Two-Unit Duplex with
For Sale
$139,999
24 Persia Street, Buffalo, NY 14211
Well-maintained duplex with separate living areas, kitchens, outdoor space, and access to nearby park, shopping, dining, and transportation.
Property Size1,345 SF
Days on Market14
Property Features for 24 Persia Street
General Information
Standard status
Active
Size
1,345 SF
Property subtype
Multi Family
Additional Details
Highway Access
Yes
Multifamily Units
2
Taxes and HOA fees
Annual Taxes
$1,049
Building Details
Building Size
1,345 SF
Year Built
1910
Listing Agency:
Keller Williams Realty WNY
(716) 550-6771
Listed By:
Joseph Brown · License #10401344902
(716) 550-6771
Source:
Highfallssir
Added: Aug 12
Changed: Aug 23
Last Checked: Aug 24 at 2:46PM
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 Keller Williams Realty WNY
Investment Insights
Based on property information with market context.
Built in 1910, this two-unit duplex provides a total of 4 bedrooms and 2 full bathrooms across two residential layouts. The lower apartment includes a living and dining room combination, kitchen, two bedrooms, and one full bathroom. Upstairs, the second apartment offers two bedrooms, one full bathroom, a living room, eat-in kitchen, and additional storage space.
Outdoor features include a spacious backyard and deck. The property is near Schiller Park and the Buffalo-Cheektowaga border, with shopping, dining, entertainment, and everyday amenities nearby. Access to I-90 supports travel throughout Buffalo and surrounding areas.
Outdoor features include a spacious backyard and deck. The property is near Schiller Park and the Buffalo-Cheektowaga border, with shopping, dining, entertainment, and everyday amenities nearby. Access to I-90 supports travel throughout Buffalo and surrounding areas.
Key Highlights
- Two‑unit duplex with 4 bedrooms and 2 full bathrooms
- Lower unit includes combined living and dining room, kitchen, 2 bedrooms, and 1 full bathroom
- Upper unit features 2 bedrooms, 1 full bathroom, eat‑in kitchen, living room, and 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
$12,292
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
8.78%
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%
$245,840
$245.8K
Cap Rate 7%
$175,600
$175.6K
Cap Rate 9%
$136,578
$136.6K
Market Conditions
NOI Build-Up for 1,345 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
$23.4K $17.40/SF
− Vacancy
−$1.1K −$0.78/SF
EGI
$22.3K $16.62/SF
− OpEx
−$10.1K −$7.48/SF
NOI
$12.3K $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%
$245,840
Cap Rate 7%
$175,600
Cap Rate 9%
$136,578
Alternative Uses
Best Use
Multifamily LT 5
$190.7K
$166.8K – $222.4K
NOI $13,346 @ 7.0% cap · market cap 9.53%
Second Best
Apartment 5plus
$175.6K
$153.7K – $204.9K
NOI $12,292 @ 7.0% cap · market cap 8.78%
Theoretical Best
Office A
$323.4K
$283.0K – $377.4K
NOI $22,641 @ 7.0% cap · market cap 16.17%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
416
Businesses Nearby
Explore this area
Business Placement
Demographics for 14211, NY
26,449
Population
11,498
Households
2.3
Avg Household Size
32
Median Age
15%
College-Educated
84%
High-School Grad
3.9 sq mi
ZIP Area
6,782
Density / Sq Mi
$34,490
Median Household Income
$30,705
Median Earnings
$1,008
Median Rent
$91,600
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 - Well-maintained duplex with separate living areas, kitchens, outdoor space, and access to nearby park, shopping, dining, and transportation.
Where is this duplex located?
The property is located at 24 Persia Street Buffalo, NY.
What is the asking price?
The asking price for this property is $139,999.
What are key features of this property?
This property features: Two‑unit duplex with 4 bedrooms and 2 full bathrooms; Lower unit includes combined living and dining room, kitchen, 2 bedrooms, and 1 full bathroom; Upper unit features 2 bedrooms, 1 full bathroom, eat‑in kitchen, living room, and storage
