Traditional Duplex with Covered
For Sale
$424,900
Pending
333 North Drive, Buffalo, NY 14216
Residential, Buffalo, NY
Property Size2,398 SF
Lot Size0.12 Acres
Days on Market50
Property Features for 333 North Drive
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Bedrooms
6
Bathrooms
2
Full bathrooms
2
Rooms
Bedroom 6, Bathroom 1, Bedroom 1, Bedroom 2, Bedroom 5, Bedroom 3, Bedroom 4, Basement, Bathroom 2
Parking features
Garage
Patio and Porch features
Deck, Patio, Porch
Interior features
CeilingFans, NaturalWoodwork, ProgrammableThermostat
Exterior features
Awnings, Balcony, Deck, FullyFenced, Patio
Fencing
Fenced
Fireplace
1
Appliances
GasWaterHeater
Lot features
Near Public Transit, Rectangular, Rectangular Lot, Residential Lot
Elementary school district
Buffalo
Middle school district
Buffalo
High school district
Buffalo
Directions
Head west on Taunton Place from Starin Avenue, turn left on Sterling Avenue, turn left on North Drive, the house will be on your left.
Subdivision
Buffalo City-140200
Standard status
Pending
APN
140200-078-500-0002-044-000
Size
2,398 SF
Lot size
0.12 Acres
Taxes and HOA fees
Tax Annual Amount
3498
Utilities
Heating system
Forced Air, Natural Gas
Water source
Public
Amenities
fireplace
covered porch
rear balcony
stamped concrete patio
pergola
fully-fenced backyard
Building Details
Year built
1928
Floors in Building
2
Number of units
2
Flooring type
Hardwood, Tile, Vinyl, Varies
Building materials
Brick, VinylSiding, CopperPlumbing
Roof type
Shingle
Architectural style
Other
Listing Agency:
Keller Williams Realty WNY
(716) 832-3300
Listed By:
Joshua James · License #10301210944
(716) 697-3280
Added: Jul 2
Changed: Aug 20
Last Checked: Aug 20 at 5:06AM
MLS# B1695007
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 traditional duplex offers two open-concept rental units with abundant natural light and period woodwork with decorative trim. The layout includes a shared sense of arrival through an ornate front entry and vestibule, with a living room featuring a brick surround fireplace and decorative built-ins. Interiors include refinished hardwood flooring in key areas, ceiling fans, and a programmable thermostat.
The lower and upper units each include a kitchen and remodeled bathroom finishes, with multiple bedrooms per unit. Exterior amenities support outdoor use with an outdoor stamped concrete patio with a custom-built pergola, plus an upper covered porch or rear balcony. The property sits on a fully fenced yard and includes a detached two-car garage.
Notable updates include landscaping and paint for 2025–26, a full tear-off roof with 50-year architectural shingles and new gutters in 2017, hot water tanks in 2021 and 2017, and high-efficiency heating upgrades including a Trane furnace in 2022 and a Rheem unit in 2013. The home was built in 1928 and connects to public water. Showings begin 7/8/2026, with offers due Tuesday, 7/14/2026 at 12:00 pm.
The lower and upper units each include a kitchen and remodeled bathroom finishes, with multiple bedrooms per unit. Exterior amenities support outdoor use with an outdoor stamped concrete patio with a custom-built pergola, plus an upper covered porch or rear balcony. The property sits on a fully fenced yard and includes a detached two-car garage.
Notable updates include landscaping and paint for 2025–26, a full tear-off roof with 50-year architectural shingles and new gutters in 2017, hot water tanks in 2021 and 2017, and high-efficiency heating upgrades including a Trane furnace in 2022 and a Rheem unit in 2013. The home was built in 1928 and connects to public water. Showings begin 7/8/2026, with offers due Tuesday, 7/14/2026 at 12:00 pm.
Key Highlights
- Two open‑concept rental units with renovated kitchens and bathrooms
- Covered porch or rear balcony, plus a stamped concrete patio with custom pergola
- Fully fenced backyard with deck, balcony, and awnings
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
$23,794
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
5.60%
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%
$475,880
$475.9K
Cap Rate 7%
$339,914
$339.9K
Cap Rate 9%
$264,378
$264.4K
Market Conditions
NOI Build-Up for 2,398 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
$36.0K $15.00/SF
− Vacancy
−$2.0K −$0.83/SF
EGI
$34.0K $14.17/SF
− OpEx
−$10.2K −$4.25/SF
NOI
$23.8K $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%
$475,880
Cap Rate 7%
$339,914
Cap Rate 9%
$264,378
Alternative Uses
Best Use
Multifamily LT 5
$339.9K
$297.4K – $396.6K
NOI $23,794 @ 7.0% cap · market cap 5.60%
Second Best
Apartment 5plus
$313.1K
$274.0K – $365.3K
NOI $21,916 @ 7.0% cap · market cap 5.16%
Theoretical Best
Office A
$576.7K
$504.6K – $672.8K
NOI $40,367 @ 7.0% cap · market cap 9.50%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
835
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 - Duplex featuring two open-concept rental units, renovated kitchens and baths, and an outdoor patio with fenced backyard.
Where is this duplex located?
The property is located at 333 North Drive Buffalo, NY.
What is the asking price?
The asking price for this property is $424,900.
What are key features of this property?
This property features: Two open‑concept rental units with renovated kitchens and bathrooms; Covered porch or rear balcony, plus a stamped concrete patio with custom pergola; Fully fenced backyard with deck, balcony, and awnings
