Two-Unit Duplex with Unfinished
For Sale
$379,000
105 Wallace Avenue, Buffalo, NY 14214
Upper and lower apartments each offer three bedrooms, a private porch, and distinct heating systems.
Property Size2,547 SF
Days on Market22
Property Features for 105 Wallace Avenue
General Information
Standard status
Active
Size
2,547 SF
Property subtype
Duplex
Units
Unit Mix
2 x 3BR/1BA
Multifamily Units
2
Taxes and HOA fees
Annual Taxes
$2,524
Building Details
Building Size
2,547 SF
Year Built
1910
Buildings
1
Listing Agency:
Gurney Becker & Bourne
Listed By:
Louise O'Brien Adams · License #30AD0534077
(716) 603-7276
Source:
Highfallssir
Added: Sep 15
Changed: Oct 3
Last Checked: Oct 5 at 10:12PM
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 Gurney Becker & Bourne
Investment Insights
Based on property information with market context.
This 1910 duplex is arranged as upper and lower apartments, each with three bedrooms, one full bathroom, a living room, dining room, open kitchen, and private porch. Coffered dining room ceilings and original woodwork provide period detail. The lower unit uses baseboard heat; the upper has forced-air heat and central air conditioning. An unfinished attic spans the upper portion of the building and offers additional interior space for future planning.
Key Highlights
- Two apartments, each with 3 bedrooms and 1 full bath
- Upper and lower layout with a living room, dining room, open kitchen, and private porch in each unit
- Upper apartment has forced‑air heat and central air conditioning
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$25,273
Cap Rate
6.67%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$505,460
$505.5K
Cap Rate 7%
$361,043
$361.0K
Cap Rate 9%
$280,811
$280.8K
Market Conditions
NOI Build-Up for 2,547 SF
Gross rent
$38.2K $15.00/SF
− Vacancy
−$2.1K −$0.83/SF
EGI
$36.1K $14.17/SF
− OpEx
−$10.8K −$4.25/SF
NOI
$25.3K $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%
$505,460
Cap Rate 7%
$361,043
Cap Rate 9%
$280,811
Alternative Uses
Best Use
Multifamily LT 5
$361.0K
$315.9K – $421.2K
NOI $25,273 @ 7.0% cap · market cap 6.67%
Second Best
Apartment 5plus
$332.5K
$291.0K – $388.0K
NOI $23,278 @ 7.0% cap · market cap 6.14%
Theoretical Best
Office A
$612.5K
$535.9K – $714.6K
NOI $42,875 @ 7.0% cap · market cap 11.31%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
812
Businesses Nearby
Explore this area
Business Placement
Demographics for 14214, NY
20,732
Population
9,280
Households
2.2
Avg Household Size
32
Median Age
46%
College-Educated
90%
High-School Grad
3.3 sq mi
ZIP Area
6,282
Density / Sq Mi
$56,573
Median Household Income
$29,928
Median Earnings
$1,072
Median Rent
$234,600
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
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Frequently Asked Questions
What type of property is this?
Duplex - Upper and lower apartments each offer three bedrooms, a private porch, and distinct heating systems.
Where is this duplex located?
The property is located at 105 Wallace Avenue Buffalo, NY.
What is the asking price?
The asking price for this property is $379,000.
What are key features of this property?
This property features: Two apartments, each with 3 bedrooms and 1 full bath; Upper and lower layout with a living room, dining room, open kitchen, and private porch in each unit; Upper apartment has forced‑air heat and central air conditioning
