Brick Duplex with Fenced
For Sale
$349,000
120 E Summerset Ln, Buffalo, NY 14228
Two three-bedroom units offer private entrances, basement space, off-street parking, and separate living and dining rooms.
Property Size2,562 SF
Price / SF$136.22
Days on Market16
Property Features for 120 E Summerset Ln
General Information
Standard status
Active
Size
2,562 SF
Property subtype
Multi-Family
Building Details
Year Built
1970
Listing Agency:
WNY Metro Roberts Realty
(716) 880-6723
Listed By:
Alan Miller · License #10401326370
Source:
Skinnercnyrealty
Added: Aug 15
Changed: Aug 29
Last Checked: Aug 29 at 8:01PM
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 brick duplex contains two separate residences, each with front and rear entrances, off-street parking, formal living and dining rooms, a half bath, and an upstairs full bath. Each unit includes three bedrooms and a kitchen with substantial storage. One residence has been updated with luxury vinyl flooring, new carpeting, refreshed trim, updated countertops, and new paint, while the second retains its own distinctive interior finishes.
A full basement extends the usable space and includes a washer and dryer. The property also features a fully fenced yard adjoining green space and a detached shed for storage. Household appliances are included. Built in 1970, the duplex is located within the Sweet Home School District and near the University at Buffalo, shopping, dining, and commuter routes.
A full basement extends the usable space and includes a washer and dryer. The property also features a fully fenced yard adjoining green space and a detached shed for storage. Household appliances are included. Built in 1970, the duplex is located within the Sweet Home School District and near the University at Buffalo, shopping, dining, and commuter routes.
Key Highlights
- Two‑unit brick duplex with 3 bedrooms and 1 full bath per unit
- Unit One updated with luxury vinyl flooring, new carpeting, countertops, trim, and paint
- Private front and rear entrances for both units
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
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 three-bedroom units offer private entrances, basement space, off-street parking, and separate living and dining rooms.
Where is this duplex located?
The property is located at 120 E Summerset Ln 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: Two‑unit brick duplex with 3 bedrooms and 1 full bath per unit; Unit One updated with luxury vinyl flooring, new carpeting, countertops, trim, and paint; Private front and rear entrances for both units
