Two-Unit Residential Income
281 CRESTWOOD AVE Buffalo, NY 14216
281 CRESTWOOD AVE, Buffalo, NY, 14216
$309,900
Pending
For Sale
$309,900
Pending
Duplex with two mirrored units, newer roof, updated plumbing, and remodeled bathrooms, plus fenced yard and 2-car garage.
Property Size2,024 SF
Days on Market114
Property Features for 281 CRESTWOOD AVE
General Information
- Standard status
- Pending
- Size
- 2,024 SF
- Property subtype
- Multi-Family
Building Details
- Year Built
- 1920
Listing agency
Howard Hanna WNY Inc.
(716) 432-7414
Listed by
Mary Lou Mancuso
(716) 432-7414
Source
Xome
Added: Mar 31 Updated: Jul 21 at 9:30PM Checked: Jul 21 at 9:30PM
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 Howard Hanna WNY Inc.
Investment Insights
Based on property information with market context.
This two-unit duplex offers a front-door entry into a foyer serving two mirrored flats. The first-floor layout includes a large living room and expansive dining room, along with a remodeled kitchen with room for dining. The bathroom has been fully gutted and replaced with ceramic tile tub surround, a new vanity, light fixtures, and a comfort toilet. The second-floor flat is described as a mirror image of the first, with original hardwood flooring reportedly under some carpeting. Additional noted improvements include a newer roof, garage siding replacement, deck tear-off and replacement with pressure-treated weather-resistant wood, and newer copper pipes under the first floor. A dry basement is reported with no foundation issues.
The property is located on a private but easily reachable street in North Buffalo, with Hertel Ave described as a short distance away. The home includes a fenced-in yard and a two-car garage and is stated to be in compliance with the City of Buffalo for the next two years from basement to roof. The sale includes two stoves, two refrigerators, one washer, and one dryer. An open house was canceled, and the buyer is to accept the existing survey with an affidavit signed by the sellers that nothing has changed.
The property is located on a private but easily reachable street in North Buffalo, with Hertel Ave described as a short distance away. The home includes a fenced-in yard and a two-car garage and is stated to be in compliance with the City of Buffalo for the next two years from basement to roof. The sale includes two stoves, two refrigerators, one washer, and one dryer. An open house was canceled, and the buyer is to accept the existing survey with an affidavit signed by the sellers that nothing has changed.
Key Highlights
- Duplex with two mirrored units and shared driveway, featuring 2 garage spaces with a concrete driveway
- Newer asphalt roof and vinyl exterior with full fenced yard on a rectangular 34x150 lot
- Updates include newer copper pipes under the 1st floor and other major improvements over the past 3 years
Local Financial Insights For Multifamily LT 5
Simulate Cap Rate and NOI
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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $30.4k | $15.00 |
| − Vacancy | −$1.7k | −$0.83 |
| EGI | $28.7k | $14.17 |
| − OpEx | −$8.6k | −$4.25 |
| NOI | $20.1k | $9.92 |
2,024 SF · lease $15.00/SF/yr · vacancy 5.50% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$286.9K
$251.0K – $334.7K
NOI $20,083 @ 7.0% cap · market cap 6.48%
Second Best
Apartment 5plus
$264.3K
$231.2K – $308.3K
NOI $18,498 @ 7.0% cap · market cap 5.97%
Theoretical Best
Office A
$486.7K
$425.9K – $567.9K
NOI $34,071 @ 7.0% cap · market cap 10.99%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
Duplexes
Similar For Sale Nearby
FAQs
What type of property is this?
Duplex - Duplex with two mirrored units, newer roof, updated plumbing, and remodeled bathrooms, plus fenced yard and 2-car garage.
Where is this duplex located?
The property is located at 281 CRESTWOOD AVE Buffalo, NY.
What is the asking price?
The asking price for this property is $309,900.
What are key features of this property?
This property features: Duplex with two mirrored units and shared driveway, featuring 2 garage spaces with a concrete driveway; Newer asphalt roof and vinyl exterior with full fenced yard on a rectangular 34x150 lot; Updates include newer copper pipes under the 1st floor and other major improvements over the past 3 years
