Duplex with Fenced
For Sale
$184,900
Pending
129 Albert Avenue, Buffalo, NY 14207
Residential, Buffalo, NY
Property Size1,628 SF
Lot Size0.07 Acres
Days on Market434
Property Features for 129 Albert Avenue
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Bedrooms
4
Bathrooms
2
Full bathrooms
2
Rooms
Bedroom 1, Bathroom 1, Bathroom 2, Basement, Bedroom 3, Bedroom 4, Bedroom 2
Patio and Porch features
Patio
Interior features
CeilingFans
Exterior features
Balcony, FullyFenced, Patio
Fencing
Fenced
Appliances
GasWaterHeater
Lot features
Rectangular, Rectangular Lot
Elementary school district
Buffalo
Middle school district
Buffalo
High school district
Buffalo
Directions
From Ontario St, head SE on Albert
Subdivision
Buffalo City-140200
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
Amenities
attic
basement
fenced yard
porch
Building Details
Year built
1920
Floors in Building
2
Number of units
2
Flooring type
Varies, Hardwood, Carpet, Tile, Vinyl, Laminate
Building materials
VinylSiding, CopperPlumbing
Architectural style
Other
Listing Agency:
Sell Your Homes Services, LLC
(888) 219-3009
Listed By:
Daniel J Demers · License #10491205270
(888) 219-3009
Added: Jun 17, 2025
Changed: Aug 19
Last Checked: Aug 24 at 10:06AM
MLS# B1615551
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.
Investment Insights
Based on property information with market context.
This 1,628-square-foot duplex, built in 1920, contains two two-bedroom units with separate utilities. The upper residence is vacant and includes painted interiors, carpeted living and dining rooms, a porch, a kitchen with ample cabinetry, two bedrooms with closets, and a refreshed bathroom. The tenant-occupied lower unit offers a spacious living room, hardwood dining area with stained-glass windows, an eat-in kitchen, two carpeted bedrooms, and an updated bathroom.
The property also includes an attic, basement, fenced yard, patio, balcony, and off-street parking. Vinyl siding, copper plumbing, forced-air heat, a gas water heater, and public water are among the existing features. A 2024 Rental Compliance Certificate is in place, and the property recently passed FHA approval.
The property also includes an attic, basement, fenced yard, patio, balcony, and off-street parking. Vinyl siding, copper plumbing, forced-air heat, a gas water heater, and public water are among the existing features. A 2024 Rental Compliance Certificate is in place, and the property recently passed FHA approval.
Key Highlights
- Two‑unit duplex with 1,628 square feet and two bedrooms in each unit
- Vacant upper unit with painted interiors, porch, refreshed bath, and ample kitchen cabinetry
- Lower unit is tenant‑occupied and includes hardwood flooring and stained‑glass dining‑room windows
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
Single-tenant
Tenancy
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
767
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 - Vinyl-sided duplex with separate utilities, off-street parking, and one vacant unit available for occupancy.
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: Two‑unit duplex with 1,628 square feet and two bedrooms in each unit; Vacant upper unit with painted interiors, porch, refreshed bath, and ample kitchen cabinetry; Lower unit is tenant‑occupied and includes hardwood flooring and stained‑glass dining‑room windows
