Renovated Two-Unit
For Sale
$399,900
Pending
115 College Street, Buffalo, NY 14201
Well-maintained duplex with updated kitchens and bathrooms, separate utilities, and a fenced outdoor area near Arlington Park.
Property Size2,649 SF
Days on Market70
Property Features for 115 College Street
General Information
Standard status
Pending
Size
2,649 SF
Property subtype
Multi Family
Units
Unit Mix
1 x 2BR, 1 x 3BR
Multifamily Units
2
Additional Details
Public Transit
Yes
Taxes and HOA fees
Annual Taxes
$4,079
Amenities
in-unit laundry
covered porches
fully fenced backyard
Building Details
Building Size
2,649 SF
Year Built
1870
Listing Agency:
HUNT Real Estate ERA
Listed By:
Deacon Tasker · License #10401259325
(716) 208-7007
Source:
Highfallssir
Added: Aug 10
Changed: Oct 11
Last Checked: Oct 16 at 5:51PM
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 HUNT Real Estate ERA
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Investment Insights
Based on property information with market context.
Built in 1870, this two-unit duplex combines classic residential character with meaningful updates. The upper apartment includes two bedrooms and in-unit laundry, while the lower apartment provides three bedrooms. Both residences feature renovated kitchens and bathrooms, hardwood flooring, forced-air heating, separate utilities, attractive finishes, and ample natural light. Included appliances support a straightforward transition for a new owner.
The property also offers covered porches, curb appeal, and a fully fenced backyard suited to outdoor use. Its Buffalo setting places the home near Arlington Park, restaurants, coffee shops, nightlife, and public transportation. The configuration supports either an owner-occupied arrangement or an investment-oriented ownership strategy.
The property also offers covered porches, curb appeal, and a fully fenced backyard suited to outdoor use. Its Buffalo setting places the home near Arlington Park, restaurants, coffee shops, nightlife, and public transportation. The configuration supports either an owner-occupied arrangement or an investment-oriented ownership strategy.
Key Highlights
- Two‑unit duplex with upper two‑bedroom and lower three‑bedroom apartments
- Kitchens and bathrooms updated by the current owner
- Separate utilities, forced‑air heating, hardwood flooring, and included appliances
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$26,285
Cap Rate
6.57%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$525,700
$525.7K
Cap Rate 7%
$375,500
$375.5K
Cap Rate 9%
$292,056
$292.1K
Market Conditions
NOI Build-Up for 2,649 SF
Gross rent
$39.7K $15.00/SF
− Vacancy
−$2.2K −$0.83/SF
EGI
$37.5K $14.17/SF
− OpEx
−$11.3K −$4.25/SF
NOI
$26.3K $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%
$525,700
Cap Rate 7%
$375,500
Cap Rate 9%
$292,056
Alternative Uses
Best Use
Multifamily LT 5
$375.5K
$328.6K – $438.1K
NOI $26,285 @ 7.0% cap · market cap 6.57%
Second Best
Apartment 5plus
$345.9K
$302.6K – $403.5K
NOI $24,210 @ 7.0% cap · market cap 6.05%
Theoretical Best
Office A
$637.0K
$557.4K – $743.2K
NOI $44,592 @ 7.0% cap · market cap 11.15%
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
3,813
Businesses Nearby
Explore this area
Business Placement
Demographics for 14201, NY
12,364
Population
7,172
Households
1.7
Avg Household Size
33
Median Age
39%
College-Educated
84%
High-School Grad
1.1 sq mi
ZIP Area
11,240
Density / Sq Mi
$34,204
Median Household Income
$34,081
Median Earnings
$953
Median Rent
$327,900
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 - Well-maintained duplex with updated kitchens and bathrooms, separate utilities, and a fenced outdoor area near Arlington Park.
Where is this duplex located?
The property is located at 115 College Street 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‑unit duplex with upper two‑bedroom and lower three‑bedroom apartments; Kitchens and bathrooms updated by the current owner; Separate utilities, forced‑air heating, hardwood flooring, and included appliances
