Updated Duplex With Finished
New
For Sale
$249,900
234 Kinsey Ave, Buffalo, NY 14217
Two residential units include updated interiors, newer systems, and a fenced outdoor area.
Property Size1,540 SF
Price / SF$162.27
Days on Market2
Property Features for 234 Kinsey Ave
General Information
Standard status
Active
Size
1,540 SF
Property subtype
Multi-Family
Units
Unit Mix
1 x 2BR, 1 x 1BR
Multifamily Units
2
Amenities
fully fenced yard
finished garage
ductless split system
Building Details
Year Built
1924
Buildings
1
Listing Agency:
WNY Metro Roberts Realty
Listed By:
Alyssa Roberts · License #10401338893
(716) 239-7588
Source:
Skinnercnyrealty
Added: Sep 8
Last Checked: Sep 8 at 2:52PM
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 1,540-square-foot duplex, built in 1924, contains a two-bedroom first-floor unit and a one-bedroom apartment above. The upper residence has a renovated kitchen and bathroom, while both units include new refrigerators. Building improvements include a new electrical panel, updated wiring, and a new sump pump.
A finished garage adds flexible bonus space and previously served as a home gym. It has a newer ductless split system for heating and air conditioning. The property also includes a fully fenced yard. A school and park are located a few houses away, while the new police station is within a few blocks. Delaware Avenue’s shops and restaurants are also part of the surrounding village setting.
A finished garage adds flexible bonus space and previously served as a home gym. It has a newer ductless split system for heating and air conditioning. The property also includes a fully fenced yard. A school and park are located a few houses away, while the new police station is within a few blocks. Delaware Avenue’s shops and restaurants are also part of the surrounding village setting.
Key Highlights
- 1,540‑square‑foot duplex built in 1924
- Two‑bedroom first‑floor unit plus updated one‑bedroom second‑floor unit
- Second‑floor kitchen and bathroom completely renovated
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
$15,281
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
6.11%
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%
$305,620
$305.6K
Cap Rate 7%
$218,300
$218.3K
Cap Rate 9%
$169,789
$169.8K
Market Conditions
NOI Build-Up for 1,540 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
$23.1K $15.00/SF
− Vacancy
−$1.3K −$0.83/SF
EGI
$21.8K $14.17/SF
− OpEx
−$6.5K −$4.25/SF
NOI
$15.3K $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%
$305,620
Cap Rate 7%
$218,300
Cap Rate 9%
$169,789
Alternative Uses
Best Use
Multifamily LT 5
$218.3K
$191.0K – $254.7K
NOI $15,281 @ 7.0% cap · market cap 6.11%
Second Best
Apartment 5plus
$201.1K
$175.9K – $234.6K
NOI $14,075 @ 7.0% cap · market cap 5.63%
Theoretical Best
Office A
$370.3K
$324.1K – $432.1K
NOI $25,924 @ 7.0% cap · market cap 10.37%
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
996
Businesses Nearby
Explore this area
Business Placement
Demographics for 14217, NY
23,085
Population
11,280
Households
2
Avg Household Size
41
Median Age
41%
College-Educated
95%
High-School Grad
3.2 sq mi
ZIP Area
7,214
Density / Sq Mi
$72,205
Median Household Income
$51,075
Median Earnings
$970
Median Rent
$193,200
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 include updated interiors, newer systems, and a fenced outdoor area.
Where is this duplex located?
The property is located at 234 Kinsey Ave Buffalo, NY.
What is the asking price?
The asking price for this property is $249,900.
What are key features of this property?
This property features: 1,540‑square‑foot duplex built in 1924; Two‑bedroom first‑floor unit plus updated one‑bedroom second‑floor unit; Second‑floor kitchen and bathroom completely renovated
