Duplex with Separate
New
For Sale
$549,900
1017 Lafayette Ave, Buffalo, NY 14209
Two separate residences include private laundry, covered porches, and dedicated living areas.
Property Size2,077 SF
Price / SF$264.76
Days on Market2
Property Features for 1017 Lafayette Ave
General Information
Standard status
Active
Size
2,077 SF
Property subtype
Multi-Family
Site & Location
Road Access
Yes
Utilities to Site
Yes
Units
Unit Mix
1 x 2BR/1.5BA, 1 x 1BR/1BA
Multifamily Units
2
Amenities
covered front porch
covered rear porch
in-unit washer/dryer
central air conditioning
gas forced-air heat
Building Details
Year Built
2023
Listing Agency:
HUNT Real Estate ERA
Listed By:
William-Will Severyn, William T Severyn
(716) 818-0207
Source:
Skinnercnyrealty
Added: Sep 5
Last Checked: Sep 6 at 11:00AM
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.
Constructed in 2023, this 2,077-square-foot duplex contains two independently arranged residences. The upper unit provides 2 bedrooms and 1.5 baths, while the lower unit includes 1 bedroom and 1 full bath. Each residence has its own washer and dryer, separate utilities, and dedicated living space. Covered porches serve both units, with the upper porch at the front and the lower porch at the rear.
The property includes central air conditioning, gas forced-air heat, a low-maintenance exterior, and off-street parking behind the building. Located on Lafayette Avenue in Buffalo, the duplex offers access to shopping, dining, entertainment, and Downtown Buffalo.
The property includes central air conditioning, gas forced-air heat, a low-maintenance exterior, and off-street parking behind the building. Located on Lafayette Avenue in Buffalo, the duplex offers access to shopping, dining, entertainment, and Downtown Buffalo.
Key Highlights
- 2,077‑square‑foot duplex built in 2023
- Upper unit includes 2 bedrooms, 1.5 baths, and a covered front porch
- Lower unit includes 1 bedroom, 1 full bath, and a covered rear porch
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
$20,609
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
3.75%
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%
$412,180
$412.2K
Cap Rate 7%
$294,414
$294.4K
Cap Rate 9%
$228,989
$229.0K
Market Conditions
NOI Build-Up for 2,077 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
$31.2K $15.00/SF
− Vacancy
−$1.7K −$0.83/SF
EGI
$29.4K $14.17/SF
− OpEx
−$8.8K −$4.25/SF
NOI
$20.6K $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%
$412,180
Cap Rate 7%
$294,414
Cap Rate 9%
$228,989
Alternative Uses
Best Use
Multifamily LT 5
$294.4K
$257.6K – $343.5K
NOI $20,609 @ 7.0% cap · market cap 3.75%
Second Best
Apartment 5plus
$271.2K
$237.3K – $316.4K
NOI $18,982 @ 7.0% cap · market cap 3.45%
Theoretical Best
Office A
$499.5K
$437.0K – $582.7K
NOI $34,963 @ 7.0% cap · market cap 6.36%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Yes
Paved road access
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
1,113
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 separate residences include private laundry, covered porches, and dedicated living areas.
Where is this duplex located?
The property is located at 1017 Lafayette Ave Buffalo, NY.
What is the asking price?
The asking price for this property is $549,900.
What are key features of this property?
This property features: 2,077‑square‑foot duplex built in 2023; Upper unit includes 2 bedrooms, 1.5 baths, and a covered front porch; Lower unit includes 1 bedroom, 1 full bath, and a covered rear porch
