Updated Two-Unit
For Sale
$319,000
Pending
1960 Genesee Street, Buffalo, NY 14211
Residential, Buffalo, NY
Property Size2,200 SF
Lot Size0.08 Acres
Days on Market145
Property Features for 1960 Genesee Street
General Information
Property type
Residential Multi Family
Property subtype
Other
Bedrooms
5
Bathrooms
3
Full bathrooms
3
Rooms
Bedroom 5, Bedroom 1, Bathroom 2, Bathroom 1, Bedroom 3, Bedroom 4, Bedroom 2, Basement, Bathroom 3
Appliances
GasWaterHeater
Lot features
Near Public Transit, Rectangular, Rectangular Lot, Residential Lot
Elementary school district
Buffalo
Middle school district
Buffalo
High school district
Buffalo
Subdivision
Buffalo City-140200
Standard status
Pending
APN
140200-101-410-0003-022-000
Size
2,200 SF
Lot size
0.08 Acres
Taxes and HOA fees
Tax Annual Amount
1261
Utilities
Heating system
Forced Air, Natural Gas
Water source
Public
Building Details
Year built
1954
Floors in Building
2
Number of units
2
Flooring type
Varies, Hardwood, Tile
Building materials
VinylSiding
Listing Agency:
Keller Williams Realty WNY
(716) 832-3300
Listed By:
Shirajum Monira · License #10401363530
(929) 326-4912
Added: Apr 2
Changed: Aug 22
Last Checked: Aug 24 at 9:06PM
MLS# B1670867
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 at 1960 Genesee Street contains 2,200 square feet and was built in 1954. The first-floor apartment includes two bedrooms, one full bathroom, a living room, dining room, and kitchen with an eat-in area. The upper apartment provides three bedrooms, two full bathrooms, and an eat-in kitchen. Both units have fresh paint, updated lighting, and renovated bathrooms. Hardwood and tile flooring are present throughout the property, with additional basement storage.
The property is served by public water and heated by a natural-gas forced-air system. Outdoor space includes a backyard suitable for gardening, recreation, or general use. Its Buffalo location places the duplex near shopping, public transportation, and everyday amenities.
The property is served by public water and heated by a natural-gas forced-air system. Outdoor space includes a backyard suitable for gardening, recreation, or general use. Its Buffalo location places the duplex near shopping, public transportation, and everyday amenities.
Key Highlights
- Two‑unit duplex with 2,200 square feet of total property size
- First‑floor unit offers 2 bedrooms and 1 full bathroom
- Second‑floor unit includes 3 bedrooms and 2 full bathrooms
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
$21,830
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
6.84%
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%
$436,600
$436.6K
Cap Rate 7%
$311,857
$311.9K
Cap Rate 9%
$242,556
$242.6K
Market Conditions
NOI Build-Up for 2,200 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
$33.0K $15.00/SF
− Vacancy
−$1.8K −$0.83/SF
EGI
$31.2K $14.17/SF
− OpEx
−$9.4K −$4.25/SF
NOI
$21.8K $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%
$436,600
Cap Rate 7%
$311,857
Cap Rate 9%
$242,556
Alternative Uses
Best Use
Multifamily LT 5
$311.9K
$272.9K – $363.8K
NOI $21,830 @ 7.0% cap · market cap 6.84%
Second Best
Apartment 5plus
$287.2K
$251.3K – $335.1K
NOI $20,107 @ 7.0% cap · market cap 6.30%
Theoretical Best
Office A
$529.1K
$462.9K – $617.2K
NOI $37,034 @ 7.0% cap · market cap 11.61%
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
654
Businesses Nearby
Explore this area
Business Placement
Demographics for 14211, NY
26,449
Population
11,498
Households
2.3
Avg Household Size
32
Median Age
15%
College-Educated
84%
High-School Grad
3.9 sq mi
ZIP Area
6,782
Density / Sq Mi
$34,490
Median Household Income
$30,705
Median Earnings
$1,008
Median Rent
$91,600
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 - Solid two-family residence with renovated bathrooms, separate living spaces, and a backyard near shopping and public transportation.
Where is this duplex located?
The property is located at 1960 Genesee Street Buffalo, NY.
What is the asking price?
The asking price for this property is $319,000.
What are key features of this property?
This property features: Two‑unit duplex with 2,200 square feet of total property size; First‑floor unit offers 2 bedrooms and 1 full bathroom; Second‑floor unit includes 3 bedrooms and 2 full bathrooms
