Updated Duplex with Detached
For Sale
$320,000
167 Commonwealth Avenue, Buffalo, NY 14216
Residential, Buffalo, NY
Property Size1,634 SF
Lot Size0.11 Acres
Price / SF$195.84
Days on Market52
Property Features for 167 Commonwealth Avenue
General Information
Property type
Residential Multi Family
Property subtype
Other
Bedrooms
3
Bathrooms
2
Full bathrooms
2
Rooms
Basement, Bathroom 2, Bedroom 2, Bedroom 3, Bedroom 1, Bathroom 1
Patio and Porch features
Porch
Interior features
NaturalWoodwork
Fireplace
1
Appliances
GasWaterHeater
Lot features
Rectangular, Rectangular Lot, Residential Lot
Elementary school district
Buffalo
Middle school district
Buffalo
High school district
Buffalo
Directions
Commonwealth between Hertel and Tacoma
Subdivision
Buffalo City-140200
Standard status
Active
APN
140200-078-640-0003-037-000
Size
1,634 SF
Lot size
0.11 Acres
Taxes and HOA fees
Tax Annual Amount
2785
Utilities
Heating system
Natural Gas, Forced Air
Water source
Public
Building Details
Year built
1918
Floors in Building
2
Number of units
2
Flooring type
Varies, Vinyl
Building materials
BlownInInsulation
Roof type
Asphalt
Architectural style
Other
Listing Agency:
WNYbyOwner.com
Listed By:
Robyn Sansone · License #10491209960
(716) 523-8508
Added: Jul 23
Changed: Sep 11
Last Checked: Sep 12 at 12:06PM
MLS# B1701102
Copyright © 2026 New York State Alliance of MLSs, LLC. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This 1918 duplex contains two residential units within a 1,634-square-foot property on 0.1117 acres. The upper unit offers two bedrooms and a bonus sunroom, while the lower unit includes one bedroom with built-in closet space. Both kitchens have granite countertops and updated appliances, and the bathrooms include refreshed vanities. Vinyl flooring, updated electrical, PEX plumbing, and a 2023 hot water tank add to the property’s recent improvements.
A basement provides laundry and storage, with a Samsung washer and dryer included. Exterior features include a porch, yard, and detached two-car garage. The property is served by public water and natural gas forced-air heating and is located near Hertel Avenue’s restaurants, shops, cafes, and neighborhood businesses in Buffalo’s 14216 area.
A basement provides laundry and storage, with a Samsung washer and dryer included. Exterior features include a porch, yard, and detached two-car garage. The property is served by public water and natural gas forced-air heating and is located near Hertel Avenue’s restaurants, shops, cafes, and neighborhood businesses in Buffalo’s 14216 area.
Key Highlights
- Two‑unit duplex with 1,634 square feet of property size
- Upper unit includes 2 bedrooms plus a bonus sunroom
- Lower unit features 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
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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
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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 residential units feature refreshed kitchens, updated baths, private living areas, and shared basement laundry and storage.
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: Two‑unit duplex with 1,634 square feet of property size; Upper unit includes 2 bedrooms plus a bonus sunroom; Lower unit features 1 bedroom with built‑in closet
