Two-Unit Residential Income
29 MELROSE ST Buffalo, NY 14220
For Sale
$209,900
Two-bedroom, one-bath units feature separate gas and electric meters and in-unit laundry hookups.
Property Size1,872 SF
Price / SF$112.13
Days on Market115
Property Features for 29 MELROSE ST
General Information
Standard status
Active
Size
1,872 SF
Property subtype
Multi-Family
Building Details
Year Built
1920
Listing Agency:
HUNT Real Estate Corporation
(716) 512-3425
Listed By:
Brian Hillery · License #10301221944
(716) 512-3425
Source:
Xome
Added: Apr 6
Changed: Jul 22
Last Checked: Jul 29 at 4:17AM
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 Corporation
Investment Insights
Based on property information with market context.
This two-unit duplex offers an income-focused residential layout with both the upper and lower units configured as two bedrooms with one full bathroom. The property has two gas and two electric meters, with utilities paid by tenants. Exterior improvements include vinyl siding designed for lower maintenance, along with glass block windows for added security. A blacktop driveway and laundry hookups in the basement are also included. The roof is described as approximately ten years old.
Showings require 24-hour notice and are available daily from 9:30 AM to 6:00 PM. Offers will be reviewed as they are received.
Each unit provides a straightforward two-bedroom, one-bath configuration with metered utilities and access to basement laundry hookups, supporting an efficient tenant setup within the duplex structure.
Showings require 24-hour notice and are available daily from 9:30 AM to 6:00 PM. Offers will be reviewed as they are received.
Each unit provides a straightforward two-bedroom, one-bath configuration with metered utilities and access to basement laundry hookups, supporting an efficient tenant setup within the duplex structure.
Key Highlights
- Duplex with two‑bedroom, one‑bath units on both upper and lower levels
- Two gas and two electric meters, with utilities paid by tenants
- Vinyl exterior with glass block windows
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 | $28.1k | $15.00 |
| − Vacancy | −$1.5k | −$0.83 |
| EGI | $26.5k | $14.17 |
| − OpEx | −$8.0k | −$4.25 |
| NOI | $18.6k | $9.92 |
1,872 SF · lease $15.00/SF/yr · vacancy 5.50% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$265.4K
$232.2K – $309.6K
NOI $18,575 @ 7.0% cap · market cap 8.85%
Second Best
Apartment 5plus
$244.4K
$213.9K – $285.2K
NOI $17,109 @ 7.0% cap · market cap 8.15%
Theoretical Best
Office A
$450.2K
$393.9K – $525.2K
NOI $31,512 @ 7.0% cap · market cap 15.01%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Location Intelligence
Current Use
Frequently Asked Questions
What type of property is this?
Duplex - Two-bedroom, one-bath units feature separate gas and electric meters and in-unit laundry hookups.
Where is this duplex located?
The property is located at 29 MELROSE ST Buffalo, NY.
What is the asking price?
The asking price for this property is $209,900.
What are key features of this property?
This property features: Duplex with two‑bedroom, one‑bath units on both upper and lower levels; Two gas and two electric meters, with utilities paid by tenants; Vinyl exterior with glass block windows
