Two-Family Duplex with Rehabbed Lower
For Sale
$145,000
1967 Niagara Street, Buffalo, NY 14207
Rehabbed lower unit is ready for occupancy or leasing.
Property Size1,364 SF
Lot Size0.08 Acres
Price / SF$106.30
Days on Market8
Property Features for 1967 Niagara Street
General Information
Standard status
Active
Size
1,364 SF
Lot size
0.08 Acres
Property subtype
Multi Family
Site & Location
Highway Access
Yes
Road Access
Yes
Public Transit
Yes
Additional Details
Multifamily Units
2
Taxes and HOA fees
Annual Taxes
$1,031
Building Details
Building Size
1,364 SF
Year Built
1925
Buildings
1
Listing Agency:
Blue Eagle Realty Corp.
Listed By:
Alan Findlay · License #10401299791
(716) 436-1296
Source:
Highfallssir
Added: Aug 26
Changed: Aug 29
Last Checked: Sep 2 at 12:23AM
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 Blue Eagle Realty Corp.
Investment Insights
Based on property information with market context.
Built in 1925, this two-family duplex contains 4 bedrooms and 2 bathrooms across approximately 1,364 square feet of living space. The upper unit is occupied, while the lower unit has been rehabbed and is positioned for a new resident or owner occupancy. The property sits on a 3,267-square-foot lot along Niagara Street in Buffalo’s Black Rock neighborhood.
The location provides access to I-190, Niagara River waterfront areas, Tow Path Park, the Riverwalk, bus lines, dining, and everyday amenities. Downtown Buffalo and the Peace Bridge are also nearby. The property offers a two-unit residential configuration with an existing occupant upstairs and a finished lower unit ready for its next use.
The location provides access to I-190, Niagara River waterfront areas, Tow Path Park, the Riverwalk, bus lines, dining, and everyday amenities. Downtown Buffalo and the Peace Bridge are also nearby. The property offers a two-unit residential configuration with an existing occupant upstairs and a finished lower unit ready for its next use.
Key Highlights
- Two‑family duplex built in 1925
- 4 bedrooms and 2 bathrooms
- Approximately 1,364 square feet of living space
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
$12,466
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
8.60%
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%
$249,320
$249.3K
Cap Rate 7%
$178,086
$178.1K
Cap Rate 9%
$138,511
$138.5K
Market Conditions
NOI Build-Up for 1,364 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
$23.7K $17.40/SF
− Vacancy
−$1.1K −$0.78/SF
EGI
$22.7K $16.62/SF
− OpEx
−$10.2K −$7.48/SF
NOI
$12.5K $9.14/SF
Area
Buffalo, NY
Vacancy
4.50%
Lease Rate
$17.40 /SF/Yr
Expense Ratio
45.00%
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%
$249,320
Cap Rate 7%
$178,086
Cap Rate 9%
$138,511
Alternative Uses
Best Use
Multifamily LT 5
$193.3K
$169.2K – $225.6K
NOI $13,534 @ 7.0% cap · market cap 9.33%
Second Best
Apartment 5plus
$178.1K
$155.8K – $207.8K
NOI $12,466 @ 7.0% cap · market cap 8.60%
Theoretical Best
Office A
$328.0K
$287.0K – $382.7K
NOI $22,961 @ 7.0% cap · market cap 15.84%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Yes
Highway access
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
396
Businesses Nearby
Explore this area
Business Placement
Demographics for 14207, NY
26,006
Population
11,317
Households
2.3
Avg Household Size
32
Median Age
19%
College-Educated
79%
High-School Grad
3.9 sq mi
ZIP Area
6,668
Density / Sq Mi
$38,951
Median Household Income
$33,851
Median Earnings
$943
Median Rent
$111,200
Median Home Value
Market
Vacancy Rate% for Multifamily in Northeast region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Duplex - Rehabbed lower unit is ready for occupancy or leasing.
Where is this duplex located?
The property is located at 1967 Niagara Street Buffalo, NY.
What is the asking price?
The asking price for this property is $145,000.
What are key features of this property?
This property features: Two‑family duplex built in 1925; 4 bedrooms and 2 bathrooms; Approximately 1,364 square feet of living space
