Updated Two-Unit
For Sale
$275,000
Pending
25 PAGE ST, Buffalo, NY 14207
Two three-bedroom units are occupied under month-to-month arrangements.
Property Size2,392 SF
Days on Market155
Property Features for 25 PAGE ST
General Information
Standard status
Pending
Size
2,392 SF
Total Parking Spaces
2
Property subtype
Multi-Family
Occupancy
100%
Units
Unit Mix
2 x 3BR
Multifamily Units
2
Taxes and HOA fees
Annual Taxes
$1,953
Amenities
Gas, Ceiling Fan(s)
Full
3
Hardwood, Tile
Asphalt
Porch, Balcony, Covered
2 Garage Spaces. Garage.
Rectangular
35X104
City Road, Rectangular.
Building Details
Year Built
1920
Buildings
1
Listing Agency:
716 Realty Group WNY LLC
(716) 495-5961
Listed By:
Walaa Kadhum · License #10401363055
(716) 495-5961
Source:
Xome
Added: Mar 31
Changed: Aug 31
Last Checked: Aug 31 at 1:14PM
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 716 Realty Group WNY LLC
Investment Insights
Based on property information with market context.
This two-unit duplex contains 2,392 square feet, with three bedrooms in each residence and layouts that include hardwood and tile finishes. Both apartments are currently rented month to month. Recent capital improvements include a roof replacement completed in 2024 and an updated heating system installed in 2025.
The property also provides a clean, dry basement, a full attic for storage, covered porch and balcony areas, and a two-car garage. Built in 1920 on a 35X104 rectangular lot, the home is situated near shopping, dining, and major routes in Buffalo.
The property also provides a clean, dry basement, a full attic for storage, covered porch and balcony areas, and a two-car garage. Built in 1920 on a 35X104 rectangular lot, the home is situated near shopping, dining, and major routes in Buffalo.
Key Highlights
- 2,392‑square‑foot duplex with two three‑bedroom units
- Both units rented month to month
- New roof completed in 2024
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
$23,735
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
8.63%
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%
$474,700
$474.7K
Cap Rate 7%
$339,071
$339.1K
Cap Rate 9%
$263,722
$263.7K
Market Conditions
NOI Build-Up for 2,392 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
$35.9K $15.00/SF
− Vacancy
−$2.0K −$0.83/SF
EGI
$33.9K $14.17/SF
− OpEx
−$10.2K −$4.25/SF
NOI
$23.7K $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%
$474,700
Cap Rate 7%
$339,071
Cap Rate 9%
$263,722
Alternative Uses
Best Use
Multifamily LT 5
$339.1K
$296.7K – $395.6K
NOI $23,735 @ 7.0% cap · market cap 8.63%
Second Best
Apartment 5plus
$312.3K
$273.3K – $364.4K
NOI $21,861 @ 7.0% cap · market cap 7.95%
Theoretical Best
Office A
$575.2K
$503.3K – $671.1K
NOI $40,266 @ 7.0% cap · market cap 14.64%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
100%
Occupancy
Location Intelligence
Trade Area within ½ mile
1,042
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
Market
Vacancy Rate% for Multifamily in Northeast region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Duplex - Two three-bedroom units are occupied under month-to-month arrangements.
Where is this duplex located?
The property is located at 25 PAGE ST Buffalo, NY.
What is the asking price?
The asking price for this property is $275,000.
What are key features of this property?
This property features: 2,392‑square‑foot duplex with two three‑bedroom units; Both units rented month to month; New roof completed in 2024
