Renovated Two-Unit
For Sale
$269,900
113 Donaldson Road, Buffalo, NY 14208
Residential, Buffalo, NY
Property Size2,676 SF
Lot Size0.08 Acres
Price / SF$100.86
Days on Market52
Property Features for 113 Donaldson Road
General Information
Property type
Residential Multi Family
Property subtype
Other
Bedrooms
6
Bathrooms
2
Full bathrooms
2
Rooms
Bedroom 2, Basement, Bedroom 1, Bedroom 3, Bathroom 2, Bathroom 1, Bedroom 5, Bedroom 6, Bedroom 4
Appliances
GasWaterHeater
Lot features
Near Public Transit, Rectangular, Rectangular Lot, Residential Lot
Elementary school district
Buffalo
Middle school district
Buffalo
High school district
Buffalo
Directions
Use GPS
Subdivision
Buffalo City-140200
Standard status
Active
APN
140200-100-270-0002-036-000
Size
2,676 SF
Lot size
0.08 Acres
Taxes and HOA fees
Tax Annual Amount
2935
Utilities
Heating system
Forced Air, Natural Gas
Water source
Public
Building Details
Year built
1890
Floors in Building
2
Number of units
2
Flooring type
Vinyl
Building materials
Brick, Frame
Roof type
Asphalt
Listing Agency:
Keller Williams Realty WNY
(716) 832-3300
Listed By:
Syed J Rizvi · License #10401279412
(716) 946-2700
Added: Jul 24
Changed: Sep 12
Last Checked: Sep 13 at 1:06AM
MLS# B1701540
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 2,676-square-foot duplex, built in 1890, contains two three-bedroom residences. The first-floor unit includes a bonus room, while both apartments have updated kitchens and full bathrooms. Vinyl flooring, brick and frame construction, and forced-air natural-gas heating add to the building’s core features.
Recent improvements include a new asphalt roof, updated electrical service with circuit breakers, new furnaces, new flooring, and renovated kitchen and bathroom finishes. The property also includes a full dry basement with a stone foundation and a full attic. Public water serves the building, and the 0.0844-acre parcel is located in Buffalo, New York.
Recent improvements include a new asphalt roof, updated electrical service with circuit breakers, new furnaces, new flooring, and renovated kitchen and bathroom finishes. The property also includes a full dry basement with a stone foundation and a full attic. Public water serves the building, and the 0.0844-acre parcel is located in Buffalo, New York.
Key Highlights
- Two‑unit duplex with 2,676 square feet
- Each residence includes 3 bedrooms
- Updated kitchens and full bathrooms in both units
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
$24,457
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
9.06%
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%
$489,140
$489.1K
Cap Rate 7%
$349,386
$349.4K
Cap Rate 9%
$271,744
$271.7K
Market Conditions
NOI Build-Up for 2,676 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
$46.6K $17.40/SF
− Vacancy
−$2.1K −$0.78/SF
EGI
$44.5K $16.62/SF
− OpEx
−$20.0K −$7.48/SF
NOI
$24.5K $9.14/SF
Area
Buffalo, NY
Vacancy
4.50%
Lease Rate
$17.40 /SF/Yr
Expense Ratio
45.00%
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%
$489,140
Cap Rate 7%
$349,386
Cap Rate 9%
$271,744
Alternative Uses
Best Use
Multifamily LT 5
$379.3K
$331.9K – $442.6K
NOI $26,553 @ 7.0% cap · market cap 9.84%
Second Best
Apartment 5plus
$349.4K
$305.7K – $407.6K
NOI $24,457 @ 7.0% cap · market cap 9.06%
Theoretical Best
Office A
$643.5K
$563.1K – $750.8K
NOI $45,047 @ 7.0% cap · market cap 16.69%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
688
Businesses Nearby
Explore this area
Business Placement
Demographics for 14208, NY
12,088
Population
5,884
Households
2.1
Avg Household Size
33
Median Age
23%
College-Educated
85%
High-School Grad
1.2 sq mi
ZIP Area
10,073
Density / Sq Mi
$46,940
Median Household Income
$23,804
Median Earnings
$932
Median Rent
$118,900
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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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 three-bedroom residences with updated kitchens, bathrooms, flooring, electrical systems, and furnaces.
Where is this duplex located?
The property is located at 113 Donaldson Road Buffalo, NY.
What is the asking price?
The asking price for this property is $269,900.
What are key features of this property?
This property features: Two‑unit duplex with 2,676 square feet; Each residence includes 3 bedrooms; Updated kitchens and full bathrooms in both units
