Renovated Duplex with
For Sale
$449,900
1161 Hertel Avenue, Buffalo, NY 14216
Residential, Buffalo, NY
Property Size3,144 SF
Lot Size0.13 Acres
Price / SF$143.10
Days on Market11
Property Features for 1161 Hertel Avenue
General Information
Property type
Residential Multi Family
Property subtype
Other
Bedrooms
4
Bathrooms
3
Full bathrooms
3
Rooms
Bedroom 4, Bedroom 2, Bathroom 2, Bathroom 3, Bedroom 3, Basement, Bathroom 1, Bedroom 1
Interior features
CeilingFans
Fireplace
1
Appliances
GasWaterHeater
Lot features
Rectangular, Rectangular Lot
Elementary school district
Buffalo
Middle school district
Buffalo
High school district
Buffalo
Subdivision
Buffalo City-140200
Standard status
Active
APN
140200-078-710-0001-013-000
Size
3,144 SF
Lot size
0.13 Acres
Taxes and HOA fees
Tax Annual Amount
3776
Utilities
Heating system
Forced Air, Natural Gas
Cooling system
Central Air
Water source
Public
Amenities
closed-in porch
balcony
air conditioning
laundry hookups
Building Details
Year built
1917
Floors in Building
2
Number of units
2
Flooring type
Hardwood, Varies, Tile
Building materials
VinylSiding, CopperPlumbing
Listing Agency:
Keller Williams Realty WNY
(716) 832-3300
Listed By:
Joe Sorrentino Jr · License #40SO1107100
(716) 207-2994
Added: Sep 21
Changed: Oct 1
Last Checked: Oct 1 at 10:06PM
MLS# B1716687
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 1917 duplex contains 3,144 square feet across two residential units on a 0.1306-acre lot. The interior has been comprehensively rebuilt with updated electrical service, copper plumbing, PVC drains, insulation, drywall, custom cabinetry, and 3/4-inch hardwood flooring. Both units feature central air, while the home is heated by forced air with natural gas. A 240-square-foot family room addition includes a full bathroom, kitchenette, and separate entrance, creating flexible space for a studio, in-law arrangement, or home office. The first-floor unit also includes an enclosed porch, large bedroom, walk-in closet, dining area, pantry, and custom millwork. The upper unit offers three bedrooms, a balcony, kitchen laundry hookups, and hardwood floors.
Exterior improvements include replacement windows, vinyl siding, an approximately eight-year-old tear-off roof, a new sewer line to the street, and a three-car garage. The property is served by public water and includes a basement, gas water heater, fireplace, and ceiling fans. Located at 1161 Hertel Avenue in Buffalo, NY 14216.
Exterior improvements include replacement windows, vinyl siding, an approximately eight-year-old tear-off roof, a new sewer line to the street, and a three-car garage. The property is served by public water and includes a basement, gas water heater, fireplace, and ceiling fans. Located at 1161 Hertel Avenue in Buffalo, NY 14216.
Key Highlights
- 3,144‑square‑foot duplex on a 0.1306‑acre lot
- 240‑square‑foot family room addition with full bath, kitchenette, and separate entrance
- Three‑car garage, replacement windows, vinyl siding, and approximately eight‑year‑old tear‑off roof
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
$31,196
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
6.93%
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%
$623,920
$623.9K
Cap Rate 7%
$445,657
$445.7K
Cap Rate 9%
$346,622
$346.6K
Market Conditions
NOI Build-Up for 3,144 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
$47.2K $15.00/SF
− Vacancy
−$2.6K −$0.83/SF
EGI
$44.6K $14.17/SF
− OpEx
−$13.4K −$4.25/SF
NOI
$31.2K $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%
$623,920
Cap Rate 7%
$445,657
Cap Rate 9%
$346,622
Alternative Uses
Best Use
Multifamily LT 5
$445.7K
$390.0K – $519.9K
NOI $31,196 @ 7.0% cap · market cap 6.93%
Second Best
Apartment 5plus
$410.5K
$359.2K – $478.9K
NOI $28,734 @ 7.0% cap · market cap 6.39%
Theoretical Best
Office A
$756.1K
$661.6K – $882.1K
NOI $52,925 @ 7.0% cap · market cap 11.76%
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
944
Businesses Nearby
Explore this area
Business Placement
Demographics for 14216, NY
22,979
Population
12,773
Households
1.8
Avg Household Size
37
Median Age
54%
College-Educated
94%
High-School Grad
2.8 sq mi
ZIP Area
8,207
Density / Sq Mi
$70,260
Median Household Income
$47,823
Median Earnings
$1,152
Median Rent
$260,700
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
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Frequently Asked Questions
What type of property is this?
Duplex - Two-unit property with extensively rebuilt interiors, separate entrances, central air, and flexible auxiliary living space.
Where is this duplex located?
The property is located at 1161 Hertel Avenue Buffalo, NY.
What is the asking price?
The asking price for this property is $449,900.
What are key features of this property?
This property features: 3,144‑square‑foot duplex on a 0.1306‑acre lot; 240‑square‑foot family room addition with full bath, kitchenette, and separate entrance; Three‑car garage, replacement windows, vinyl siding, and approximately eight‑year‑old tear‑off roof
