New-Construction
For Sale
$549,900
1021 Lafayette Avenue, Buffalo, NY 14209
Two distinct residences provide private utilities, laundry, covered porches, and rear off-street parking.
Property Size2,076 SF
Days on Market58
Property Features for 1021 Lafayette Avenue
General Information
Standard status
Active
Size
2,076 SF
Property subtype
Multi Family
Site & Location
Neighborhood
Masten Park
Road Access
Yes
Utilities to Site
Yes
Units
Unit Mix
1 x 2BR/1.5BA, 1 x 1BR/1BA
Multifamily Units
2
Taxes and HOA fees
Annual Taxes
$4,286
Amenities
central air conditioning
gas forced-air heat
low-maintenance exterior
covered front porch
covered rear porch
in-unit washer/dryer
off-street parking
Building Details
Building Size
2,076 SF
Year Built
2023
Buildings
1
Listing Agency:
HUNT Real Estate ERA
Listed By:
William-Will Severyn · License #10401400381
(716) 912-0969
Source:
Highfallssir
Added: Sep 2
Changed: Oct 26
Last Checked: Oct 28 at 3:02PM
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
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Investment Insights
Based on property information with market context.
Completed in 2023, this duplex contains two separately arranged residences with independent living areas and utilities. The upper home includes 2 bedrooms, 1.5 baths, and a covered front porch. The lower home offers 1 bedroom, 1 full bath, and a covered rear porch. Both units have their own washer and dryer, central air conditioning, and gas forced-air heat. The exterior is designed for low-maintenance ownership, while parking is available off the street at the rear of the property.
Situated on Lafayette Avenue in Buffalo, the property provides access to shopping, dining, entertainment, and Downtown Buffalo. The two-unit configuration may accommodate an owner-occupant arrangement with rental income from the other residence or serve as a newer multifamily holding.
Situated on Lafayette Avenue in Buffalo, the property provides access to shopping, dining, entertainment, and Downtown Buffalo. The two-unit configuration may accommodate an owner-occupant arrangement with rental income from the other residence or serve as a newer multifamily holding.
Key Highlights
- Built in 2023
- Two separate units with dedicated living areas and utilities
- Upper unit: 2 bedrooms, 1.5 baths, and covered front porch
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$20,599
Cap Rate
3.75%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$411,980
$412.0K
Cap Rate 7%
$294,271
$294.3K
Cap Rate 9%
$228,878
$228.9K
Market Conditions
NOI Build-Up for 2,076 SF
Gross rent
$31.1K $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 Rate 5%
$411,980
Cap Rate 7%
$294,271
Cap Rate 9%
$228,878
Alternative Uses
Best Use
Multifamily LT 5
$294.3K
$257.5K – $343.3K
NOI $20,599 @ 7.0% cap · market cap 3.75%
Second Best
Apartment 5plus
$271.0K
$237.2K – $316.2K
NOI $18,973 @ 7.0% cap · market cap 3.45%
Theoretical Best
Office A
$499.2K
$436.8K – $582.5K
NOI $34,947 @ 7.0% cap · market cap 6.36%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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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
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in Northeast region
Frequently Asked Questions
What type of property is this?
Duplex - Two distinct residences provide private utilities, laundry, covered porches, and rear off-street parking.
Where is this duplex located?
The property is located at 1021 Lafayette Avenue 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: Built in 2023; Two separate units with dedicated living areas and utilities; Upper unit: 2 bedrooms, 1.5 baths, and covered front porch
