Duplex With Carriage
For Sale
$799,000
1016 Lafayette Avenue, Buffalo, NY 14209
Two-story residential units include forced-air heating, central air, and access to a detached garage.
Property Size3,164 SF
Lot Size0.20 Acres
Price / SF$252.53
Days on Market12
Property Features for 1016 Lafayette Avenue
General Information
Standard status
Active
Size
3,164 SF
Lot size
0.20 Acres
Property subtype
Duplex
Additional Details
Multifamily Units
3
Taxes and HOA fees
Annual Taxes
$5,771
Building Details
Building Size
3,164 SF
Year Built
2021
Buildings
2
Listing Agency:
HUNT Real Estate ERA
(716) 912-0969
Listed By:
William-Will Severyn · License #10401400381
(716) 912-0969
Source:
Highfallssir
Added: Aug 20
Changed: Aug 30
Last Checked: Aug 30 at 3:31PM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of HUNT Real Estate ERA
Investment Insights
Based on property information with market context.
Built in 2021, this duplex property includes a front building with two residential units arranged across two stories. The improvements provide 3,164 square feet of living space on an 8,687-square-foot lot, with approximately 36.5 feet of frontage and 238 feet of depth.
A separate one-bedroom apartment is positioned above the detached garage and has its own entrance and utilities. Additional physical features include forced-air heating, central air conditioning, LP Smart siding, a private driveway, and garage parking. The property is located at 1016 Lafayette Avenue in Buffalo, New York.
A separate one-bedroom apartment is positioned above the detached garage and has its own entrance and utilities. Additional physical features include forced-air heating, central air conditioning, LP Smart siding, a private driveway, and garage parking. The property is located at 1016 Lafayette Avenue in Buffalo, New York.
Key Highlights
- Built in 2021 with 3,164 square feet of living space
- Front building contains two residential units across two stories
- Separate one‑bedroom apartment above the detached garage
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
$31,395
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
3.93%
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%
$627,900
$627.9K
Cap Rate 7%
$448,500
$448.5K
Cap Rate 9%
$348,833
$348.8K
Market Conditions
NOI Build-Up for 3,164 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
$47.5K $15.00/SF
− Vacancy
−$2.6K −$0.83/SF
EGI
$44.8K $14.17/SF
− OpEx
−$13.5K −$4.25/SF
NOI
$31.4K $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%
$627,900
Cap Rate 7%
$448,500
Cap Rate 9%
$348,833
Alternative Uses
Best Use
Multifamily LT 5
$448.5K
$392.4K – $523.3K
NOI $31,395 @ 7.0% cap · market cap 3.93%
Second Best
Apartment 5plus
$413.1K
$361.5K – $482.0K
NOI $28,917 @ 7.0% cap · market cap 3.62%
Theoretical Best
Office A
$760.9K
$665.8K – $887.7K
NOI $53,262 @ 7.0% cap · market cap 6.67%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
3
Residential units
Location Intelligence
Trade Area within ½ mile
953
Businesses Nearby
Explore this area
Business Placement
Demographics for 14209, NY
8,251
Population
4,729
Households
1.7
Avg Household Size
39
Median Age
46%
College-Educated
90%
High-School Grad
1.0 sq mi
ZIP Area
8,251
Density / Sq Mi
$49,359
Median Household Income
$33,329
Median Earnings
$1,025
Median Rent
$408,600
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 - Two-story residential units include forced-air heating, central air, and access to a detached garage.
Where is this duplex located?
The property is located at 1016 Lafayette Avenue Buffalo, NY.
What is the asking price?
The asking price for this property is $799,000.
What are key features of this property?
This property features: Built in 2021 with 3,164 square feet of living space; Front building contains two residential units across two stories; Separate one‑bedroom apartment above the detached garage
