Two-Unit Duplex with
For Sale
$295,000
2 Flower Street, Buffalo, NY 14214
Separate gas and electric service supports two residences, one vacant and the other occupied by a tenant.
Property Size2,260 SF
Days on Market8
Property Features for 2 Flower Street
General Information
Standard status
Active
Size
2,260 SF
Total Parking Spaces
1
Property subtype
Multi Family
Units
Unit Mix
2 x 3BR/1BA
Multifamily Units
2
Additional Details
Utilities to Site
Yes
Taxes and HOA fees
Annual Taxes
$2,492
Amenities
deck
sunroom
fireplace
hardwood floors
updated windows
large backyard
Building Details
Building Size
2,260 SF
Year Built
1910
Buildings
1
Listing Agency:
HUNT Real Estate ERA
Listed By:
Caroline L Raimy · License #10301224668
(716) 534-6326
Source:
Highfallssir
Added: Sep 29
Changed: Oct 5
Last Checked: Oct 4 at 2:23PM
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 HUNT Real Estate ERA
Investment Insights
Based on property information with market context.
Built in 1910, this duplex contains two three-bedroom residences, each with a full bath, kitchen, formal dining room, living room, and fireplace. Hardwood flooring is present in the bedrooms, and the windows have been updated. The upper apartment has a living-room deck; the lower apartment includes a sunroom. One residence is vacant, while the other is tenant-occupied.
The property sits beside a city park and has a large backyard, off-street parking for one vehicle, and separate gas and electric utilities. It is near the University at Buffalo South Campus, along with shopping and restaurants. Water, snow removal, and landscaping are included with the tenant’s rent.
The property sits beside a city park and has a large backyard, off-street parking for one vehicle, and separate gas and electric utilities. It is near the University at Buffalo South Campus, along with shopping and restaurants. Water, snow removal, and landscaping are included with the tenant’s rent.
Key Highlights
- Two residences, each with 3 bedrooms and a full bath
- Upper unit is vacant; lower unit is occupied by a tenant
- Separate gas and electric utilities
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$22,425
Cap Rate
7.60%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$448,500
$448.5K
Cap Rate 7%
$320,357
$320.4K
Cap Rate 9%
$249,167
$249.2K
Market Conditions
NOI Build-Up for 2,260 SF
Gross rent
$33.9K $15.00/SF
− Vacancy
−$1.9K −$0.83/SF
EGI
$32.0K $14.17/SF
− OpEx
−$9.6K −$4.25/SF
NOI
$22.4K $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%
$448,500
Cap Rate 7%
$320,357
Cap Rate 9%
$249,167
Alternative Uses
Best Use
Multifamily LT 5
$320.4K
$280.3K – $373.8K
NOI $22,425 @ 7.0% cap · market cap 7.60%
Second Best
Apartment 5plus
$295.1K
$258.2K – $344.3K
NOI $20,655 @ 7.0% cap · market cap 7.00%
Theoretical Best
Office A
$543.5K
$475.6K – $634.1K
NOI $38,044 @ 7.0% cap · market cap 12.90%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
2
Residential units
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
931
Businesses Nearby
Explore this area
Business Placement
Demographics for 14214, NY
20,732
Population
9,280
Households
2.2
Avg Household Size
32
Median Age
46%
College-Educated
90%
High-School Grad
3.3 sq mi
ZIP Area
6,282
Density / Sq Mi
$56,573
Median Household Income
$29,928
Median Earnings
$1,072
Median Rent
$234,600
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 - Separate gas and electric service supports two residences, one vacant and the other occupied by a tenant.
Where is this duplex located?
The property is located at 2 Flower Street Buffalo, NY.
What is the asking price?
The asking price for this property is $295,000.
What are key features of this property?
This property features: Two residences, each with 3 bedrooms and a full bath; Upper unit is vacant; lower unit is occupied by a tenant; Separate gas and electric utilities
