Two-Unit
For Sale
$279,000
332 Parkridge Avenue, Buffalo, NY 14215
Residential, Buffalo, NY
Property Size2,184 SF
Lot Size0.08 Acres
Price / SF$127.75
Days on Market111
Property Features for 332 Parkridge Avenue
General Information
Property type
Residential Multi Family
Property subtype
Other
Bedrooms
6
Bathrooms
2
Full bathrooms
2
Rooms
Bathroom 1, Bedroom 6, Bedroom 5, Basement, Bedroom 3, Bedroom 2, Bathroom 2, Bedroom 1, Bedroom 4
Parking features
Garage
Appliances
GasWaterHeater
Subdivision
Park Rdg Ave
Lot features
Near Public Transit, Rectangular, Rectangular Lot, Residential Lot
Elementary school district
Buffalo
Middle school district
Buffalo
High school district
Buffalo
Standard status
Active
APN
140200-079-790-0008-013-000
Size
2,184 SF
Lot size
0.08 Acres
Taxes and HOA fees
Tax Annual Amount
1199
Utilities
Heating system
Natural Gas, Forced Air
Water source
Public
Building Details
Year built
1929
Floors in Building
2
Number of units
2
Flooring type
Hardwood, Vinyl, Varies
Building materials
Brick, Frame
Listing Agency:
Keller Williams Realty WNY
(716) 832-3300
Listed By:
Shirajum Monira · License #10401363530
(929) 326-4912
Added: Jun 13
Changed: Oct 1
Last Checked: Oct 1 at 8:06PM
MLS# B1683772
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 1929 duplex contains two three-bedroom residences, each with its own kitchen, bathroom, living area, and dining space. The first-floor home is vacant, while the upper residence is occupied by a tenant. The upper unit has received fresh paint and includes vinyl flooring throughout; flooring elsewhere includes hardwood and varies by area. A private entrance serves the second-floor unit.
The brick-and-frame property encompasses 2,184 square feet on a 0.0819-acre lot. Additional features include a basement, garage parking, perimeter fencing, public water service, natural-gas forced-air heat, and a gas water heater. The property is in Buffalo near the University South Campus, with shopping, dining, and public transportation identified in the surrounding area.
The brick-and-frame property encompasses 2,184 square feet on a 0.0819-acre lot. Additional features include a basement, garage parking, perimeter fencing, public water service, natural-gas forced-air heat, and a gas water heater. The property is in Buffalo near the University South Campus, with shopping, dining, and public transportation identified in the surrounding area.
Key Highlights
- Two three‑bedroom residences within a duplex
- 2,184 square feet on a 0.0819‑acre lot
- First‑floor unit is vacant; second‑floor unit is tenant‑occupied
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
$21,671
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
7.77%
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%
$433,420
$433.4K
Cap Rate 7%
$309,586
$309.6K
Cap Rate 9%
$240,789
$240.8K
Market Conditions
NOI Build-Up for 2,184 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
$32.8K $15.00/SF
− Vacancy
−$1.8K −$0.83/SF
EGI
$31.0K $14.17/SF
− OpEx
−$9.3K −$4.25/SF
NOI
$21.7K $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%
$433,420
Cap Rate 7%
$309,586
Cap Rate 9%
$240,789
Alternative Uses
Best Use
Multifamily LT 5
$309.6K
$270.9K – $361.2K
NOI $21,671 @ 7.0% cap · market cap 7.77%
Second Best
Apartment 5plus
$285.1K
$249.5K – $332.7K
NOI $19,960 @ 7.0% cap · market cap 7.15%
Theoretical Best
Office A
$525.2K
$459.6K – $612.8K
NOI $36,765 @ 7.0% cap · market cap 13.18%
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
1,085
Businesses Nearby
Explore this area
Business Placement
Demographics for 14215, NY
42,447
Population
19,203
Households
2.2
Avg Household Size
33
Median Age
19%
College-Educated
87%
High-School Grad
4.8 sq mi
ZIP Area
8,843
Density / Sq Mi
$43,326
Median Household Income
$29,204
Median Earnings
$993
Median Rent
$102,800
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Multifamily in Northeast region
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Frequently Asked Questions
What type of property is this?
Duplex - Six-bedroom property with one vacant residence and one leased residence, offering separate living spaces and flexible occupancy.
Where is this duplex located?
The property is located at 332 Parkridge Avenue Buffalo, NY.
What is the asking price?
The asking price for this property is $279,000.
What are key features of this property?
This property features: Two three‑bedroom residences within a duplex; 2,184 square feet on a 0.0819‑acre lot; First‑floor unit is vacant; second‑floor unit is tenant‑occupied
