Building Details

Building Size 1,856 SF

Year Built 1946

Tenancy Multi

Listing Agency: EXP Commercial - Vega m***@expcommercial.com Show Phone

Listed By: Michael Conroy · License #NY #10301218830 Show Phone

Source: 7s

Added: Jul 8 Changed: Aug 8 Last Checked: Aug 20 at 5:27AM

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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 EXP Commercial - Vega

Investment Insights

Based on property information with market context.

This well-maintained side-by-side duplex includes two residential units, each with its own separate entrance. The property is configured as a duplex for income and also offers flexibility for owner-occupancy.

Located in the Village of Kenmore, the property is described as conveniently near shopping, restaurants, schools, parks, and public transportation, with close proximity to downtown Buffalo and major highways.

With a strong rental appeal noted in the listing and a layout designed around two separate units, this duplex is presented as well-suited for investors or owner-occupants seeking a neighborhood residential income property.

Key Highlights

• Side‑by‑side duplex in the Village of Kenmore with 2 residential units and separate entrances
• Approximately 1,856 SF total living area
• Year built: 1946

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

$18,416

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

6.24%

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%

$368,320 $368.3K

Cap Rate 7%

$263,086 $263.1K

Cap Rate 9%

$204,622 $204.6K

Market Conditions

NOI Build-Up for 1,856 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

$27.8K $15.00/SF

− Vacancy

−$1.5K −$0.83/SF

EGI

$26.3K $14.17/SF

− OpEx

−$7.9K −$4.25/SF

NOI

$18.4K $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%

$368,320

Cap Rate 7%

$263,086

Cap Rate 9%

$204,622

Alternative Uses

Best Use

Multifamily LT 5

$263.1K

$230.2K – $306.9K (±1% cap)

NOI $18,416 @ 7.0% cap · market cap 6.24%

Second Best

Apartment 5plus

$242.3K

$212.0K – $282.7K (±1% cap)

NOI $16,963 @ 7.0% cap · market cap 5.75%

Theoretical Best

Office A

$446.3K

$390.5K – $520.7K (±1% cap)

NOI $31,243 @ 7.0% cap · market cap 10.59%

Zoning and permitted uses should be independently verified with authorities.

Property Analytics

Property Profile

Current Use

Duplexes

Suggested Use

Top Pick Real Estate Agency Electrical Service Daycare Center (Bike/Boat/Book/etc) Store Parking Lot & Garage Travel Agency

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Lease Details

2

Residential units

Multi-tenant

Tenancy

Yes

Highway access

Location Intelligence

Trade Area within ½ mile

1,097

Businesses Nearby

Explore this area Business Placement

Demographics for 14217, NY

23,085

Population

11,280

Households

2

Avg Household Size

41

Median Age

41%

College-Educated

95%

High-School Grad

3.2 sq mi

ZIP Area

7,214

Density / Sq Mi

$72,205

Median Household Income

$51,075

Median Earnings

$970

Median Rent

$193,200

Median Home Value

Market

Vacancy Rate% for Multifamily in Northeast region

4% 2022

4.6% 2023

5.3% 2024

5.6% 2025

Questions? Ask Rey

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Frequently Asked Questions

What type of property is this?

Duplex - Well-maintained side-by-side duplex with two residential units and separate entrances in the Village of Kenmore.

Where is this duplex located?

The property is located at 290 Wabash Ave Kenmore, NY.

What is the asking price?

The asking price for this property is $295,000.

What are key features of this property?

This property features: Side‑by‑side duplex in the Village of Kenmore with 2 residential units and separate entrances; Approximately 1,856 SF total living area; Year built: 1946