Brick Duplex with Two-Car
New
For Sale
$424,900
334 Summer Street, Buffalo, NY 14222
All-brick residential property with separate utilities, basement laundry hookups, and partially fenced outdoor space.
Property Size4,052 SF
Days on Market7
Property Features for 334 Summer Street
General Information
Standard status
Active
Size
4,052 SF
Total Parking Spaces
2
Property subtype
Duplex
Property Condition
Severity
Minor
Evidence
TLC
Additional Details
Utilities to Site
Yes
Multifamily Units
2
Taxes and HOA fees
Annual Taxes
$5,836
Amenities
fireplace
sunroom
storage attic
basement laundry hookups
partially fenced backyard
Building Details
Building Size
4,052 SF
Year Built
1930
Buildings
1
Stories
3
Construction
brick
Listing Agency:
WNY Metro Roberts Realty
(716) 225-5503
Listed By:
Kenneth J Hickok · License #10401213668
(716) 225-5503
Source:
Highfallssir
Added: Aug 8
Changed: Aug 14
Last Checked: Aug 14 at 12:43PM
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 WNY Metro Roberts Realty
Investment Insights
Based on property information with market context.
This all-brick duplex provides over 4,000 sq. ft. across a two-family layout with 6 bedrooms and 3 full baths. The first-floor residence includes an updated kitchen with Corian countertops, hardwood flooring through much of the unit, a fireplace-equipped living room, dining area, front sunroom, office space, and a window-lined rear sitting room. The second-floor unit offers an updated kitchen, separate dining room, hardwood flooring in the living and dining rooms, a fireplace, office space, and another rear sitting room. Two additional bedrooms, a bathroom, and a large storage attic occupy the third floor.
Separate gas and electric utilities, basement laundry hookups, off-street parking, a 2-car garage, and a partially fenced backyard add practical functionality. The property is located at 334 Summer Street in Buffalo, between Richmond and Elmwood Avenues, near surrounding shops, restaurants, and neighborhood amenities. Built in 1930, it offers a substantial residential configuration with multiple living areas and storage space.
Separate gas and electric utilities, basement laundry hookups, off-street parking, a 2-car garage, and a partially fenced backyard add practical functionality. The property is located at 334 Summer Street in Buffalo, between Richmond and Elmwood Avenues, near surrounding shops, restaurants, and neighborhood amenities. Built in 1930, it offers a substantial residential configuration with multiple living areas and storage space.
Key Highlights
- Over 4,000 sq. ft. all‑brick duplex with 6 bedrooms and 3 full baths
- First‑floor unit includes updated kitchen with Corian countertops, fireplace, sunroom, office, and rear sitting room
- Second‑floor unit features updated kitchen, separate dining room, hardwood floors, fireplace, office, and rear sitting room
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
$37,033
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
8.72%
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%
$740,660
$740.7K
Cap Rate 7%
$529,043
$529.0K
Cap Rate 9%
$411,478
$411.5K
Market Conditions
NOI Build-Up for 4,052 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
$70.5K $17.40/SF
− Vacancy
−$3.2K −$0.78/SF
EGI
$67.3K $16.62/SF
− OpEx
−$30.3K −$7.48/SF
NOI
$37.0K $9.14/SF
Area
Buffalo, NY
Vacancy
4.50%
Lease Rate
$17.40 /SF/Yr
Expense Ratio
45.00%
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%
$740,660
Cap Rate 7%
$529,043
Cap Rate 9%
$411,478
Alternative Uses
Best Use
Multifamily LT 5
$574.4K
$502.6K – $670.1K
NOI $40,206 @ 7.0% cap · market cap 9.46%
Second Best
Apartment 5plus
$529.0K
$462.9K – $617.2K
NOI $37,033 @ 7.0% cap · market cap 8.72%
Theoretical Best
Office A
$974.4K
$852.6K – $1.14M
NOI $68,210 @ 7.0% cap · market cap 16.05%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
2,452
Businesses Nearby
Explore this area
Business Placement
Demographics for 14222, NY
13,629
Population
7,355
Households
1.9
Avg Household Size
32
Median Age
63%
College-Educated
98%
High-School Grad
1.2 sq mi
ZIP Area
11,358
Density / Sq Mi
$83,692
Median Household Income
$50,045
Median Earnings
$1,168
Median Rent
$408,100
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 - All-brick residential property with separate utilities, basement laundry hookups, and partially fenced outdoor space.
Where is this duplex located?
The property is located at 334 Summer Street 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: Over 4,000 sq. ft. all‑brick duplex with 6 bedrooms and 3 full baths; First‑floor unit includes updated kitchen with Corian countertops, fireplace, sunroom, office, and rear sitting room; Second‑floor unit features updated kitchen, separate dining room, hardwood floors, fireplace, office, and rear sitting room
