Renovated Two-Family
New
For Sale
$209,900
15 Parkview Avenue, Buffalo, NY 14210
Residential, Buffalo, NY
Property Size1,920 SF
Lot Size0.12 Acres
Price / SF$109.32
Days on Market5
Property Features for 15 Parkview Avenue
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Bedrooms
6
Bathrooms
2
Full bathrooms
2
Rooms
Bedroom 3, Bedroom 4, Bedroom 6, Basement, Bathroom 1, Bathroom 2, Bedroom 5, Bedroom 2, Bedroom 1
Appliances
GasWaterHeater
Subdivision
Buffalo Crk Reservation
Lot features
Near Public Transit, Rectangular, Rectangular Lot, Residential Lot
Elementary school district
Buffalo
Middle school district
Buffalo
High school district
Buffalo
Directions
Mapquest
Standard status
Active
APN
140200-133-260-0001-011-000
Size
1,920 SF
Lot size
0.12 Acres
Taxes and HOA fees
Tax Annual Amount
2084
Utilities
Heating system
Natural Gas, Forced Air
Water source
Public
Building Details
Year built
1920
Floors in Building
2
Number of units
2
Flooring type
Vinyl, Varies, Laminate
Building materials
VinylSiding
Architectural style
Other
Listing Agency:
WNY Metro Roberts Realty
(716) 559-9972
Listed By:
Gina Calamita · License #10401355676
(716) 536-6229
Added: Sep 18
Changed: Sep 19
Last Checked: Sep 22 at 4:06PM
MLS# B1715717
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-family duplex contains approximately 1,920 square feet with two units, each arranged with 3 bedrooms and 1 full bath. The lower apartment has received substantial updates, including a remodeled kitchen, new flooring, fresh paint, new doors, replacement glass in three windows, and toilet plumbing improvements. The property also has new gutters with leaf guards, vinyl siding, a basement, and a mix of vinyl and laminate flooring. Heating is provided by forced air using natural gas, with a public water supply.
Built in 1920, the property occupies 0.1164 acres at 15 Parkview Avenue in Buffalo, NY 14210. It is fully occupied and positioned near the Buffalo and Erie County Botanical Gardens, Cazenovia Park, shopping, dining, and major routes. The two units together provide 6 bedrooms and 2 bathrooms, supporting its use as a residential income property. Showings require a minimum of 24 hours' notice.
Built in 1920, the property occupies 0.1164 acres at 15 Parkview Avenue in Buffalo, NY 14210. It is fully occupied and positioned near the Buffalo and Erie County Botanical Gardens, Cazenovia Park, shopping, dining, and major routes. The two units together provide 6 bedrooms and 2 bathrooms, supporting its use as a residential income property. Showings require a minimum of 24 hours' notice.
Key Highlights
- Two‑family duplex with approximately 1,920 square feet
- Two units, each with 3 bedrooms and 1 full bath
- Fully occupied with 6 bedrooms and 2 bathrooms overall
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 residential income property with two three-bedroom units and natural-gas forced-air heating.
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‑family duplex with approximately 1,920 square feet; Two units, each with 3 bedrooms and 1 full bath; Fully occupied with 6 bedrooms and 2 bathrooms overall
