Updated Side-by-Side
For Sale
$425,000
260 S Forest Rd, Buffalo, NY 14221
Two separate fenced yards provide private outdoor space for each residence.
Property Size2,754 SF
Price / SF$154.32
Days on Market15
Property Features for 260 S Forest Rd
General Information
Standard status
Active
Size
2,754 SF
Property subtype
Multi-Family
Units
Unit Mix
2 x 2BR
Multifamily Units
2
Amenities
outdoor fireplace
fenced yard
patio
Building Details
Year Built
1945
Listing Agency:
WNY Metro Roberts Realty
(716) 602-9708
Listed By:
David M Witczak · License #40WI1033093
Source:
Thejoshjamesteam
Added: Aug 17
Changed: Aug 30
Last Checked: Aug 30 at 7:24PM
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 WNY Metro Roberts Realty
Investment Insights
Based on property information with market context.
This 2,754-square-foot duplex, built in 1945, is configured with two side-by-side 2-bedroom residences on one lot. Both units have updated kitchens and bathrooms with modern finishes, and the appliances remain with the property. One residence includes two full bathrooms, while the basement provides an additional half bathroom for each unit. Functional fireplaces add character, and each side has its own fenced yard. Recent improvements include two high-efficiency boilers installed in 2020, glass block windows added in 2020, and a patio completed in 2021. An outdoor fireplace creates another gathering area. The property is in the Williamsville School District and is located near colleges, shopping, dining, and major routes. The address is 260 S Forest Rd, Buffalo, NY 14221.
Key Highlights
- Two side‑by‑side 2‑bedroom units on a single lot
- 2,754 square feet; built in 1945
- Updated kitchens and bathrooms in both units
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
$27,327
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
6.43%
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%
$546,540
$546.5K
Cap Rate 7%
$390,386
$390.4K
Cap Rate 9%
$303,633
$303.6K
Market Conditions
NOI Build-Up for 2,754 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
$41.3K $15.00/SF
− Vacancy
−$2.3K −$0.83/SF
EGI
$39.0K $14.17/SF
− OpEx
−$11.7K −$4.25/SF
NOI
$27.3K $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%
$546,540
Cap Rate 7%
$390,386
Cap Rate 9%
$303,633
Alternative Uses
Best Use
Multifamily LT 5
$390.4K
$341.6K – $455.5K
NOI $27,327 @ 7.0% cap · market cap 6.43%
Second Best
Apartment 5plus
$359.6K
$314.6K – $419.5K
NOI $25,170 @ 7.0% cap · market cap 5.92%
Theoretical Best
Office A
$662.3K
$579.5K – $772.7K
NOI $46,360 @ 7.0% cap · market cap 10.91%
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
672
Businesses Nearby
Explore this area
Business Placement
Demographics for 14221, NY
55,275
Population
25,281
Households
2.2
Avg Household Size
48
Median Age
57%
College-Educated
96%
High-School Grad
23.4 sq mi
ZIP Area
2,362
Density / Sq Mi
$101,275
Median Household Income
$58,665
Median Earnings
$1,560
Median Rent
$298,500
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 separate fenced yards provide private outdoor space for each residence.
Where is this duplex located?
The property is located at 260 S Forest Rd Buffalo, NY.
What is the asking price?
The asking price for this property is $425,000.
What are key features of this property?
This property features: Two side‑by‑side 2‑bedroom units on a single lot; 2,754 square feet; built in 1945; Updated kitchens and bathrooms in both units
