Three-Bedroom Duplex With
For Sale
$229,900
230 Rodney Avenue, Buffalo, NY 14214
Two residential units offer separate living spaces, kitchens, full bathrooms, and additional storage areas.
Property Size2,264 SF
Days on Market8
Property Features for 230 Rodney Avenue
General Information
Standard status
Active
Size
2,264 SF
Property subtype
Multi Family
Units
Unit Mix
2 x 3BR/1BA
Multifamily Units
2
Taxes and HOA fees
Annual Taxes
$1,432
Building Details
Building Size
2,264 SF
Year Built
1910
Buildings
1
Listing Agency:
HUNT Real Estate ERA
(347) 968-4231
Listed By:
Md Nazmul Hussain · License #10401369637
(347) 968-4231
Source:
Highfallssir
Added: Aug 24
Changed: Aug 29
Last Checked: Aug 31 at 12:35AM
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 HUNT Real Estate ERA
Investment Insights
Based on property information with market context.
Built in 1910, this duplex contains two residential units with matching three-bedroom layouts. Each unit includes a living room, dining area, kitchen, and full bathroom, creating clearly defined spaces for household use.
The property includes both a full basement and full attic for storage, along with a full driveway and detached garage for off-street parking. Located at 230 Rodney Avenue in Buffalo, New York, the building provides a two-unit configuration with substantial supporting space.
The property includes both a full basement and full attic for storage, along with a full driveway and detached garage for off-street parking. Located at 230 Rodney Avenue in Buffalo, New York, the building provides a two-unit configuration with substantial supporting space.
Key Highlights
- Two‑unit duplex with 3 bedrooms in each unit
- Each unit includes a living room, dining room, kitchen, and full bathroom
- Full basement and full attic provide additional storage
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
$20,691
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
9.00%
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%
$413,820
$413.8K
Cap Rate 7%
$295,586
$295.6K
Cap Rate 9%
$229,900
$229.9K
Market Conditions
NOI Build-Up for 2,264 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
$39.4K $17.40/SF
− Vacancy
−$1.8K −$0.78/SF
EGI
$37.6K $16.62/SF
− OpEx
−$16.9K −$7.48/SF
NOI
$20.7K $9.14/SF
Area
Buffalo, NY
Vacancy
4.50%
Lease Rate
$17.40 /SF/Yr
Expense Ratio
45.00%
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%
$413,820
Cap Rate 7%
$295,586
Cap Rate 9%
$229,900
Alternative Uses
Best Use
Multifamily LT 5
$320.9K
$280.8K – $374.4K
NOI $22,465 @ 7.0% cap · market cap 9.77%
Second Best
Apartment 5plus
$295.6K
$258.6K – $344.9K
NOI $20,691 @ 7.0% cap · market cap 9.00%
Theoretical Best
Office A
$544.4K
$476.4K – $635.2K
NOI $38,111 @ 7.0% cap · market cap 16.58%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
893
Businesses Nearby
Explore this area
Business Placement
Demographics for 14214, NY
20,732
Population
9,280
Households
2.2
Avg Household Size
32
Median Age
46%
College-Educated
90%
High-School Grad
3.3 sq mi
ZIP Area
6,282
Density / Sq Mi
$56,573
Median Household Income
$29,928
Median Earnings
$1,072
Median Rent
$234,600
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 residential units offer separate living spaces, kitchens, full bathrooms, and additional storage areas.
Where is this duplex located?
The property is located at 230 Rodney Avenue Buffalo, NY.
What is the asking price?
The asking price for this property is $229,900.
What are key features of this property?
This property features: Two‑unit duplex with 3 bedrooms in each unit; Each unit includes a living room, dining room, kitchen, and full bathroom; Full basement and full attic provide additional storage
