3/3 Duplex with
For Sale
$399,900
110 Commonwealth Avenue, Buffalo, NY 14216
MULTI_FAMILY - Other - Buffalo, NY
Property Size2,424 SF
Lot Size0.09 Acres
Price / SF$164.98
Days on Market11
Property Features for 110 Commonwealth Avenue
General Information
Property type
Residential Multi Family
Property subtype
Other
Bedrooms
6
Bathrooms
2
Full bathrooms
2
Rooms
Bedroom 3, Basement, Bedroom 5, Bathroom 1, Bedroom 6, Bedroom 1, Bedroom 4, Bathroom 2, Bedroom 2
Patio and Porch features
Porch
Interior features
NaturalWoodwork
Exterior features
Balcony, Fence, PrivateYard
Fencing
Fenced
Appliances
GasWaterHeater
Lot features
Rectangular, Rectangular Lot, Residential Lot
Elementary school district
Buffalo
Middle school district
Buffalo
High school district
Buffalo
Subdivision
Buffalo City-140200
Standard status
Active
APN
140200-078-640-0002-021-000
Size
2,424 SF
Lot size
0.09 Acres
Taxes and HOA fees
Tax Annual Amount
4427
Utilities
Heating system
Forced Air, Natural Gas
Water source
Public
Amenities
front porches
balcony
fenced backyard
walk up attic
Building Details
Year built
1920
Floors in Building
2
Number of units
2
Flooring type
Tile, Hardwood, Varies
Building materials
VinylSiding
Architectural style
Other
Listing Agency:
WNYbyOwner.com
(716) 523-8508
Listed By:
Robyn Sansone · License #10491209960
(716) 523-8508
Added: Aug 4
Changed: Aug 8
Last Checked: Aug 14 at 11:06AM
MLS# B1704125
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 1920 duplex contains two three-bedroom apartments, each arranged with a large kitchen, formal dining room, expansive living room, and three bedrooms. Original woodwork, hardwood flooring, leaded glass windows, updated bathrooms, replacement windows, updated electrical, and a newer tear-off roof combine historic character with practical improvements. Both levels include porch space, with a balcony serving the upper apartment. Appliances are included in the remodeled kitchens, and the exterior is finished with vinyl siding.
The property occupies a 0.0924-acre lot in North Buffalo at 110 Commonwealth Avenue. Additional improvements include a solid two-car garage, fully fenced backyard, and stair access to a full walk-up attic. Public water serves the property, with forced-air natural gas heat. Shopping, restaurants, parks, and neighborhood amenities are located nearby.
The property occupies a 0.0924-acre lot in North Buffalo at 110 Commonwealth Avenue. Additional improvements include a solid two-car garage, fully fenced backyard, and stair access to a full walk-up attic. Public water serves the property, with forced-air natural gas heat. Shopping, restaurants, parks, and neighborhood amenities are located nearby.
Key Highlights
- Two three‑bedroom apartments with large kitchens, dining rooms, living rooms, and three bedrooms each
- 2,424 square feet on a 0.0924‑acre lot
- Two‑car garage, fenced backyard, front porches, and second‑floor balcony
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 feature remodeled kitchens, updated baths, and inviting porch areas.
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 three‑bedroom apartments with large kitchens, dining rooms, living rooms, and three bedrooms each; 2,424 square feet on a 0.0924‑acre lot; Two‑car garage, fenced backyard, front porches, and second‑floor balcony
