Duplex with Two-Car
For Sale
$424,900
Pending
334 Summer Street, Buffalo, NY 14222
Residential, Buffalo, NY
Property Size4,052 SF
Lot Size0.15 Acres
Days on Market29
Property Features for 334 Summer Street
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Bedrooms
4
Bathrooms
2
Full bathrooms
2
Rooms
Basement, Bedroom 4, Bathroom 2, Bathroom 1, Bedroom 3, Bedroom 1, Bedroom 2
Parking features
Open, Garage
Interior features
CeilingFans, NaturalWoodwork, BedroomOnMainLevel
Exterior features
Fence
Fencing
Fenced
Fireplace
1
Appliances
GasWaterHeater
Lot features
Rectangular, Rectangular Lot, Residential Lot
Elementary school district
Buffalo
Middle school district
Buffalo
High school district
Buffalo
Directions
Richmond Ave. to Summer St. or Elmwood Ave. to Summer St.
Subdivision
Buffalo City-140200
Standard status
Pending
APN
140200-100-610-0005-012-000
Size
4,052 SF
Lot size
0.15 Acres
Taxes and HOA fees
Tax Annual Amount
5836
Utilities
Heating system
Other (Heating), Hot Water(Heating), Natural Gas
Water source
Public
Amenities
sunroom
fireplace
sitting room
laundry hookups
fenced backyard
Building Details
Year built
1930
Floors in Building
2
Number of units
2
Flooring type
Varies, Hardwood, Carpet, Tile
Building materials
AluminumSiding, Brick
Roof type
Asphalt, Shingle
Architectural style
Other
Listing Agency:
WNY Metro Roberts Realty
(716) 662-0449
Listed By:
Kenneth J Hickok · License #10401213668
(716) 225-5503
Added: Aug 8
Changed: Sep 5
Last Checked: Sep 5 at 6:06PM
MLS# B1703548
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 4,052-square-foot duplex is arranged as a two-family residence with separate first- and second-floor living areas. The lower unit includes an updated kitchen, Corian countertops, hardwood flooring across much of the space, a living room fireplace, dining area, front sunroom, office area, and rear sitting room. The upper unit also has an updated kitchen, separate dining and living rooms, a fireplace, office space, and a naturally bright rear sitting room. Additional rooms and a large storage attic occupy the third floor.
The property sits on 0.1477 acres at 334 Summer Street in Buffalo, between Richmond and Elmwood Avenues. Shops, restaurants, and neighborhood amenities are nearby. Separate gas and electric utilities, basement laundry hookups, open off-street parking, a 2-car garage, and a partially fenced backyard are included. Built in 1930, the home also features public water service, a gas water heater, and natural-gas hot-water heating.
The property sits on 0.1477 acres at 334 Summer Street in Buffalo, between Richmond and Elmwood Avenues. Shops, restaurants, and neighborhood amenities are nearby. Separate gas and electric utilities, basement laundry hookups, open off-street parking, a 2-car garage, and a partially fenced backyard are included. Built in 1930, the home also features public water service, a gas water heater, and natural-gas hot-water heating.
Key Highlights
- 4,052‑square‑foot two‑family property on 0.1477 acres
- Two‑car garage with additional open off‑street parking
- Separate gas and electric utilities for the residential units
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
$37,033
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
8.72%
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%
$740,660
$740.7K
Cap Rate 7%
$529,043
$529.0K
Cap Rate 9%
$411,478
$411.5K
Market Conditions
NOI Build-Up for 4,052 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
$70.5K $17.40/SF
− Vacancy
−$3.2K −$0.78/SF
EGI
$67.3K $16.62/SF
− OpEx
−$30.3K −$7.48/SF
NOI
$37.0K $9.14/SF
Area
Buffalo, NY
Vacancy
4.50%
Lease Rate
$17.40 /SF/Yr
Expense Ratio
45.00%
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%
$740,660
Cap Rate 7%
$529,043
Cap Rate 9%
$411,478
Alternative Uses
Best Use
Multifamily LT 5
$574.4K
$502.6K – $670.1K
NOI $40,206 @ 7.0% cap · market cap 9.46%
Second Best
Apartment 5plus
$529.0K
$462.9K – $617.2K
NOI $37,033 @ 7.0% cap · market cap 8.72%
Theoretical Best
Office A
$974.4K
$852.6K – $1.14M
NOI $68,210 @ 7.0% cap · market cap 16.05%
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
2,452
Businesses Nearby
Explore this area
Business Placement
Demographics for 14222, NY
13,629
Population
7,355
Households
1.9
Avg Household Size
32
Median Age
63%
College-Educated
98%
High-School Grad
1.2 sq mi
ZIP Area
11,358
Density / Sq Mi
$83,692
Median Household Income
$50,045
Median Earnings
$1,168
Median Rent
$408,100
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-family layout includes separate utilities, fireplaces, and off-street parking.
Where is this duplex located?
The property is located at 334 Summer Street Buffalo, NY.
What is the asking price?
The asking price for this property is $424,900.
What are key features of this property?
This property features: 4,052‑square‑foot two‑family property on 0.1477 acres; Two‑car garage with additional open off‑street parking; Separate gas and electric utilities for the residential units
