Two-Unit Residential Income
83 Lancaster Avenue Buffalo, NY 14222
New
For Sale
$474,900
MULTI_FAMILY - Other - Buffalo, NY
Property Size2,714 SF
Lot Size0.10 Acres
Price / SF$174.98
Days on Market2
Property Features for 83 Lancaster Avenue
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Bedrooms
6
Bathrooms
2
Rooms
Bedroom 3, Bedroom 2, Bedroom 4, Bedroom 5, Bathroom 2, Bedroom 6, Basement, Bathroom 1, Bedroom 1
Interior features
NaturalWoodwork
Exterior features
Fence, PrivateYard
Fencing
Fenced
Fireplace
1
Appliances
GasWaterHeater
Standard status
Active
APN
140200-100-220-0001-005-000
Size
2,714 SF
Lot size
0.10 Acres
Taxes and HOA fees
Tax Annual Amount
5586
Utilities
Heating system
Natural Gas, Hot Water(Heating)
Water source
Public
Building Details
Year built
1900
Floors in Building
2
Number of units
2
Flooring type
Hardwood, Vinyl, Tile, Varies
Building materials
WoodSiding, CopperPlumbing
Roof type
Shingle, Asphalt
Architectural style
Other
Listing Agency:
MJ Peterson Real Estate Inc.
(716) 819-4200
Listed By:
Susan D Lenahan · License #30LE1129135
(716) 864-6757
Added: Jul 28
Last Checked: Jul 29 at 10:06PM
MLS# B1702348
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 duplex residential income property features two apartments within a single double, with distinct living areas on the first and upper levels. The main floor includes a tiled common entry with stained-glass details, a spacious living room with decorative fireplace, formal dining room, an eat-in kitchen, three bedrooms, a full bath with vintage tile, and an enclosed porch that can function as a studio, office, or sunroom. The upper apartment has a private landing with additional storage, a bright living room with bay windows, a front sunroom with access to an upper porch, a formal dining room, a fully applianced kitchen with glass-front cabinetry, a hallway pantry, three bedrooms, and a full bath with a clawfoot tub and shower.
Outside, the property offers a private fully fenced backyard and a detached two-car garage. A front porch is also included, and the lot size is listed at 0.0979 acres.
The property is located at 83 Lancaster Avenue in Buffalo, NY 14222, in Erie County.
Outside, the property offers a private fully fenced backyard and a detached two-car garage. A front porch is also included, and the lot size is listed at 0.0979 acres.
The property is located at 83 Lancaster Avenue in Buffalo, NY 14222, in Erie County.
Key Highlights
- Classic double with both first- and upper‑level apartments
- 6 bedrooms across the property, including multiple bedrooms on each level
- Natural woodwork and hardwood flooring, plus tile and vinyl flooring throughout
Financial Insights For Multifamily LT 5
Simulate Cap Rate and NOI
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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $40.7k | $15.00 |
| − Vacancy | −$2.2k | −$0.83 |
| EGI | $38.5k | $14.17 |
| − OpEx | −$11.5k | −$4.25 |
| NOI | $26.9k | $9.92 |
2,714 SF · lease $15.00/SF/yr · vacancy 5.50% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$384.7K
$336.6K – $448.8K
NOI $26,930 @ 7.0% cap · market cap 5.67%
Second Best
Apartment 5plus
$354.3K
$310.1K – $413.4K
NOI $24,804 @ 7.0% cap · market cap 5.22%
Theoretical Best
Office A
$652.7K
$571.1K – $761.4K
NOI $45,686 @ 7.0% cap · market cap 9.62%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use
Frequently Asked Questions
What type of property is this?
Duplex - Two-apartment duplex with separate upper and main layouts, plus a fully fenced backyard and detached two-car garage.
Where is this duplex located?
The property is located at 83 Lancaster Avenue Buffalo, NY.
What is the asking price?
The asking price for this property is $474,900.
What are key features of this property?
This property features: Classic double with both first- and upper‑level apartments; 6 bedrooms across the property, including multiple bedrooms on each level; Natural woodwork and hardwood flooring, plus tile and vinyl flooring throughout
