Two-Unit Property Near UB
251 Springville Avenue, Buffalo, NY 14226
MULTI_FAMILY - Other - Buffalo, NY
Property size:
1,659 SFLot size:
0.11 AcresPrice / SF:
$168/SF- Added:
- Mar 9, 2026
- Days on Market:
- 69
- Last Refresh:
- May 16 at 3:06 pm
Property Features for 251 Springville Avenue
General Information
- Property type
- Residential Multi Family
- Property subtype
- Other
- Bedrooms
- 4
- Bathrooms
- 2
- Rooms
- Bedroom 3, Bedroom 4, Bathroom 2, Bedroom 1, Bedroom 2, Bathroom 1, Basement
- Appliances
- GasWaterHeater
- Standard status
- Active
- APN
- 142289-067-800-0002-035-000
- Size
- 1,659 SF
- Lot size
- 0.11 Acres
Taxes and HOA fees
- Tax Annual Amount
- 5402
Utilities
- Heating system
- Forced Air, Natural Gas
- Water source
- Public
Building Details
- Year built
- 1946
- Floors in Building
- 2
- Number of units
- 2
- Flooring type
- Varies, Hardwood, Carpet, Vinyl
- Building materials
- AluminumSiding, Brick
- Architectural style
- Other
Listing agent Christopher Ricci License #10401286662 (716) 880-7022
Listing office WNY Metro Roberts Realty 302 Buffalo Street, cheektowaga, NY (716) 646-6400
Listing date Mar 9, 2026
MLS# B1665479
Listing URL
Copyright © 2026 New York State Alliance of MLSs, LLC. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
HighLights
- Strong Rental Income Potential: Located near UB South, with potential for $700+ per room.
- Well‑Maintained with Updated Mechanicals: Furnaces in excellent condition and hot water tanks only two years old.
- Two Generously Sized Units: Both units feature spacious bedrooms and bathrooms.
- Large Garage: Adds value for storage, parking, or tenant appeal.
- Convenient Amherst Location: Quick access to the city, highways, shopping, and amenities.
- Investment or Owner‑Occupant Opportunity: Suitable for investors or owner‑occupants seeking rental income.
Overview
This well-maintained two-unit property is suitable for investors or owner-occupants seeking rental income to offset mortgage costs. Located minutes from UB South, it offers outstanding rental potential, with similar setups yielding over $700 per room. Both units feature generously sized bedrooms and bathrooms, creating comfortable and rentable living spaces. A large garage adds value and functionality, suitable for storage, parking, or tenant appeal. Major mechanicals are in good condition, with furnaces in excellent condition and hot water tanks just two years old. Cosmetic updates could further enhance its income-producing potential. Situated in a convenient Amherst location, it provides quick access to the city, major highways, shopping, and everyday amenities. The property size is 1659 square feet, situated on a lot of approximately 0.1054 acres.
Financial Insights
Value Estimation Calculated for Multifamily LT 5
Conservative
$182.9K
NOI $16,461 @ 9.00% cap · cautious / downside scenario
Moderate
$235.2K
NOI $16,461 @ 7.00% cap · market / base-case scenario
Aggressive
$329.2K
NOI $16,461 @ 5.00% cap · optimistic / upside scenario
NOI & Cap Rate Calculator
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.
Calculated for Multifamily LT 5
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $24.9k | $15.00 |
| − Vacancy | −$1.4k | −$0.83 |
| EGI | $23.5k | $14.17 |
| − OpEx | −$7.1k | −$4.25 |
| NOI | $16.5k | $9.92 |
1,659 SF · lease $15.00/SF/yr · vacancy 5.50% · expense 30.00%
Alternative Use Scenarios
Best Use
Multifamily LT 5
$235.2K
$205.8K – $274.4K
NOI $16,461 @ 7.0% cap · market cap 5.88%
Second Best
Apartment 5plus
$216.6K
$189.5K – $252.7K
NOI $15,162 @ 7.0% cap · market cap 5.42%
Theoretical Best
Office A
$399.0K
$349.1K – $465.5K
NOI $27,927 @ 7.0% cap · market cap 9.97%
Zoning and permitted uses should be independently verified with local authorities.
Property Profile
Insight Report
Location Intelligence
Current Use by Public Records
Duplexes
Location Insight
- Map
- Local Demand
- City
- Buffalo
- County
- Erie
- State
- New York
- Longitude
- -78.815625
- Latitude
- 42.965671
Nearby Similar for Sale
FAQs
What type of property is this?
Duplex - Well-maintained two-unit property with strong rental income potential.
Where is this duplex located?
The property is located at 251 Springville Avenue Buffalo, NY.
What is the asking price?
The asking price for this property is $279,999.
What are key features of this property?
This property features: Strong Rental Income Potential: Located near UB South, with potential for $700+ per room.; Well‑Maintained with Updated Mechanicals: Furnaces in excellent condition and hot water tanks only two years old.; Two Generously Sized Units: Both units feature spacious bedrooms and bathrooms.
