Spacious Two-Family Home on Double
47 Fargo Avenue, Buffalo, NY 14201
MULTI_FAMILY - Buffalo, NY
Property size:
3,952 SFLot size:
0.13 AcresPrice / SF:
$121/SF- Added:
- Apr 26, 2026
- Days on Market:
- 31
- Last Refresh:
- May 26 at 6:06 am
Property Features for 47 Fargo Avenue
General Information
- Property type
- Residential Multi Family
- Property subtype
- Other
- Bedrooms
- 6
- Bathrooms
- 2
- Rooms
- Bedroom 6, Bedroom 5, Bedroom 3, Bedroom 2, Bedroom 4, Bathroom 1, Bedroom 1, Bathroom 2, Basement
- Appliances
- GasWaterHeater
- Standard status
- Active
- APN
- 140200-099-840-0003-039-000
- Size
- 3,952 SF
- Lot size
- 0.13 Acres
Taxes and HOA fees
- Tax Annual Amount
- 2801
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, Tile, Hardwood
Listing agent Damian O'Meally License #10401279028 (585) 775-5169
Listing office Keller Williams Realty WNY 5500 Main St. Ste. 108, Williamsville, NY (716) 832-3300
Listing date Apr 26, 2026
MLS# B1674913
Listing URL
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.
HighLights
- Expansive double lot (over one‑third of an acre) in the Fargo Estate Historic District provides rare space and privacy.
- Two‑family home with income‑producing apartment (Apartment 1 currently producing $1400/month).
- Spacious 3/3 layout including a two‑story owner's suite with multiple balconies and generous room sizes.
- Adjoining vacant lot offers a fully fenced, park‑like setting with mature trees and lush greenery.
- Updated features include a six‑year‑old roof, updated windows, forced air heating, and separate utilities.
- Off‑street parking for multiple vehicles with potential for expansion.
Overview
This two-family home is located in the Fargo Estate Historic District. Situated on a double lot of 0.1333 acres, the property features a 3/3 layout. The property includes a two-story owner's suite with large room sizes, multiple balconies, and a kitchen. A second-floor laundry room adds convenience. Original architectural details are present throughout the home, and large windows provide natural light and city views. Apartment 1 is currently producing $1400 a month. The vacant second-floor unit includes high ceilings, a living area, a formal dining room, storage, and access to a rear patio and former koi pond. Additional features include hardwood floors, updated windows, a six-year-old roof, and forced air heating. The property has separate utilities, a full basement, and off-street parking for multiple vehicles with expansion potential. The adjoining vacant lot at 41 Fargo is fully fenced and features mature trees and greenery. The property offers opportunities for outdoor activities, gardening, or relaxation. The property blends comfort, charm, and versatility in an urban location.
Financial Insights
Value Estimation Calculated for Multifamily LT 5
Conservative
$435.7K
NOI $39,214 @ 9.00% cap · cautious / downside scenario
Moderate
$560.2K
NOI $39,214 @ 7.00% cap · market / base-case scenario
Aggressive
$784.3K
NOI $39,214 @ 5.00% cap · optimistic / upside scenario
NOI & Cap Rate Calculator
NOI Build-Up
- 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.
Calculated for Multifamily LT 5
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $59.3k | $15.00 |
| − Vacancy | −$3.3k | −$0.83 |
| EGI | $56.0k | $14.17 |
| − OpEx | −$16.8k | −$4.25 |
| NOI | $39.2k | $9.92 |
3,952 SF · lease $15.00/SF/yr · vacancy 5.50% · expense 30.00%
Alternative Use Scenarios
Best Use
Multifamily LT 5
$560.2K
$490.2K – $653.6K
NOI $39,214 @ 7.0% cap · market cap 8.17%
Second Best
Apartment 5plus
$516.0K
$451.5K – $602.0K
NOI $36,119 @ 7.0% cap · market cap 7.53%
Theoretical Best
Office A
$950.4K
$831.6K – $1.11M
NOI $66,526 @ 7.0% cap · market cap 13.86%
Zoning and permitted uses should be independently verified with local authorities.
Property Profile
Location Intelligence
Current Use by Public Records
Duplexes
Location Insight
- Map
- Local Demand
- City
- Buffalo
- County
- Erie
- State
- New York
- Longitude
- -78.886079
- Latitude
- 42.89907
Nearby Similar for Sale
FAQs
What type of property is this?
Duplex - Two-family home with spacious layout, original details, and large lot.
Where is this duplex located?
The property is located at 47 Fargo Avenue Buffalo, NY.
What is the asking price?
The asking price for this property is $479,900.
What are key features of this property?
This property features: Expansive double lot (over one‑third of an acre) in the Fargo Estate Historic District provides rare space and privacy.; Two‑family home with income‑producing apartment (Apartment 1 currently producing $1400/month).; Spacious 3/3 layout including a two‑story owner's suite with multiple balconies and generous room sizes.
