Updated Duplex with Separate
For Sale
$169,900
15 Andrews Avenue, Buffalo, NY 14225
Residential, Buffalo, NY
Property Size1,360 SF
Lot Size0.04 Acres
Price / SF$124.93
Days on Market78
Property Features for 15 Andrews Avenue
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Zoning description
Residential 2 Unit
Bedrooms
3
Bathrooms
2
Full bathrooms
2
Rooms
Bedroom 1, Bathroom 2, Bathroom 1, Bedroom 3, Bedroom 2, Basement
Parking features
Driveway
Patio and Porch features
Porch, Deck
Exterior features
Deck, EnclosedPorch, Porch
Appliances
GasWaterHeater
Subdivision
Volland Ave Land Companys
Lot features
Near Public Transit, Rectangular, Rectangular Lot, Residential Lot
Elementary school district
Cheektowaga
Middle school district
Cheektowaga
High school district
Cheektowaga
Directions
Take Harlem road to Genesee street. Turn onto 15 Andrews Ave from Genesee street.
Standard status
Active
APN
143089-101-280-0003-012-000
Size
1,360 SF
Lot size
0.04 Acres
Taxes and HOA fees
Tax Annual Amount
3512
Utilities
Heating system
Natural Gas, Forced Air
Water source
Public
Building Details
Year built
1917
Floors in Building
2
Number of units
2
Flooring type
Carpet, Laminate, Varies
Building materials
AtticCrawlHatchwaysInsulated, VinylSiding
Roof type
Asphalt
Architectural style
Other
Listing Agency:
WNY Metro Roberts Realty
(716) 875-2211
Listed By:
Carolyn Gibbins · License #10401378970
(518) 866-4266
Added: Jun 8
Changed: Aug 20
Last Checked: Aug 24 at 6:06PM
MLS# B1687965
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 two-unit residential property contains 1,360 square feet within a 1917-built structure. The lower apartment has one bedroom and one bathroom, along with living and dining space, newer carpeting, and a furnace and hot water tank installed in 2024. The upper apartment includes two bedrooms and one bathroom, plus a remodeled kitchen with new cabinets, countertops, recessed lighting, and LVT flooring. Both units have separate utilities and access to the basement.
Recent property improvements include PEX plumbing updated in 2019, a high-efficiency furnace and hot water tank serving the upper unit, a new porch completed in 2024, and replacement windows and exterior doors installed in 2023. Additional features include vinyl siding, an asphalt roof, natural-gas forced-air heat, public water, a driveway, deck, and enclosed porch. The property is located near bus routes, shopping centers, and the Walden Galleria in Buffalo, NY.
Recent property improvements include PEX plumbing updated in 2019, a high-efficiency furnace and hot water tank serving the upper unit, a new porch completed in 2024, and replacement windows and exterior doors installed in 2023. Additional features include vinyl siding, an asphalt roof, natural-gas forced-air heat, public water, a driveway, deck, and enclosed porch. The property is located near bus routes, shopping centers, and the Walden Galleria in Buffalo, NY.
Key Highlights
- Two‑unit property with 1,360 square feet, built in 1917
- Lower unit: 1 bedroom and 1 bathroom with updated furnace and hot water tank added in 2024
- Upper unit: 2 bedrooms and 1 bathroom with remodeled kitchen finishes
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
$13,495
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
7.94%
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%
$269,900
$269.9K
Cap Rate 7%
$192,786
$192.8K
Cap Rate 9%
$149,944
$149.9K
Market Conditions
NOI Build-Up for 1,360 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
$20.4K $15.00/SF
− Vacancy
−$1.1K −$0.83/SF
EGI
$19.3K $14.17/SF
− OpEx
−$5.8K −$4.25/SF
NOI
$13.5K $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%
$269,900
Cap Rate 7%
$192,786
Cap Rate 9%
$149,944
Alternative Uses
Best Use
Multifamily LT 5
$192.8K
$168.7K – $224.9K
NOI $13,495 @ 7.0% cap · market cap 7.94%
Second Best
Apartment 5plus
$177.6K
$155.4K – $207.2K
NOI $12,430 @ 7.0% cap · market cap 7.32%
Theoretical Best
Office A
$327.1K
$286.2K – $381.6K
NOI $22,894 @ 7.0% cap · market cap 13.47%
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
391
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
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 offer distinct layouts, basement access, and recent improvements to major building systems and finishes.
Where is this duplex located?
The property is located at 15 Andrews Avenue Buffalo, NY.
What is the asking price?
The asking price for this property is $169,900.
What are key features of this property?
This property features: Two‑unit property with 1,360 square feet, built in 1917; Lower unit: 1 bedroom and 1 bathroom with updated furnace and hot water tank added in 2024; Upper unit: 2 bedrooms and 1 bathroom with remodeled kitchen finishes
