Updated Duplex with Finished
For Sale
$249,900
234 Kinsey Avenue, Buffalo, NY 14217
MULTI_FAMILY - Buffalo, NY
Property Size1,540 SF
Lot Size0.10 Acres
Price / SF$162.27
Days on Market9
Property Features for 234 Kinsey Avenue
General Information
Property type
Residential Multi Family
Property subtype
Other
Bedrooms
3
Bathrooms
2
Full bathrooms
2
Rooms
Basement, Bedroom 3, Bedroom 2, Bathroom 1, Bedroom 1, Bathroom 2
Appliances
GasWaterHeater
Subdivision
Town/Tonawanda
Lot features
Rectangular, Rectangular Lot, Residential Lot
Elementary school district
Kenmore-Tonawanda Union Free District
Middle school district
Kenmore-Tonawanda Union Free District
High school district
Kenmore-Tonawanda Union Free District
Standard status
Active
APN
146401-066-690-0005-005-000
Size
1,540 SF
Lot size
0.10 Acres
Taxes and HOA fees
Tax Annual Amount
5689
Utilities
Heating system
Forced Air, Natural Gas
Water source
Public
Amenities
fenced yard
finished garage
Building Details
Year built
1924
Floors in Building
1
Number of units
2
Flooring type
Varies, Laminate
Building materials
FiberCement
Listing Agency:
WNY Metro Roberts Realty
(716) 662-0449
Listed By:
Alyssa Roberts · License #10401338893
(716) 239-7588
Added: Aug 6
Changed: Aug 14
Last Checked: Aug 14 at 10:06PM
MLS# B1705311
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.
Located at 234 Kinsey Avenue in Buffalo, this 1,540-square-foot duplex includes two residential units. The first-floor apartment offers two bedrooms, while the upper apartment contains one bedroom and has a remodeled kitchen and bathroom. Both units include new refrigerators, and the property has a new electrical panel with updated wiring.
The 0.0988-acre parcel includes a fully fenced yard and a finished garage with a ductless split system serving both heating and air conditioning. The garage was previously used as a home gym and provides additional finished space. Built in 1924, the property also has a basement, forced-air natural gas heating, public water, fiber-cement construction, and a location near a school, park, police station, and Delaware Avenue’s shops and restaurants.
The 0.0988-acre parcel includes a fully fenced yard and a finished garage with a ductless split system serving both heating and air conditioning. The garage was previously used as a home gym and provides additional finished space. Built in 1924, the property also has a basement, forced-air natural gas heating, public water, fiber-cement construction, and a location near a school, park, police station, and Delaware Avenue’s shops and restaurants.
Key Highlights
- Two‑unit duplex with a 2‑bedroom first‑floor apartment and a 1‑bedroom upper apartment
- 1,540 square feet on a 0.0988‑acre parcel
- Upper unit includes a renovated kitchen and bathroom
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-unit property with renovated second-floor kitchen and bathroom, updated electrical, fenced yard, and ductless heating and cooling.
Where is this duplex located?
The property is located at 234 Kinsey Avenue 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: Two‑unit duplex with a 2‑bedroom first‑floor apartment and a 1‑bedroom upper apartment; 1,540 square feet on a 0.0988‑acre parcel; Upper unit includes a renovated kitchen and bathroom
