Updated 2-Unit Duplex with
For Sale
$349,000
244 Evans St, Buffalo, NY 14221
Two-unit residential income property with a detached garage, basement laundry, storage, and off-street parking.
Property Size2,038 SF
Price / SF$171.25
Days on Market47
Property Features for 244 Evans St
General Information
Standard status
Active
Size
2,038 SF
Property subtype
Multi-Family
Amenities
basement laundry
basement storage
Building Details
Year Built
1955
Tenancy
Multi
Listing Agency:
WNY Metro Roberts Realty
Listed By:
Gina R DuBois · License #10401203791
(716) 578-4386
Source:
Thejoshjamesteam
Added: Sep 14
Changed: Oct 25
Last Checked: Oct 7 at 2:11PM
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
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Investment Insights
Based on property information with market context.
This 2,038-square-foot duplex, built in 1955, offers two residential units with a detached garage and ample off-street parking. The property includes basement laundry and storage, while documented improvements include updated flooring and bathroom work, exterior painting, resurfaced driveway pavement, and refreshed steps.
The lower unit is expected to be vacant, creating flexibility for an owner occupant or continued rental use. Both units have been occupied for extended periods, and the property includes additional basement space for storage and laundry functions.
The lower unit is expected to be vacant, creating flexibility for an owner occupant or continued rental use. Both units have been occupied for extended periods, and the property includes additional basement space for storage and laundry functions.
Key Highlights
- 2,038 SF duplex with two residential units
- Lower unit expected to be vacant for owner occupancy or rental use
- Detached garage and ample off‑street parking
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$20,222
Cap Rate
5.79%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$404,440
$404.4K
Cap Rate 7%
$288,886
$288.9K
Cap Rate 9%
$224,689
$224.7K
Market Conditions
NOI Build-Up for 2,038 SF
Gross rent
$30.6K $15.00/SF
− Vacancy
−$1.7K −$0.83/SF
EGI
$28.9K $14.17/SF
− OpEx
−$8.7K −$4.25/SF
NOI
$20.2K $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 Rate 5%
$404,440
Cap Rate 7%
$288,886
Cap Rate 9%
$224,689
Alternative Uses
Best Use
Multifamily LT 5
$288.9K
$252.8K – $337.0K
NOI $20,222 @ 7.0% cap · market cap 5.79%
Second Best
Apartment 5plus
$266.1K
$232.8K – $310.4K
NOI $18,626 @ 7.0% cap · market cap 5.34%
Theoretical Best
Office A
$490.1K
$428.8K – $571.8K
NOI $34,307 @ 7.0% cap · market cap 9.83%
Zoning and permitted uses should be independently verified with authorities.
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Lease Details
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
2,081
Businesses Nearby
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Business Placement
Demographics for 14221, NY
55,275
Population
25,281
Households
2.2
Avg Household Size
48
Median Age
57%
College-Educated
96%
High-School Grad
23.4 sq mi
ZIP Area
2,362
Density / Sq Mi
$101,275
Median Household Income
$58,665
Median Earnings
$1,560
Median Rent
$298,500
Median Home Value
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Market
Vacancy Rate% for Multifamily in Northeast region
Frequently Asked Questions
What type of property is this?
Duplex - Two-unit residential income property with a detached garage, basement laundry, storage, and off-street parking.
Where is this duplex located?
The property is located at 244 Evans St Buffalo, NY.
What is the asking price?
The asking price for this property is $349,000.
What are key features of this property?
This property features: 2,038 SF duplex with two residential units; Lower unit expected to be vacant for owner occupancy or rental use; Detached garage and ample off‑street parking
