Updated Duplex with Separate
For Sale
$274,900
142 Onondaga Avenue, West Seneca, NY 14220
Two-unit property with refreshed interiors, a new lower-unit kitchen, split HVAC systems, and a backyard with shed and concrete pads.
Property Size2,204 SF
Days on Market11
Property Features for 142 Onondaga Avenue
General Information
Standard status
Active
Size
2,204 SF
Property subtype
Multi Family
Site & Location
Public Transit
Yes
Utilities to Site
Yes
Additional Details
Multifamily Units
2
Taxes and HOA fees
Annual Taxes
$4,256
Amenities
shed
concrete pads
Building Details
Building Size
2,204 SF
Year Built
1955
Listing Agency:
Buffalo Home Sellers LLC
(732) 757-6288
Listed By:
Brandi Bashor · License #10301221794
(732) 757-6288
Source:
Highfallssir
Added: Aug 14
Changed: Aug 24
Last Checked: Aug 23 at 5:19AM
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 Buffalo Home Sellers LLC
Investment Insights
Based on property information with market context.
This duplex, built in 1955, includes an upper unit and a lower unit with a three-bedroom, two-bath configuration. Interior improvements include refinished hardwood flooring upstairs, luxury vinyl plank flooring downstairs, fresh paint, updated fixtures and outlets, solid-core doors, and a new kitchen in the lower unit.
The property has two separate boilers, gas and electric hookups, one shared hot water tank, and mini-split systems serving both units. Exterior features include a backyard, shed, and concrete pads. The address is near Cazenovia Park, Dorrance Park, the Buffalo Botanical Gardens, Imperial Pizza, Doc Sullivan’s, and Shea’s Seneca.
The property has two separate boilers, gas and electric hookups, one shared hot water tank, and mini-split systems serving both units. Exterior features include a backyard, shed, and concrete pads. The address is near Cazenovia Park, Dorrance Park, the Buffalo Botanical Gardens, Imperial Pizza, Doc Sullivan’s, and Shea’s Seneca.
Key Highlights
- Duplex with upper and lower units in a 3‑bedroom, 2‑bath configuration
- Built in 1955
- Lower unit includes a new kitchen and luxury vinyl plank flooring
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-unit property with refreshed interiors, a new lower-unit kitchen, split HVAC systems, and a backyard with shed and concrete pads.
Where is this duplex located?
The property is located at 142 Onondaga Avenue West Seneca, 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: Duplex with upper and lower units in a 3‑bedroom, 2‑bath configuration; Built in 1955; Lower unit includes a new kitchen and luxury vinyl plank flooring
