Duplex With Fenced Triple
For Sale
$174,900
325 Box Avenue, Buffalo, NY 14211
Two separate apartments offer flexible occupancy, with one unit vacant and the other currently occupied.
Property Size1,524 SF
Days on Market15
Property Features for 325 Box Avenue
General Information
Standard status
Active
Size
1,524 SF
Property subtype
Multi Family Home
Zoning
Residential 2 Unit
Units
Unit Mix
1 x 2BR, 1 x 3BR
Multifamily Units
2
Taxes and HOA fees
Annual Taxes
$1,435
Building Details
Building Size
1,524 SF
Year Built
1910
Buildings
1
Stories
2
Units
2
Listing Agency:
Keller Williams Realty WNY
(716) 771-2891
Listed By:
Danielle Buchbinder · License #10301224300
(716) 771-2891
Source:
Northstarwny
Added: Aug 6
Changed: Aug 20
Last Checked: Aug 19 at 3:14PM
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
Investment Insights
Based on property information with market context.
Built in 1910, this two-unit property combines a vacant upper apartment with an occupied lower residence. The upper layout includes a living room with hardwood floors, a large eat-in kitchen, two bedrooms, a full bath, and storage that may accommodate conversion to a third bedroom. The lower unit provides three bedrooms, an eat-in kitchen with original ceiling-height cabinetry, a formal dining room, living room, full bath, and hardwood flooring.
The property includes a shared front porch, basement laundry hookups, two driveways, a parking area, a 1-car garage, shed, and mostly fenced outdoor space across a triple lot. Both apartments have front and side access points. Improvements include replacement windows, plumbing updates, and a new electrical service with updated panels and circuit-breakers. Zoning is Residential 2 Unit.
The property includes a shared front porch, basement laundry hookups, two driveways, a parking area, a 1-car garage, shed, and mostly fenced outdoor space across a triple lot. Both apartments have front and side access points. Improvements include replacement windows, plumbing updates, and a new electrical service with updated panels and circuit-breakers. Zoning is Residential 2 Unit.
Key Highlights
- Two‑unit property with a vacant upper apartment and occupied lower unit
- Mostly fenced triple lot with two driveways and a parking area
- Upper unit includes 2 bedrooms, hardwood floors, eat‑in kitchen, full bath, 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
$15,122
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
8.65%
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%
$302,440
$302.4K
Cap Rate 7%
$216,029
$216.0K
Cap Rate 9%
$168,022
$168.0K
Market Conditions
NOI Build-Up for 1,524 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
$22.9K $15.00/SF
− Vacancy
−$1.3K −$0.83/SF
EGI
$21.6K $14.17/SF
− OpEx
−$6.5K −$4.25/SF
NOI
$15.1K $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 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%
$302,440
Cap Rate 7%
$216,029
Cap Rate 9%
$168,022
Alternative Uses
Best Use
Multifamily LT 5
$216.0K
$189.0K – $252.0K
NOI $15,122 @ 7.0% cap · market cap 8.65%
Second Best
Apartment 5plus
$199.0K
$174.1K – $232.1K
NOI $13,928 @ 7.0% cap · market cap 7.96%
Theoretical Best
Office A
$366.5K
$320.7K – $427.6K
NOI $25,654 @ 7.0% cap · market cap 14.67%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
521
Businesses Nearby
Explore this area
Business Placement
Demographics for 14211, NY
26,449
Population
11,498
Households
2.3
Avg Household Size
32
Median Age
15%
College-Educated
84%
High-School Grad
3.9 sq mi
ZIP Area
6,782
Density / Sq Mi
$34,490
Median Household Income
$30,705
Median Earnings
$1,008
Median Rent
$91,600
Median Home Value
Market
Vacancy Rate% for Multifamily in Northeast region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Duplex - Two separate apartments offer flexible occupancy, with one unit vacant and the other currently occupied.
Where is this duplex located?
The property is located at 325 Box Avenue Buffalo, NY.
What is the asking price?
The asking price for this property is $174,900.
What are key features of this property?
This property features: Two‑unit property with a vacant upper apartment and occupied lower unit; Mostly fenced triple lot with two driveways and a parking area; Upper unit includes 2 bedrooms, hardwood floors, eat‑in kitchen, full bath, and storage
