Duplex with Two-Car
For Sale
$220,000
16 Gates St, Buffalo, NY 14212
Two apartments offer a three-bedroom lower unit and a two-bedroom upper unit.
Property Size1,454 SF
Price / SF$151.31
Days on Market8
Property Features for 16 Gates St
General Information
Standard status
Active
Size
1,454 SF
Property subtype
Multi-Family
Units
Unit Mix
1 x 3BR, 1 x 2BR
Multifamily Units
2
Amenities
fully fenced yard
covered side porch
off-street parking
Building Details
Year Built
1837
Listing Agency:
WNY Metro Roberts Realty
Listed By:
Mark Bostaph · License #10401217219
(716) 238-2863
Source:
Skinnercnyrealty
Added: Sep 28
Last Checked: Oct 4 at 2:26PM
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 1,454-square-foot duplex has two apartments: a three-bedroom unit on the lower level and a two-bedroom unit above. The property includes a two-car garage, a covered side porch, off-street parking, and a fully fenced double lot. The roof is approximately 4 years old, and electrical outlets throughout the building have been updated. Built in 1837, the property’s upper apartment is vacant.
A park sits directly across the street from 16 Gates St in Buffalo. The upper apartment was previously rented with water included; no rental amount is included here.
A park sits directly across the street from 16 Gates St in Buffalo. The upper apartment was previously rented with water included; no rental amount is included here.
Key Highlights
- Two units: three bedrooms downstairs and two bedrooms upstairs
- 1,454 square feet; built in 1837
- Two‑car garage and off‑street parking
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$14,427
Cap Rate
6.56%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$288,540
$288.5K
Cap Rate 7%
$206,100
$206.1K
Cap Rate 9%
$160,300
$160.3K
Market Conditions
NOI Build-Up for 1,454 SF
Gross rent
$21.8K $15.00/SF
− Vacancy
−$1.2K −$0.83/SF
EGI
$20.6K $14.17/SF
− OpEx
−$6.2K −$4.25/SF
NOI
$14.4K $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 Rate 5%
$288,540
Cap Rate 7%
$206,100
Cap Rate 9%
$160,300
Alternative Uses
Best Use
Multifamily LT 5
$206.1K
$180.3K – $240.5K
NOI $14,427 @ 7.0% cap · market cap 6.56%
Second Best
Apartment 5plus
$189.8K
$166.1K – $221.5K
NOI $13,289 @ 7.0% cap · market cap 6.04%
Theoretical Best
Office A
$349.7K
$306.0K – $407.9K
NOI $24,476 @ 7.0% cap · market cap 11.13%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Unlock full access to Insights
Subscribe to Realmo Intelligence
Open Analytics
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
322
Businesses Nearby
Explore this area
Business Placement
Demographics for 14212, NY
13,533
Population
5,935
Households
2.3
Avg Household Size
32
Median Age
11%
College-Educated
76%
High-School Grad
2.1 sq mi
ZIP Area
6,444
Density / Sq Mi
$35,517
Median Household Income
$26,545
Median Earnings
$829
Median Rent
$89,900
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Multifamily in Northeast region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Duplex - Two apartments offer a three-bedroom lower unit and a two-bedroom upper unit.
Where is this duplex located?
The property is located at 16 Gates St Buffalo, NY.
What is the asking price?
The asking price for this property is $220,000.
What are key features of this property?
This property features: Two units: three bedrooms downstairs and two bedrooms upstairs; 1,454 square feet; built in 1837; Two‑car garage and off‑street parking
