Updated Duplex with Detached
For Sale
$320,000
167 Commonwealth Avenue, Buffalo, NY 14216
Two residential units offer refreshed kitchens, basement laundry, storage, and a private yard.
Property Size1,634 SF
Days on Market33
Property Features for 167 Commonwealth Avenue
General Information
Standard status
Active
Size
1,634 SF
Total Parking Spaces
2
Property subtype
Multi Family
Units
Unit Mix
1 x 2BR (upper), 1 x 1BR (lower)
Multifamily Units
2
Taxes and HOA fees
Annual Taxes
$2,785
Amenities
laundry
yard
Building Details
Building Size
1,634 SF
Year Built
1918
Buildings
1
Construction
bungalow
Listing Agency:
WNYbyOwner.com
(716) 523-8508
Listed By:
Robyn Sansone · License #10491209960
(716) 523-8508
Source:
Highfallssir
Added: Jul 23
Changed: Aug 24
Last Checked: Aug 24 at 12:52PM
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 WNYbyOwner.com
Investment Insights
Based on property information with market context.
This 1918 duplex contains two residential units with distinct layouts. The upper apartment includes two bedrooms and a bonus sunroom, while the lower apartment offers one bedroom with built-in closet storage. Both kitchens have granite countertops and updated appliances, and the bathrooms include refreshed vanities; the upper bathroom also has new tile flooring. Property improvements include updated whole-house electrical service, PEX plumbing, a 2023 hot water tank, vinyl flooring throughout, and exterior painting completed in 2024.
The basement provides laundry facilities with a newer Samsung washer and dryer, along with additional storage. Outside, the property includes a yard and a detached two-car garage. The home is near Hertel Avenue, with restaurants, shops, cafes, and other neighborhood businesses nearby.
The basement provides laundry facilities with a newer Samsung washer and dryer, along with additional storage. Outside, the property includes a yard and a detached two-car garage. The home is near Hertel Avenue, with restaurants, shops, cafes, and other neighborhood businesses nearby.
Key Highlights
- Duplex with two separate residential units
- Upper unit has 2 bedrooms plus a bonus sunroom
- Lower unit includes 1 bedroom with built‑in closet
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
$16,213
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
5.07%
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%
$324,260
$324.3K
Cap Rate 7%
$231,614
$231.6K
Cap Rate 9%
$180,144
$180.1K
Market Conditions
NOI Build-Up for 1,634 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
$24.5K $15.00/SF
− Vacancy
−$1.3K −$0.83/SF
EGI
$23.2K $14.17/SF
− OpEx
−$6.9K −$4.25/SF
NOI
$16.2K $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%
$324,260
Cap Rate 7%
$231,614
Cap Rate 9%
$180,144
Alternative Uses
Best Use
Multifamily LT 5
$231.6K
$202.7K – $270.2K
NOI $16,213 @ 7.0% cap · market cap 5.07%
Second Best
Apartment 5plus
$213.3K
$186.7K – $248.9K
NOI $14,934 @ 7.0% cap · market cap 4.67%
Theoretical Best
Office A
$392.9K
$343.8K – $458.4K
NOI $27,506 @ 7.0% cap · market cap 8.60%
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
1,033
Businesses Nearby
Explore this area
Business Placement
Demographics for 14216, NY
22,979
Population
12,773
Households
1.8
Avg Household Size
37
Median Age
54%
College-Educated
94%
High-School Grad
2.8 sq mi
ZIP Area
8,207
Density / Sq Mi
$70,260
Median Household Income
$47,823
Median Earnings
$1,152
Median Rent
$260,700
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 - Two residential units offer refreshed kitchens, basement laundry, storage, and a private yard.
Where is this duplex located?
The property is located at 167 Commonwealth Avenue Buffalo, NY.
What is the asking price?
The asking price for this property is $320,000.
What are key features of this property?
This property features: Duplex with two separate residential units; Upper unit has 2 bedrooms plus a bonus sunroom; Lower unit includes 1 bedroom with built‑in closet
