Vacant Two-Unit Residential
248 AUBURN AVE Buffalo, NY 14213
248 AUBURN AVE, Buffalo, NY, 14213
$239,900
Pending
For Sale
$239,900
Pending
Two vacant units feature 2- and 3-bedroom layouts with original interior details and updated exterior improvements.
Property Size1,872 SF
Days on Market95
Property Features for 248 AUBURN AVE
General Information
- Standard status
- Pending
- Size
- 1,872 SF
- Property subtype
- Multi-Family
Building Details
- Year Built
- 1900
Listing agency
HUNT Real Estate Corporation
(716) 946-3729
Listed by
Ryan Devin · License #FA100048479,CO
(716) 946-3729
Source
Xome
Added: Apr 20 Updated: Jul 22 at 11:52AM Checked: Jul 22 at 11:52AM
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 HUNT Real Estate Corporation
Investment Insights
Based on property information with market context.
This vacant two-unit property offers a straightforward duplex setup with one 2-bedroom unit and one 3-bedroom unit. Interior features include hardwood floors, classic tile bathrooms, and brick accents that reflect the home’s original character.
Recent major exterior updates include a younger architectural roof, low-maintenance siding, and many updated windows. Off-street parking is also included, adding convenience for tenants and guests.
According to prior rent history, the units were rented at $1,300 and $1,400 per unit. The property is located in Buffalo’s Upper West Side, just minutes from Buffalo State University and the Albright-Knox Art Gallery, with local shops, restaurants, and cultural amenities nearby.
Recent major exterior updates include a younger architectural roof, low-maintenance siding, and many updated windows. Off-street parking is also included, adding convenience for tenants and guests.
According to prior rent history, the units were rented at $1,300 and $1,400 per unit. The property is located in Buffalo’s Upper West Side, just minutes from Buffalo State University and the Albright-Knox Art Gallery, with local shops, restaurants, and cultural amenities nearby.
Key Highlights
- Vacant two‑unit property with 2‑bedroom and 3‑bedroom unit layouts
- Original interior details including hardwood flooring and ceramic tile
- Prior rents were $1,300/$1,400 per unit
Local Financial Insights For Multifamily LT 5
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $28.1k | $15.00 |
| − Vacancy | −$1.5k | −$0.83 |
| EGI | $26.5k | $14.17 |
| − OpEx | −$8.0k | −$4.25 |
| NOI | $18.6k | $9.92 |
1,872 SF · lease $15.00/SF/yr · vacancy 5.50% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$265.4K
$232.2K – $309.6K
NOI $18,575 @ 7.0% cap · market cap 7.74%
Second Best
Apartment 5plus
$244.4K
$213.9K – $285.2K
NOI $17,109 @ 7.0% cap · market cap 7.13%
Theoretical Best
Office A
$450.2K
$393.9K – $525.2K
NOI $31,512 @ 7.0% cap · market cap 13.14%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
Duplexes
Similar For Sale Nearby
FAQs
What type of property is this?
Duplex - Two vacant units feature 2- and 3-bedroom layouts with original interior details and updated exterior improvements.
Where is this duplex located?
The property is located at 248 AUBURN AVE Buffalo, NY.
What is the asking price?
The asking price for this property is $239,900.
What are key features of this property?
This property features: Vacant two‑unit property with 2‑bedroom and 3‑bedroom unit layouts; Original interior details including hardwood flooring and ceramic tile; Prior rents were $1,300/$1,400 per unit
