Duplex with In-Law Apartment and
For Sale
$350,000
20 East Avenue, Buffalo, NY 14224
Residential, Buffalo, NY
Property Size2,521 SF
Lot Size0.34 Acres
Price / SF$138.83
Days on Market141
Property Features for 20 East Avenue
General Information
Property type
Residential Multi Family
Property subtype
Other
Bedrooms
6
Bathrooms
3
Full bathrooms
3
Rooms
Bedroom 3, Bedroom 6, Bathroom 1, Bedroom 1, Bathroom 2, Bedroom 5, Bedroom 2, Bedroom 4, Basement, Bathroom 3
Appliances
GasWaterHeater
Lot features
Corner Lot, Rectangular, Rectangular Lot
Middle school
East Middle
High school
West Seneca East Senior High
Elementary school district
West Seneca
Middle school district
West Seneca
High school district
West Seneca
Subdivision
West Seneca-146800
Standard status
Active
APN
146800-135-170-0002-013-000
Size
2,521 SF
Lot size
0.34 Acres
Taxes and HOA fees
Tax Annual Amount
5104
Utilities
Heating system
Natural Gas, Forced Air
Cooling system
Central Air
Water source
Public
Building Details
Year built
1950
Floors in Building
1
Number of units
2
Flooring type
Vinyl, Hardwood, Tile, Carpet, Varies
Building materials
VinylSiding
Listing Agency:
WNY Metro Roberts Realty
(716) 646-6400
Listed By:
Brian Kras · License #10401373450
(716) 796-4186
Added: Apr 2
Changed: Aug 19
Last Checked: Aug 20 at 5:06AM
MLS# B1670679
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 expanded Cape Cod duplex is configured today as a single-family home with a second-floor in-law apartment. The main level offers 3 bedrooms, while the upstairs provides 2 additional bedrooms. With finishing, the layout can function as a larger multi-bedroom, 3-bath home with multiple living areas, including a family room and home office. The property also has a clear path to a true two-family setup, with a spacious first-floor unit that can be arranged as a 4- or 5-bedroom, 2-bath residence, plus an upper unit that can be arranged as a 2-bedroom, 1-bath home.
Built in 1950, the home includes vinyl siding and central air, and it is served by public water. Heating is natural gas forced air, with a gas water heater. Outside, there is an oversized 3+ car garage and a triple-wide driveway for parking and storage.
R65A zoning supports the duplex use and additional flexibility for owner-occupants or buyers planning a conversion.
Built in 1950, the home includes vinyl siding and central air, and it is served by public water. Heating is natural gas forced air, with a gas water heater. Outside, there is an oversized 3+ car garage and a triple-wide driveway for parking and storage.
R65A zoning supports the duplex use and additional flexibility for owner-occupants or buyers planning a conversion.
Key Highlights
- R65A zoning for duplex use and conversion flexibility
- Currently set up as single‑family with second‑floor in‑law apartment
- 3 bedrooms on main level plus 2 upstairs bedrooms
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
$25,015
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
7.15%
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%
$500,300
$500.3K
Cap Rate 7%
$357,357
$357.4K
Cap Rate 9%
$277,944
$277.9K
Market Conditions
NOI Build-Up for 2,521 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
$37.8K $15.00/SF
− Vacancy
−$2.1K −$0.83/SF
EGI
$35.7K $14.17/SF
− OpEx
−$10.7K −$4.25/SF
NOI
$25.0K $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%
$500,300
Cap Rate 7%
$357,357
Cap Rate 9%
$277,944
Alternative Uses
Best Use
Multifamily LT 5
$357.4K
$312.7K – $416.9K
NOI $25,015 @ 7.0% cap · market cap 7.15%
Second Best
Apartment 5plus
$329.1K
$288.0K – $384.0K
NOI $23,040 @ 7.0% cap · market cap 6.58%
Theoretical Best
Office A
$606.3K
$530.5K – $707.3K
NOI $42,438 @ 7.0% cap · market cap 12.13%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
149
Businesses Nearby
Explore this area
Business Placement
Demographics for 14224, NY
40,736
Population
19,286
Households
2.1
Avg Household Size
46
Median Age
33%
College-Educated
95%
High-School Grad
20.2 sq mi
ZIP Area
2,017
Density / Sq Mi
$76,250
Median Household Income
$49,824
Median Earnings
$1,077
Median Rent
$219,800
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 - Expanded Cape Cod set for flexible living, with central air, public water, and R65A zoning for duplex conversion potential.
Where is this duplex located?
The property is located at 20 East Avenue Buffalo, NY.
What is the asking price?
The asking price for this property is $350,000.
What are key features of this property?
This property features: R65A zoning for duplex use and conversion flexibility; Currently set up as single‑family with second‑floor in‑law apartment; 3 bedrooms on main level plus 2 upstairs bedrooms
