Renovated 2-Unit
For Sale
$359,000
286 Carolina Street, Buffalo, NY 14201
Both residences include private laundry, updated kitchens and baths, and separately metered utilities.
Property Size1,922 SF
Price / SF$186.78
Days on Market104
Property Features for 286 Carolina Street
General Information
Standard status
Active
Size
1,922 SF
Property subtype
Multi Family Home
Site & Location
Neighborhood
Lower West Side
Units
Unit Mix
2 x 2BR
Multifamily Units
2
Individually Metered Utilities
unspecified utilities
Additional Details
Tenant in Place
Yes
Taxes and HOA fees
Annual Taxes
$2,093
Amenities
electric fireplace
designer eat-in kitchen
updated baths
in-unit laundry
luxury vinyl plank flooring
high-efficiency furnaces with central air
Z-Wave smart thermostats
hardwired Ring doorbells/cameras
private fenced rear patio
full basement
full attic
Fully Fenced
Fence
Patio
Building Details
Building Size
1,922 SF
Year Built
1900
Year Renovated
2024
Stories
2
Units
2
Listing Agency:
Keller Williams Realty WNY
(716) 832-3300
Listed By:
John Santora III · License #10401291249
(716) 908-4304
Source:
Franzese-realestate
Added: Jul 17
Changed: Oct 25
Last Checked: Oct 26 at 4:01AM
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
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Investment Insights
Based on property information with market context.
This 1,922-square-foot duplex dates to 1900 and received a full interior renovation in 2024. The property contains two residences, each with two bedrooms, an open living area, an electric fireplace, and a kitchen with quartz counters, custom cabinetry, a center island, and stainless steel appliances. Updated bathrooms, in-unit laundry, and walk-in closets are included in both units.
Mechanical and structural work included new furnaces with central air, hot water tanks, electrical panels, insulation, and sewer and drain lines to the city main. Exterior updates include a replacement roof, vinyl siding, newer windows, and rebuilt stairs and railings. A fenced rear patio, full basement, and attic provide additional usable space.
The property is one block from Elmwood Avenue and minutes from Downtown Buffalo and the Buffalo Niagara Medical Campus. Allentown, Elmwood Village, and Chippewa are also nearby.
Mechanical and structural work included new furnaces with central air, hot water tanks, electrical panels, insulation, and sewer and drain lines to the city main. Exterior updates include a replacement roof, vinyl siding, newer windows, and rebuilt stairs and railings. A fenced rear patio, full basement, and attic provide additional usable space.
The property is one block from Elmwood Avenue and minutes from Downtown Buffalo and the Buffalo Niagara Medical Campus. Allentown, Elmwood Village, and Chippewa are also nearby.
Key Highlights
- Two 2‑bedroom units in a 1,922‑square‑foot duplex
- Full renovation completed in 2024
- Separately metered utilities and private laundry in each unit
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$19,071
Cap Rate
5.31%
Suggested Prices Based on Cap Rates
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
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 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 5.31%
Second Best
Apartment 5plus
$250.9K
$219.6K – $292.8K
NOI $17,566 @ 7.0% cap · market cap 4.89%
Theoretical Best
Office A
$462.2K
$404.4K – $539.2K
NOI $32,354 @ 7.0% cap · market cap 9.01%
Zoning and permitted uses should be independently verified with authorities.
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Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
4,351
Businesses Nearby
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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
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Market
Vacancy Rate% for Multifamily in Northeast region
Frequently Asked Questions
What type of property is this?
Duplex - Both residences include private laundry, updated kitchens and baths, and separately metered utilities.
Where is this duplex located?
The property is located at 286 Carolina Street Buffalo, NY.
What is the asking price?
The asking price for this property is $359,000.
What are key features of this property?
This property features: Two 2‑bedroom units in a 1,922‑square‑foot duplex; Full renovation completed in 2024; Separately metered utilities and private laundry in each unit
