Brick-and-Vinyl Duplex
For Sale
$379,900
Pending
3 Joseph Street, Buffalo, NY 14225
Residential, Buffalo, NY
Property Size1,846 SF
Lot Size0.17 Acres
Days on Market93
Property Features for 3 Joseph Street
General Information
Property type
Residential Multi Family
Property subtype
Other
Bedrooms
4
Bathrooms
3
Full bathrooms
3
Rooms
Basement, Bathroom 3, Bedroom 3, Bedroom 2, Bathroom 2, Bathroom 1, Bedroom 4, Bedroom 1
Parking features
Open, Garage
Patio and Porch features
Porch
Interior features
Storage
Exterior features
Fence, Porch
Fencing
Fenced
Appliances
GasWaterHeater
Subdivision
Holland Land Company's Su
Lot features
Near Public Transit, Rectangular, Rectangular Lot, Residential Lot
Elementary school district
Cheektowaga
Middle school district
Cheektowaga
High school district
Cheektowaga
Standard status
Pending
APN
143089-102-080-0009-005-000
Size
1,846 SF
Lot size
0.17 Acres
Taxes and HOA fees
Tax Annual Amount
7951
Utilities
Heating system
Other (Heating), Baseboard, Natural Gas
Water source
Public
Amenities
finished basement
Building Details
Year built
1962
Floors in Building
2
Number of units
2
Flooring type
Hardwood, Varies, Vinyl, Tile
Building materials
Brick, VinylSiding
Roof type
Shingle
Additional Structures
Storage
Listing Agency:
Keller Williams Realty WNY
(716) 832-3300
Listed By:
MD Zahid Al Mamun · License #10401401589
(347) 357-4253
Added: May 20
Changed: Aug 20
Last Checked: Aug 20 at 5:06AM
MLS# B1683346
Copyright © 2026 New York State Alliance of MLSs, LLC. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This 1,846-square-foot duplex ranch, built in 1962, contains two residential units with a combined four bedrooms and three full bathrooms. Each unit includes a living room, kitchen or dining area, two bedrooms, and a full bath. The property also features a finished basement with an office or hobby room, full bathroom, and storage, along with an attached two-car garage, porch, fenced yard, hardwood, vinyl, and tile flooring, and a shingle roof. Brick and vinyl siding complete the exterior.
Located at 3 Joseph Street in Buffalo, the property is near the Buffalo Niagara International Airport, dining, shopping, and Route 33. Public water, natural gas service, baseboard heating, and a gas water heater are included among the property systems and features.
Located at 3 Joseph Street in Buffalo, the property is near the Buffalo Niagara International Airport, dining, shopping, and Route 33. Public water, natural gas service, baseboard heating, and a gas water heater are included among the property systems and features.
Key Highlights
- Two‑unit duplex with a combined four bedrooms and three full bathrooms
- 1,846 square feet on a 0.17‑acre lot
- Finished basement includes an office/hobby room, full bathroom, and storage
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
$18,317
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
4.82%
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%
$366,340
$366.3K
Cap Rate 7%
$261,671
$261.7K
Cap Rate 9%
$203,522
$203.5K
Market Conditions
NOI Build-Up for 1,846 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
$27.7K $15.00/SF
− Vacancy
−$1.5K −$0.83/SF
EGI
$26.2K $14.17/SF
− OpEx
−$7.9K −$4.25/SF
NOI
$18.3K $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%
$366,340
Cap Rate 7%
$261,671
Cap Rate 9%
$203,522
Alternative Uses
Best Use
Multifamily LT 5
$261.7K
$229.0K – $305.3K
NOI $18,317 @ 7.0% cap · market cap 4.82%
Second Best
Apartment 5plus
$241.0K
$210.9K – $281.2K
NOI $16,871 @ 7.0% cap · market cap 4.44%
Theoretical Best
Office A
$443.9K
$388.4K – $517.9K
NOI $31,075 @ 7.0% cap · market cap 8.18%
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
636
Businesses Nearby
Explore this area
Business Placement
Demographics for 14225, NY
34,066
Population
16,253
Households
2.1
Avg Household Size
41
Median Age
29%
College-Educated
93%
High-School Grad
11.5 sq mi
ZIP Area
2,962
Density / Sq Mi
$65,562
Median Household Income
$44,408
Median Earnings
$937
Median Rent
$154,500
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 residential units offer flexible living arrangements with shared basement, garage, porch, and fenced outdoor space.
Where is this duplex located?
The property is located at 3 Joseph Street Buffalo, NY.
What is the asking price?
The asking price for this property is $379,900.
What are key features of this property?
This property features: Two‑unit duplex with a combined four bedrooms and three full bathrooms; 1,846 square feet on a 0.17‑acre lot; Finished basement includes an office/hobby room, full bathroom, and storage
