Renovated Two-Unit
New
For Sale
$389,900
193 14th Street, Buffalo, NY 14213
Residential, Buffalo, NY
Property Size2,040 SF
Lot Size0.07 Acres
Price / SF$191.13
Days on Market4
Property Features for 193 14th Street
General Information
Property type
Residential Multi Family
Property subtype
Other
Bedrooms
4
Bathrooms
2
Full bathrooms
2
Rooms
Bedroom 1, Basement, Bedroom 4, Bathroom 1, Bedroom 2, Bathroom 2, Bedroom 3
Patio and Porch features
Porch
Interior features
CeilingFans
Appliances
GasWaterHeater
Subdivision
Black Rock
Lot features
Near Public Transit, Rectangular, Rectangular Lot, Residential Lot
Elementary school district
Buffalo
Middle school district
Buffalo
High school district
Buffalo
Standard status
Active
APN
140200-099-600-0009-024-000
Size
2,040 SF
Lot size
0.07 Acres
Taxes and HOA fees
Tax Annual Amount
3261
Utilities
Heating system
Natural Gas, Forced Air
Water source
Public
Amenities
in-basement laundry
extra storage
locked outdoor shed
garden with solar lighting
Building Details
Year built
1850
Floors in Building
2
Number of units
2
Flooring type
Varies, Tile, Hardwood
Building materials
VinylSiding
Roof type
Shingle
Architectural style
Other
Listing Agency:
Keller Williams Realty WNY
(716) 832-3300
Listed By:
John Santora III · License #10401291249
(716) 908-4304
Added: Aug 25
Last Checked: Aug 28 at 9:06PM
MLS# B1709514
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 two-unit duplex contains 2,040 square feet on a 0.0707-acre lot, with one two-bedroom apartment above another. Both residences have renovated kitchens with islands, quartz countertops, custom cabinetry, and new appliances, along with updated bathrooms featuring walk-in glass showers and tile finishes. Hardwood flooring remains in the living areas, complemented by luxury vinyl in the kitchens and ceramic tile in the bathrooms.
Major property improvements include a new tear-off shingle roof with a transferable warranty, roughly 90% new windows, replacement exterior doors, refreshed facade paint, and a sealed driveway with parking for two vehicles. Each apartment is separately metered for gas and electric and includes private basement laundry, additional storage, and access to a locked outdoor shed. The property also has public water, forced-air natural gas heat, vinyl siding, and a porch.
The duplex is located near D'Youville University, downtown Buffalo, the medical corridor, Allen Street, and Elmwood Village. It was built in 1850 and retains original hardwood and other period character alongside the recent updates.
Major property improvements include a new tear-off shingle roof with a transferable warranty, roughly 90% new windows, replacement exterior doors, refreshed facade paint, and a sealed driveway with parking for two vehicles. Each apartment is separately metered for gas and electric and includes private basement laundry, additional storage, and access to a locked outdoor shed. The property also has public water, forced-air natural gas heat, vinyl siding, and a porch.
The duplex is located near D'Youville University, downtown Buffalo, the medical corridor, Allen Street, and Elmwood Village. It was built in 1850 and retains original hardwood and other period character alongside the recent updates.
Key Highlights
- Two‑unit duplex with 2,040 square feet on a 0.0707‑acre lot
- Each apartment includes 2 bedrooms, updated kitchen and bathroom finishes
- Roughly 90% new windows plus a new tear‑off shingle 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
Property Profile
Current Use
Lease Details
2
Residential units
Yes
Utilities to site
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
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 apartments feature updated kitchens, spa-style bathrooms, private laundry, and separate gas and electric metering.
Where is this duplex located?
The property is located at 193 14th Street 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: Two‑unit duplex with 2,040 square feet on a 0.0707‑acre lot; Each apartment includes 2 bedrooms, updated kitchen and bathroom finishes; Roughly 90% new windows plus a new tear‑off shingle roof with transferable warranty
