Updated Duplex with Two-Car
For Sale
$299,900
1565 Wehrle Drive, Buffalo, NY 14221
Two two-bedroom units feature practical layouts, hardwood floors, and access to a clean, dry basement.
Property Size1,502 SF
Days on Market12
Property Features for 1565 Wehrle Drive
General Information
Standard status
Active
Size
1,502 SF
Property subtype
Multi Family Home
Taxes and HOA fees
Annual Taxes
$5,479
Building Details
Building Size
1,502 SF
Year Built
1940
Stories
1
Units
2
Listing Agency:
WNY Metro Roberts Realty
(970) 218-2465
Listed By:
Frank Ungaro · License #10401328160
(970) 218-2465
Source:
Homeprocny
Added: Aug 18
Changed: Aug 28
Last Checked: Aug 28 at 11:29AM
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.
Built in 1940, this two-family property includes two separate units, each with 2 bedrooms and 1 full bath. Interior details include hardwood floors and newer flooring in selected areas. The basement is clean and dry, with washer and dryer hookups, while updated electrical panels support the recent improvements. New furnaces, hot water tanks, and roof were completed in 2025. A backup sump pump is also included.
The exterior offers a fully fenced yard, mature fruit trees, a private driveway, and a detached 2-car garage. Located at 1565 Wehrle Drive in Buffalo, the property is minutes from the Village of Williamsville and provides access to shopping, dining, entertainment, parks, community amenities, the Buffalo Niagara International Airport, Downtown Buffalo, and major roadways.
The exterior offers a fully fenced yard, mature fruit trees, a private driveway, and a detached 2-car garage. Located at 1565 Wehrle Drive in Buffalo, the property is minutes from the Village of Williamsville and provides access to shopping, dining, entertainment, parks, community amenities, the Buffalo Niagara International Airport, Downtown Buffalo, and major roadways.
Key Highlights
- Two‑family layout with 2 bedrooms and 1 full bath in each unit
- New furnaces, hot water tanks, and roof completed in 2025
- Detached 2‑car garage with private driveway
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
$14,904
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
4.97%
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%
$298,080
$298.1K
Cap Rate 7%
$212,914
$212.9K
Cap Rate 9%
$165,600
$165.6K
Market Conditions
NOI Build-Up for 1,502 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
$22.5K $15.00/SF
− Vacancy
−$1.2K −$0.83/SF
EGI
$21.3K $14.17/SF
− OpEx
−$6.4K −$4.25/SF
NOI
$14.9K $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%
$298,080
Cap Rate 7%
$212,914
Cap Rate 9%
$165,600
Alternative Uses
Best Use
Multifamily LT 5
$212.9K
$186.3K – $248.4K
NOI $14,904 @ 7.0% cap · market cap 4.97%
Second Best
Apartment 5plus
$196.1K
$171.6K – $228.8K
NOI $13,727 @ 7.0% cap · market cap 4.58%
Theoretical Best
Office A
$361.2K
$316.1K – $421.4K
NOI $25,284 @ 7.0% cap · market cap 8.43%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
775
Businesses Nearby
Explore this area
Business Placement
Demographics for 14221, NY
55,275
Population
25,281
Households
2.2
Avg Household Size
48
Median Age
57%
College-Educated
96%
High-School Grad
23.4 sq mi
ZIP Area
2,362
Density / Sq Mi
$101,275
Median Household Income
$58,665
Median Earnings
$1,560
Median Rent
$298,500
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 two-bedroom units feature practical layouts, hardwood floors, and access to a clean, dry basement.
Where is this duplex located?
The property is located at 1565 Wehrle Drive Buffalo, NY.
What is the asking price?
The asking price for this property is $299,900.
What are key features of this property?
This property features: Two‑family layout with 2 bedrooms and 1 full bath in each unit; New furnaces, hot water tanks, and roof completed in 2025; Detached 2‑car garage with private driveway
