Renovated
For Sale
$239,900
339 Hampshire Street, Buffalo, NY 14213
Two updated apartments offer flexible living arrangements with convenient access to neighborhood shopping, dining, and public transportation.
Property Size2,342 SF
Days on Market15
Property Features for 339 Hampshire Street
General Information
Standard status
Active
Size
2,342 SF
Property subtype
Multi Family
Units
Unit Mix
2 x 3BR/1BA
Multifamily Units
2
Additional Details
Public Transit
Yes
Taxes and HOA fees
Annual Taxes
$1,650
Building Details
Building Size
2,342 SF
Year Built
1912
Listing Agency:
Pioneer Star Real Estate Inc.
Listed By:
Pushpa Gunatilake · License #10311200587
(716) 907-3046
Source:
Highfallssir
Added: Sep 12
Changed: Sep 25
Last Checked: Sep 24 at 3:35PM
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 Pioneer Star Real Estate Inc.
Investment Insights
Based on property information with market context.
Built in 1912, this two-family property contains two renovated apartments with practical residential layouts. Each unit includes 3 bedrooms and 1 full bath, along with refreshed finishes and abundant natural light. The configuration supports an owner-occupant arrangement or continued use as a two-unit income property.
The property is located on Buffalo’s West Side, with shopping, restaurants, public transportation, and other neighborhood amenities nearby. Both residences are presented with updates intended to provide a move-in-ready setting for the next owner.
The property is located on Buffalo’s West Side, with shopping, restaurants, public transportation, and other neighborhood amenities nearby. Both residences are presented with updates intended to provide a move-in-ready setting for the next owner.
Key Highlights
- Two‑family duplex with 2 apartments
- Each apartment has 3 bedrooms and 1 full bath
- Newly renovated with updated finishes
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
$21,404
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
8.92%
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%
$428,080
$428.1K
Cap Rate 7%
$305,771
$305.8K
Cap Rate 9%
$237,822
$237.8K
Market Conditions
NOI Build-Up for 2,342 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
$40.8K $17.40/SF
− Vacancy
−$1.8K −$0.78/SF
EGI
$38.9K $16.62/SF
− OpEx
−$17.5K −$7.48/SF
NOI
$21.4K $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%
$428,080
Cap Rate 7%
$305,771
Cap Rate 9%
$237,822
Alternative Uses
Best Use
Multifamily LT 5
$332.0K
$290.5K – $387.3K
NOI $23,238 @ 7.0% cap · market cap 9.69%
Second Best
Apartment 5plus
$305.8K
$267.6K – $356.7K
NOI $21,404 @ 7.0% cap · market cap 8.92%
Theoretical Best
Office A
$563.2K
$492.8K – $657.1K
NOI $39,424 @ 7.0% cap · market cap 16.43%
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
1,134
Businesses Nearby
Explore this area
Business Placement
Demographics for 14213, NY
25,834
Population
11,397
Households
2.3
Avg Household Size
30
Median Age
36%
College-Educated
81%
High-School Grad
1.9 sq mi
ZIP Area
13,597
Density / Sq Mi
$52,597
Median Household Income
$36,084
Median Earnings
$1,059
Median Rent
$192,300
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 updated apartments offer flexible living arrangements with convenient access to neighborhood shopping, dining, and public transportation.
Where is this duplex located?
The property is located at 339 Hampshire Street Buffalo, NY.
What is the asking price?
The asking price for this property is $239,900.
What are key features of this property?
This property features: Two‑family duplex with 2 apartments; Each apartment has 3 bedrooms and 1 full bath; Newly renovated with updated finishes
