Renovated Two-Family
New
For Sale
$239,900
339 Hampshire Street, Buffalo, NY 14213
Residential, Buffalo, NY
Property Size2,342 SF
Lot Size0.08 Acres
Price / SF$102.43
Days on Market1
Property Features for 339 Hampshire Street
General Information
Property type
Residential Multi Family
Property subtype
Other
Bedrooms
6
Bathrooms
2
Full bathrooms
2
Rooms
Bedroom 5, Bedroom 1, Basement, Bathroom 1, Bedroom 4, Bedroom 2, Bathroom 2, Bedroom 3, Bedroom 6
Parking features
On Street
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
140200-099-430-0003-008-000
Size
2,342 SF
Lot size
0.08 Acres
Taxes and HOA fees
Tax Annual Amount
1650
Utilities
Heating system
Natural Gas, Forced Air
Water source
Public
Building Details
Year built
1912
Floors in Building
2
Number of units
2
Flooring type
Varies, Hardwood, Vinyl
Building materials
VinylSiding
Listing Agency:
Pioneer Star Real Estate Inc.
(716) 689-7250
Listed By:
Pushpa Gunatilake · License #10311200587
(716) 907-3046
Added: Sep 12
Last Checked: Sep 12 at 10:06PM
MLS# B1713849
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.
Located at 339 Hampshire Street, this 2,342-square-foot duplex contains two residential apartments, each with 3 bedrooms and 1 full bathroom. The interiors have been renovated with updated finishes, and the layouts include hardwood and vinyl flooring along with abundant natural light. A gas water heater serves the property, while natural-gas forced-air heating provides the primary heat source.
Built in 1912, the home sits on a 0.0771-acre lot in Buffalo, NY 14213. The exterior uses vinyl siding, public water serves the property, and parking is provided on the street. The two-unit configuration supports owner occupancy with an additional apartment or continued use as a residential income property.
Built in 1912, the home sits on a 0.0771-acre lot in Buffalo, NY 14213. The exterior uses vinyl siding, public water serves the property, and parking is provided on the street. The two-unit configuration supports owner occupancy with an additional apartment or continued use as a residential income property.
Key Highlights
- Two‑unit duplex with 3 bedrooms and 1 full bath in each apartment
- 2,342 square feet of building area
- Renovated interiors with updated finishes and natural light
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
$21,404
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
8.92%
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%
$428,080
$428.1K
Cap Rate 7%
$305,771
$305.8K
Cap Rate 9%
$237,822
$237.8K
Market Conditions
NOI Build-Up for 2,342 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
$40.8K $17.40/SF
− Vacancy
−$1.8K −$0.78/SF
EGI
$38.9K $16.62/SF
− OpEx
−$17.5K −$7.48/SF
NOI
$21.4K $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%
$428,080
Cap Rate 7%
$305,771
Cap Rate 9%
$237,822
Alternative Uses
Best Use
Multifamily LT 5
$332.0K
$290.5K – $387.3K
NOI $23,238 @ 7.0% cap · market cap 9.69%
Second Best
Apartment 5plus
$305.8K
$267.6K – $356.7K
NOI $21,404 @ 7.0% cap · market cap 8.92%
Theoretical Best
Office A
$563.2K
$492.8K – $657.1K
NOI $39,424 @ 7.0% cap · market cap 16.43%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
1,134
Businesses Nearby
Explore this area
Business Placement
Demographics for 14213, NY
25,834
Population
11,397
Households
2.3
Avg Household Size
30
Median Age
36%
College-Educated
81%
High-School Grad
1.9 sq mi
ZIP Area
13,597
Density / Sq Mi
$52,597
Median Household Income
$36,084
Median Earnings
$1,059
Median Rent
$192,300
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in Northeast region
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Frequently Asked Questions
What type of property is this?
Duplex - Two three-bedroom apartments feature updated interiors, natural light, and a full bathroom in each unit.
Where is this duplex located?
The property is located at 339 Hampshire Street Buffalo, NY.
What is the asking price?
The asking price for this property is $239,900.
What are key features of this property?
This property features: Two‑unit duplex with 3 bedrooms and 1 full bath in each apartment; 2,342 square feet of building area; Renovated interiors with updated finishes and natural light
