Renovated Two-Unit
For Sale
$365,000
286 Carolina St, Buffalo, NY 14201
Two updated apartments offer flexible residential income or owner-occupancy use with enhanced finishes and private outdoor areas.
Property Size1,922 SF
Price / SF$189.91
Days on Market38
Property Features for 286 Carolina St
General Information
Standard status
Active
Size
1,922 SF
Property subtype
Multi-Family
Additional Details
Multifamily Units
2
Amenities
covered porch
back patio
landscaping
privacy fencing
smart lock technology
smart thermostats
Ring doorbells & cameras
shared basement
in-unit laundry
Building Details
Year Built
1900
Buildings
1
Listing Agency:
Keller Williams Realty WNY
Listed By:
John Santora III · License #10401291249
(716) 908-4304
Source:
Thejoshjamesteam
Added: Jul 27
Changed: Sep 2
Last Checked: Sep 1 at 10:15PM
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 WNY
Investment Insights
Based on property information with market context.
This 1,922-square-foot duplex, built in 1900, contains two renovated apartments with matching two-bedroom layouts. Both units feature open living areas, electric fireplaces, luxury vinyl plank flooring, LED lighting, quartz kitchen countertops, center islands, custom cabinetry, stainless steel appliances, and updated bathrooms with tiled showers, marble flooring, glass doors, and LED mirrors. Each apartment also includes a designated stackable laundry unit with cabinetry, quartz counters, and a sink.
Exterior improvements include newer windows and doors with smart-lock technology, newer siding, aluminum trim, landscaping, concrete walkways, and a seven-year-old roof. The first-floor unit has a covered porch, while the second floor connects to a lower rear patio with privacy fencing. Updated mechanical systems include high-efficiency furnaces, new AC units, hot water tanks, plumbing, electrical panels, smart thermostats, and hard-wired Ring doorbells and cameras. A shared basement provides storage. The property is located at 286 Carolina St in Buffalo, near Allentown, Elmwood Avenue, Downtown Buffalo, Chippewa Street, and the Buffalo Niagara Medical Campus.
Exterior improvements include newer windows and doors with smart-lock technology, newer siding, aluminum trim, landscaping, concrete walkways, and a seven-year-old roof. The first-floor unit has a covered porch, while the second floor connects to a lower rear patio with privacy fencing. Updated mechanical systems include high-efficiency furnaces, new AC units, hot water tanks, plumbing, electrical panels, smart thermostats, and hard-wired Ring doorbells and cameras. A shared basement provides storage. The property is located at 286 Carolina St in Buffalo, near Allentown, Elmwood Avenue, Downtown Buffalo, Chippewa Street, and the Buffalo Niagara Medical Campus.
Key Highlights
- Two‑unit duplex with 1,922 square feet and two two‑bedroom apartments
- Renovated kitchens with Zodiac quartz counters, tile backsplashes, center islands, custom cabinetry, and stainless steel appliances
- Updated systems include high‑efficiency furnaces, new AC units, hot water tanks, plumbing, and electrical panels
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
$19,071
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
5.22%
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%
$381,420
$381.4K
Cap Rate 7%
$272,443
$272.4K
Cap Rate 9%
$211,900
$211.9K
Market Conditions
NOI Build-Up for 1,922 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
$28.8K $15.00/SF
− Vacancy
−$1.6K −$0.83/SF
EGI
$27.2K $14.17/SF
− OpEx
−$8.2K −$4.25/SF
NOI
$19.1K $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 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%
$381,420
Cap Rate 7%
$272,443
Cap Rate 9%
$211,900
Alternative Uses
Best Use
Multifamily LT 5
$272.4K
$238.4K – $317.9K
NOI $19,071 @ 7.0% cap · market cap 5.22%
Second Best
Apartment 5plus
$250.9K
$219.6K – $292.8K
NOI $17,566 @ 7.0% cap · market cap 4.81%
Theoretical Best
Office A
$462.2K
$404.4K – $539.2K
NOI $32,354 @ 7.0% cap · market cap 8.86%
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
4,351
Businesses Nearby
Explore this area
Business Placement
Demographics for 14201, NY
12,364
Population
7,172
Households
1.7
Avg Household Size
33
Median Age
39%
College-Educated
84%
High-School Grad
1.1 sq mi
ZIP Area
11,240
Density / Sq Mi
$34,204
Median Household Income
$34,081
Median Earnings
$953
Median Rent
$327,900
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 updated apartments offer flexible residential income or owner-occupancy use with enhanced finishes and private outdoor areas.
Where is this duplex located?
The property is located at 286 Carolina St Buffalo, NY.
What is the asking price?
The asking price for this property is $365,000.
What are key features of this property?
This property features: Two‑unit duplex with 1,922 square feet and two two‑bedroom apartments; Renovated kitchens with Zodiac quartz counters, tile backsplashes, center islands, custom cabinetry, and stainless steel appliances; Updated systems include high‑efficiency furnaces, new AC units, hot water tanks, plumbing, and electrical panels
