Duplex with Finished
New
For Sale
$349,900
320 West Avenue, Buffalo, NY 14201
Two residential units include individual kitchen and laundry appliances, with a full bathroom in the finished attic.
Property Size3,208 SF
Days on Market6
Property Features for 320 West Avenue
General Information
Standard status
Active
Size
3,208 SF
Total Parking Spaces
3
Property subtype
Multi Family
Additional Details
Public Transit
Yes
Multifamily Units
2
Taxes and HOA fees
Annual Taxes
$3,847
Building Details
Building Size
3,208 SF
Year Built
1912
Listing Agency:
Howard Hanna WNY Inc
Listed By:
Mary K. Molly Gelsomino · License #10401399368
(716) 713-3810
Source:
Highfallssir
Added: Sep 21
Changed: Sep 24
Last Checked: Sep 26 at 11:46AM
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 Howard Hanna WNY Inc
Investment Insights
Based on property information with market context.
Built in 1912, this duplex has two units with original hardwood and parquet flooring, along with some leaded-glass details. Each unit is equipped with a stove, refrigerator, dishwasher, washer, and dryer. A finished attic includes a full bathroom.
The property also features porches on both floors, a second-floor rear balcony, and driveway parking for three vehicles. Public transportation is close by, as are Kleinhan's, downtown, Elmwood Village, and colleges and universities.
The property also features porches on both floors, a second-floor rear balcony, and driveway parking for three vehicles. Public transportation is close by, as are Kleinhan's, downtown, Elmwood Village, and colleges and universities.
Key Highlights
- Two units, each with a stove, refrigerator, dishwasher, washer, and dryer
- Finished attic with a full bathroom
- Driveway parking for 3 vehicles
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
$31,831
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
9.10%
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%
$636,620
$636.6K
Cap Rate 7%
$454,729
$454.7K
Cap Rate 9%
$353,678
$353.7K
Market Conditions
NOI Build-Up for 3,208 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
$48.1K $15.00/SF
− Vacancy
−$2.6K −$0.83/SF
EGI
$45.5K $14.17/SF
− OpEx
−$13.6K −$4.25/SF
NOI
$31.8K $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%
$636,620
Cap Rate 7%
$454,729
Cap Rate 9%
$353,678
Alternative Uses
Best Use
Multifamily LT 5
$454.7K
$397.9K – $530.5K
NOI $31,831 @ 7.0% cap · market cap 9.10%
Second Best
Apartment 5plus
$418.8K
$366.5K – $488.7K
NOI $29,319 @ 7.0% cap · market cap 8.38%
Theoretical Best
Office A
$771.5K
$675.0K – $900.0K
NOI $54,002 @ 7.0% cap · market cap 15.43%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
1,514
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
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in Northeast region
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Frequently Asked Questions
What type of property is this?
Duplex - Two residential units include individual kitchen and laundry appliances, with a full bathroom in the finished attic.
Where is this duplex located?
The property is located at 320 West Avenue Buffalo, NY.
What is the asking price?
The asking price for this property is $349,900.
What are key features of this property?
This property features: Two units, each with a stove, refrigerator, dishwasher, washer, and dryer; Finished attic with a full bathroom; Driveway parking for 3 vehicles
