Duplex With Three-Car
New
For Sale
$189,239
21 Rutland Avenue, Buffalo, NY 14212
Residential, Buffalo, NY
Property Size1,320 SF
Lot Size0.25 Acres
Price / SF$143.36
Days on Market2
Property Features for 21 Rutland Avenue
General Information
Property type
Residential Multi Family
Property subtype
Other
Bedrooms
4
Bathrooms
2
Full bathrooms
2
Rooms
Bedroom 3, Bedroom 4, Basement, Bedroom 2, Bathroom 1, Bedroom 1, Bathroom 2
Parking features
Open
Patio and Porch features
Porch
Interior features
EntranceFoyer, NaturalWoodwork
Exterior features
Fence
Fencing
Fenced
Fireplace
1
Appliances
GasWaterHeater
Subdivision
Frank Ruszkiewicz Sub
Lot features
Near Public Transit, Rectangular, Rectangular Lot, Residential Lot
Elementary school district
Cheektowaga-Sloan
Middle school district
Cheektowaga-Sloan
High school district
Cheektowaga-Sloan
Directions
Harlem rd. to gerlich
Standard status
Active
APN
143001-113-220-0004-019-000
Size
1,320 SF
Lot size
0.25 Acres
Taxes and HOA fees
Tax Annual Amount
4841
Utilities
Heating system
Hot Water(Heating), Natural Gas, Baseboard, Radiant
Water source
Public
Amenities
enclosed patio
basement
Building Details
Year built
1937
Floors in Building
1
Number of units
2
Flooring type
Vinyl, Varies, Tile, Resilient, Laminate
Building materials
AluminumSiding
Roof type
Shingle
Architectural style
Other
Listing Agency:
WNY Metro Roberts Realty
(716) 559-9972
Listed By:
Gina R DuBois · License #10401203791
(716) 578-4386
Added: Sep 11
Changed: Sep 12
Last Checked: Sep 12 at 7:06PM
MLS# B1714068
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 1937 duplex property contains 1,320 square feet with four bedrooms and two full bathrooms arranged across two floors. Each level includes living space, a kitchen, and bathroom access, while a formal dining room adds flexibility to the interior layout. Additional features include natural woodwork, a dry basement, enclosed rear patio, porch, fenced yard, and a three-car garage. Gas water heating, baseboard and radiant heating, vinyl, tile, laminate, and resilient flooring are also included.
The property sits on a 0.25-acre lot at 21 Rutland Avenue in Buffalo, New York. Shopping along Walden Avenue is nearby, bus routes are within walking distance, and Route 90 can be reached within minutes. Downtown Buffalo is approximately 15 minutes away. Public water service, aluminum siding, a shingle roof, and some included appliances round out the property details.
The property sits on a 0.25-acre lot at 21 Rutland Avenue in Buffalo, New York. Shopping along Walden Avenue is nearby, bus routes are within walking distance, and Route 90 can be reached within minutes. Downtown Buffalo is approximately 15 minutes away. Public water service, aluminum siding, a shingle roof, and some included appliances round out the property details.
Key Highlights
- Duplex property with 4 bedrooms and 2 full bathrooms
- 1,320 square feet on a 0.25‑acre lot
- Three‑car garage with open parking
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
$13,098
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
6.92%
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%
$261,960
$262.0K
Cap Rate 7%
$187,114
$187.1K
Cap Rate 9%
$145,533
$145.5K
Market Conditions
NOI Build-Up for 1,320 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
$19.8K $15.00/SF
− Vacancy
−$1.1K −$0.83/SF
EGI
$18.7K $14.17/SF
− OpEx
−$5.6K −$4.25/SF
NOI
$13.1K $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%
$261,960
Cap Rate 7%
$187,114
Cap Rate 9%
$145,533
Alternative Uses
Best Use
Multifamily LT 5
$187.1K
$163.7K – $218.3K
NOI $13,098 @ 7.0% cap · market cap 6.92%
Second Best
Apartment 5plus
$172.3K
$150.8K – $201.1K
NOI $12,064 @ 7.0% cap · market cap 6.38%
Theoretical Best
Office A
$317.4K
$277.8K – $370.3K
NOI $22,220 @ 7.0% cap · market cap 11.74%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
260
Businesses Nearby
Explore this area
Business Placement
Demographics for 14212, NY
13,533
Population
5,935
Households
2.3
Avg Household Size
32
Median Age
11%
College-Educated
76%
High-School Grad
2.1 sq mi
ZIP Area
6,444
Density / Sq Mi
$35,517
Median Household Income
$26,545
Median Earnings
$829
Median Rent
$89,900
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Multifamily in Northeast region
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Frequently Asked Questions
What type of property is this?
Duplex - Two-level layout offers separate living areas, updated bathrooms, and flexible in-law accommodation.
Where is this duplex located?
The property is located at 21 Rutland Avenue Buffalo, NY.
What is the asking price?
The asking price for this property is $189,239.
What are key features of this property?
This property features: Duplex property with 4 bedrooms and 2 full bathrooms; 1,320 square feet on a 0.25‑acre lot; Three‑car garage with open parking
