Two-Unit Duplex with Leased
For Sale
$399,000
259 North Drive, Buffalo, NY 14216
Two residential units include a currently leased upper-level residence.
Property Size3,036 SF
Days on Market51
Property Features for 259 North Drive
General Information
Standard status
Active
Size
3,036 SF
Property subtype
Multi Family
Units
Unit Mix
2 x 3BR/1BA
Multifamily Units
2
Taxes and HOA fees
Annual Taxes
$4,232
Building Details
Building Size
3,036 SF
Year Built
1930
Listing Agency:
Greco Real Estate.Com
Listed By:
Ava B Eichel · License #10401397030
(716) 348-2967
Source:
Highfallssir
Added: Aug 31
Changed: Oct 14
Last Checked: Oct 19 at 2:25PM
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 Greco Real Estate.Com
Ask AI about this property
Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
Built in 1930, this duplex contains two residential units, each configured with three bedrooms and one bathroom. The property offers a straightforward two-unit layout with substantial living space in both residences.
The upper unit is currently leased, and the property is tenant occupied. Walkthroughs are available by request with 24–48 hours’ notice.
The upper unit is currently leased, and the property is tenant occupied. Walkthroughs are available by request with 24–48 hours’ notice.
Key Highlights
- Two‑unit duplex built in 1930
- Each unit offers 3 bedrooms and 1 bathroom
- Upper unit is currently leased
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$30,125
Cap Rate
7.55%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$602,500
$602.5K
Cap Rate 7%
$430,357
$430.4K
Cap Rate 9%
$334,722
$334.7K
Market Conditions
NOI Build-Up for 3,036 SF
Gross rent
$45.5K $15.00/SF
− Vacancy
−$2.5K −$0.83/SF
EGI
$43.0K $14.17/SF
− OpEx
−$12.9K −$4.25/SF
NOI
$30.1K $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%
$602,500
Cap Rate 7%
$430,357
Cap Rate 9%
$334,722
Alternative Uses
Best Use
Multifamily LT 5
$430.4K
$376.6K – $502.1K
NOI $30,125 @ 7.0% cap · market cap 7.55%
Second Best
Apartment 5plus
$396.4K
$346.8K – $462.5K
NOI $27,747 @ 7.0% cap · market cap 6.95%
Theoretical Best
Office A
$730.1K
$638.8K – $851.8K
NOI $51,107 @ 7.0% cap · market cap 12.81%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Unlock full access to Insights
Subscribe to Realmo Intelligence
Open Analytics
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
791
Businesses Nearby
Explore this area
Business Placement
Demographics for 14216, NY
22,979
Population
12,773
Households
1.8
Avg Household Size
37
Median Age
54%
College-Educated
94%
High-School Grad
2.8 sq mi
ZIP Area
8,207
Density / Sq Mi
$70,260
Median Household Income
$47,823
Median Earnings
$1,152
Median Rent
$260,700
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Multifamily in Northeast region
Frequently Asked Questions
What type of property is this?
Duplex - Two residential units include a currently leased upper-level residence.
Where is this duplex located?
The property is located at 259 North Drive Buffalo, NY.
What is the asking price?
The asking price for this property is $399,000.
What are key features of this property?
This property features: Two‑unit duplex built in 1930; Each unit offers 3 bedrooms and 1 bathroom; Upper unit is currently leased
