Duplex with Updated Kitchens and
For Sale
$259,900
213 Stevenson Street, Buffalo, NY 14210
MULTI_FAMILY - Other - Buffalo, NY
Property Size2,200 SF
Lot Size0.08 Acres
Price / SF$118.14
Days on Market97
Property Features for 213 Stevenson Street
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning description
Residential 2 Unit
Bedrooms
6
Bathrooms
2
Full bathrooms
2
Rooms
Bedroom 3, Bathroom 2, Bedroom 4, Bedroom 2, Bedroom 1, Bathroom 1, Bedroom 5, Basement, Bedroom 6
Patio and Porch features
Porch
Interior features
NaturalWoodwork
Appliances
GasWaterHeater
Lot features
Near Public Transit, Rectangular, Rectangular Lot, Residential Lot
Elementary school district
Buffalo
Middle school district
Buffalo
High school district
Buffalo
Directions
Seneca Street to Stevenson Street
Subdivision
Buffalo City-140200
Standard status
Active
APN
140200-123-730-0007-001-000
Size
2,200 SF
Lot size
0.08 Acres
Taxes and HOA fees
Tax Annual Amount
2619
Utilities
Heating system
Forced Air, Natural Gas
Water source
Public
Amenities
laundry amenities
Building Details
Year built
1915
Floors in Building
2
Number of units
2
Flooring type
Tile, Varies, Carpet, Vinyl
Building materials
CompositeSiding, VinylSiding
Roof type
Asphalt, Shingle
Architectural style
Other
Listing Agency:
Keller Williams Realty Lancaster
(716) 324-2300
Listed By:
Ryan Daley · License #10301215815
(716) 949-5189
Added: May 28
Changed: Aug 2
Last Checked: Sep 1 at 1:06PM
MLS# B1685085
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.
213 Stevenson Street presents a professionally owned and maintained 3/3 double duplex that is fully occupied and ready for its next owner. The lower unit features a freshly updated kitchen and bathroom, along with multiple cosmetic updates throughout both units. Both floors include open floor plans with luxury vinyl flooring, and tiled kitchens and bathrooms.
The property includes capital improvements such as updated furnaces in 2016, electrical updates, a new architectural roof in 2020, and both hot water tanks replaced in 2017. A maintenance-free vinyl exterior and composite/vinyl siding support low-maintenance ownership. The home also offers a detached garage and a full basement with laundry amenities and glass block windows for additional storage.
Built in 1915, the duplex is heated with forced air systems and natural gas, with a gas water heater and public water service. Additional interior finishes include natural woodwork, and the home has a porch. Roof coverage includes asphalt shingles.
The property includes capital improvements such as updated furnaces in 2016, electrical updates, a new architectural roof in 2020, and both hot water tanks replaced in 2017. A maintenance-free vinyl exterior and composite/vinyl siding support low-maintenance ownership. The home also offers a detached garage and a full basement with laundry amenities and glass block windows for additional storage.
Built in 1915, the duplex is heated with forced air systems and natural gas, with a gas water heater and public water service. Additional interior finishes include natural woodwork, and the home has a porch. Roof coverage includes asphalt shingles.
Key Highlights
- Fully occupied 3/3 duplex with open floor plans
- Lower unit includes freshly updated kitchen and bathroom plus cosmetic updates
- Luxury vinyl flooring and tiled kitchens and bathrooms in both units
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
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 - Professionally maintained, fully occupied duplex featuring updated kitchen and bathroom interiors across both units.
Where is this duplex located?
The property is located at 213 Stevenson Street 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: Fully occupied 3/3 duplex with open floor plans; Lower unit includes freshly updated kitchen and bathroom plus cosmetic updates; Luxury vinyl flooring and tiled kitchens and bathrooms in both units
