Two-Unit
For Sale
$299,900
106 Jewett Avenue, Buffalo, NY 14214
Upper and lower apartments each offer three bedrooms and functional residential layouts.
Property Size2,362 SF
Days on Market32
Property Features for 106 Jewett Avenue
General Information
Standard status
Active
Size
2,362 SF
Property subtype
Multi Family Home
Site & Location
Road Access
Yes
Public Transit
Yes
Additional Details
Multifamily Units
2
Taxes and HOA fees
Annual Taxes
$3,554
Building Details
Building Size
2,362 SF
Year Built
1920
Stories
2
Units
2
Listing Agency:
Pioneer Star Real Estate Inc.
(716) 907-3046
Listed By:
Pushpa Gunatilake · License #10311200587
(716) 907-3046
Source:
Homeprocny
Added: Jul 14
Changed: Aug 10
Last Checked: Aug 13 at 2:00PM
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 Pioneer Star Real Estate Inc.
Investment Insights
Based on property information with market context.
This two-unit duplex, built in 1920, includes an upper apartment and a lower apartment, with three bedrooms in each residence. The layouts provide separate living spaces within a traditional multifamily configuration, and the property has been maintained with consistent care.
The home is located on Jewett Avenue in Buffalo, near shopping, restaurants, schools, parks, public transportation, and other everyday amenities. Major roadways provide access to surrounding neighborhoods and the broader area.
The home is located on Jewett Avenue in Buffalo, near shopping, restaurants, schools, parks, public transportation, and other everyday amenities. Major roadways provide access to surrounding neighborhoods and the broader area.
Key Highlights
- Two‑unit duplex with upper and lower apartments
- Three bedrooms in each apartment
- Built in 1920
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
$23,437
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
7.81%
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%
$468,740
$468.7K
Cap Rate 7%
$334,814
$334.8K
Cap Rate 9%
$260,411
$260.4K
Market Conditions
NOI Build-Up for 2,362 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
$35.4K $15.00/SF
− Vacancy
−$1.9K −$0.83/SF
EGI
$33.5K $14.17/SF
− OpEx
−$10.0K −$4.25/SF
NOI
$23.4K $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%
$468,740
Cap Rate 7%
$334,814
Cap Rate 9%
$260,411
Alternative Uses
Best Use
Multifamily LT 5
$334.8K
$293.0K – $390.6K
NOI $23,437 @ 7.0% cap · market cap 7.81%
Second Best
Apartment 5plus
$308.4K
$269.8K – $359.8K
NOI $21,587 @ 7.0% cap · market cap 7.20%
Theoretical Best
Office A
$568.0K
$497.0K – $662.7K
NOI $39,761 @ 7.0% cap · market cap 13.26%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
2
Residential units
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
1,465
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
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 - Upper and lower apartments each offer three bedrooms and functional residential layouts.
Where is this duplex located?
The property is located at 106 Jewett Avenue Buffalo, NY.
What is the asking price?
The asking price for this property is $299,900.
What are key features of this property?
This property features: Two‑unit duplex with upper and lower apartments; Three bedrooms in each apartment; Built in 1920
