Two-Unit Duplex with Walk-Up
For Sale
$349,900
121 Tacoma Avenue, Buffalo, NY 14216
Two flexible units include separate utilities, laundry hookups, and outdoor porch and deck space.
Property Size2,736 SF
Days on Market86
Property Features for 121 Tacoma Avenue
General Information
Standard status
Active
Size
2,736 SF
Property subtype
Multi Family
Units
Unit Mix
2 x 3BR/1BA
Multifamily Units
2
Taxes and HOA fees
Annual Taxes
$2,679
Amenities
full walk-up attic
dry basement
separate laundry hookups
oversized rear deck
upper front and rear porches
fully fenced yard
Building Details
Building Size
2,736 SF
Year Built
1927
Listing Agency:
716 Realty Group WNY LLC
(716) 982-5388
Listed By:
Jeanmarie Muscarella · License #10401376088
(716) 982-5388
Source:
Highfallssir
Added: Jun 1
Changed: Aug 17
Last Checked: Aug 24 at 1:20PM
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 716 Realty Group WNY LLC
Investment Insights
Based on property information with market context.
Built in 1927, this duplex contains two apartments, each with 3 bedrooms, 1 full bathroom, and practical living areas. The lower unit is vacant, while the upper unit is occupied by a month-to-month tenant. Both furnaces and hot water tanks were updated in 2014, the roof was replaced in 2011, and the insulation has been fully replaced.
A full walk-up attic provides approximately 1,300 square feet of unfinished space. The dry basement includes separate laundry hookups, storage, electrical panels, and meters for each unit. Exterior features include an oversized rear deck, front and rear porches serving the upper apartment, and a fully fenced yard with vinyl fencing. The property is located near shopping, restaurants, parks, and everyday amenities in North Buffalo.
A full walk-up attic provides approximately 1,300 square feet of unfinished space. The dry basement includes separate laundry hookups, storage, electrical panels, and meters for each unit. Exterior features include an oversized rear deck, front and rear porches serving the upper apartment, and a fully fenced yard with vinyl fencing. The property is located near shopping, restaurants, parks, and everyday amenities in North Buffalo.
Key Highlights
- Two‑unit duplex with 3‑bedroom, 1‑bathroom apartments
- Lower unit vacant; upper unit occupied by a month‑to‑month tenant
- Approximately 1,300 square feet of unfinished walk‑up attic space
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
$27,148
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
7.76%
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%
$542,960
$543.0K
Cap Rate 7%
$387,829
$387.8K
Cap Rate 9%
$301,644
$301.6K
Market Conditions
NOI Build-Up for 2,736 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
$41.0K $15.00/SF
− Vacancy
−$2.3K −$0.83/SF
EGI
$38.8K $14.17/SF
− OpEx
−$11.6K −$4.25/SF
NOI
$27.1K $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%
$542,960
Cap Rate 7%
$387,829
Cap Rate 9%
$301,644
Alternative Uses
Best Use
Multifamily LT 5
$387.8K
$339.4K – $452.5K
NOI $27,148 @ 7.0% cap · market cap 7.76%
Second Best
Apartment 5plus
$357.2K
$312.6K – $416.8K
NOI $25,005 @ 7.0% cap · market cap 7.15%
Theoretical Best
Office A
$658.0K
$575.7K – $767.6K
NOI $46,057 @ 7.0% cap · market cap 13.16%
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
1,248
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
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 flexible units include separate utilities, laundry hookups, and outdoor porch and deck space.
Where is this duplex located?
The property is located at 121 Tacoma Avenue Buffalo, NY.
What is the asking price?
The asking price for this property is $349,900.
What are key features of this property?
This property features: Two‑unit duplex with 3‑bedroom, 1‑bathroom apartments; Lower unit vacant; upper unit occupied by a month‑to‑month tenant; Approximately 1,300 square feet of unfinished walk‑up attic space
