Duplex with Hardwood
For Sale
$289,900
72 Nicholson Street, Buffalo, NY 14214
Residential, Buffalo, NY
Property Size2,415 SF
Lot Size0.12 Acres
Price / SF$120.04
Days on Market27
Property Features for 72 Nicholson Street
General Information
Property type
Residential Multi Family
Property subtype
Other
Bedrooms
5
Bathrooms
2
Full bathrooms
2
Rooms
Basement, Bedroom 1, Bedroom 3, Bedroom 2, Bathroom 1, Bedroom 4, Bedroom 5, Bathroom 2
Interior features
NaturalWoodwork
Exterior features
FullyFenced, PrivateYard
Fencing
Fenced
Appliances
GasWaterHeater
Lot features
Cul De Sac, 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
140200-079-370-0004-011-000
Size
2,415 SF
Lot size
0.12 Acres
Taxes and HOA fees
Tax Annual Amount
3348
Utilities
Heating system
Natural Gas, Forced Air
Water source
Public
Building Details
Year built
1958
Floors in Building
2
Number of units
2
Flooring type
Hardwood, Varies, Carpet, Vinyl
Building materials
AluminumSiding, Brick
Architectural style
Other
Listing Agency:
WNYbyOwner.com
Listed By:
Robyn Sansone · License #10491209960
(716) 523-8508
Added: Aug 17
Changed: Sep 11
Last Checked: Sep 12 at 11:06AM
MLS# B1706103
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 2,415-square-foot duplex contains two residential units within a 1958-built home. The lower apartment has three bedrooms and one full bathroom, while the upper apartment includes two bedrooms, one bathroom, and a sizable bonus room. Both units feature eat-in kitchens and large living areas, with hardwood flooring across much of the interior. Fresh paint, included appliances, natural woodwork, and a full basement with an additional toilet add practical functionality. Heating is provided by forced air and natural gas, with public water service.
The property occupies 0.1205 acres on a dead-end street in Buffalo, near the University at Buffalo. Exterior features include a fully fenced private yard. Gas water heaters are less than three years old, and the layout supports separate residential occupancy within the same building.
The property occupies 0.1205 acres on a dead-end street in Buffalo, near the University at Buffalo. Exterior features include a fully fenced private yard. Gas water heaters are less than three years old, and the layout supports separate residential occupancy within the same building.
Key Highlights
- Two‑unit duplex with 3‑bedroom lower and 2‑bedroom upper apartment
- Upper unit includes a large bonus room for additional flexible space
- 2,415 square feet on a 0.1205‑acre lot
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
$23,963
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
8.27%
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%
$479,260
$479.3K
Cap Rate 7%
$342,329
$342.3K
Cap Rate 9%
$266,256
$266.3K
Market Conditions
NOI Build-Up for 2,415 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
$36.2K $15.00/SF
− Vacancy
−$2.0K −$0.83/SF
EGI
$34.2K $14.17/SF
− OpEx
−$10.3K −$4.25/SF
NOI
$24.0K $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%
$479,260
Cap Rate 7%
$342,329
Cap Rate 9%
$266,256
Alternative Uses
Best Use
Multifamily LT 5
$342.3K
$299.5K – $399.4K
NOI $23,963 @ 7.0% cap · market cap 8.27%
Second Best
Apartment 5plus
$315.3K
$275.9K – $367.9K
NOI $22,072 @ 7.0% cap · market cap 7.61%
Theoretical Best
Office A
$580.8K
$508.2K – $677.6K
NOI $40,653 @ 7.0% cap · market cap 14.02%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
704
Businesses Nearby
Explore this area
Business Placement
Demographics for 14214, NY
20,732
Population
9,280
Households
2.2
Avg Household Size
32
Median Age
46%
College-Educated
90%
High-School Grad
3.3 sq mi
ZIP Area
6,282
Density / Sq Mi
$56,573
Median Household Income
$29,928
Median Earnings
$1,072
Median Rent
$234,600
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 residential units offer eat-in kitchens, oversized living rooms, and shared basement storage.
Where is this duplex located?
The property is located at 72 Nicholson Street Buffalo, NY.
What is the asking price?
The asking price for this property is $289,900.
What are key features of this property?
This property features: Two‑unit duplex with 3‑bedroom lower and 2‑bedroom upper apartment; Upper unit includes a large bonus room for additional flexible space; 2,415 square feet on a 0.1205‑acre lot
