Two-Unit Duplex with
For Sale
$199,900
20 Ericson Avenue, Buffalo, NY 14215
Residential, Buffalo, NY
Property Size1,563 SF
Lot Size0.09 Acres
Price / SF$127.90
Days on Market8
Property Features for 20 Ericson Avenue
General Information
Property type
Residential Multi Family
Property subtype
Other
Bedrooms
4
Bathrooms
2
Full bathrooms
2
Rooms
Bathroom 2, Bedroom 1, Basement, Bedroom 3, Bedroom 2, Bedroom 4, Bathroom 1
Exterior features
Balcony, FullyFenced
Fencing
Fenced
Appliances
GasWaterHeater
Subdivision
Holland Land Company's Su
Lot features
Near Public Transit, Rectangular, Rectangular Lot, Residential Lot
Elementary school district
Buffalo
Middle school district
Buffalo
High school district
Buffalo
Standard status
Active
APN
140200-101-250-0002-015-000
Size
1,563 SF
Lot size
0.09 Acres
Taxes and HOA fees
Tax Annual Amount
1420
Utilities
Heating system
Forced Air, Natural Gas
Water source
Public
Building Details
Year built
1910
Floors in Building
1
Number of units
2
Flooring type
Vinyl, Varies
Building materials
VinylSiding
Roof type
Asphalt
Architectural style
Other
Listing Agency:
Keller Williams Realty WNY
(716) 832-3300
Listed By:
Hasan Mahmud · License #10401388714
(718) 902-0501
Added: Sep 15
Changed: Sep 22
Last Checked: Sep 22 at 2:06PM
MLS# B1711987
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-family duplex contains 1,563 square feet on a 0.0871-acre lot and was built in 1910. The property includes separate units, two bathrooms, four bedrooms, a basement, a balcony, and a fully fenced exterior. Construction features vinyl siding, an asphalt roof, vinyl flooring in portions of the home, and varied flooring elsewhere. Heating is provided by forced air using natural gas, with a gas water heater and public water service.
Located at 20 Ericson Avenue in Buffalo, the property is offered vacant at closing. The seller has stated that the sale will be made as-is and that no repairs will be completed based on the inspection. Showings require 24 hours' notice.
Located at 20 Ericson Avenue in Buffalo, the property is offered vacant at closing. The seller has stated that the sale will be made as-is and that no repairs will be completed based on the inspection. Showings require 24 hours' notice.
Key Highlights
- Two‑family duplex with 1,563 square feet of property size
- 0.0871‑acre lot at 20 Ericson Avenue, Buffalo, NY 14215
- Four bedrooms, two bathrooms, and a basement
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
$15,509
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
7.76%
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%
$310,180
$310.2K
Cap Rate 7%
$221,557
$221.6K
Cap Rate 9%
$172,322
$172.3K
Market Conditions
NOI Build-Up for 1,563 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
$23.4K $15.00/SF
− Vacancy
−$1.3K −$0.83/SF
EGI
$22.2K $14.17/SF
− OpEx
−$6.6K −$4.25/SF
NOI
$15.5K $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%
$310,180
Cap Rate 7%
$221,557
Cap Rate 9%
$172,322
Alternative Uses
Best Use
Multifamily LT 5
$221.6K
$193.9K – $258.5K
NOI $15,509 @ 7.0% cap · market cap 7.76%
Second Best
Apartment 5plus
$204.1K
$178.6K – $238.1K
NOI $14,285 @ 7.0% cap · market cap 7.15%
Theoretical Best
Office A
$375.9K
$328.9K – $438.5K
NOI $26,311 @ 7.0% cap · market cap 13.16%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
580
Businesses Nearby
Explore this area
Business Placement
Demographics for 14215, NY
42,447
Population
19,203
Households
2.2
Avg Household Size
33
Median Age
19%
College-Educated
87%
High-School Grad
4.8 sq mi
ZIP Area
8,843
Density / Sq Mi
$43,326
Median Household Income
$29,204
Median Earnings
$993
Median Rent
$102,800
Median Home Value
Check the figures for this property
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 - Vacant at closing, this fenced residential property offers separate living units and access to public water.
Where is this duplex located?
The property is located at 20 Ericson Avenue Buffalo, NY.
What is the asking price?
The asking price for this property is $199,900.
What are key features of this property?
This property features: Two‑family duplex with 1,563 square feet of property size; 0.0871‑acre lot at 20 Ericson Avenue, Buffalo, NY 14215; Four bedrooms, two bathrooms, and a basement
