Updated Duplex With Front
For Sale
$249,900
165 Arkansas Street, Buffalo, NY 14213
Two-unit property with recent roof, mechanical, and appliance improvements, delivered vacant at closing.
Property Size2,276 SF
Days on Market17
Property Features for 165 Arkansas Street
General Information
Standard status
Active
Size
2,276 SF
Property subtype
Duplex
Taxes and HOA fees
Annual Taxes
$2,480
Building Details
Building Size
2,276 SF
Year Built
1912
Listing Agency:
Irish Jones Realty
Listed By:
Elizabeth Abelson Reed · License #10401369358
(412) 983-6686
Source:
Highfallssir
Added: Sep 10
Changed: Sep 18
Last Checked: Sep 26 at 12:46PM
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 Irish Jones Realty
Investment Insights
Based on property information with market context.
This Buffalo duplex was built in 1912 and includes a front balcony added in 2024. The property has received multiple recent improvements, including a roof dating to circa 2018, high-efficiency furnaces installed in 2022, and hot water tanks and kitchen and laundry appliances added in 2024. The units also feature cosmetic updates.
Located between the Five Points neighborhood and the Niagara Street revitalization area, the property offers access to nearby bakeries, restaurants, and shops. It will be delivered vacant at closing, supporting either owner occupancy or a new rental strategy. The property has a history of long-term tenancy and established rents.
Located between the Five Points neighborhood and the Niagara Street revitalization area, the property offers access to nearby bakeries, restaurants, and shops. It will be delivered vacant at closing, supporting either owner occupancy or a new rental strategy. The property has a history of long-term tenancy and established rents.
Key Highlights
- Duplex built in 1912
- Front balcony added in 2024
- Roof dates to circa 2018
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
$22,584
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
9.04%
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%
$451,680
$451.7K
Cap Rate 7%
$322,629
$322.6K
Cap Rate 9%
$250,933
$250.9K
Market Conditions
NOI Build-Up for 2,276 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
$34.1K $15.00/SF
− Vacancy
−$1.9K −$0.83/SF
EGI
$32.3K $14.17/SF
− OpEx
−$9.7K −$4.25/SF
NOI
$22.6K $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%
$451,680
Cap Rate 7%
$322,629
Cap Rate 9%
$250,933
Alternative Uses
Best Use
Multifamily LT 5
$322.6K
$282.3K – $376.4K
NOI $22,584 @ 7.0% cap · market cap 9.04%
Second Best
Apartment 5plus
$297.2K
$260.0K – $346.7K
NOI $20,801 @ 7.0% cap · market cap 8.32%
Theoretical Best
Office A
$547.3K
$478.9K – $638.6K
NOI $38,313 @ 7.0% cap · market cap 15.33%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
1,134
Businesses Nearby
Explore this area
Business Placement
Demographics for 14213, NY
25,834
Population
11,397
Households
2.3
Avg Household Size
30
Median Age
36%
College-Educated
81%
High-School Grad
1.9 sq mi
ZIP Area
13,597
Density / Sq Mi
$52,597
Median Household Income
$36,084
Median Earnings
$1,059
Median Rent
$192,300
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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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-unit property with recent roof, mechanical, and appliance improvements, delivered vacant at closing.
Where is this duplex located?
The property is located at 165 Arkansas Street Buffalo, NY.
What is the asking price?
The asking price for this property is $249,900.
What are key features of this property?
This property features: Duplex built in 1912; Front balcony added in 2024; Roof dates to circa 2018
