Renovated Two-Unit
New
For Sale
$389,900
193 14th St, Buffalo, NY 14213
Updated duplex with separate utilities, private laundry, basement storage, and two off-street parking spaces.
Property Size2,040 SF
Price / SF$191.13
Days on Market7
Property Features for 193 14th St
General Information
Standard status
Active
Size
2,040 SF
Property subtype
Multi-Family
Building Details
Year Built
1850
Listing Agency:
Keller Williams Realty WNY
Listed By:
John Santora III · License #10401291249
(716) 908-4304
Source:
Skinnercnyrealty
Added: Sep 16
Changed: Sep 17
Last Checked: Sep 22 at 7:08PM
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
Investment Insights
Based on property information with market context.
This two-unit duplex at 193 14th St has 2,040 square feet and was built in 1850. The property has undergone extensive renovation, including updated kitchens with islands, quartz countertops, custom cabinetry, and new appliances. Bathrooms feature walk-in glass showers, subway tile, new vanities, and ceramic tile flooring. Original hardwood remains in the living areas, complemented by new flooring in the kitchens and refreshed walls and ceilings.
Major exterior and building improvements include a new tear-off roof with transferable warranty, approximately 90% new windows, new exterior doors, facade paint, and a sealed driveway. Each apartment is separately metered for electric and gas. Additional features include private basement laundry, extra storage, a locked outdoor shed, garden improvements with solar lighting, and parking for two vehicles. The property is steps from D’Youville University and minutes from downtown Buffalo, the medical corridor, Allen Street, and Elmwood Village.
Major exterior and building improvements include a new tear-off roof with transferable warranty, approximately 90% new windows, new exterior doors, facade paint, and a sealed driveway. Each apartment is separately metered for electric and gas. Additional features include private basement laundry, extra storage, a locked outdoor shed, garden improvements with solar lighting, and parking for two vehicles. The property is steps from D’Youville University and minutes from downtown Buffalo, the medical corridor, Allen Street, and Elmwood Village.
Key Highlights
- 2,040‑square‑foot duplex with two separate apartments
- Extensively renovated kitchens with islands, quartz countertops, cabinetry, and new appliances
- New tear‑off roof with transferable warranty
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
$20,242
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
5.19%
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%
$404,840
$404.8K
Cap Rate 7%
$289,171
$289.2K
Cap Rate 9%
$224,911
$224.9K
Market Conditions
NOI Build-Up for 2,040 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
$30.6K $15.00/SF
− Vacancy
−$1.7K −$0.83/SF
EGI
$28.9K $14.17/SF
− OpEx
−$8.7K −$4.25/SF
NOI
$20.2K $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%
$404,840
Cap Rate 7%
$289,171
Cap Rate 9%
$224,911
Alternative Uses
Best Use
Multifamily LT 5
$289.2K
$253.0K – $337.4K
NOI $20,242 @ 7.0% cap · market cap 5.19%
Second Best
Apartment 5plus
$266.3K
$233.1K – $310.7K
NOI $18,644 @ 7.0% cap · market cap 4.78%
Theoretical Best
Office A
$490.6K
$429.3K – $572.4K
NOI $34,341 @ 7.0% cap · market cap 8.81%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Location Intelligence
Trade Area within ½ mile
1,448
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 - Updated duplex with separate utilities, private laundry, basement storage, and two off-street parking spaces.
Where is this duplex located?
The property is located at 193 14th St Buffalo, NY.
What is the asking price?
The asking price for this property is $389,900.
What are key features of this property?
This property features: 2,040‑square‑foot duplex with two separate apartments; Extensively renovated kitchens with islands, quartz countertops, cabinetry, and new appliances; New tear‑off roof with transferable warranty
