Duplex with All-Season
For Sale
$399,900
230 Michael Road, West Seneca, NY 14127
Two separate living areas support owner occupancy, extended-family use, or rental income within a flexible residential layout.
Property Size2,220 SF
Days on Market9
Property Features for 230 Michael Road
General Information
Standard status
Active
Size
2,220 SF
Property subtype
Duplex
Taxes and HOA fees
Annual Taxes
$7,300
Building Details
Building Size
2,220 SF
Year Built
1947
Listing Agency:
WNY Metro Roberts Realty
(716) 289-1191
Listed By:
Shanan King · License #10401241121
(716) 289-1191
Source:
Highfallssir
Added: Aug 14
Changed: Aug 21
Last Checked: Aug 21 at 11:09AM
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 WNY Metro Roberts Realty
Investment Insights
Based on property information with market context.
This duplex at 230 Michael Road includes a 2,220-square-foot primary residence on the first floor and a separate studio apartment upstairs. The main unit has two bedrooms, a full bathroom, eat-in kitchen, living room, first-floor laundry, and a window-lined all-season room that connects to the deck. The upper studio includes a kitchen, combined living and sleeping area, and full bathroom. A finished basement room adds usable interior space.
The property occupies 0.66 acres in the West Seneca School District. Exterior improvements include a two-car garage, above-ground pool, partially fenced yard, and a large shed suitable for landscaping equipment or vehicle storage. Central air was added in 2025, and the kitchen and bath have updated granite countertops along with updated flooring. The property is being sold as-is as part of an estate sale.
The property occupies 0.66 acres in the West Seneca School District. Exterior improvements include a two-car garage, above-ground pool, partially fenced yard, and a large shed suitable for landscaping equipment or vehicle storage. Central air was added in 2025, and the kitchen and bath have updated granite countertops along with updated flooring. The property is being sold as-is as part of an estate sale.
Key Highlights
- Two‑unit layout with a first‑floor residence and separate second‑floor studio
- 2,220‑square‑foot home on a 0.66‑acre lot
- First‑floor unit includes 2 bedrooms, full bath, laundry, and all‑season room
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
$22,028
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
5.51%
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%
$440,560
$440.6K
Cap Rate 7%
$314,686
$314.7K
Cap Rate 9%
$244,756
$244.8K
Market Conditions
NOI Build-Up for 2,220 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
$33.3K $15.00/SF
− Vacancy
−$1.8K −$0.83/SF
EGI
$31.5K $14.17/SF
− OpEx
−$9.4K −$4.25/SF
NOI
$22.0K $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%
$440,560
Cap Rate 7%
$314,686
Cap Rate 9%
$244,756
Alternative Uses
Best Use
Multifamily LT 5
$314.7K
$275.4K – $367.1K
NOI $22,028 @ 7.0% cap · market cap 5.51%
Second Best
Apartment 5plus
$289.8K
$253.6K – $338.2K
NOI $20,289 @ 7.0% cap · market cap 5.07%
Theoretical Best
Office A
$533.9K
$467.1K – $622.9K
NOI $37,371 @ 7.0% cap · market cap 9.35%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
517
Businesses Nearby
Explore this area
Business Placement
Demographics for 14127, NY
30,565
Population
13,412
Households
2.3
Avg Household Size
46
Median Age
53%
College-Educated
98%
High-School Grad
40.7 sq mi
ZIP Area
751
Density / Sq Mi
$106,071
Median Household Income
$59,902
Median Earnings
$1,196
Median Rent
$328,700
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 - Two separate living areas support owner occupancy, extended-family use, or rental income within a flexible residential layout.
Where is this duplex located?
The property is located at 230 Michael Road West Seneca, NY.
What is the asking price?
The asking price for this property is $399,900.
What are key features of this property?
This property features: Two‑unit layout with a first‑floor residence and separate second‑floor studio; 2,220‑square‑foot home on a 0.66‑acre lot; First‑floor unit includes 2 bedrooms, full bath, laundry, and all‑season room
