Updated Two-Family
For Sale
$299,900
Pending
162 HARVARD PL, Buffalo, NY 14209
Recently updated two-family home with remodeled kitchens, updated baths, and refreshed interior and exterior mechanics.
Property Size1,996 SF
Days on Market316
Property Features for 162 HARVARD PL
General Information
Standard status
Pending
Size
1,996 SF
Property subtype
Multi-Family
Additional Details
Multifamily Units
2
Taxes and HOA fees
Annual Taxes
$4,344
Amenities
Gas
Full
3
Hardwood, Ceramic Tile, Vinyl
Cable Available
Asphalt
Full, Partial
Parking. Fenced Yard.
On Street.
Vinyl
Rectangular
30X60
City Road, Rectangular.
Building Details
Year Built
1910
Listing Agency:
HUNT Real Estate Corporation
(716) 681-3900
Listed By:
William Severyn
(716) 818-0207
Source:
Xome
Added: Oct 28, 2025
Changed: Sep 1
Last Checked: Sep 8 at 4:25AM
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 HUNT Real Estate Corporation
Investment Insights
Based on property information with market context.
This two-family residence has been updated recently throughout. The interior features remodeled kitchens with new cabinets, granite countertops, and updated flooring, paint, and lighting. Bathrooms are totally updated with new fixtures, vanities, tub surrounds, flooring, and lighting. The living and dining areas are open for an efficient entertainment space, and the home also includes updated mechanics and exterior improvements.
The property is located in the Main/Lafayette neighborhood and is close to Downtown, Canisius College, and the Elmwood strip.
Offered for sale as a two-family with recent interior renovations, updated bathrooms, and exterior/mechanical upgrades already completed.
The property is located in the Main/Lafayette neighborhood and is close to Downtown, Canisius College, and the Elmwood strip.
Offered for sale as a two-family with recent interior renovations, updated bathrooms, and exterior/mechanical upgrades already completed.
Key Highlights
- Recently updated two‑family home with remodeled kitchens and updated baths
- Interior updates include new cabinets, granite countertops, refreshed flooring, paint, and lighting
- Baths updated with new fixtures, vanities, tub surrounds, flooring, and lighting
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
$19,805
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
6.60%
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%
$396,100
$396.1K
Cap Rate 7%
$282,929
$282.9K
Cap Rate 9%
$220,056
$220.1K
Market Conditions
NOI Build-Up for 1,996 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
$29.9K $15.00/SF
− Vacancy
−$1.6K −$0.83/SF
EGI
$28.3K $14.17/SF
− OpEx
−$8.5K −$4.25/SF
NOI
$19.8K $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%
$396,100
Cap Rate 7%
$282,929
Cap Rate 9%
$220,056
Alternative Uses
Best Use
Multifamily LT 5
$282.9K
$247.6K – $330.1K
NOI $19,805 @ 7.0% cap · market cap 6.60%
Second Best
Apartment 5plus
$260.6K
$228.0K – $304.0K
NOI $18,242 @ 7.0% cap · market cap 6.08%
Theoretical Best
Office A
$480.0K
$420.0K – $560.0K
NOI $33,600 @ 7.0% cap · market cap 11.20%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
953
Businesses Nearby
Explore this area
Business Placement
Demographics for 14209, NY
8,251
Population
4,729
Households
1.7
Avg Household Size
39
Median Age
46%
College-Educated
90%
High-School Grad
1.0 sq mi
ZIP Area
8,251
Density / Sq Mi
$49,359
Median Household Income
$33,329
Median Earnings
$1,025
Median Rent
$408,600
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 - Recently updated two-family home with remodeled kitchens, updated baths, and refreshed interior and exterior mechanics.
Where is this duplex located?
The property is located at 162 HARVARD PL 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: Recently updated two‑family home with remodeled kitchens and updated baths; Interior updates include new cabinets, granite countertops, refreshed flooring, paint, and lighting; Baths updated with new fixtures, vanities, tub surrounds, flooring, and lighting
