Renovated Duplex with Garage
For Sale
$229,500
114 Lombard St, Buffalo, NY 14212
Front and rear units include separate laundry areas, updated systems, and a covered porch.
Property Size1,809 SF
Price / SF$126.87
Days on Market71
Property Features for 114 Lombard St
General Information
Standard status
Active
Size
1,809 SF
Property subtype
Multi-Family
Additional Details
Multifamily Units
2
Amenities
laundry area
covered porch
Building Details
Year Built
1900
Listing Agency:
WNY Metro Roberts Realty
Listed By:
Ruth Ann Gardner · License #30GA0653668
(716) 870-4915
Source:
Skinnercnyrealty
Added: Aug 7
Changed: Oct 2
Last Checked: Oct 7 at 12:54PM
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 WNY Metro Roberts Realty
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Investment Insights
Based on property information with market context.
Located at 114 Lombard St in Buffalo, this duplex contains 7 bedrooms and 3 bathrooms across front and rear units. The property has undergone extensive renovation, including new furnaces, hot water tanks, windows, doors, siding, electrical components, and lighting. A complete tear-off roof was completed within the past month, and each unit includes a dedicated laundry area. The home was built in 1900 and also features a covered front porch.
The property includes three parcels combined on one survey, creating a large lot with a 16 x 30 cement pad and footer for a potential garage. The rear unit is vacant, while the front unit is occupied by a tenant. An owner may use the existing two-unit layout for residential occupancy or rental operations.
The property includes three parcels combined on one survey, creating a large lot with a 16 x 30 cement pad and footer for a potential garage. The rear unit is vacant, while the front unit is occupied by a tenant. An owner may use the existing two-unit layout for residential occupancy or rental operations.
Key Highlights
- 7‑bedroom, 3‑bathroom duplex with front and rear units
- Renovations include furnaces, hot water tanks, windows, doors, siding, electrical, and lighting
- Complete tear‑off roof completed within the past month
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$17,950
Cap Rate
7.82%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$359,000
$359.0K
Cap Rate 7%
$256,429
$256.4K
Cap Rate 9%
$199,444
$199.4K
Market Conditions
NOI Build-Up for 1,809 SF
Gross rent
$27.1K $15.00/SF
− Vacancy
−$1.5K −$0.83/SF
EGI
$25.6K $14.17/SF
− OpEx
−$7.7K −$4.25/SF
NOI
$17.9K $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 Rate 5%
$359,000
Cap Rate 7%
$256,429
Cap Rate 9%
$199,444
Alternative Uses
Best Use
Multifamily LT 5
$256.4K
$224.4K – $299.2K
NOI $17,950 @ 7.0% cap · market cap 7.82%
Second Best
Apartment 5plus
$236.2K
$206.7K – $275.6K
NOI $16,533 @ 7.0% cap · market cap 7.20%
Theoretical Best
Office A
$435.0K
$380.7K – $507.5K
NOI $30,452 @ 7.0% cap · market cap 13.27%
Zoning and permitted uses should be independently verified with authorities.
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Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
626
Businesses Nearby
Explore this area
Business Placement
Demographics for 14212, NY
13,533
Population
5,935
Households
2.3
Avg Household Size
32
Median Age
11%
College-Educated
76%
High-School Grad
2.1 sq mi
ZIP Area
6,444
Density / Sq Mi
$35,517
Median Household Income
$26,545
Median Earnings
$829
Median Rent
$89,900
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in Northeast region
Frequently Asked Questions
What type of property is this?
Duplex - Front and rear units include separate laundry areas, updated systems, and a covered porch.
Where is this duplex located?
The property is located at 114 Lombard St Buffalo, NY.
What is the asking price?
The asking price for this property is $229,500.
What are key features of this property?
This property features: 7‑bedroom, 3‑bathroom duplex with front and rear units; Renovations include furnaces, hot water tanks, windows, doors, siding, electrical, and lighting; Complete tear‑off roof completed within the past month
