Two-Unit Duplex with
New
For Sale
$239,900
116 Grove Street, Buffalo, NY 14207
Separate apartment layouts include eat-in kitchens, laundry hookups, and central air conditioning.
Property Size2,112 SF
Price / SF$113.59
Days on Market6
Property Features for 116 Grove Street
General Information
Standard status
Active
Size
2,112 SF
Property subtype
Multi-Family
Additional Details
Multifamily Units
2
Amenities
hardwood floors
natural woodwork
central air
laundry hookups
garage
Building Details
Year Built
1922
Listing Agency:
WNY Metro Roberts Realty
Listed By:
Patricia Freling · License #FRELINGP
(716) 435-7163
Source:
716realtygroup
Added: Oct 9
Changed: Oct 12
Last Checked: Oct 12 at 5:20PM
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
Investment Insights
Based on property information with market context.
This 2,112-square-foot duplex contains two apartments with different bedroom arrangements. The lower unit has two bedrooms and a formal dining room; the upper unit has three bedrooms and a large living room. Both apartments include eat-in kitchens, hardwood floors, natural woodwork, and central air. Built-in linen storage, bookshelves, and coat storage add functional interior features.
The property also includes two laundry hookups, updated furnaces, hot water heaters, and an electrical panel with updated service cable. Outside, a two-car garage with electric service, newer doors, a concrete driveway, and off-street parking serve the property. Built in 1922, the duplex is located at 116 Grove Street in Buffalo, New York.
The property also includes two laundry hookups, updated furnaces, hot water heaters, and an electrical panel with updated service cable. Outside, a two-car garage with electric service, newer doors, a concrete driveway, and off-street parking serve the property. Built in 1922, the duplex is located at 116 Grove Street in Buffalo, New York.
Key Highlights
- Two apartments totaling 2,112 square feet
- Lower unit has 2 bedrooms and a formal dining room; upper unit has 3 bedrooms
- Two laundry hookups, updated furnaces, hot water heaters, and electrical panel service cable
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$20,956
Cap Rate
8.74%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$419,120
$419.1K
Cap Rate 7%
$299,371
$299.4K
Cap Rate 9%
$232,844
$232.8K
Market Conditions
NOI Build-Up for 2,112 SF
Gross rent
$31.7K $15.00/SF
− Vacancy
−$1.7K −$0.83/SF
EGI
$29.9K $14.17/SF
− OpEx
−$9.0K −$4.25/SF
NOI
$21.0K $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%
$419,120
Cap Rate 7%
$299,371
Cap Rate 9%
$232,844
Alternative Uses
Best Use
Multifamily LT 5
$299.4K
$262.0K – $349.3K
NOI $20,956 @ 7.0% cap · market cap 8.74%
Second Best
Apartment 5plus
$275.7K
$241.3K – $321.7K
NOI $19,302 @ 7.0% cap · market cap 8.05%
Theoretical Best
Office A
$507.9K
$444.4K – $592.6K
NOI $35,553 @ 7.0% cap · market cap 14.82%
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
1,024
Businesses Nearby
Explore this area
Business Placement
Demographics for 14207, NY
26,006
Population
11,317
Households
2.3
Avg Household Size
32
Median Age
19%
College-Educated
79%
High-School Grad
3.9 sq mi
ZIP Area
6,668
Density / Sq Mi
$38,951
Median Household Income
$33,851
Median Earnings
$943
Median Rent
$111,200
Median Home Value
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Market
Vacancy Rate% for Multifamily in Northeast region
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Frequently Asked Questions
What type of property is this?
Duplex - Separate apartment layouts include eat-in kitchens, laundry hookups, and central air conditioning.
Where is this duplex located?
The property is located at 116 Grove Street Buffalo, NY.
What is the asking price?
The asking price for this property is $239,900.
What are key features of this property?
This property features: Two apartments totaling 2,112 square feet; Lower unit has 2 bedrooms and a formal dining room; upper unit has 3 bedrooms; Two laundry hookups, updated furnaces, hot water heaters, and electrical panel service cable
