Updated Duplex with Detached
For Sale
$259,900
213 Stevenson St, Buffalo, NY 14210
Fully occupied two-unit property with refreshed finishes, updated systems, basement storage, and laundry amenities.
Property Size2,200 SF
Price / SF$118.14
Days on Market30
Property Features for 213 Stevenson St
General Information
Standard status
Active
Size
2,200 SF
Property subtype
Multi-Family
Occupancy
100%
Additional Details
Multifamily Units
2
Amenities
garage
basement
laundry
Building Details
Year Built
1915
Buildings
1
Tenancy
Multi
Listing Agency:
Keller Williams Realty Lancaster
Listed By:
Ryan Daley · License #10301215815
(716) 949-5189
Source:
Skinnercnyrealty
Added: Aug 7
Changed: Sep 4
Last Checked: Aug 28 at 11:29AM
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 Keller Williams Realty Lancaster
Investment Insights
Based on property information with market context.
This 2,200 SF duplex, built in 1915, contains two open-plan units with luxury vinyl flooring and tile in the kitchens and bathrooms. The lower residence includes a recently refreshed kitchen and bathroom, while cosmetic improvements extend throughout both units. The property is fully occupied and features a maintenance-free vinyl exterior.
Capital improvements include updated furnaces completed in 2016, replacement hot water tanks installed in 2017, and an architectural roof added in 2020. A detached garage and full basement provide additional storage, with basement laundry facilities and glass block windows. Located at 213 Stevenson St in Buffalo, NY, the property offers a two-unit residential configuration with established occupancy and multiple completed upgrades.
Capital improvements include updated furnaces completed in 2016, replacement hot water tanks installed in 2017, and an architectural roof added in 2020. A detached garage and full basement provide additional storage, with basement laundry facilities and glass block windows. Located at 213 Stevenson St in Buffalo, NY, the property offers a two-unit residential configuration with established occupancy and multiple completed upgrades.
Key Highlights
- 2,200 SF duplex built in 1915
- Fully occupied two‑unit residential property
- Lower unit includes updated kitchen and bathroom
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
$21,830
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
8.40%
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%
$436,600
$436.6K
Cap Rate 7%
$311,857
$311.9K
Cap Rate 9%
$242,556
$242.6K
Market Conditions
NOI Build-Up for 2,200 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%
$436,600
Cap Rate 7%
$311,857
Cap Rate 9%
$242,556
Alternative Uses
Best Use
Multifamily LT 5
$311.9K
$272.9K – $363.8K
NOI $21,830 @ 7.0% cap · market cap 8.40%
Second Best
Apartment 5plus
$287.2K
$251.3K – $335.1K
NOI $20,107 @ 7.0% cap · market cap 7.74%
Theoretical Best
Office A
$529.1K
$462.9K – $617.2K
NOI $37,034 @ 7.0% cap · market cap 14.25%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
100%
Occupancy
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
679
Businesses Nearby
Explore this area
Business Placement
Demographics for 14210, NY
15,480
Population
7,813
Households
2
Avg Household Size
36
Median Age
19%
College-Educated
85%
High-School Grad
3.1 sq mi
ZIP Area
4,994
Density / Sq Mi
$51,059
Median Household Income
$31,652
Median Earnings
$925
Median Rent
$124,300
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 - Fully occupied two-unit property with refreshed finishes, updated systems, basement storage, and laundry amenities.
Where is this duplex located?
The property is located at 213 Stevenson St Buffalo, NY.
What is the asking price?
The asking price for this property is $259,900.
What are key features of this property?
This property features: 2,200 SF duplex built in 1915; Fully occupied two‑unit residential property; Lower unit includes updated kitchen and bathroom
