Two-Unit Duplex with Updated
193 Lovering Avenue, Buffalo, NY 14216
For Sale
$390,000
Each residence has three bedrooms, and both units include a washer and dryer.
Property Size2,592 SF
Days on Market15
Property Features for 193 Lovering Avenue
General Information
Standard status
Size
Property subtype
Site & Location
Neighborhood
Units
Unit Mix
Multifamily Units
Additional Details
Tenant in Place
Taxes and HOA fees
Annual Taxes
Amenities
fireplace
deck
covered front porch
washer and dryer
Building Details
Building Size
Year Built
Listing Agency:
Howard Hanna WNY Inc.
Listed By:
Dana M David · License NY #10401211343
(716) 698-9644
Source:
Highfallssir
Added: Oct 27
Changed: Nov 7
Last Checked: Nov 8 at 11:27AM
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 Howard Hanna WNY Inc.
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Investment Insights
Based on property information with market context.
Built in 1926, this duplex contains two three-bedroom residences. The lower unit has an enlarged living room with a fireplace, refinished hardwood floors, a remodeled kitchen with stainless steel appliances, and a bathroom with a tiled surround. The upper residence has an updated kitchen and a covered front porch. Replacement windows, some newer exterior doors, updated furnaces, water heaters, and electrical panels are among the property’s improvements. Appliances are included, with a washer and dryer for each unit.
The property includes a backyard deck, a 2.5-car garage, and off-street parking. A spacious attic provides additional space. Restaurants and shops along Hertel are a short walk away.
The property includes a backyard deck, a 2.5-car garage, and off-street parking. A spacious attic provides additional space. Restaurants and shops along Hertel are a short walk away.
Key Highlights
- Two residences, each with three bedrooms
- Lower unit features a remodeled kitchen, refinished hardwood floors, and a living‑room fireplace
- Upper residence has an updated kitchen and covered front porch
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$25,719
Cap Rate
6.59%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$514,380
$514.4K
Cap Rate 7%
$367,414
$367.4K
Cap Rate 9%
$285,767
$285.8K
Market Conditions
NOI Build-Up for 2,592 SF
Gross rent
$38.9K $15.00/SF
− Vacancy
−$2.1K −$0.83/SF
EGI
$36.7K $14.17/SF
− OpEx
−$11.0K −$4.25/SF
NOI
$25.7K $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 Rate 5%
$514,380
Cap Rate 7%
$367,414
Cap Rate 9%
$285,767
Alternative Uses
Best Use
Multifamily LT 5
$367.4K
$321.5K – $428.7K
NOI $25,719 @ 7.0% cap · market cap 6.59%
Second Best
Apartment 5plus
$338.4K
$296.1K – $394.8K
NOI $23,689 @ 7.0% cap · market cap 6.07%
Theoretical Best
Office A
$623.3K
$545.4K – $727.2K
NOI $43,633 @ 7.0% cap · market cap 11.19%
Zoning and permitted uses should be independently verified with authorities.
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Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
1,224
Businesses Nearby
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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
$260,700
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Average Price Trend$/SF for Duplexes in Buffalo, NY
Properties on Market for Duplexes in Buffalo
Vacancy Rate% for Multifamily in Northeast region
Frequently Asked Questions
What type of property is this?
Duplex - Each residence has three bedrooms, and both units include a washer and dryer.
Where is this duplex located?
The property is located at 193 Lovering Avenue Buffalo, NY.
What is the asking price?
The asking price for this property is $390,000.
What are key features of this property?
This property features: Two residences, each with three bedrooms; Lower unit features a remodeled kitchen, refinished hardwood floors, and a living‑room fireplace; Upper residence has an updated kitchen and covered front porch
