Renovated Duplex with Separate
For Sale
$304,999
Pending
207 DAVIDSON AVE, Buffalo, NY 14215
Two updated units feature refreshed kitchens, bathrooms, flooring, lighting, and paint.
Property Size2,199 SF
Days on Market163
Property Features for 207 DAVIDSON AVE
General Information
Standard status
Pending
Size
2,199 SF
Property subtype
Multi-Family
Additional Details
Multifamily Units
2
Taxes and HOA fees
Annual Taxes
$1,510
Amenities
Gas
Full
3
Hardwood, Tile, Vinyl
Asphalt
Brick Wall
Balcony
Concrete Driveway.
Brick, Vinyl
Rectangular
34X105
City Road, Rectangular.
Building Details
Year Built
1930
Listing Agency:
(716) 236-7644
Listed By:
Iconic Real Estate
(716) 266-5805
Source:
Xome
Added: Mar 25
Changed: Aug 31
Last Checked: Aug 31 at 1:21PM
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 Iconic Real Estate
Investment Insights
Based on property information with market context.
This duplex at 207 Davidson Ave contains 2,199 square feet with five bedrooms and two bathrooms across two residential units. The property has received extensive updates, including luxury vinyl flooring, fresh paint, new light fixtures, renovated kitchens with modern countertops and stainless steel sinks, and refreshed bathrooms with new vanities, tile work, and mirrors. A new roof was installed in 2025, while high-efficiency furnaces and newer hot water tanks add to the recent improvements.
Each unit has separate electric utilities. The property also includes a balcony, concrete driveway, brick and vinyl exterior elements, and a rectangular 34X105 site. Built in 1930, it is located near the Galleria Mall and area shopping, dining, and other amenities.
Each unit has separate electric utilities. The property also includes a balcony, concrete driveway, brick and vinyl exterior elements, and a rectangular 34X105 site. Built in 1930, it is located near the Galleria Mall and area shopping, dining, and other amenities.
Key Highlights
- 2,199‑square‑foot duplex with 5 bedrooms and 2 bathrooms
- Two residential units with separate electric utilities
- New roof installed in 2025
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
$21,820
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%
$436,400
$436.4K
Cap Rate 7%
$311,714
$311.7K
Cap Rate 9%
$242,444
$242.4K
Market Conditions
NOI Build-Up for 2,199 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
$33.0K $15.00/SF
− Vacancy
−$1.8K −$0.83/SF
EGI
$31.2K $14.17/SF
− OpEx
−$9.4K −$4.25/SF
NOI
$21.8K $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%
$436,400
Cap Rate 7%
$311,714
Cap Rate 9%
$242,444
Alternative Uses
Best Use
Multifamily LT 5
$311.7K
$272.8K – $363.7K
NOI $21,820 @ 7.0% cap · market cap 7.15%
Second Best
Apartment 5plus
$287.1K
$251.2K – $335.0K
NOI $20,097 @ 7.0% cap · market cap 6.59%
Theoretical Best
Office A
$528.8K
$462.7K – $617.0K
NOI $37,017 @ 7.0% cap · market cap 12.14%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
717
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
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Duplex - Two updated units feature refreshed kitchens, bathrooms, flooring, lighting, and paint.
Where is this duplex located?
The property is located at 207 DAVIDSON AVE Buffalo, NY.
What is the asking price?
The asking price for this property is $304,999.
What are key features of this property?
This property features: 2,199‑square‑foot duplex with 5 bedrooms and 2 bathrooms; Two residential units with separate electric utilities; New roof installed in 2025
