Duplex With Former
For Sale
$390,000
23 Wadsworth Street, Buffalo, NY 14201
Residentially zoned property with a former storefront lower level and two recently painted apartments.
Property Size1,980 SF
Days on Market35
Property Features for 23 Wadsworth Street
General Information
Standard status
Active
Size
1,980 SF
Total Parking Spaces
2
Property subtype
Multi Family
Zoning
Residential
Taxes and HOA fees
Annual Taxes
$3,086
Building Details
Building Size
1,980 SF
Year Built
1900
Listing Agency:
Gurney Becker & Bourne
(716) 818-9042
Listed By:
Jeffrey Moyer · License #10401225154
(716) 818-9042
Source:
Highfallssir
Added: Jul 2
Changed: Aug 2
Last Checked: Aug 4 at 8:22AM
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 Gurney Becker & Bourne
Investment Insights
Based on property information with market context.
This two-family property combines residential use with a lower-level space that previously operated as a storefront. The lower apartment now provides an open-concept living area with high ceilings and wheelchair-friendly features, while the upper unit includes engineered hardwood flooring, recessed lighting, two floodlight security cameras, and a rear deck. Both apartments offer radiant floor heating, front-loading in-unit laundry, replacement windows, updated bathrooms, and renovated kitchens equipped with dishwashers and built-in microwaves. The units are in move-in condition, and the lower level’s former storefront configuration supports a live-above-business arrangement, subject to applicable approvals.
The property is at 23 Wadsworth Street in Buffalo’s Allentown Historic District, within walking distance of the Medical Corridor and positioned between Kleinhans and Pausa Art House. Off-street parking accommodates two cars, with potential to expand to four. A fenced and gated shared driveway serves a private area used by four homes.
The property is at 23 Wadsworth Street in Buffalo’s Allentown Historic District, within walking distance of the Medical Corridor and positioned between Kleinhans and Pausa Art House. Off-street parking accommodates two cars, with potential to expand to four. A fenced and gated shared driveway serves a private area used by four homes.
Key Highlights
- Two‑family property at 23 Wadsworth Street in Buffalo’s Allentown Historic District
- Lower unit was previously a storefront and now features open‑concept living with high ceilings
- Both apartments include radiant floor heating, in‑unit front‑loading washers and dryers, and renovated kitchens
Financial Insights For Office B
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $40.4k | $20.40 |
| − Vacancy | −$7.5k | −$3.77 |
| EGI | $32.9k | $16.63 |
| − OpEx | −$8.2k | −$4.16 |
| NOI | $24.7k | $12.47 |
1,980 SF · lease $20.40/SF/yr · vacancy 18.50% · expense 25.00%
Alternative Uses
Best Use
Office B
$352.7K
$308.6K – $411.5K
NOI $24,690 @ 7.0% cap · market cap 6.33%
Second Best
Mixed Use
$305.5K
$267.3K – $356.4K
NOI $21,384 @ 7.0% cap · market cap 5.48%
Theoretical Best
Office A
$476.2K
$416.6K – $555.5K
NOI $33,331 @ 7.0% cap · market cap 8.55%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
2,735
Businesses Nearby
Explore this area
Business Placement
Demographics for 14201, NY
12,364
Population
7,172
Households
1.7
Avg Household Size
33
Median Age
39%
College-Educated
84%
High-School Grad
1.1 sq mi
ZIP Area
11,240
Density / Sq Mi
$34,204
Median Household Income
$34,081
Median Earnings
$953
Median Rent
$327,900
Median Home Value
Market
Vacancy Rate% for Office in Buffalo, NY
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Duplex - Residentially zoned property with a former storefront lower level and two recently painted apartments.
Where is this duplex located?
The property is located at 23 Wadsworth Street Buffalo, NY.
What is the asking price?
The asking price for this property is $390,000.
What are key features of this property?
This property features: Two‑family property at 23 Wadsworth Street in Buffalo’s Allentown Historic District; Lower unit was previously a storefront and now features open‑concept living with high ceilings; Both apartments include radiant floor heating, in‑unit front‑loading washers and dryers, and renovated kitchens
