Updated Two-Unit
For Sale
$249,900
Pending
241 Herman Street, Buffalo, NY 14211
Two residences support owner occupancy alongside rental use on a residential Buffalo street.
Property Size2,000 SF
Days on Market130
Property Features for 241 Herman Street
General Information
Standard status
Pending
Size
2,000 SF
Property subtype
Multi-Family
Units
Unit Mix
1 x 3BR/1BA, 1 x 2BR/1BA
Multifamily Units
2
Additional Details
Road Access
Yes
Taxes and HOA fees
Annual Taxes
$990
Amenities
Electric, Gas, A/C - Other
Full
3
Other
Paved Driveway.
Vinyl
Rectangular
37X130
City Road, Rectangular.
Building Details
Year Built
1925
Listing Agency:
Atlas Realty Trading Co LLC
(716) 868-8372
Listed By:
Tamara Mears · License #10401378779
(716) 435-5612
Source:
Xome
Added: Apr 27
Changed: Sep 2
Last Checked: Aug 31 at 12:43PM
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 Atlas Realty Trading Co LLC
Investment Insights
Based on property information with market context.
This Buffalo duplex contains approximately 2,000 square feet across two residential units. The lower residence has three bedrooms, while the upper residence has two bedrooms; each unit includes a full bathroom. The property has received updates and a newer tear-off roof, with vinyl exterior siding and a paved driveway. Built in 1925, the home sits on a rectangular 37X130 lot at 241 Herman Street in Buffalo, NY 14211. Electric, gas, and other air-conditioning service are identified among the interior features. The two-unit layout accommodates an owner-occupant who wants a separate rental residence, or an investor seeking a multi-unit property.
Key Highlights
- Two‑unit duplex with approximately 2,000 square feet
- Lower unit has 3 bedrooms; upper unit has 2 bedrooms
- Each residence includes a full 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
$19,845
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
7.94%
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%
$396,900
$396.9K
Cap Rate 7%
$283,500
$283.5K
Cap Rate 9%
$220,500
$220.5K
Market Conditions
NOI Build-Up for 2,000 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
$30.0K $15.00/SF
− Vacancy
−$1.7K −$0.83/SF
EGI
$28.4K $14.17/SF
− OpEx
−$8.5K −$4.25/SF
NOI
$19.8K $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%
$396,900
Cap Rate 7%
$283,500
Cap Rate 9%
$220,500
Alternative Uses
Best Use
Multifamily LT 5
$283.5K
$248.1K – $330.8K
NOI $19,845 @ 7.0% cap · market cap 7.94%
Second Best
Apartment 5plus
$261.1K
$228.5K – $304.7K
NOI $18,279 @ 7.0% cap · market cap 7.31%
Theoretical Best
Office A
$481.0K
$420.8K – $561.1K
NOI $33,667 @ 7.0% cap · market cap 13.47%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
797
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 - Two residences support owner occupancy alongside rental use on a residential Buffalo street.
Where is this duplex located?
The property is located at 241 Herman Street 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 approximately 2,000 square feet; Lower unit has 3 bedrooms; upper unit has 2 bedrooms; Each residence includes a full bathroom
