Duplex with Heated
New
For Sale
$495,000
278 S Forest Rd, Buffalo, NY 14221
Two residential units include separate living areas, kitchens, and private entrances.
Property Size3,073 SF
Price / SF$161.08
Days on Market4
Property Features for 278 S Forest Rd
General Information
Standard status
Active
Size
3,073 SF
Property subtype
Multi-Family
Site & Location
Highway Access
Yes
Road Access
Yes
Amenities
above ground pool
wet bar
large deck
heated garage
full dry basement
Building Details
Year Built
1880
Buildings
1
Listing Agency:
Keller Williams Realty
Listed By:
Carol Mollach · License #10401250066
(716) 725-9912
Source:
Thejoshjamesteam
Added: Oct 2
Changed: Oct 3
Last Checked: Oct 4 at 1:21PM
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 Keller Williams Realty
Investment Insights
Based on property information with market context.
This 3,073-square-foot duplex, built in 1880, offers two residential units with distinct layouts. The lower level includes a two-bedroom unit with a living room, formal dining room, full bathroom, and wet bar. A separate area on the lower level has a bedroom, living room, kitchenette, and full bathroom. Upstairs, an open living, dining, and kitchen area is paired with a bedroom and full bathroom. Storage is available in the full basement and heated garage, which accommodates more than four cars.
Set on a dead-end street between Main Street and Wehrle Drive, the property has a large deck, an above-ground pool, a spacious yard, and a broad driveway. The location is near the airport, thruway access ramps, parks, shopping, and restaurants.
Set on a dead-end street between Main Street and Wehrle Drive, the property has a large deck, an above-ground pool, a spacious yard, and a broad driveway. The location is near the airport, thruway access ramps, parks, shopping, and restaurants.
Key Highlights
- 3,073 square feet; built in 1880
- Two residential units with separate living areas and kitchens
- Heated garage accommodates 4+ cars
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$30,492
Cap Rate
6.16%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$609,840
$609.8K
Cap Rate 7%
$435,600
$435.6K
Cap Rate 9%
$338,800
$338.8K
Market Conditions
NOI Build-Up for 3,073 SF
Gross rent
$46.1K $15.00/SF
− Vacancy
−$2.5K −$0.83/SF
EGI
$43.6K $14.17/SF
− OpEx
−$13.1K −$4.25/SF
NOI
$30.5K $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%
$609,840
Cap Rate 7%
$435,600
Cap Rate 9%
$338,800
Alternative Uses
Best Use
Multifamily LT 5
$435.6K
$381.2K – $508.2K
NOI $30,492 @ 7.0% cap · market cap 6.16%
Second Best
Apartment 5plus
$401.2K
$351.1K – $468.1K
NOI $28,085 @ 7.0% cap · market cap 5.67%
Theoretical Best
Office A
$739.0K
$646.6K – $862.2K
NOI $51,730 @ 7.0% cap · market cap 10.45%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
Yes
Highway access
Yes
Paved road access
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
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in Northeast region
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Frequently Asked Questions
What type of property is this?
Duplex - Two residential units include separate living areas, kitchens, and private entrances.
Where is this duplex located?
The property is located at 278 S Forest Rd Buffalo, NY.
What is the asking price?
The asking price for this property is $495,000.
What are key features of this property?
This property features: 3,073 square feet; built in 1880; Two residential units with separate living areas and kitchens; Heated garage accommodates 4+ cars
