Updated Two-Unit
For Sale
$259,999
Pending
103 Unger Avenue, Buffalo, NY 14210
Residential, Buffalo, NY
Property Size2,484 SF
Lot Size0.14 Acres
Days on Market99
Property Features for 103 Unger Avenue
General Information
Property type
Residential Multi Family
Property subtype
Other
Bedrooms
6
Bathrooms
2
Full bathrooms
2
Rooms
Basement, Bedroom 4, Bedroom 3, Bathroom 1, Bedroom 6, Bedroom 5, Bedroom 1, Bedroom 2, Bathroom 2
Patio and Porch features
Patio, Porch
Exterior features
Fence, Patio
Fencing
Fenced
Fireplace
1
Appliances
GasWaterHeater
Subdivision
Buffalo Crk Reservation
Lot features
Near Public Transit, Rectangular, Rectangular Lot, Residential Lot
Elementary school district
Buffalo
Middle school district
Buffalo
High school district
Buffalo
Standard status
Pending
APN
140200-123-640-0005-005-000
Size
2,484 SF
Lot size
0.14 Acres
Taxes and HOA fees
Tax Annual Amount
1491
Utilities
Heating system
Forced Air, Natural Gas
Water source
Public
Amenities
gas fireplaces
front porch
concrete patio
attic
Building Details
Year built
1905
Floors in Building
2
Number of units
2
Flooring type
Varies, Vinyl, Hardwood
Building materials
VinylSiding
Architectural style
Other
Listing Agency:
WNY Metro Roberts Realty
(716) 646-6400
Listed By:
Christopher Ricci · License #10401286662
(716) 880-7022
Added: May 18
Changed: Aug 19
Last Checked: Aug 24 at 9:06PM
MLS# B1682199
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 1905 duplex contains two residential units within 2,484 square feet on a 0.1405-acre lot. Interior improvements include updated kitchens and bathrooms, newer flooring, refreshed plumbing and electrical service, newer windows, and a recently installed concrete patio. Hardwood flooring remains in portions of the lower and upper levels, while the upstairs unit also includes luxury vinyl flooring and a butcher block countertop.
Both apartments offer generously sized living areas, and each has a gas fireplace. A substantial attic provides additional storage or adaptable unfinished space. Exterior features include a front porch, fenced yard, vinyl siding, and patio. The property is located on Unger Avenue in Buffalo’s South Buffalo area, within Erie County and ZIP Code 14210.
Both apartments offer generously sized living areas, and each has a gas fireplace. A substantial attic provides additional storage or adaptable unfinished space. Exterior features include a front porch, fenced yard, vinyl siding, and patio. The property is located on Unger Avenue in Buffalo’s South Buffalo area, within Erie County and ZIP Code 14210.
Key Highlights
- Two‑unit duplex with 2,484 square feet on a 0.1405‑acre lot
- 1905 construction with newer windows, updated plumbing, and newer electric service
- Updated kitchens and bathrooms across the two residential units
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
$22,702
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
8.73%
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%
$454,040
$454.0K
Cap Rate 7%
$324,314
$324.3K
Cap Rate 9%
$252,244
$252.2K
Market Conditions
NOI Build-Up for 2,484 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
$43.2K $17.40/SF
− Vacancy
−$1.9K −$0.78/SF
EGI
$41.3K $16.62/SF
− OpEx
−$18.6K −$7.48/SF
NOI
$22.7K $9.14/SF
Area
Buffalo, NY
Vacancy
4.50%
Lease Rate
$17.40 /SF/Yr
Expense Ratio
45.00%
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%
$454,040
Cap Rate 7%
$324,314
Cap Rate 9%
$252,244
Alternative Uses
Best Use
Multifamily LT 5
$352.1K
$308.1K – $410.8K
NOI $24,647 @ 7.0% cap · market cap 9.48%
Second Best
Apartment 5plus
$324.3K
$283.8K – $378.4K
NOI $22,702 @ 7.0% cap · market cap 8.73%
Theoretical Best
Office A
$597.4K
$522.7K – $696.9K
NOI $41,815 @ 7.0% cap · market cap 16.08%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
562
Businesses Nearby
Explore this area
Business Placement
Demographics for 14210, NY
15,480
Population
7,813
Households
2
Avg Household Size
36
Median Age
19%
College-Educated
85%
High-School Grad
3.1 sq mi
ZIP Area
4,994
Density / Sq Mi
$51,059
Median Household Income
$31,652
Median Earnings
$925
Median Rent
$124,300
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 residential units feature refreshed interiors, original hardwood details, and separate living areas.
Where is this duplex located?
The property is located at 103 Unger Avenue Buffalo, NY.
What is the asking price?
The asking price for this property is $259,999.
What are key features of this property?
This property features: Two‑unit duplex with 2,484 square feet on a 0.1405‑acre lot; 1905 construction with newer windows, updated plumbing, and newer electric service; Updated kitchens and bathrooms across the two residential units
