Duplex with Separate
For Sale
$239,000
239 Gorton Street, Buffalo, NY 14207
Both apartments include living and dining rooms, kitchens, and independent utility service.
Property Size2,135 SF
Days on Market8
Property Features for 239 Gorton Street
General Information
Standard status
Active
Size
2,135 SF
Property subtype
Multi Family
Units
Unit Mix
1 x 2BR, 1 x 3BR
Multifamily Units
2
Additional Details
Public Transit
Yes
Taxes and HOA fees
Annual Taxes
$1,687
Amenities
partially fenced backyard
laundry hookups
Building Details
Building Size
2,135 SF
Year Built
1880
Buildings
1
Listing Agency:
WNY Metro Roberts Realty
Listed By:
Alan Miller · License #10401326370
(716) 880-6723
Source:
Highfallssir
Added: Sep 24
Changed: Oct 1
Last Checked: Oct 1 at 2:27PM
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.
Built in 1880, this two-apartment property has a two-bedroom lower residence and a three-bedroom upper residence. Each apartment includes living and dining rooms and a kitchen. A full basement provides laundry hookups and storage; the exterior has aluminum siding and a partially fenced backyard.
Utility service is separate for each apartment. The hot water tanks were replaced in 2021 and 2024, and the furnaces were replaced in 2018 and 2023. Street parking is available, with shopping, amenities, and public transportation accessible nearby.
Utility service is separate for each apartment. The hot water tanks were replaced in 2021 and 2024, and the furnaces were replaced in 2018 and 2023. Street parking is available, with shopping, amenities, and public transportation accessible nearby.
Key Highlights
- Two apartments: lower unit has 2 bedrooms; upper unit has 3
- Separate utilities for each apartment
- Hot water tanks replaced in 2021 and 2024; furnaces replaced in 2018 and 2023
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
$21,185
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
8.86%
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%
$423,700
$423.7K
Cap Rate 7%
$302,643
$302.6K
Cap Rate 9%
$235,389
$235.4K
Market Conditions
NOI Build-Up for 2,135 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
$32.0K $15.00/SF
− Vacancy
−$1.8K −$0.83/SF
EGI
$30.3K $14.17/SF
− OpEx
−$9.1K −$4.25/SF
NOI
$21.2K $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%
$423,700
Cap Rate 7%
$302,643
Cap Rate 9%
$235,389
Alternative Uses
Best Use
Multifamily LT 5
$302.6K
$264.8K – $353.1K
NOI $21,185 @ 7.0% cap · market cap 8.86%
Second Best
Apartment 5plus
$278.8K
$243.9K – $325.2K
NOI $19,513 @ 7.0% cap · market cap 8.16%
Theoretical Best
Office A
$513.4K
$449.3K – $599.0K
NOI $35,940 @ 7.0% cap · market cap 15.04%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
677
Businesses Nearby
Explore this area
Business Placement
Demographics for 14207, NY
26,006
Population
11,317
Households
2.3
Avg Household Size
32
Median Age
19%
College-Educated
79%
High-School Grad
3.9 sq mi
ZIP Area
6,668
Density / Sq Mi
$38,951
Median Household Income
$33,851
Median Earnings
$943
Median Rent
$111,200
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in Northeast region
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Frequently Asked Questions
What type of property is this?
Duplex - Both apartments include living and dining rooms, kitchens, and independent utility service.
Where is this duplex located?
The property is located at 239 Gorton Street Buffalo, NY.
What is the asking price?
The asking price for this property is $239,000.
What are key features of this property?
This property features: Two apartments: lower unit has 2 bedrooms; upper unit has 3; Separate utilities for each apartment; Hot water tanks replaced in 2021 and 2024; furnaces replaced in 2018 and 2023
