Updated Duplex with
For Sale
$364,900
Pending
301 Colvin Avenue, Buffalo, NY 14216
Residential, Buffalo, NY
Property Size2,660 SF
Lot Size0.13 Acres
Days on Market103
Property Features for 301 Colvin Avenue
General Information
Property type
Residential Multi Family
Property subtype
Other
Bedrooms
6
Bathrooms
2
Full bathrooms
2
Rooms
Basement, Bedroom 3, Bedroom 2, Bedroom 6, Bedroom 5, Bathroom 2, Bathroom 1, Bedroom 4, Bedroom 1
Parking features
Garage
Patio and Porch features
Porch
Interior features
NaturalWoodwork
Exterior features
Awnings, Balcony, Fence
Fencing
Fenced
Fireplace
1
Appliances
GasWaterHeater
Lot features
Rectangular, Rectangular Lot, Residential Lot
Elementary school district
Buffalo
Middle school district
Buffalo
High school district
Buffalo
Directions
Hertel to Colvin
Subdivision
Buffalo City-140200
Standard status
Pending
APN
140200-078-650-0002-034-000
Size
2,660 SF
Lot size
0.13 Acres
Taxes and HOA fees
Tax Annual Amount
3809
Utilities
Heating system
Forced Air, Natural Gas
Cooling system
Wall Unit(s), Central Air
Water source
Public
Amenities
covered front porch
rear porch
private back porch
central A/C
attic
basement
Building Details
Year built
1921
Floors in Building
2
Number of units
2
Flooring type
Hardwood, Varies
Building materials
WoodSiding
Architectural style
Other
Listing Agency:
WNY Metro Roberts Realty
(716) 559-9972
Listed By:
Kristina E Krygier · License #10401379654
(716) 983-7461
Added: May 14
Changed: Aug 20
Last Checked: Aug 24 at 8:06PM
MLS# B1681611
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 Buffalo duplex contains 2,660 square feet across two residential units and was built in 1921. The upper residence includes refinished hardwood flooring, an updated bathroom, central A/C, a covered front porch, and a rear porch connected to a bedroom. The lower unit provides additional flexible room, an updated bathroom, and a private back porch. Both units have newer appliances, while the property also offers an expansive attic and full basement.
Major improvements include a renovated kitchen, new drain tiles, upgraded electrical service, a full tear-off roof completed in 2008, and furnace and hot water tank replacements in 2014. Separate utility meters serve the units, with ownership covering water, sewer, and trash. A 2-car garage and additional parking pad provide off-street parking. The property is tenant occupied and located near Hertel Avenue in Buffalo’s 14216 area.
Major improvements include a renovated kitchen, new drain tiles, upgraded electrical service, a full tear-off roof completed in 2008, and furnace and hot water tank replacements in 2014. Separate utility meters serve the units, with ownership covering water, sewer, and trash. A 2-car garage and additional parking pad provide off-street parking. The property is tenant occupied and located near Hertel Avenue in Buffalo’s 14216 area.
Key Highlights
- 2,660‑square‑foot duplex on a 0.1339‑acre lot
- Two tenant‑occupied units with separate utility meters
- 2‑car garage plus an additional parking pad
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
$26,394
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
7.23%
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%
$527,880
$527.9K
Cap Rate 7%
$377,057
$377.1K
Cap Rate 9%
$293,267
$293.3K
Market Conditions
NOI Build-Up for 2,660 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
$39.9K $15.00/SF
− Vacancy
−$2.2K −$0.83/SF
EGI
$37.7K $14.17/SF
− OpEx
−$11.3K −$4.25/SF
NOI
$26.4K $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%
$527,880
Cap Rate 7%
$377,057
Cap Rate 9%
$293,267
Alternative Uses
Best Use
Multifamily LT 5
$377.1K
$329.9K – $439.9K
NOI $26,394 @ 7.0% cap · market cap 7.23%
Second Best
Apartment 5plus
$347.3K
$303.9K – $405.2K
NOI $24,311 @ 7.0% cap · market cap 6.66%
Theoretical Best
Office A
$639.7K
$559.7K – $746.3K
NOI $44,777 @ 7.0% cap · market cap 12.27%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Multi-tenant
Tenancy
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
1,013
Businesses Nearby
Explore this area
Business Placement
Demographics for 14216, NY
22,979
Population
12,773
Households
1.8
Avg Household Size
37
Median Age
54%
College-Educated
94%
High-School Grad
2.8 sq mi
ZIP Area
8,207
Density / Sq Mi
$70,260
Median Household Income
$47,823
Median Earnings
$1,152
Median Rent
$260,700
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 occupied units feature separate utility meters, private porches, and off-street parking.
Where is this duplex located?
The property is located at 301 Colvin Avenue Buffalo, NY.
What is the asking price?
The asking price for this property is $364,900.
What are key features of this property?
This property features: 2,660‑square‑foot duplex on a 0.1339‑acre lot; Two tenant‑occupied units with separate utility meters; 2‑car garage plus an additional parking pad
