Two-Unit Duplex with Detached
For Sale
$249,900
Pending
31 Dartmouth Avenue, Buffalo, NY 14215
Residential, Buffalo, NY
Property Size2,208 SF
Lot Size0.12 Acres
Days on Market61
Property Features for 31 Dartmouth Avenue
General Information
Property type
Residential Multi Family
Property subtype
Other
Bedrooms
4
Bathrooms
2
Full bathrooms
2
Rooms
Basement, Bedroom 3, Bedroom 2, Bathroom 2, Bathroom 1, Bedroom 4, Bedroom 1
Parking features
Garage
Appliances
WaterHeater
Lot features
Rectangular, Rectangular Lot
Elementary school district
Buffalo
Middle school district
Buffalo
High school district
Buffalo
Subdivision
Buffalo City-140200
Standard status
Pending
APN
140200-079-790-0008-007-000
Size
2,208 SF
Lot size
0.12 Acres
Taxes and HOA fees
Tax Annual Amount
1972
Utilities
Heating system
Forced Air, Natural Gas
Water source
Public
Amenities
backyard deck
Building Details
Year built
1930
Floors in Building
2
Number of units
2
Building materials
Frame, VinylSiding
Listing Agency:
Keller Williams Realty WNY
(716) 832-3300
Listed By:
Md Kashem Hossain · License #10401392046
(347) 573-6358
Added: Jun 21
Changed: Aug 20
Last Checked: Aug 20 at 5:06AM
MLS# B1690634
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 1930, this 2,208-square-foot duplex contains two residential units, each arranged with 2 bedrooms, 1 full bathroom, a living room, formal dining room, and kitchen. The property sits on a 0.1194-acre lot and includes a full basement with utility and storage areas, a finished attic, a rear deck, and a detached 2-car garage served by a concrete driveway.
Frame construction with vinyl siding, forced-air natural gas heat, and public water service support the existing residential configuration. The property is located in Buffalo's 14215 ZIP code, with shopping, schools, restaurants, and major transportation routes identified in the surrounding area.
Frame construction with vinyl siding, forced-air natural gas heat, and public water service support the existing residential configuration. The property is located in Buffalo's 14215 ZIP code, with shopping, schools, restaurants, and major transportation routes identified in the surrounding area.
Key Highlights
- Two‑unit duplex with 2,208 square feet of building area
- Each unit includes 2 bedrooms and 1 full bathroom
- Detached 2‑car garage with concrete driveway
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
$21,909
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
8.77%
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%
$438,180
$438.2K
Cap Rate 7%
$312,986
$313.0K
Cap Rate 9%
$243,433
$243.4K
Market Conditions
NOI Build-Up for 2,208 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
$33.1K $15.00/SF
− Vacancy
−$1.8K −$0.83/SF
EGI
$31.3K $14.17/SF
− OpEx
−$9.4K −$4.25/SF
NOI
$21.9K $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%
$438,180
Cap Rate 7%
$312,986
Cap Rate 9%
$243,433
Alternative Uses
Best Use
Multifamily LT 5
$313.0K
$273.9K – $365.2K
NOI $21,909 @ 7.0% cap · market cap 8.77%
Second Best
Apartment 5plus
$288.3K
$252.3K – $336.3K
NOI $20,180 @ 7.0% cap · market cap 8.08%
Theoretical Best
Office A
$531.0K
$464.6K – $619.5K
NOI $37,169 @ 7.0% cap · market cap 14.87%
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
1,085
Businesses Nearby
Explore this area
Business Placement
Demographics for 14215, NY
42,447
Population
19,203
Households
2.2
Avg Household Size
33
Median Age
19%
College-Educated
87%
High-School Grad
4.8 sq mi
ZIP Area
8,843
Density / Sq Mi
$43,326
Median Household Income
$29,204
Median Earnings
$993
Median Rent
$102,800
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 offer formal dining rooms, full basements, and off-street parking.
Where is this duplex located?
The property is located at 31 Dartmouth Avenue 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‑unit duplex with 2,208 square feet of building area; Each unit includes 2 bedrooms and 1 full bathroom; Detached 2‑car garage with concrete driveway
