Updated Duplex with Off-Street
New
For Sale
$274,900
142 Onondaga Avenue, Buffalo, NY 14220
Residential, Buffalo, NY
Property Size2,204 SF
Lot Size0.14 Acres
Price / SF$124.73
Days on Market7
Property Features for 142 Onondaga Avenue
General Information
Property type
Residential Multi Family
Property subtype
Other
Bedrooms
5
Bathrooms
2
Full bathrooms
2
Rooms
Basement, Bedroom 4, Bedroom 3, Bathroom 1, Bedroom 5, Bedroom 1, Bedroom 2, Bathroom 2
Patio and Porch features
Patio
Interior features
PullDownAtticStairs
Exterior features
Fence, Patio
Fencing
Fenced
Appliances
GasWaterHeater
Subdivision
Buffalo Crk Reservation
Lot features
Near Public Transit, Rectangular, Rectangular Lot, Residential Lot
Elementary school district
West Seneca
Middle school district
West Seneca
High school district
West Seneca
Directions
East side of Onondaga in between Potters Rd. and Dorrance. Near the end of Downing Street.
Standard status
Active
APN
146800-133-200-0014-034-000
Size
2,204 SF
Lot size
0.14 Acres
Taxes and HOA fees
Tax Annual Amount
4256
Utilities
Heating system
Ductless (Heating), Baseboard, Natural Gas
Cooling system
Ductless
Water source
Public
Building Details
Year built
1955
Floors in Building
2
Number of units
2
Flooring type
Varies, Hardwood, Carpet, Laminate, Vinyl
Building materials
AluminumSiding, VinylSiding
Roof type
Asphalt, Shingle
Architectural style
Other
Listing Agency:
Buffalo Home Sellers LLC
(716) 471-9266
Listed By:
Brandi Bashor · License #10301221794
(732) 757-6288
Added: Aug 14
Changed: Aug 20
Last Checked: Aug 20 at 2:06AM
MLS# B1706480
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 2,204-square-foot duplex, built in 1955, offers two residential units on a 0.1422-acre parcel. Interior improvements include refinished hardwood flooring in the upper unit, luxury vinyl plank flooring below, fresh paint, updated fixtures and outlets, solid-core doors, and a new lower-unit kitchen. The property also includes a pull-down attic, basement, shed, patio, fencing, and four off-street parking spaces.
Mechanical systems include two separate boilers, gas and electric hookups, a shared hot water tank, and ductless mini-split systems serving both units for heating and cooling. The property is located at 142 Onondaga Avenue in Buffalo, within the 14220 ZIP code, and includes access to public water. The source information also identifies West Seneca Schools and nearby Cazenovia Park, Dorrance Park, the Botanical Gardens, Imperial Pizza, Doc Sullivan's, and Shea's Seneca.
Mechanical systems include two separate boilers, gas and electric hookups, a shared hot water tank, and ductless mini-split systems serving both units for heating and cooling. The property is located at 142 Onondaga Avenue in Buffalo, within the 14220 ZIP code, and includes access to public water. The source information also identifies West Seneca Schools and nearby Cazenovia Park, Dorrance Park, the Botanical Gardens, Imperial Pizza, Doc Sullivan's, and Shea's Seneca.
Key Highlights
- 2,204 square feet on a 0.1422‑acre parcel
- Two residential units with separate boilers
- Four off‑street parking spaces
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
$21,869
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
7.96%
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%
$437,380
$437.4K
Cap Rate 7%
$312,414
$312.4K
Cap Rate 9%
$242,989
$243.0K
Market Conditions
NOI Build-Up for 2,204 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
$33.1K $15.00/SF
− Vacancy
−$1.8K −$0.83/SF
EGI
$31.2K $14.17/SF
− OpEx
−$9.4K −$4.25/SF
NOI
$21.9K $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%
$437,380
Cap Rate 7%
$312,414
Cap Rate 9%
$242,989
Alternative Uses
Best Use
Multifamily LT 5
$312.4K
$273.4K – $364.5K
NOI $21,869 @ 7.0% cap · market cap 7.96%
Second Best
Apartment 5plus
$287.8K
$251.8K – $335.7K
NOI $20,143 @ 7.0% cap · market cap 7.33%
Theoretical Best
Office A
$530.0K
$463.8K – $618.4K
NOI $37,101 @ 7.0% cap · market cap 13.50%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
432
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
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 residential units feature refreshed interiors, separate boilers, and a fenced outdoor area.
Where is this duplex located?
The property is located at 142 Onondaga Avenue Buffalo, NY.
What is the asking price?
The asking price for this property is $274,900.
What are key features of this property?
This property features: 2,204 square feet on a 0.1422‑acre parcel; Two residential units with separate boilers; Four off‑street parking spaces
