Vacant Two-Unit
New
For Sale
$184,900
284 Hazelwood Avenue, Buffalo, NY 14215
Each residence offers two bedrooms, a living room, dining room, kitchen, and full bathroom.
Property Size1,539 SF
Days on Market6
Property Features for 284 Hazelwood Avenue
General Information
Standard status
Active
Size
1,539 SF
Property subtype
Duplex
Site & Location
Highway Access
Yes
Public Transit
Yes
Units
Unit Mix
2 x 2BR/1BA
Multifamily Units
2
Taxes and HOA fees
Annual Taxes
$1,707
Building Details
Building Size
1,539 SF
Year Built
1917
Listing Agency:
HUNT Real Estate ERA
(347) 968-4231
Listed By:
Md Nazmul Hussain · License #10401369637
(347) 968-4231
Source:
Highfallssir
Added: Aug 24
Changed: Aug 28
Last Checked: Aug 28 at 8:54PM
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 vacant duplex contains two residential units, each arranged with two bedrooms, a living room, formal dining room, kitchen, and full bathroom. A partial basement adds storage and utility space. Both units are currently unoccupied, allowing access for showings and supporting either immediate occupancy or rental use.
Constructed in 1917, the property is located in Buffalo, NY, near shopping, restaurants, parks, public transportation, and major highways. Its two-unit configuration provides a straightforward multifamily layout for an owner-occupant or investor seeking residential income property.
Constructed in 1917, the property is located in Buffalo, NY, near shopping, restaurants, parks, public transportation, and major highways. Its two-unit configuration provides a straightforward multifamily layout for an owner-occupant or investor seeking residential income property.
Key Highlights
- Two‑unit duplex with both residences vacant
- Each unit includes 2 bedrooms and 1 full bathroom
- Living room, formal dining room, and kitchen in each unit
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
$15,271
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
8.26%
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%
$305,420
$305.4K
Cap Rate 7%
$218,157
$218.2K
Cap Rate 9%
$169,678
$169.7K
Market Conditions
NOI Build-Up for 1,539 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
$23.1K $15.00/SF
− Vacancy
−$1.3K −$0.83/SF
EGI
$21.8K $14.17/SF
− OpEx
−$6.5K −$4.25/SF
NOI
$15.3K $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%
$305,420
Cap Rate 7%
$218,157
Cap Rate 9%
$169,678
Alternative Uses
Best Use
Multifamily LT 5
$218.2K
$190.9K – $254.5K
NOI $15,271 @ 7.0% cap · market cap 8.26%
Second Best
Apartment 5plus
$200.9K
$175.8K – $234.4K
NOI $14,065 @ 7.0% cap · market cap 7.61%
Theoretical Best
Office A
$370.1K
$323.8K – $431.8K
NOI $25,907 @ 7.0% cap · market cap 14.01%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
533
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 - Each residence offers two bedrooms, a living room, dining room, kitchen, and full bathroom.
Where is this duplex located?
The property is located at 284 Hazelwood Avenue Buffalo, NY.
What is the asking price?
The asking price for this property is $184,900.
What are key features of this property?
This property features: Two‑unit duplex with both residences vacant; Each unit includes 2 bedrooms and 1 full bathroom; Living room, formal dining room, and kitchen in each unit
