Duplex with Two-Car
New
For Sale
$219,900
106 Grandview Avenue, Buffalo, NY 14223
Residential, Buffalo, NY
Property Size1,820 SF
Lot Size0.11 Acres
Price / SF$120.82
Days on Market2
Property Features for 106 Grandview Avenue
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Bedrooms
4
Bathrooms
2
Full bathrooms
2
Rooms
Bathroom 1, Basement, Bedroom 1, Bedroom 4, Bedroom 3, Bedroom 2, Bathroom 2
Parking features
Garage
Patio and Porch features
Porch
Interior features
NaturalWoodwork, ProgrammableThermostat
Exterior features
EnclosedPorch, Fence, Porch
Fencing
Fenced
Appliances
GasWaterHeater
Lot features
Near Public Transit, Rectangular, Rectangular Lot, Residential Lot
Elementary school district
Kenmore-Tonawanda Union Free District
Middle school district
Kenmore-Tonawanda Union Free District
High school district
Kenmore-Tonawanda Union Free District
Directions
Head north on Niagara Falls Blvd from Kenmore Avenue, turn left on Kenilworth Avenue, turn right on Grandview Avenue, the home will be on your left.
Subdivision
Tonawanda-Town-146489
Standard status
Active
APN
146489-079-230-0001-022-000
Size
1,820 SF
Lot size
0.11 Acres
Taxes and HOA fees
Tax Annual Amount
4881
Utilities
Heating system
Natural Gas, Baseboard
Water source
Public
Amenities
three season room
partially fenced backyard
laundry in basement
Building Details
Year built
1902
Floors in Building
1
Number of units
2
Flooring type
Hardwood, Varies, Carpet, Tile, Vinyl
Building materials
AluminumSiding, VinylSiding, CopperPlumbing, PexPlumbing
Roof type
Shingle
Architectural style
Other
Listing Agency:
Keller Williams Realty WNY
(716) 832-3300
Listed By:
Joshua James · License #10301210944
(716) 697-3280
Added: Aug 27
Last Checked: Aug 28 at 7:06PM
MLS# B1709487
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 1,820-square-foot duplex, built in 1902, offers distinct upper and lower residences with varied flooring, natural woodwork, and aluminum and vinyl siding. The lower unit includes three bedrooms, one full bathroom, a dining room, and a kitchen with wood cabinetry, granite counters, and a tile backsplash. The upper residence has one bedroom, one full bathroom, and an eat-in kitchen. A two-car garage with an upstairs loft adds storage, while the basement provides laundry space and separate electric meters serve the units.
Exterior features include an enclosed three-season entry, additional porch space, a partially fenced yard, and a shingle roof. Notable updates include a Rheem hot water tank installed in 2021, some windows and garage siding updated in 2016, and an architectural-shingle roof installed in 2015. The property is near Niagara Falls Boulevard, local shops, dining, and schools.
Exterior features include an enclosed three-season entry, additional porch space, a partially fenced yard, and a shingle roof. Notable updates include a Rheem hot water tank installed in 2021, some windows and garage siding updated in 2016, and an architectural-shingle roof installed in 2015. The property is near Niagara Falls Boulevard, local shops, dining, and schools.
Key Highlights
- 1,820‑square‑foot duplex on a 0.1101‑acre lot
- Lower unit includes 3 bedrooms and 1 full bathroom
- Upper unit offers 1 bedroom, 1 full bathroom, and an eat‑in kitchen
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
$18,059
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
8.21%
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%
$361,180
$361.2K
Cap Rate 7%
$257,986
$258.0K
Cap Rate 9%
$200,656
$200.7K
Market Conditions
NOI Build-Up for 1,820 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
$27.3K $15.00/SF
− Vacancy
−$1.5K −$0.83/SF
EGI
$25.8K $14.17/SF
− OpEx
−$7.7K −$4.25/SF
NOI
$18.1K $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%
$361,180
Cap Rate 7%
$257,986
Cap Rate 9%
$200,656
Alternative Uses
Best Use
Multifamily LT 5
$258.0K
$225.7K – $301.0K
NOI $18,059 @ 7.0% cap · market cap 8.21%
Second Best
Apartment 5plus
$237.6K
$207.9K – $277.2K
NOI $16,634 @ 7.0% cap · market cap 7.56%
Theoretical Best
Office A
$437.7K
$383.0K – $510.6K
NOI $30,637 @ 7.0% cap · market cap 13.93%
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
813
Businesses Nearby
Explore this area
Business Placement
Demographics for 14223, NY
22,658
Population
10,586
Households
2.1
Avg Household Size
41
Median Age
44%
College-Educated
97%
High-School Grad
3.5 sq mi
ZIP Area
6,474
Density / Sq Mi
$83,528
Median Household Income
$49,835
Median Earnings
$976
Median Rent
$202,200
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-unit property with separate electric meters, enclosed porch, basement laundry, and a partially fenced backyard.
Where is this duplex located?
The property is located at 106 Grandview Avenue Buffalo, NY.
What is the asking price?
The asking price for this property is $219,900.
What are key features of this property?
This property features: 1,820‑square‑foot duplex on a 0.1101‑acre lot; Lower unit includes 3 bedrooms and 1 full bathroom; Upper unit offers 1 bedroom, 1 full bathroom, and an eat‑in kitchen
