Renovated Six-Bedroom
New
For Sale
$209,900
15 Parkview Avenue, Buffalo, NY 14210
Fully occupied two-unit property with updated lower-level finishes and established tenancy.
Property Size1,920 SF
Price / SF$109.32
Days on Market6
Property Features for 15 Parkview Avenue
General Information
Standard status
Active
Size
1,920 SF
Property subtype
Duplex
Occupancy
100%
Units
Unit Mix
2 x 3BR/1BA
Multifamily Units
2
Taxes and HOA fees
Annual Taxes
$2,084
Building Details
Building Size
1,920 SF
Year Built
1920
Listing Agency:
WNY Metro Roberts Realty
Listed By:
Gina Calamita · License #10401355676
(716) 536-6229
Source:
Highfallssir
Added: Sep 18
Changed: Sep 20
Last Checked: Sep 22 at 10:46PM
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 WNY Metro Roberts Realty
Investment Insights
Based on property information with market context.
This two-family residential property contains approximately 1,920 square feet across two units, with each offering three bedrooms and one full bathroom. The lower apartment has received substantial updates, including a remodeled kitchen, new flooring, fresh paint, replacement doors, three window glass-pane replacements, and improved toilet plumbing. New gutters with leaf guards add another exterior improvement. The property was built in 1920 and is fully occupied, providing established tenancy across both residences.
Located on Parkview Avenue in Buffalo, the property is near the Buffalo and Erie County Botanical Gardens, Cazenovia Park, shopping, dining, and major routes. Showings require a minimum of 24 hours’ notice.
Located on Parkview Avenue in Buffalo, the property is near the Buffalo and Erie County Botanical Gardens, Cazenovia Park, shopping, dining, and major routes. Showings require a minimum of 24 hours’ notice.
Key Highlights
- Two‑unit property with approximately 1,920 square feet
- Each apartment includes 3 bedrooms and 1 full bathroom
- Fully occupied with established tenancy
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
$19,051
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
9.08%
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%
$381,020
$381.0K
Cap Rate 7%
$272,157
$272.2K
Cap Rate 9%
$211,678
$211.7K
Market Conditions
NOI Build-Up for 1,920 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
$28.8K $15.00/SF
− Vacancy
−$1.6K −$0.83/SF
EGI
$27.2K $14.17/SF
− OpEx
−$8.2K −$4.25/SF
NOI
$19.1K $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%
$381,020
Cap Rate 7%
$272,157
Cap Rate 9%
$211,678
Alternative Uses
Best Use
Multifamily LT 5
$272.2K
$238.1K – $317.5K
NOI $19,051 @ 7.0% cap · market cap 9.08%
Second Best
Apartment 5plus
$250.7K
$219.4K – $292.5K
NOI $17,548 @ 7.0% cap · market cap 8.36%
Theoretical Best
Office A
$461.7K
$404.0K – $538.7K
NOI $32,321 @ 7.0% cap · market cap 15.40%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
2
Residential units
100%
Occupancy
Location Intelligence
Trade Area within ½ mile
937
Businesses Nearby
Explore this area
Business Placement
Demographics for 14210, NY
15,480
Population
7,813
Households
2
Avg Household Size
36
Median Age
19%
College-Educated
85%
High-School Grad
3.1 sq mi
ZIP Area
4,994
Density / Sq Mi
$51,059
Median Household Income
$31,652
Median Earnings
$925
Median Rent
$124,300
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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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 - Fully occupied two-unit property with updated lower-level finishes and established tenancy.
Where is this duplex located?
The property is located at 15 Parkview Avenue Buffalo, NY.
What is the asking price?
The asking price for this property is $209,900.
What are key features of this property?
This property features: Two‑unit property with approximately 1,920 square feet; Each apartment includes 3 bedrooms and 1 full bathroom; Fully occupied with established tenancy
