Two-Unit Duplex with Fenced
For Sale
$184,900
Pending
129 Albert Ave, Buffalo, NY 14207
2/2 duplex with an attic, basement, fenced yard, and separate utilities, with an upstairs unit ready to show.
Property Size1,628 SF
Days on Market710
Property Features for 129 Albert Ave
General Information
Standard status
Pending
Size
1,628 SF
Property subtype
Duplex
Additional Details
Fenced Yard
Yes
Multifamily Units
2
Taxes and HOA fees
Annual Taxes
$1,149
Amenities
A/C - Other, Ceiling Fan(s)
Full
3
Hardwood, Tile, Vinyl, Laminate, Carpet
Other
Patio, Balcony
Fenced Yard.
Vinyl
Rectangular
30X100
Trash Collection. Other, Rectangular.
Building Details
Year Built
1920
Listed By:
Sell Your Home Services
(888) 219-3009
Source:
Xome
Added: Sep 27, 2024
Changed: Sep 1
Last Checked: Sep 5 at 4:45AM
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 Sell Your Home Services
Investment Insights
Based on property information with market context.
Located at 129 Albert Ave, Buffalo, NY 14207, this 2/2 vinyl-sided duplex includes an attic and basement, plus a fenced yard. The upper unit is vacant and has a freshly painted interior, carpeted living/dining rooms, a porch, a kitchen with ample cupboards, two bedrooms with closets, and a refreshed bath.
The lower unit is tenant-occupied and features a spacious living room, a hardwood-floored dining area with stained-glass windows, an eat-in kitchen, two carpeted bedrooms with well-sized closets, and an updated bath. The property is in a well-kept area and offers off-street parking, with separate utilities for the two units.
The property recently passed FHA approval and is back on the market after being under contract. A 2024 Rental Compliance Certificate is in place, supporting its current rental readiness.
The lower unit is tenant-occupied and features a spacious living room, a hardwood-floored dining area with stained-glass windows, an eat-in kitchen, two carpeted bedrooms with well-sized closets, and an updated bath. The property is in a well-kept area and offers off-street parking, with separate utilities for the two units.
The property recently passed FHA approval and is back on the market after being under contract. A 2024 Rental Compliance Certificate is in place, supporting its current rental readiness.
Key Highlights
- 2/2 duplex with vinyl exterior, attic, and basement
- Upper unit is vacant and freshly painted, with carpeted living/dining rooms, porch, and 2 bedrooms
- Lower unit is tenant‑occupied and includes a spacious living room, hardwood dining area with stained‑glass windows, and an eat‑in kitchen
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
$16,154
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
8.74%
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%
$323,080
$323.1K
Cap Rate 7%
$230,771
$230.8K
Cap Rate 9%
$179,489
$179.5K
Market Conditions
NOI Build-Up for 1,628 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
$24.4K $15.00/SF
− Vacancy
−$1.3K −$0.83/SF
EGI
$23.1K $14.17/SF
− OpEx
−$6.9K −$4.25/SF
NOI
$16.2K $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%
$323,080
Cap Rate 7%
$230,771
Cap Rate 9%
$179,489
Alternative Uses
Best Use
Multifamily LT 5
$230.8K
$201.9K – $269.2K
NOI $16,154 @ 7.0% cap · market cap 8.74%
Second Best
Apartment 5plus
$212.6K
$186.0K – $248.0K
NOI $14,879 @ 7.0% cap · market cap 8.05%
Theoretical Best
Office A
$391.5K
$342.6K – $456.8K
NOI $27,405 @ 7.0% cap · market cap 14.82%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Yes
Fenced yard
Location Intelligence
Trade Area within ½ mile
773
Businesses Nearby
Explore this area
Business Placement
Demographics for 14207, NY
26,006
Population
11,317
Households
2.3
Avg Household Size
32
Median Age
19%
College-Educated
79%
High-School Grad
3.9 sq mi
ZIP Area
6,668
Density / Sq Mi
$38,951
Median Household Income
$33,851
Median Earnings
$943
Median Rent
$111,200
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 - 2/2 duplex with an attic, basement, fenced yard, and separate utilities, with an upstairs unit ready to show.
Where is this duplex located?
The property is located at 129 Albert Ave Buffalo, NY.
What is the asking price?
The asking price for this property is $184,900.
What are key features of this property?
This property features: 2/2 duplex with vinyl exterior, attic, and basement; Upper unit is vacant and freshly painted, with carpeted living/dining rooms, porch, and 2 bedrooms; Lower unit is tenant‑occupied and includes a spacious living room, hardwood dining area with stained‑glass windows, and an eat‑in kitchen
