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    Buffalo Duplex with Fenced Yard Title is generated by Realmo AI

    129 Albert Avenue, Buffalo, NY 14207

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    Pending
    $184,900

    MULTI_FAMILY - Other - Buffalo, NY

    Property size:
    1,628 SF
    Lot size:
    0.07 Acres
    Added:
    Jun 17, 2025
    Days on Market:
    334
    Last Refresh:
    May 16 at 4:06 pm

    Property Features for 129 Albert Avenue

    General Information

    Property type
    Residential Multi Family
    Property subtype
    Other
    Bedrooms
    4
    Bathrooms
    2
    Rooms
    Bedroom 2, Bedroom 3, Bathroom 1, Bathroom 2, Bedroom 1, Basement, Bedroom 4
    Patio and Porch features
    Patio
    Interior features
    CeilingFans
    Exterior features
    Balcony, FullyFenced, Patio
    Fencing
    Fenced
    Appliances
    GasWaterHeater
    Standard status
    Pending
    APN
    140200-077-650-0004-003-000
    Size
    1,628 SF
    Lot size
    0.07 Acres

    Taxes and HOA fees

    Tax Annual Amount
    1149

    Utilities

    Heating system
    Forced Air
    Water source
    Public

    Building Details

    Year built
    1920
    Floors in Building
    2
    Number of units
    2
    Flooring type
    Carpet, Varies, Vinyl, Hardwood, Laminate, Tile
    Building materials
    VinylSiding, CopperPlumbing
    Architectural style
    Other

    We can help!

    Listing Contact
    Daniel J Demers

    Listing agent Daniel J Demers License #10491205270

    Listing office Sell Your Homes Services, LLC 212 Ninth St., East Providence, NY

    Listing date Jun 17, 2025

    MLS# B1615551 Listing URL

    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.

    HighLights

    • FHA Approval: Making financing easier for buyers.
    • Two Units: Double property perfect for rental income or multi‑generational living.
    • Vacant Upper Unit: Freshly painted and ready to show, allowing for immediate occupancy.
    • Separate Utilities: Each unit has separate utilities, simplifying billing.
    • Updated Bathrooms: Both units feature updated bathrooms.
    • Off‑Street Parking: A valuable amenity included with the property.

    Overview

    This is a two-unit, vinyl-sided duplex featuring an attic, basement, and fenced yard. The property has recently passed FHA approval. The upper unit is currently vacant and features a freshly painted interior, carpeted living and dining rooms, a porch, a kitchen with ample cupboards, two bedrooms with closets, and a refreshed bathroom. The lower unit is tenant-occupied and includes a spacious living room, a dining area with hardwood floors and stained-glass windows, an eat-in kitchen, two carpeted bedrooms with well-sized closets, and an updated bathroom. Located in a well-kept area, the property offers off-street parking and separate utilities. The property has a 2024 Rental Compliance Certificate. The property size is 1628 square feet and the lot size is 0.0689 acres.

    Financial Insights

    Value Estimation Calculated for Multifamily LT 5

    Conservative
    $179.5K
    NOI $16,154 @ 9.00% cap · cautious / downside scenario
    Moderate
    $230.8K
    NOI $16,154 @ 7.00% cap · market / base-case scenario
    Aggressive
    $323.1K
    NOI $16,154 @ 5.00% cap · optimistic / upside scenario

    NOI & Cap Rate Calculator

    NOI Build-Up
    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.
         Calculated for Multifamily LT 5

    Component $ $/SF
    Gross rent $24.4k $15.00
    − Vacancy −$1.3k −$0.83
    EGI $23.1k $14.17
    − OpEx −$6.9k −$4.25
    NOI $16.2k $9.92
    1,628 SF · lease $15.00/SF/yr · vacancy 5.50% · expense 30.00%

    Alternative Use Scenarios

    Best Use
    Multifamily LT 5
    $230.8K
    $201.9K – $269.2K (±1% cap)
    NOI $16,154 @ 7.0% cap · market cap 8.74%
    Second Best
    Apartment 5plus
    $212.6K
    $186.0K – $248.0K (±1% cap)
    NOI $14,879 @ 7.0% cap · market cap 8.05%
    Theoretical Best
    Office A
    $391.5K
    $342.6K – $456.8K (±1% cap)
    NOI $27,405 @ 7.0% cap · market cap 14.82%
    Zoning and permitted uses should be independently verified with local authorities.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Duplexes

    Suggested Use

    Real Estate Agency Law Firm Restaurant Spa & Massage Center Dental Office Hair Salon Nail Salon Building Supply Gym & Fitness Center Pharmacy

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Buffalo
    County
    Erie
    State
    New York
    Longitude
    -78.897664
    Latitude
    42.94983

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    FAQs

    What type of property is this?
    Duplex - Two-unit property with recent updates and separate utilities in Buffalo.
    Where is this duplex located?
    The property is located at 129 Albert Avenue 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: FHA Approval: Making financing easier for buyers.; Two Units: Double property perfect for rental income or multi‑generational living.; Vacant Upper Unit: Freshly painted and ready to show, allowing for immediate occupancy.
    (888) 219-3009
    We can help!
    Listing Contact
    Daniel J Demers
    Real Estate License ID: 10491205270
    Learn More
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

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