Spacious Updated North Buffalo
497 Hinman Avenue, Buffalo, NY 14216
- Added:
- May 1, 2026
- Days on Market:
- 26
- Last Refresh:
- May 26 at 6:06 am
Property Features for 497 Hinman Avenue
General Information
- Property type
- Residential Multi Family
- Property subtype
- Other
- Bedrooms
- 4
- Bathrooms
- 2
- Rooms
- Basement, Bedroom 4, Bathroom 2, Bedroom 2, Bathroom 1, Bedroom 3, Bedroom 1
- Patio and Porch features
- Porch
- Interior features
- CeilingFans, NaturalWoodwork, BedroomOnMainLevel
- Exterior features
- Awnings, Balcony, EnclosedPorch, Fence, Porch, PrivateYard
- Fencing
- Fenced
- Appliances
- GasWaterHeater
- Standard status
- Pending
- APN
- 140200-077-430-0004-005-000
- Size
- 1,600 SF
- Lot size
- 0.06 Acres
Taxes and HOA fees
- Tax Annual Amount
- 1802
Utilities
- Heating system
- Forced Air, Natural Gas
- Water source
- Public
Building Details
- Year built
- 1900
- Floors in Building
- 2
- Number of units
- 2
- Flooring type
- Carpet, Varies, Tile, Vinyl
- Building materials
- Brick, VinylSiding, CopperPlumbing
- Roof type
- Shingle
- Architectural style
- Other
Listing agent Joshua James License #10301210944 (716) 697-3280
Listing office Keller Williams Realty WNY 5500 Main St. Ste. 108, Williamsville, NY (716) 832-3300
Listing date May 1, 2026
MLS# B1677968
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
- Fantastic rental & cash flow potential, recently bringing in $2,350 per month.
- Meticulously kept, previously owner‑occupied double in a desirable, revitalized neighborhood.
- Updated mechanics and aesthetics, including roof, siding, windows, electric services (all in 2017), upper HWT (2022), and lower furnace (2020).
- Two beautifully updated kitchens and bathrooms with attractive finishes and durable materials.
- Inviting upper unit balcony and fully‑fenced yard with wood privacy fence.
- Convenient location near Hertel Avenue amenities, Sophia's, Ramsdell Park, and Downtown Buffalo.
Overview
This spacious, brick front and vinyl-clad duplex is located in the revitalized North Buffalo neighborhood, near Hertel Avenue and the Village of Kenmore. The property has rental and cash flow potential, previously bringing in $2,350 per month. The property features an abundance of natural light and an upper unit balcony. The duplex includes two updated kitchens with wood and white cabinetry, attractive counters, and tile flooring. The bathrooms have been remodeled with shower surrounds, newer vanities, and tile flooring. There is a deep driveway with parking, separate utilities and laundry hookups, and a wood privacy, fully-fenced yard. Updates include paint 2026, upper HWT 2022, lower Guardian furnace 2020, full tear-off arch shingle roof, vinyl siding, upper and lower vinyl windows and electric services ALL in 2017. The property is located steps from Sophia's and Ramsdell Park, close to Downtown Buffalo, local shops and entertainment. The property size is 1,600 square feet and the lot size is 0.062 acres. Showings begin Wednesday, 5/6/2026.
Financial Insights
Value Estimation Calculated for Multifamily LT 5
Conservative
$176.4K
NOI $15,876 @ 9.00% cap · cautious / downside scenario
Moderate
$226.8K
NOI $15,876 @ 7.00% cap · market / base-case scenario
Aggressive
$317.5K
NOI $15,876 @ 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 | $24.0k | $15.00 |
| − Vacancy | −$1.3k | −$0.83 |
| EGI | $22.7k | $14.17 |
| − OpEx | −$6.8k | −$4.25 |
| NOI | $15.9k | $9.92 |
1,600 SF · lease $15.00/SF/yr · vacancy 5.50% · expense 30.00%
Alternative Use Scenarios
Best Use
Multifamily LT 5
$226.8K
$198.5K – $264.6K
NOI $15,876 @ 7.0% cap · market cap 6.91%
Second Best
Apartment 5plus
$208.9K
$182.8K – $243.7K
NOI $14,623 @ 7.0% cap · market cap 6.36%
Theoretical Best
Office A
$384.8K
$336.7K – $448.9K
NOI $26,934 @ 7.0% cap · market cap 11.72%
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
- -78.888162
- Latitude
- 42.956736
Nearby Similar for Sale
FAQs
What type of property is this?
Duplex - Meticulously kept duplex with strong rental and cash flow potential.
Where is this duplex located?
The property is located at 497 Hinman Avenue Buffalo, NY.
What is the asking price?
The asking price for this property is $229,900.
What are key features of this property?
This property features: Fantastic rental & cash flow potential, recently bringing in $2,350 per month.; Meticulously kept, previously owner‑occupied double in a desirable, revitalized neighborhood.; Updated mechanics and aesthetics, including roof, siding, windows, electric services (all in 2017), upper HWT (2022), and lower furnace (2020).
