Duplex with Three-Car
New
For Sale
$225,000
355 Baraga St, Buffalo, NY 14220
Each residence includes a walk-out porch, with an enclosed porch at the lower level.
Property Size2,064 SF
Price / SF$109.01
Days on Market5
Property Features for 355 Baraga St
General Information
Standard status
Active
Size
2,064 SF
Total Parking Spaces
3
Property subtype
Multi-Family
Property Condition
Severity
Repairs Needed
Evidence
ready for cosmetic updating
Units
Unit Mix
2 x 3BR/1BA
Multifamily Units
2
Amenities
walk-out porch
enclosed porch
Building Details
Year Built
1900
Listing Agency:
Howard Hanna WNY Inc.
Listed By:
Alexandra C Shea · License #10401254708
(716) 982-1813
Source:
Skinnercnyrealty
Added: Sep 20
Last Checked: Sep 24 at 12:16PM
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 Howard Hanna WNY Inc.
Investment Insights
Based on property information with market context.
Built in 1900, this duplex contains two residential units with matching layouts of three bedrooms and one full bathroom. Both residences have walk-out porches, while the lower unit adds an enclosed porch. The property also includes generous room sizes, off-street parking, and a three-car garage on a triple lot.
A full attic provides additional space for future use, and newer windows are already in place. The roof is approximately 9 years old, and the furnace is approximately 10 years old. Interior areas require cosmetic updating, and the property is being sold in as-is condition.
A full attic provides additional space for future use, and newer windows are already in place. The roof is approximately 9 years old, and the furnace is approximately 10 years old. Interior areas require cosmetic updating, and the property is being sold in as-is condition.
Key Highlights
- Two residential units, each with 3 bedrooms and 1 full bath
- Triple lot with a three‑car garage and off‑street parking
- Walk‑out porch for each unit; lower unit also has an enclosed porch
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
$20,480
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
9.10%
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%
$409,600
$409.6K
Cap Rate 7%
$292,571
$292.6K
Cap Rate 9%
$227,556
$227.6K
Market Conditions
NOI Build-Up for 2,064 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
$31.0K $15.00/SF
− Vacancy
−$1.7K −$0.83/SF
EGI
$29.3K $14.17/SF
− OpEx
−$8.8K −$4.25/SF
NOI
$20.5K $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%
$409,600
Cap Rate 7%
$292,571
Cap Rate 9%
$227,556
Alternative Uses
Best Use
Multifamily LT 5
$292.6K
$256.0K – $341.3K
NOI $20,480 @ 7.0% cap · market cap 9.10%
Second Best
Apartment 5plus
$269.5K
$235.8K – $314.4K
NOI $18,864 @ 7.0% cap · market cap 8.38%
Theoretical Best
Office A
$496.4K
$434.3K – $579.1K
NOI $34,745 @ 7.0% cap · market cap 15.44%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
384
Businesses Nearby
Explore this area
Business Placement
Demographics for 14220, NY
23,959
Population
11,286
Households
2.1
Avg Household Size
38
Median Age
28%
College-Educated
93%
High-School Grad
3.8 sq mi
ZIP Area
6,305
Density / Sq Mi
$68,337
Median Household Income
$42,112
Median Earnings
$974
Median Rent
$180,200
Median Home Value
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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 - Each residence includes a walk-out porch, with an enclosed porch at the lower level.
Where is this duplex located?
The property is located at 355 Baraga St Buffalo, NY.
What is the asking price?
The asking price for this property is $225,000.
What are key features of this property?
This property features: Two residential units, each with 3 bedrooms and 1 full bath; Triple lot with a three‑car garage and off‑street parking; Walk‑out porch for each unit; lower unit also has an enclosed porch
