Updated Duplex with Attached
For Sale
$599,900
Pending
59 Linwood Ave, Buffalo, NY 14209
Preservation-district duplex with a spacious owner residence, separate rental unit, garages, and a fenced garden setting.
Property Size3,738 SF
Days on Market547
Property Features for 59 Linwood Ave
General Information
Standard status
Pending
Size
3,738 SF
Property subtype
Multi-Family
Additional Details
Multifamily Units
2
Taxes and HOA fees
Annual Taxes
$5,117
Amenities
decorative fireplaces
hardwood floors
butler's pantry
updated kitchen
updated bathroom
in-unit laundry
cathedral ceilings
fenced back yard
Japanese inspired garden
Central Air, Gas
Full
3
Hardwood, Tile, Ceramic Tile
Attic Storage, Cable Available, Natural Woodwork, Washer Hook Ups
Other, Full
Fenced Yard.
3 Garage Spaces. Concrete Driveway.
Other
Rectangular
45X150
Trash Collection. Rectangular.
Building Details
Year Built
1900
Listing Agency:
(716) 455-9859
Listed By:
Danahy Real Estate
(716) 903-0877
Source:
Xome
Added: Mar 3, 2025
Changed: Aug 30
Last Checked: Aug 31 at 1:11PM
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 Danahy Real Estate
Investment Insights
Based on property information with market context.
This Buffalo duplex combines a substantial owner residence with a separately updated one-bedroom apartment. The primary home spans three floors and more than 3,000 square feet, with hardwood floors, natural woodwork, five decorative fireplaces, a formal living room, dining room, butler’s pantry, updated kitchen, multiple bedrooms, private office or den, second-floor laundry, and two full bathrooms. A large unfinished third-floor area with cathedral ceilings offers additional existing space. The residence also includes a two-car-plus attached garage.
The second unit has its own entrance and detached one-car garage, along with a living room, kitchen equipped with new appliances, in-unit laundry, and an updated bathroom. The property includes central air, gas service, a concrete driveway, and a fully fenced rear yard with a Japanese-inspired garden. Set within the Linwood preservation district, the property is near the medical campus and downtown Buffalo amenities.
The second unit has its own entrance and detached one-car garage, along with a living room, kitchen equipped with new appliances, in-unit laundry, and an updated bathroom. The property includes central air, gas service, a concrete driveway, and a fully fenced rear yard with a Japanese-inspired garden. Set within the Linwood preservation district, the property is near the medical campus and downtown Buffalo amenities.
Key Highlights
- Three‑story owner residence with more than 3,000 square feet of living space
- 3,738‑square‑foot duplex property built in 1900
- Five decorative fireplaces, hardwood floors, and natural woodwork in the main residence
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
$37,090
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
6.18%
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%
$741,800
$741.8K
Cap Rate 7%
$529,857
$529.9K
Cap Rate 9%
$412,111
$412.1K
Market Conditions
NOI Build-Up for 3,738 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
$56.1K $15.00/SF
− Vacancy
−$3.1K −$0.83/SF
EGI
$53.0K $14.17/SF
− OpEx
−$15.9K −$4.25/SF
NOI
$37.1K $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%
$741,800
Cap Rate 7%
$529,857
Cap Rate 9%
$412,111
Alternative Uses
Best Use
Multifamily LT 5
$529.9K
$463.6K – $618.2K
NOI $37,090 @ 7.0% cap · market cap 6.18%
Second Best
Apartment 5plus
$488.0K
$427.0K – $569.4K
NOI $34,163 @ 7.0% cap · market cap 5.69%
Theoretical Best
Office A
$898.9K
$786.6K – $1.05M
NOI $62,924 @ 7.0% cap · market cap 10.49%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
4,475
Businesses Nearby
Explore this area
Business Placement
Demographics for 14209, NY
8,251
Population
4,729
Households
1.7
Avg Household Size
39
Median Age
46%
College-Educated
90%
High-School Grad
1.0 sq mi
ZIP Area
8,251
Density / Sq Mi
$49,359
Median Household Income
$33,329
Median Earnings
$1,025
Median Rent
$408,600
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 - Preservation-district duplex with a spacious owner residence, separate rental unit, garages, and a fenced garden setting.
Where is this duplex located?
The property is located at 59 Linwood Ave Buffalo, NY.
What is the asking price?
The asking price for this property is $599,900.
What are key features of this property?
This property features: Three‑story owner residence with more than 3,000 square feet of living space; 3,738‑square‑foot duplex property built in 1900; Five decorative fireplaces, hardwood floors, and natural woodwork in the main residence
