Duplex with Detached
For Sale
$229,900
253 Hagen Street, Buffalo, NY 14215
Two-unit property with flexible storage, off-street parking, and forced air heating throughout.
Property Size1,640 SF
Lot Size0.14 Acres
Days on Market17
Property Features for 253 Hagen Street
General Information
Standard status
Active
Size
1,640 SF
Lot size
0.14 Acres
Property subtype
Duplex
Units
Unit Mix
2 x 2BR/1BA
Multifamily Units
2
Taxes and HOA fees
Annual Taxes
$1,164
Amenities
full basement
full attic
Building Details
Building Size
1,640 SF
Year Built
1875
Listing Agency:
HUNT Real Estate ERA
(347) 968-4231
Listed By:
Md Nazmul Hussain · License #10401369637
(347) 968-4231
Source:
Highfallssir
Added: Aug 6
Changed: Aug 21
Last Checked: Aug 22 at 12:15PM
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 ERA
Investment Insights
Based on property information with market context.
This duplex contains two residential units, each arranged with 2 bedrooms, a living room, formal dining room, large kitchen, and full bathroom. A full basement and full attic provide additional storage and flexible interior space, while the detached garage supports off-street parking. The property has a vinyl exterior and forced air heating throughout.
Set on a 6,180 sq ft lot at 253 Hagen Street in Buffalo, NY 14215, the property is located in the Schiller Park neighborhood with access to schools, transportation, and nearby amenities. Built in 1875, the building offers a two-unit configuration with substantial supporting space and a detached parking improvement.
Set on a 6,180 sq ft lot at 253 Hagen Street in Buffalo, NY 14215, the property is located in the Schiller Park neighborhood with access to schools, transportation, and nearby amenities. Built in 1875, the building offers a two-unit configuration with substantial supporting space and a detached parking improvement.
Key Highlights
- Two residential units, each with 2 bedrooms and a full bathroom
- Each unit includes a living room, formal dining room, and large kitchen
- Full basement and full attic provide additional storage and flexible space
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
$16,273
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
7.08%
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%
$325,460
$325.5K
Cap Rate 7%
$232,471
$232.5K
Cap Rate 9%
$180,811
$180.8K
Market Conditions
NOI Build-Up for 1,640 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
$24.6K $15.00/SF
− Vacancy
−$1.4K −$0.83/SF
EGI
$23.2K $14.17/SF
− OpEx
−$7.0K −$4.25/SF
NOI
$16.3K $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%
$325,460
Cap Rate 7%
$232,471
Cap Rate 9%
$180,811
Alternative Uses
Best Use
Multifamily LT 5
$232.5K
$203.4K – $271.2K
NOI $16,273 @ 7.0% cap · market cap 7.08%
Second Best
Apartment 5plus
$214.1K
$187.4K – $249.8K
NOI $14,989 @ 7.0% cap · market cap 6.52%
Theoretical Best
Office A
$394.4K
$345.1K – $460.1K
NOI $27,607 @ 7.0% cap · market cap 12.01%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
622
Businesses Nearby
Explore this area
Business Placement
Demographics for 14215, NY
42,447
Population
19,203
Households
2.2
Avg Household Size
33
Median Age
19%
College-Educated
87%
High-School Grad
4.8 sq mi
ZIP Area
8,843
Density / Sq Mi
$43,326
Median Household Income
$29,204
Median Earnings
$993
Median Rent
$102,800
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-unit property with flexible storage, off-street parking, and forced air heating throughout.
Where is this duplex located?
The property is located at 253 Hagen Street Buffalo, NY.
What is the asking price?
The asking price for this property is $229,900.
What are key features of this property?
This property features: Two residential units, each with 2 bedrooms and a full bathroom; Each unit includes a living room, formal dining room, and large kitchen; Full basement and full attic provide additional storage and flexible space
