Two-Unit Duplex with
New
For Sale
$299,900
160 Hamilton Dr, Buffalo, NY 14226
Two spacious apartments include sunrooms, hardwood floors, and formal living and dining rooms.
Property Size2,410 SF
Price / SF$124.44
Days on Market3
Property Features for 160 Hamilton Dr
General Information
Standard status
Active
Size
2,410 SF
Property subtype
Multi-Family
Units
Unit Mix
2 x 3BR
Multifamily Units
2
Building Details
Year Built
1931
Buildings
1
Listing Agency:
LoVallo Real Estate
Listed By:
Michael Calabrese · License #10301218793
(716) 949-3405
Source:
Thejoshjamesteam
Added: Sep 7
Changed: Sep 8
Last Checked: Sep 8 at 11:54AM
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 LoVallo Real Estate
Investment Insights
Based on property information with market context.
Built in 1931, this 2,410-square-foot duplex contains two three-bedroom apartments, each with formal living and dining rooms plus an additional sunroom. The interiors feature hardwood flooring, natural woodwork, and solid-core doors, providing durable character throughout both units.
The upper apartment is occupied by a long-term tenant, while the lower apartment is vacant and ready for occupancy. Exterior features include parking at the front and rear of the property, along with a detached two-car garage. The property is situated in the Smallwood school district and near Main Street amenities.
The upper apartment is occupied by a long-term tenant, while the lower apartment is vacant and ready for occupancy. Exterior features include parking at the front and rear of the property, along with a detached two-car garage. The property is situated in the Smallwood school district and near Main Street amenities.
Key Highlights
- 2,410‑square‑foot duplex built in 1931
- Two three‑bedroom apartments with formal living and dining rooms
- Bonus sunrooms in both apartments
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
$23,913
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
7.97%
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%
$478,260
$478.3K
Cap Rate 7%
$341,614
$341.6K
Cap Rate 9%
$265,700
$265.7K
Market Conditions
NOI Build-Up for 2,410 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
$36.2K $15.00/SF
− Vacancy
−$2.0K −$0.83/SF
EGI
$34.2K $14.17/SF
− OpEx
−$10.2K −$4.25/SF
NOI
$23.9K $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%
$478,260
Cap Rate 7%
$341,614
Cap Rate 9%
$265,700
Alternative Uses
Best Use
Multifamily LT 5
$341.6K
$298.9K – $398.6K
NOI $23,913 @ 7.0% cap · market cap 7.97%
Second Best
Apartment 5plus
$314.7K
$275.3K – $367.1K
NOI $22,026 @ 7.0% cap · market cap 7.34%
Theoretical Best
Office A
$579.6K
$507.1K – $676.2K
NOI $40,569 @ 7.0% cap · market cap 13.53%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
516
Businesses Nearby
Explore this area
Business Placement
Demographics for 14226, NY
29,861
Population
13,282
Households
2.2
Avg Household Size
38
Median Age
57%
College-Educated
95%
High-School Grad
6.9 sq mi
ZIP Area
4,328
Density / Sq Mi
$83,023
Median Household Income
$48,994
Median Earnings
$1,093
Median Rent
$237,500
Median Home Value
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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 - Two spacious apartments include sunrooms, hardwood floors, and formal living and dining rooms.
Where is this duplex located?
The property is located at 160 Hamilton Dr 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: 2,410‑square‑foot duplex built in 1931; Two three‑bedroom apartments with formal living and dining rooms; Bonus sunrooms in both apartments
