the upper unit is scheduled to be available September 1.
The property includes a full tear-off shingle roof, newer windows, vinyl siding, upgraded electrical panels, new drain and sewer lines to the city main, and a new vent stack. A fenced rear patio, concrete porch and walkways, rebuilt exterior stairs, full basement, and full attic add practical utility. Located one block from Elmwood Ave and near Allentown, Elmwood Village, Downtown Buffalo, Chippewa, and the Buffalo Niagara Medical Campus. One unit is currently leased, while the upper unit is scheduled to be available September 1.
Key Highlights
- 1,922 square feet with two 2‑bedroom units
- Stud‑level renovation completed in 2024
- Quartz kitchens with custom cabinetry, islands, and stainless steel appliances
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
$19,071
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
5.09%
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%
$381,420
$381.4K
Cap Rate 7%
$272,443
$272.4K
Cap Rate 9%
$211,900
$211.9K
Market Conditions
NOI Build-Up for 1,922 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
$28.8K $15.00/SF
− Vacancy
−$1.6K −$0.83/SF
EGI
$27.2K $14.17/SF
− OpEx
−$8.2K −$4.25/SF
NOI
$19.1K $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%
$381,420
Cap Rate 7%
$272,443
Cap Rate 9%
$211,900
Alternative Uses
Best Use
Multifamily LT 5
$272.4K
$238.4K – $317.9K
NOI $19,071 @ 7.0% cap · market cap 5.09%
Second Best
Apartment 5plus
$250.9K
$219.6K – $292.8K
NOI $17,566 @ 7.0% cap · market cap 4.68%
Theoretical Best
Office A
$462.2K
$404.4K – $539.2K
NOI $32,354 @ 7.0% cap · market cap 8.63%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
4,351
Businesses Nearby
Explore this area
Business Placement
Demographics for 14201, NY
12,364
Population
7,172
Households
1.7
Avg Household Size
33
Median Age
39%
College-Educated
84%
High-School Grad
1.1 sq mi
ZIP Area
11,240
Density / Sq Mi
$34,204
Median Household Income
$34,081
Median Earnings
$953
Median Rent
$327,900
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 spacious two-bedroom units feature updated kitchens, in-unit laundry, private entrances, and modern mechanical systems.
Where is this duplex located?
The property is located at 286 Carolina Street Buffalo, NY.
What is the asking price?
The asking price for this property is $375,000.
What are key features of this property?
This property features: 1,922 square feet with two 2‑bedroom units; Stud‑level renovation completed in 2024; Quartz kitchens with custom cabinetry, islands, and stainless steel appliances
