Duplex with Full
For Sale
$179,900
204 Easton Avenue, Buffalo, NY 14215
Two-unit residential property with separate living spaces and access to nearby schools, shopping, dining, transit, and major roadways.
Property Size1,709 SF
Days on Market54
Property Features for 204 Easton Avenue
General Information
Standard status
Active
Size
1,709 SF
Property subtype
Multi Family
Taxes and HOA fees
Annual Taxes
$1,879
Building Details
Building Size
1,709 SF
Year Built
1945
Listing Agency:
HUNT Real Estate Corporation
(718) 864-7729
Listed By:
Mohammed Faisal Nowaz · License #10401370908
(718) 864-7729
Source:
Highfallssir
Added: Jul 10
Changed: Aug 30
Last Checked: Aug 31 at 9:22PM
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 Corporation
Investment Insights
Based on property information with market context.
Built in 1945, this Buffalo duplex contains two residential units, each with 2 bedrooms, a full bathroom, a living room, and a kitchen. A full basement provides additional storage and utility space.
The property is located at 204 Easton Avenue near schools, shopping, restaurants, and public transportation, with access to major roadways in the Sycamore and Fillmore area. The layout supports an owner-occupant arrangement with one unit available for rental, or operation as a two-unit income property.
The property is located at 204 Easton Avenue near schools, shopping, restaurants, and public transportation, with access to major roadways in the Sycamore and Fillmore area. The layout supports an owner-occupant arrangement with one unit available for rental, or operation as a two-unit income property.
Key Highlights
- Two‑unit duplex at 204 Easton Avenue in Buffalo, NY
- Each unit includes 2 bedrooms, a full bathroom, living room, and kitchen
- Full basement offers additional storage and utility 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
$15,619
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
8.68%
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%
$312,380
$312.4K
Cap Rate 7%
$223,129
$223.1K
Cap Rate 9%
$173,544
$173.5K
Market Conditions
NOI Build-Up for 1,709 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
$29.7K $17.40/SF
− Vacancy
−$1.3K −$0.78/SF
EGI
$28.4K $16.62/SF
− OpEx
−$12.8K −$7.48/SF
NOI
$15.6K $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%
$312,380
Cap Rate 7%
$223,129
Cap Rate 9%
$173,544
Alternative Uses
Best Use
Multifamily LT 5
$242.3K
$212.0K – $282.6K
NOI $16,958 @ 7.0% cap · market cap 9.43%
Second Best
Apartment 5plus
$223.1K
$195.2K – $260.3K
NOI $15,619 @ 7.0% cap · market cap 8.68%
Theoretical Best
Office A
$411.0K
$359.6K – $479.5K
NOI $28,769 @ 7.0% cap · market cap 15.99%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
533
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
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 - Two-unit residential property with separate living spaces and access to nearby schools, shopping, dining, transit, and major roadways.
Where is this duplex located?
The property is located at 204 Easton Avenue Buffalo, NY.
What is the asking price?
The asking price for this property is $179,900.
What are key features of this property?
This property features: Two‑unit duplex at 204 Easton Avenue in Buffalo, NY; Each unit includes 2 bedrooms, a full bathroom, living room, and kitchen; Full basement offers additional storage and utility space
