Two-Unit Duplex with Separate
For Sale
$239,000
239 Gorton Street, Buffalo, NY 14207
Residential, Buffalo, NY
Property Size2,135 SF
Lot Size0.07 Acres
Price / SF$111.94
Days on Market8
Property Features for 239 Gorton Street
General Information
Property type
Residential Multi Family
Property subtype
Other
Bedrooms
5
Bathrooms
2
Full bathrooms
2
Rooms
Bathroom 2, Basement, Bedroom 5, Bathroom 1, Bedroom 3, Bedroom 2, Bedroom 4, Bedroom 1
Parking features
On Street, Driveway
Patio and Porch features
Porch
Interior features
Storage, NaturalWoodwork
Exterior features
Fence
Fencing
Fenced
Appliances
GasWaterHeater
Lot features
Near Public Transit, Rectangular, Rectangular Lot, Residential Lot
Elementary school district
Buffalo
Middle school district
Buffalo
High school district
Buffalo
Directions
Hertel Avenue to Gorton Street
Subdivision
Buffalo City-140200
Standard status
Active
APN
140200-077-810-0007-039-000
Size
2,135 SF
Lot size
0.07 Acres
Taxes and HOA fees
Tax Annual Amount
1687
Utilities
Heating system
Natural Gas, Forced Air
Water source
Public
Building Details
Year built
1880
Floors in Building
2
Number of units
2
Flooring type
Hardwood, Laminate, Varies, Carpet
Building materials
AluminumSiding, Block, Frame, Concrete, Stone, PexPlumbing
Architectural style
Other
Additional Structures
Storage
Listing Agency:
WNY Metro Roberts Realty
(716) 875-2211
Listed By:
Alan Miller · License #10401326370
(716) 880-6723
Added: Sep 24
Last Checked: Oct 1 at 9:06PM
MLS# B1717290
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.
This 2,135-square-foot duplex contains two apartments, with two bedrooms on the lower level and three upstairs. Both units have living and dining rooms and kitchens. A full basement provides storage and laundry hookups, and each apartment has separate utilities. The exterior includes aluminum siding and a partially fenced yard, with a porch among the property’s features.
Built in 1880, the home occupies a 0.066-acre lot at 239 Gorton Street in Buffalo. Mechanical updates include hot water tanks installed in 2021 and 2024 and furnaces replaced in 2018 and 2023. Parking is listed as available on the street and in a driveway.
Built in 1880, the home occupies a 0.066-acre lot at 239 Gorton Street in Buffalo. Mechanical updates include hot water tanks installed in 2021 and 2024 and furnaces replaced in 2018 and 2023. Parking is listed as available on the street and in a driveway.
Key Highlights
- Two apartments with separate utilities
- 2,135 square feet on a 0.066‑acre lot
- Lower apartment has 2 bedrooms; upper apartment has 3
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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Open Analytics
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
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
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 - The lower apartment has two bedrooms, while the upper unit provides three.
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 with separate utilities; 2,135 square feet on a 0.066‑acre lot; Lower apartment has 2 bedrooms; upper apartment has 3
