Updated Duplex with Two-Car
For Sale
$329,900
1294 George Urban Boulevard, Buffalo, NY 14225
Two three-bedroom units with refreshed interiors, off-street parking, basement storage, and a detached two-car garage.
Property Size2,464 SF
Price / SF$133.89
Days on Market51
Property Features for 1294 George Urban Boulevard
General Information
Standard status
Active
Size
2,464 SF
Total Parking Spaces
2
Property subtype
Multi-Family
Units
Unit Mix
2 x 3BR/1BA
Multifamily Units
2
Additional Details
Highway Access
Yes
Building Details
Year Built
1952
Tenancy
Single
Listing Agency:
Keller Williams Realty WNY
Listed By:
Theodore N Gogos · License #10301224223
(716) 345-0437
Source:
Skinnercnyrealty
Added: Aug 13
Changed: Sep 9
Last Checked: Oct 1 at 1:15PM
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 Keller Williams Realty WNY
Investment Insights
Based on property information with market context.
This 2,464-square-foot duplex, built in 1952, contains two three-bedroom, one-bath residences. The lower unit has an updated eat-in kitchen, while both apartments feature fresh paint, new flooring, and additional improvements completed over the past couple of years. The lower residence will be vacant at closing; the upper unit is occupied by an existing tenant.
Exterior amenities include off-street parking, a full basement, and a two-car garage that provides additional storage capacity. The property is positioned near highway access, Buffalo-Niagara International Airport, shopping, public transportation, and everyday services. Located at 1294 George Urban Boulevard in Buffalo, the duplex offers a two-unit residential configuration with updated interior finishes and practical ancillary space.
Exterior amenities include off-street parking, a full basement, and a two-car garage that provides additional storage capacity. The property is positioned near highway access, Buffalo-Niagara International Airport, shopping, public transportation, and everyday services. Located at 1294 George Urban Boulevard in Buffalo, the duplex offers a two-unit residential configuration with updated interior finishes and practical ancillary space.
Key Highlights
- Two 3‑bedroom, 1‑bath units within a 2,464 SF duplex
- Lower unit to be vacant at closing; second‑floor unit is tenant occupied
- Updated eat‑in kitchen in the lower unit
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
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Current Use
Lease Details
2
Residential units
Single-tenant
Tenancy
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
435
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
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in Northeast region
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Frequently Asked Questions
What type of property is this?
Duplex - Two three-bedroom units with refreshed interiors, off-street parking, basement storage, and a detached two-car garage.
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: Two 3‑bedroom, 1‑bath units within a 2,464 SF duplex; Lower unit to be vacant at closing; second‑floor unit is tenant occupied; Updated eat‑in kitchen in the lower unit
