Renovated Duplex with
For Sale
$189,900
Pending
161 Norman Avenue, Buffalo, NY 14210
Two-unit property with basement access, one vacant unit, and one month-to-month tenancy.
Property Size1,622 SF
Days on Market99
Property Features for 161 Norman Avenue
General Information
Standard status
Pending
Size
1,622 SF
Property subtype
Multi Family
Units
Unit Mix
1 x 2BR, 1 x 1BR
Multifamily Units
2
Additional Details
Utilities to Site
Yes
Taxes and HOA fees
Annual Taxes
$2,171
Amenities
laundry connections
in-unit laundry
Building Details
Building Size
1,622 SF
Year Built
1955
Buildings
1
Listing Agency:
Keller Williams Realty WNY
Listed By:
John M Capriotto · License #10401375313
(716) 603-7072
Source:
Highfallssir
Added: Jul 12
Changed: Oct 16
Last Checked: Oct 16 at 4:30PM
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
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Investment Insights
Based on property information with market context.
Renovated duplex built in 1955 with a two-bedroom lower residence and a one-bedroom upper residence. The lower unit includes access to a full basement with laundry connections, while the upper unit has laundry within the apartment. The lower residence is vacant, and the upper residence is occupied on a month-to-month arrangement. Water is included under the current tenancy.
The property is located on Norman Avenue in Buffalo, within walking distance of stores, restaurants, and Cazenovia Park. Its two-unit layout, varied laundry setup, basement access, and current occupancy configuration provide a clear overview of the existing improvements and operating status.
The property is located on Norman Avenue in Buffalo, within walking distance of stores, restaurants, and Cazenovia Park. Its two-unit layout, varied laundry setup, basement access, and current occupancy configuration provide a clear overview of the existing improvements and operating status.
Key Highlights
- Renovated duplex with 2 residential units
- Lower unit offers 2 bedrooms and access to a full basement
- Upper unit includes 1 bedroom and in‑unit laundry
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$16,094
Cap Rate
8.47%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$321,880
$321.9K
Cap Rate 7%
$229,914
$229.9K
Cap Rate 9%
$178,822
$178.8K
Market Conditions
NOI Build-Up for 1,622 SF
Gross rent
$24.3K $15.00/SF
− Vacancy
−$1.3K −$0.83/SF
EGI
$23.0K $14.17/SF
− OpEx
−$6.9K −$4.25/SF
NOI
$16.1K $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%
$321,880
Cap Rate 7%
$229,914
Cap Rate 9%
$178,822
Alternative Uses
Best Use
Multifamily LT 5
$229.9K
$201.2K – $268.2K
NOI $16,094 @ 7.0% cap · market cap 8.47%
Second Best
Apartment 5plus
$211.8K
$185.3K – $247.1K
NOI $14,824 @ 7.0% cap · market cap 7.81%
Theoretical Best
Office A
$390.1K
$341.3K – $455.1K
NOI $27,304 @ 7.0% cap · market cap 14.38%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Current Use
Lease Details
2
Residential units
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
502
Businesses Nearby
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Business Placement
Demographics for 14210, NY
15,480
Population
7,813
Households
2
Avg Household Size
36
Median Age
19%
College-Educated
85%
High-School Grad
3.1 sq mi
ZIP Area
4,994
Density / Sq Mi
$51,059
Median Household Income
$31,652
Median Earnings
$925
Median Rent
$124,300
Median Home Value
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Market
Vacancy Rate% for Multifamily in Northeast region
Frequently Asked Questions
What type of property is this?
Duplex - Two-unit property with basement access, one vacant unit, and one month-to-month tenancy.
Where is this duplex located?
The property is located at 161 Norman Avenue Buffalo, NY.
What is the asking price?
The asking price for this property is $189,900.
What are key features of this property?
This property features: Renovated duplex with 2 residential units; Lower unit offers 2 bedrooms and access to a full basement; Upper unit includes 1 bedroom and in‑unit laundry
