Brick Duplex with Full
New
For Sale
$349,000
120 E Summerset Lane, Buffalo, NY 14228
MULTI_FAMILY - Other - Buffalo, NY
Property Size2,562 SF
Lot Size0.19 Acres
Price / SF$136.22
Days on Market2
Property Features for 120 E Summerset Lane
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning description
Residential 2 Unit
Bedrooms
6
Bathrooms
4
Full bathrooms
2
Half bathrooms
2
Rooms
Bedroom 1, Bedroom 6, Bathroom 1, Bedroom 2, Bedroom 3, Bedroom 4, Bathroom 3, Basement, Bathroom 2, Bathroom 4, Bedroom 5
Exterior features
FullyFenced
Fencing
Fenced
Appliances
GasWaterHeater
Lot features
Near Public Transit, Rectangular, Rectangular Lot, Residential Lot
Elementary school district
Sweet Home
Middle school district
Sweet Home
High school district
Sweet Home
Directions
Niagara Falls Boulevard to Empire State Trail to East Summerset Lane
Subdivision
Amherst-142289
Standard status
Active
APN
142289-026-100-0003-022-000
Size
2,562 SF
Lot size
0.19 Acres
Taxes and HOA fees
Tax Annual Amount
6356
Utilities
Heating system
Natural Gas, Forced Air
Cooling system
Central Air
Water source
Public
Building Details
Year built
1970
Floors in Building
2
Number of units
2
Flooring type
Vinyl, Hardwood, Varies
Building materials
AtticCrawlHatchwaysInsulated, Brick, VinylSiding, CopperPlumbing, PexPlumbing
Roof type
Asphalt
Architectural style
Other
Listing Agency:
WNY Metro Roberts Realty
(716) 875-2211
Listed By:
Alan Miller · License #10401326370
(716) 880-6723
Added: Aug 11
Changed: Aug 12
Last Checked: Aug 12 at 2:06PM
MLS# B1705663
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 2,562-square-foot duplex, built in 1970, includes two separate residences with private front and rear entrances. Each unit has formal living and dining rooms, a half bath, a kitchen with substantial storage, three bedrooms, and a full bathroom. One residence features luxury vinyl flooring, updated countertops, new carpeting, fresh paint, and white trim. Full basements provide additional space and include a washer and dryer. Household appliances are included in the sale.
The 0.186-acre property includes a fully fenced yard, a freestanding shed, and generous off-street parking. The yard borders green space, adding separation behind the residence. Public water serves the property, with natural-gas forced-air heat and central air conditioning. The home is located near the University at Buffalo, shopping, dining, and major commuter routes in Buffalo’s 14228 area.
The 0.186-acre property includes a fully fenced yard, a freestanding shed, and generous off-street parking. The yard borders green space, adding separation behind the residence. Public water serves the property, with natural-gas forced-air heat and central air conditioning. The home is located near the University at Buffalo, shopping, dining, and major commuter routes in Buffalo’s 14228 area.
Key Highlights
- 2,562‑square‑foot duplex on a 0.186‑acre lot
- Two units with three bedrooms, formal living and dining rooms, and full basements
- Private front and rear entrances for each residence
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
$25,421
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
7.28%
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%
$508,420
$508.4K
Cap Rate 7%
$363,157
$363.2K
Cap Rate 9%
$282,456
$282.5K
Market Conditions
NOI Build-Up for 2,562 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
$38.4K $15.00/SF
− Vacancy
−$2.1K −$0.83/SF
EGI
$36.3K $14.17/SF
− OpEx
−$10.9K −$4.25/SF
NOI
$25.4K $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%
$508,420
Cap Rate 7%
$363,157
Cap Rate 9%
$282,456
Alternative Uses
Best Use
Multifamily LT 5
$363.2K
$317.8K – $423.7K
NOI $25,421 @ 7.0% cap · market cap 7.28%
Second Best
Apartment 5plus
$334.5K
$292.7K – $390.3K
NOI $23,415 @ 7.0% cap · market cap 6.71%
Theoretical Best
Office A
$616.1K
$539.1K – $718.8K
NOI $43,128 @ 7.0% cap · market cap 12.36%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
347
Businesses Nearby
Explore this area
Business Placement
Demographics for 14228, NY
23,945
Population
10,601
Households
2.3
Avg Household Size
32
Median Age
49%
College-Educated
92%
High-School Grad
15.9 sq mi
ZIP Area
1,506
Density / Sq Mi
$72,426
Median Household Income
$40,958
Median Earnings
$1,264
Median Rent
$246,100
Median Home Value
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 separate residences offer private entrances, updated interiors, basement storage, and off-street parking.
Where is this duplex located?
The property is located at 120 E Summerset Lane Buffalo, NY.
What is the asking price?
The asking price for this property is $349,000.
What are key features of this property?
This property features: 2,562‑square‑foot duplex on a 0.186‑acre lot; Two units with three bedrooms, formal living and dining rooms, and full basements; Private front and rear entrances for each residence
