Renovated Duplex with Two-Car
For Sale
$429,900
113 Argyle Avenue, Buffalo, NY 14226
Residential, Buffalo, NY
Property Size2,288 SF
Lot Size0.19 Acres
Price / SF$187.89
Days on Market18
Property Features for 113 Argyle Avenue
General Information
Property type
Residential Multi Family
Property subtype
Other
Bedrooms
6
Bathrooms
2
Full bathrooms
2
Rooms
Bedroom 3, Bedroom 4, Bathroom 1, Basement, Bathroom 2, Bedroom 1, Bedroom 5, Bedroom 6, Bedroom 2
Parking features
Garage, Open
Patio and Porch features
Porch
Interior features
CeilingFans, NaturalWoodwork
Exterior features
Fence
Fencing
Fenced
Appliances
GasWaterHeater
Lot features
Rectangular, Rectangular Lot, Residential Lot
Elementary school district
Amherst
Middle school district
Amherst
High school district
Amherst
Subdivision
Amherst-142289
Standard status
Active
APN
142289-079-120-0006-022-000
Size
2,288 SF
Lot size
0.19 Acres
Taxes and HOA fees
Tax Annual Amount
6769
Utilities
Heating system
Forced Air, Natural Gas
Cooling system
Central Air
Water source
Public
Amenities
central air conditioning
washer/dryer
Building Details
Year built
1953
Floors in Building
2
Number of units
2
Flooring type
Varies, Tile, Vinyl, Hardwood
Building materials
AluminumSiding, Brick, CopperPlumbing
Roof type
Asphalt
Listing Agency:
WNY Metro Roberts Realty
(716) 559-9972
Listed By:
Marialisa Giglia-Remington · License #10301202847
(716) 390-3133
Added: Aug 3
Changed: Aug 19
Last Checked: Aug 20 at 3:06AM
MLS# B1703354
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 two-unit residential property contains 2,288 square feet, with approximately 1,144 sq. ft. in each apartment. Both units have updated kitchens with quartz countertops, stainless-steel appliances, luxury vinyl plank flooring, remodeled bathrooms with ceramic tile, original hardwood flooring, central air conditioning, refreshed lighting, and new paint. Each apartment has its own washer and dryer in the basement.
The property also includes a detached two-car garage with aluminum siding and an asphalt roof, along with a fenced exterior and porch. Additional building features include forced-air natural gas heat, public water, copper plumbing, and a battery-backed sump pump system. Built in 1953, the duplex occupies 0.1919 acres in Buffalo, NY 14226.
The property also includes a detached two-car garage with aluminum siding and an asphalt roof, along with a fenced exterior and porch. Additional building features include forced-air natural gas heat, public water, copper plumbing, and a battery-backed sump pump system. Built in 1953, the duplex occupies 0.1919 acres in Buffalo, NY 14226.
Key Highlights
- 2,288‑square‑foot duplex with approximately 1,144 sq. ft. in each apartment
- Two apartments with renovated kitchens, bathrooms, flooring, lighting, and paint
- Quartz countertops and new stainless‑steel appliances in both kitchens
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
$22,703
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
5.28%
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%
$454,060
$454.1K
Cap Rate 7%
$324,329
$324.3K
Cap Rate 9%
$252,256
$252.3K
Market Conditions
NOI Build-Up for 2,288 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
$34.3K $15.00/SF
− Vacancy
−$1.9K −$0.83/SF
EGI
$32.4K $14.17/SF
− OpEx
−$9.7K −$4.25/SF
NOI
$22.7K $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%
$454,060
Cap Rate 7%
$324,329
Cap Rate 9%
$252,256
Alternative Uses
Best Use
Multifamily LT 5
$324.3K
$283.8K – $378.4K
NOI $22,703 @ 7.0% cap · market cap 5.28%
Second Best
Apartment 5plus
$298.7K
$261.4K – $348.5K
NOI $20,911 @ 7.0% cap · market cap 4.86%
Theoretical Best
Office A
$550.2K
$481.4K – $641.9K
NOI $38,515 @ 7.0% cap · market cap 8.96%
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
179
Businesses Nearby
Explore this area
Business Placement
Demographics for 14226, NY
29,861
Population
13,282
Households
2.2
Avg Household Size
38
Median Age
57%
College-Educated
95%
High-School Grad
6.9 sq mi
ZIP Area
4,328
Density / Sq Mi
$83,023
Median Household Income
$48,994
Median Earnings
$1,093
Median Rent
$237,500
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 - Updated two-unit property with separate laundry, central air, modern kitchens, and a detached garage.
Where is this duplex located?
The property is located at 113 Argyle Avenue Buffalo, NY.
What is the asking price?
The asking price for this property is $429,900.
What are key features of this property?
This property features: 2,288‑square‑foot duplex with approximately 1,144 sq. ft. in each apartment; Two apartments with renovated kitchens, bathrooms, flooring, lighting, and paint; Quartz countertops and new stainless‑steel appliances in both kitchens
