Updated Duplex with Original
For Sale
$399,900
110 Commonwealth Avenue, Buffalo, NY 14216
Two spacious apartments combine updated kitchens and baths with hardwood floors, formal dining rooms, and outdoor living spaces.
Property Size2,424 SF
Days on Market21
Property Features for 110 Commonwealth Avenue
General Information
Standard status
Active
Size
2,424 SF
Total Parking Spaces
2
Property subtype
Multi Family
Units
Unit Mix
2 x 3BR
Multifamily Units
2
Taxes and HOA fees
Annual Taxes
$4,427
Amenities
front porches
second-floor balcony
fully fenced backyard
attic
Building Details
Building Size
2,424 SF
Year Built
1920
Listing Agency:
WNYbyOwner.com
(716) 523-8508
Listed By:
Robyn Sansone · License #10491209960
(716) 523-8508
Source:
Highfallssir
Added: Aug 4
Changed: Aug 24
Last Checked: Aug 24 at 3:26PM
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 WNYbyOwner.com
Investment Insights
Based on property information with market context.
Built in 1920, this duplex includes two 3-bedroom apartments with generously proportioned layouts. Both units offer large kitchens, formal dining rooms, expansive living rooms, and three bedrooms, along with hardwood floors, original woodwork, and leaded glass windows. Remodeled kitchens include appliances, while the bathrooms, electrical system, and windows have also been updated. A newer tear-off roof and vinyl-sided exterior add to the property’s recent improvements.
Outdoor features include front porches on both levels, a second-floor balcony, and a fully fenced backyard. The property also has a two-car garage and stair access to a full walk-up attic. Located on Commonwealth Avenue in Buffalo’s North Buffalo area, the duplex is near shopping, restaurants, parks, and neighborhood amenities.
Outdoor features include front porches on both levels, a second-floor balcony, and a fully fenced backyard. The property also has a two-car garage and stair access to a full walk-up attic. Located on Commonwealth Avenue in Buffalo’s North Buffalo area, the duplex is near shopping, restaurants, parks, and neighborhood amenities.
Key Highlights
- Two 3‑bedroom apartments with large kitchens, formal dining rooms, living rooms, and three bedrooms each
- Updated kitchens with appliances, remodeled bathrooms, replacement windows, and updated electrical
- Hardwood floors, original woodwork, and leaded glass windows throughout
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
$24,052
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
6.01%
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%
$481,040
$481.0K
Cap Rate 7%
$343,600
$343.6K
Cap Rate 9%
$267,244
$267.2K
Market Conditions
NOI Build-Up for 2,424 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
$36.4K $15.00/SF
− Vacancy
−$2.0K −$0.83/SF
EGI
$34.4K $14.17/SF
− OpEx
−$10.3K −$4.25/SF
NOI
$24.1K $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%
$481,040
Cap Rate 7%
$343,600
Cap Rate 9%
$267,244
Alternative Uses
Best Use
Multifamily LT 5
$343.6K
$300.7K – $400.9K
NOI $24,052 @ 7.0% cap · market cap 6.01%
Second Best
Apartment 5plus
$316.5K
$276.9K – $369.2K
NOI $22,154 @ 7.0% cap · market cap 5.54%
Theoretical Best
Office A
$582.9K
$510.1K – $680.1K
NOI $40,805 @ 7.0% cap · market cap 10.20%
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
1,033
Businesses Nearby
Explore this area
Business Placement
Demographics for 14216, NY
22,979
Population
12,773
Households
1.8
Avg Household Size
37
Median Age
54%
College-Educated
94%
High-School Grad
2.8 sq mi
ZIP Area
8,207
Density / Sq Mi
$70,260
Median Household Income
$47,823
Median Earnings
$1,152
Median Rent
$260,700
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 spacious apartments combine updated kitchens and baths with hardwood floors, formal dining rooms, and outdoor living spaces.
Where is this duplex located?
The property is located at 110 Commonwealth Avenue Buffalo, NY.
What is the asking price?
The asking price for this property is $399,900.
What are key features of this property?
This property features: Two 3‑bedroom apartments with large kitchens, formal dining rooms, living rooms, and three bedrooms each; Updated kitchens with appliances, remodeled bathrooms, replacement windows, and updated electrical; Hardwood floors, original woodwork, and leaded glass windows throughout
