Updated Duplex with Two-Car
For Sale
$329,900
1294 George Urban Boulevard, Buffalo, NY 14225
Residential, Buffalo, NY
Property Size2,464 SF
Lot Size0.13 Acres
Price / SF$133.89
Days on Market33
Property Features for 1294 George Urban Boulevard
General Information
Property type
Residential Multi Family
Property subtype
Other
Bedrooms
6
Bathrooms
2
Full bathrooms
2
Rooms
Bathroom 1, Basement, Bedroom 5, Bedroom 3, Bedroom 4, Bedroom 1, Bedroom 6, Bathroom 2, Bedroom 2
Appliances
GasWaterHeater
Lot features
Near Public Transit, Rectangular, Rectangular Lot, Residential Lot
Elementary school district
Maryvale
Middle school district
Maryvale
High school district
Maryvale
Subdivision
Cheektowaga-143089
Standard status
Active
APN
143089-103-050-0002-052-000
Size
2,464 SF
Lot size
0.13 Acres
Taxes and HOA fees
Tax Annual Amount
7004
Utilities
Heating system
Natural Gas, Forced Air
Water source
Public
Amenities
full basement
2 car garage
Building Details
Year built
1952
Floors in Building
2
Number of units
2
Flooring type
Varies, Hardwood, Vinyl
Building materials
Brick, VinylSiding
Listing Agency:
Keller Williams Realty WNY
(716) 832-3300
Listed By:
Theodore N Gogos · License #10301224223
(716) 345-0437
Added: Jul 28
Changed: Aug 28
Last Checked: Aug 29 at 3:06AM
MLS# B1701583
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 duplex at 1294 George Urban Boulevard contains 2,464 square feet across two three-bedroom, one-bath units. Interior work includes an updated eat-in kitchen in the lower apartment, fresh paint, and flooring improvements made throughout both units. The lower apartment will be vacant at closing, while the upper apartment is occupied by a tenant.
The property sits on a 0.13-acre lot with off-street parking, a full basement, and a two-car garage for storage and vehicle space. Built in 1952, the building combines brick and vinyl siding with natural-gas forced-air heat and public water. Its Buffalo-area setting provides access to highways, the Buffalo-Niagara airport, shopping, and public transportation.
The property sits on a 0.13-acre lot with off-street parking, a full basement, and a two-car garage for storage and vehicle space. Built in 1952, the building combines brick and vinyl siding with natural-gas forced-air heat and public water. Its Buffalo-area setting provides access to highways, the Buffalo-Niagara airport, shopping, and public transportation.
Key Highlights
- 2,464‑square‑foot duplex with two 3‑bedroom, 1‑bath units
- 0.13‑acre lot with off‑street parking
- Two‑car garage and full basement provide additional storage
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
$24,449
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
7.41%
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%
$488,980
$489.0K
Cap Rate 7%
$349,271
$349.3K
Cap Rate 9%
$271,656
$271.7K
Market Conditions
NOI Build-Up for 2,464 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
$37.0K $15.00/SF
− Vacancy
−$2.0K −$0.83/SF
EGI
$34.9K $14.17/SF
− OpEx
−$10.5K −$4.25/SF
NOI
$24.4K $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%
$488,980
Cap Rate 7%
$349,271
Cap Rate 9%
$271,656
Alternative Uses
Best Use
Multifamily LT 5
$349.3K
$305.6K – $407.5K
NOI $24,449 @ 7.0% cap · market cap 7.41%
Second Best
Apartment 5plus
$321.7K
$281.5K – $375.3K
NOI $22,519 @ 7.0% cap · market cap 6.83%
Theoretical Best
Office A
$592.5K
$518.5K – $691.3K
NOI $41,478 @ 7.0% cap · market cap 12.57%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
629
Businesses Nearby
Explore this area
Business Placement
Demographics for 14225, NY
34,066
Population
16,253
Households
2.1
Avg Household Size
41
Median Age
29%
College-Educated
93%
High-School Grad
11.5 sq mi
ZIP Area
2,962
Density / Sq Mi
$65,562
Median Household Income
$44,408
Median Earnings
$937
Median Rent
$154,500
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 three-bedroom apartments offer recent interior improvements and off-street parking.
Where is this duplex located?
The property is located at 1294 George Urban Boulevard Buffalo, NY.
What is the asking price?
The asking price for this property is $329,900.
What are key features of this property?
This property features: 2,464‑square‑foot duplex with two 3‑bedroom, 1‑bath units; 0.13‑acre lot with off‑street parking; Two‑car garage and full basement provide additional storage
