Renovated Two-Family
For Sale
$249,900
6 Palos Place, Buffalo, NY 14215
MULTI_FAMILY - Other - Buffalo, NY
Property Size1,216 SF
Lot Size0.11 Acres
Price / SF$205.51
Days on Market13
Property Features for 6 Palos Place
General Information
Property type
Residential Multi Family
Property subtype
Other
Bedrooms
6
Bathrooms
3
Full bathrooms
3
Rooms
Bedroom 2, Bathroom 1, Bedroom 3, Bathroom 3, Bedroom 1, Bedroom 4, Bathroom 2, Bedroom 5, Bedroom 6
Parking features
Garage
Appliances
GasWaterHeater
Subdivision
Holland Land Company's Su
Lot features
Near Public Transit, Rectangular, Rectangular Lot, Residential Lot
Elementary school district
Buffalo
Middle school district
Buffalo
High school district
Buffalo
Standard status
Active
APN
140200-090-460-0006-014-000
Size
1,216 SF
Lot size
0.11 Acres
Taxes and HOA fees
Tax Annual Amount
992
Utilities
Heating system
Natural Gas, Forced Air
Water source
Public
Building Details
Year built
1950
Floors in Building
2
Number of units
2
Flooring type
Tile, Varies, Hardwood, Vinyl
Building materials
Cedar, Frame, Stucco
Roof type
Asphalt
Architectural style
Other
Listing Agency:
WNY Metro Roberts Realty
(716) 891-1710
Listed By:
Mohammed S Uddin · License #10401370001
(917) 500-9227
Added: Jul 28
Changed: Aug 1
Last Checked: Aug 9 at 3:06PM
MLS# B1702314
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.
6 Palos Pl. is a move-in ready, renovated two-family duplex built in 1950. The home totals 1,216 square feet on a 0.1061-acre lot and features gas forced-air heating with a gas water heater. Construction materials include cedar (frame and stucco) and the roof is asphalt.
Recent updates include new vinyl flooring throughout, fully renovated bathrooms in both units, and additional improvements. The upper unit offers four bedrooms, a large kitchen with a dining area, a bright living room, and two full bathrooms. The lower unit features two bedrooms, a spacious living room with a dining area, a well-appointed kitchen, and one full bathroom. Major systems improvements include new furnaces and hot water tanks for both units, supporting separate comfort for each level.
The property also includes public water service and garage parking. It is conveniently located near shopping, restaurants, schools, and public transportation.
Recent updates include new vinyl flooring throughout, fully renovated bathrooms in both units, and additional improvements. The upper unit offers four bedrooms, a large kitchen with a dining area, a bright living room, and two full bathrooms. The lower unit features two bedrooms, a spacious living room with a dining area, a well-appointed kitchen, and one full bathroom. Major systems improvements include new furnaces and hot water tanks for both units, supporting separate comfort for each level.
The property also includes public water service and garage parking. It is conveniently located near shopping, restaurants, schools, and public transportation.
Key Highlights
- 0.1061‑acre lot with a 1,216 SF two‑family duplex built in 1950
- New vinyl flooring throughout plus fully renovated bathrooms in both units
- New furnaces and hot water tanks for both 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
$12,066
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
4.83%
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%
$241,320
$241.3K
Cap Rate 7%
$172,371
$172.4K
Cap Rate 9%
$134,067
$134.1K
Market Conditions
NOI Build-Up for 1,216 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
$18.2K $15.00/SF
− Vacancy
−$1.0K −$0.83/SF
EGI
$17.2K $14.17/SF
− OpEx
−$5.2K −$4.25/SF
NOI
$12.1K $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%
$241,320
Cap Rate 7%
$172,371
Cap Rate 9%
$134,067
Alternative Uses
Best Use
Multifamily LT 5
$172.4K
$150.8K – $201.1K
NOI $12,066 @ 7.0% cap · market cap 4.83%
Second Best
Apartment 5plus
$158.8K
$138.9K – $185.2K
NOI $11,113 @ 7.0% cap · market cap 4.45%
Theoretical Best
Office A
$292.4K
$255.9K – $341.2K
NOI $20,470 @ 7.0% cap · market cap 8.19%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
986
Businesses Nearby
Explore this area
Business Placement
Demographics for 14215, NY
42,447
Population
19,203
Households
2.2
Avg Household Size
33
Median Age
19%
College-Educated
87%
High-School Grad
4.8 sq mi
ZIP Area
8,843
Density / Sq Mi
$43,326
Median Household Income
$29,204
Median Earnings
$993
Median Rent
$102,800
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 - Renovated two-family duplex with six bedrooms total, garage parking, and natural gas forced-air heat.
Where is this duplex located?
The property is located at 6 Palos Place Buffalo, NY.
What is the asking price?
The asking price for this property is $249,900.
What are key features of this property?
This property features: 0.1061‑acre lot with a 1,216 SF two‑family duplex built in 1950; New vinyl flooring throughout plus fully renovated bathrooms in both units; New furnaces and hot water tanks for both units
