Side-by-Side Duplex with
For Sale
$369,900
498 Linden Avenue, Buffalo, NY 14216
Residential, Buffalo, NY
Property Size1,856 SF
Price / SF$199.30
Days on Market28
Property Features for 498 Linden Avenue
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning description
Residential 2 Unit
Bedrooms
4
Bathrooms
2
Full bathrooms
2
Rooms
Basement, Bathroom 2, Bathroom 1, Bedroom 1, Bedroom 2, Bedroom 3, Bedroom 4
Parking features
Open, Garage
Patio and Porch features
Patio
Interior features
ProgrammableThermostat
Exterior features
Awnings, Fence, Patio
Fencing
Fenced
Appliances
GasWaterHeater
Subdivision
Holland Land Co
Lot features
Near Public Transit, Rectangular, Rectangular Lot, Residential Lot
Elementary school district
Buffalo
Middle school district
Buffalo
High school district
Buffalo
Directions
Delaware or Colvin to Linden Ave.
Standard status
Active
APN
140200-078-800-0001-025-000
Size
1,856 SF
Taxes and HOA fees
Tax Annual Amount
2841
Utilities
Heating system
Natural Gas, Forced Air
Water source
Public
Amenities
private basement
laundry hookups
private backyard
stainless steel appliances
Building Details
Year built
1945
Floors in Building
2
Number of units
2
Flooring type
Tile, Varies, Hardwood
Building materials
VinylSiding, CopperPlumbing, PexPlumbing
Roof type
Shingle, Asphalt
Architectural style
Other
Listing Agency:
Gurney Becker & Bourne
(716) 849-1234
Listed By:
Robert L Meredith · License #10311200417
(716) 603-0200
Added: Aug 11
Changed: Sep 1
Last Checked: Sep 7 at 2:06PM
MLS# B1703224
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 1,856-square-foot duplex contains two side-by-side residences, each with a modernized kitchen, stainless steel appliances, tile backsplash, and an updated bathroom with a tub and shower combination. Both units include a private basement with laundry hookups, glass block windows, newer furnaces installed in 2018, updated electrical panels, and newer hot water tanks from 2018. Hardwood and tile flooring are present, with finishes varying throughout the property.
The exterior includes vinyl siding, an asphalt shingle roof updated in 2018, a fenced backyard with patio, concrete driveway, and detached two-car garage with an electric door opener. Public water serves the property, and heating is provided by natural gas forced air. Built in 1945, the duplex is located at 498 Linden Avenue in Buffalo’s 14216 ZIP code, near Hertel’s restaurants and shops.
The exterior includes vinyl siding, an asphalt shingle roof updated in 2018, a fenced backyard with patio, concrete driveway, and detached two-car garage with an electric door opener. Public water serves the property, and heating is provided by natural gas forced air. Built in 1945, the duplex is located at 498 Linden Avenue in Buffalo’s 14216 ZIP code, near Hertel’s restaurants and shops.
Key Highlights
- 1,856‑square‑foot side‑by‑side duplex
- Two private basements with laundry hookups and glass block windows
- Detached two‑car garage with electric door opener
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
$18,416
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
4.98%
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%
$368,320
$368.3K
Cap Rate 7%
$263,086
$263.1K
Cap Rate 9%
$204,622
$204.6K
Market Conditions
NOI Build-Up for 1,856 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
$27.8K $15.00/SF
− Vacancy
−$1.5K −$0.83/SF
EGI
$26.3K $14.17/SF
− OpEx
−$7.9K −$4.25/SF
NOI
$18.4K $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%
$368,320
Cap Rate 7%
$263,086
Cap Rate 9%
$204,622
Alternative Uses
Best Use
Multifamily LT 5
$263.1K
$230.2K – $306.9K
NOI $18,416 @ 7.0% cap · market cap 4.98%
Second Best
Apartment 5plus
$242.3K
$212.0K – $282.7K
NOI $16,963 @ 7.0% cap · market cap 4.59%
Theoretical Best
Office A
$446.3K
$390.5K – $520.7K
NOI $31,243 @ 7.0% cap · market cap 8.45%
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
903
Businesses Nearby
Explore this area
Business Placement
Demographics for 14216, NY
22,979
Population
12,773
Households
1.8
Avg Household Size
37
Median Age
54%
College-Educated
94%
High-School Grad
2.8 sq mi
ZIP Area
8,207
Density / Sq Mi
$70,260
Median Household Income
$47,823
Median Earnings
$1,152
Median Rent
$260,700
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 - Updated two-unit property with private basements, modern kitchens, and separate laundry hookups.
Where is this duplex located?
The property is located at 498 Linden Avenue Buffalo, NY.
What is the asking price?
The asking price for this property is $369,900.
What are key features of this property?
This property features: 1,856‑square‑foot side‑by‑side duplex; Two private basements with laundry hookups and glass block windows; Detached two‑car garage with electric door opener
