Duplex with Detached
New
For Sale
$234,900
153 Fisher Street, Buffalo, NY 14215
Vacant duplex offering separate utilities, a detached garage, and flexible owner-occupant or investment use.
Property Size1,737 SF
Days on Market6
Property Features for 153 Fisher Street
General Information
Standard status
Active
Size
1,737 SF
Total Parking Spaces
2
Property subtype
Multi Family
Units
Unit Mix
2 x 2BR/1BA
Multifamily Units
2
Additional Details
Utilities to Site
Yes
Taxes and HOA fees
Annual Taxes
$1,396
Building Details
Building Size
1,737 SF
Year Built
1925
Listing Agency:
Keller Williams Realty WNY
(716) 946-2700
Listed By:
Syed J Rizvi · License #10401279412
(716) 946-2700
Source:
Highfallssir
Added: Aug 19
Changed: Aug 22
Last Checked: Aug 24 at 2:01PM
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 Keller Williams Realty WNY
Investment Insights
Based on property information with market context.
Built in 1925, this vacant duplex contains two separate residential units with distinct layouts. The lower residence includes two bedrooms, one full bath, a combined living and dining area, and an additional sunroom. Upstairs, the second unit provides two bedrooms, one full bath, and a living room. Separate electric service with circuit breakers supports each unit independently.
Exterior features include a wide driveway and a detached two-car garage. The property also has a high basement with a solid foundation. Located at 153 Fisher Street in Buffalo, NY 14215, the building can accommodate either an owner-occupant arrangement or an income-producing use.
Exterior features include a wide driveway and a detached two-car garage. The property also has a high basement with a solid foundation. Located at 153 Fisher Street in Buffalo, NY 14215, the building can accommodate either an owner-occupant arrangement or an income-producing use.
Key Highlights
- Two‑unit duplex at 153 Fisher Street, Buffalo, NY 14215
- Each unit includes 2 bedrooms and 1 full bath
- Lower unit features a living‑dining combination and bonus sunroom
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
$17,235
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
7.34%
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%
$344,700
$344.7K
Cap Rate 7%
$246,214
$246.2K
Cap Rate 9%
$191,500
$191.5K
Market Conditions
NOI Build-Up for 1,737 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
$26.1K $15.00/SF
− Vacancy
−$1.4K −$0.83/SF
EGI
$24.6K $14.17/SF
− OpEx
−$7.4K −$4.25/SF
NOI
$17.2K $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%
$344,700
Cap Rate 7%
$246,214
Cap Rate 9%
$191,500
Alternative Uses
Best Use
Multifamily LT 5
$246.2K
$215.4K – $287.3K
NOI $17,235 @ 7.0% cap · market cap 7.34%
Second Best
Apartment 5plus
$226.8K
$198.4K – $264.6K
NOI $15,875 @ 7.0% cap · market cap 6.76%
Theoretical Best
Office A
$417.7K
$365.5K – $487.3K
NOI $29,240 @ 7.0% cap · market cap 12.45%
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
451
Businesses Nearby
Explore this area
Business Placement
Demographics for 14215, NY
42,447
Population
19,203
Households
2.2
Avg Household Size
33
Median Age
19%
College-Educated
87%
High-School Grad
4.8 sq mi
ZIP Area
8,843
Density / Sq Mi
$43,326
Median Household Income
$29,204
Median Earnings
$993
Median Rent
$102,800
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 - Vacant duplex offering separate utilities, a detached garage, and flexible owner-occupant or investment use.
Where is this duplex located?
The property is located at 153 Fisher Street Buffalo, NY.
What is the asking price?
The asking price for this property is $234,900.
What are key features of this property?
This property features: Two‑unit duplex at 153 Fisher Street, Buffalo, NY 14215; Each unit includes 2 bedrooms and 1 full bath; Lower unit features a living‑dining combination and bonus sunroom
