Duplex with Two-Car
New
For Sale
$220,000
16 Gates Street, Buffalo, NY 14212
Residential, Buffalo, NY
Property Size1,454 SF
Lot Size0.13 Acres
Price / SF$151.31
Days on Market2
Property Features for 16 Gates Street
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning description
Residential 2 Unit
Bedrooms
5
Bathrooms
2
Full bathrooms
2
Rooms
Bathroom 1, Bedroom 4, Bedroom 5, Bedroom 2, Bathroom 2, Bedroom 3, Bedroom 1
Patio and Porch features
Porch
Interior features
CeilingFans
Exterior features
FullyFenced
Fencing
Fenced
Appliances
GasWaterHeater
Subdivision
Holland Land Company's Su
Lot features
Rectangular, Rectangular Lot, Residential Lot
Elementary school district
Cheektowaga-Sloan
Middle school district
Cheektowaga-Sloan
High school district
Cheektowaga-Sloan
Directions
From Broadway head south on Halstead Ave, then turn left onto Gates St, house is on the left
Standard status
Active
APN
143001-112-360-0003-014-000
Size
1,454 SF
Lot size
0.13 Acres
Taxes and HOA fees
Tax Annual Amount
119260
Utilities
Heating system
Forced Air, Natural Gas
Water source
Public
Amenities
fully fenced yard
covered side porch
Building Details
Year built
1837
Floors in Building
2
Number of units
2
Flooring type
Varies, Carpet
Building materials
FiberCement
Roof type
Shingle
Architectural style
Other
Listing Agency:
WNY Metro Roberts Realty
(716) 662-0449
Listed By:
Mark Bostaph · License #10401217219
(716) 238-2863
Added: Sep 26
Last Checked: Sep 27 at 12:06PM
MLS# B1717317
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 1,454-square-foot duplex contains two units: a three-bedroom lower residence and a two-bedroom upper residence. The upper unit is vacant. The property includes a two-car garage, fenced yard, covered porch, and off-street parking. Built in 1837, the home has a shingle roof approximately four years old, and electrical outlets throughout have been updated.
The 0.13-acre property is described as a double lot, with a park directly across the street.
The 0.13-acre property is described as a double lot, with a park directly across the street.
Key Highlights
- Two‑unit layout with three bedrooms downstairs and two upstairs
- 1,454 square feet on a 0.13‑acre double lot
- Two‑car garage, fenced yard, and off‑street parking
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
$14,427
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
6.56%
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%
$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
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
$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 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%
$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
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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
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Frequently Asked Questions
What type of property is this?
Duplex - The lower residence has three bedrooms, while the upper residence has two and is currently vacant.
Where is this duplex located?
The property is located at 16 Gates Street 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‑unit layout with three bedrooms downstairs and two upstairs; 1,454 square feet on a 0.13‑acre double lot; Two‑car garage, fenced yard, and off‑street parking
