Character-Rich Duplex with
For Sale
$399,900
Pending
34 Cunard Road, Buffalo, NY 14216
Two spacious units combine original woodwork and fireplaces with updated kitchens, baths, windows, and furnaces.
Property Size2,966 SF
Days on Market19
Property Features for 34 Cunard Road
General Information
Standard status
Pending
Size
2,966 SF
Property subtype
Multi Family
Taxes and HOA fees
Annual Taxes
$3,750
Building Details
Building Size
2,966 SF
Year Built
1915
Listing Agency:
WNY Metro Roberts Realty
(716) 407-0373
Listed By:
Susan L Mecca · License #10401232868
(716) 407-0373
Source:
Highfallssir
Added: Aug 7
Changed: Aug 17
Last Checked: Aug 24 at 1:16PM
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 two-family duplex offers a pair of spacious 3-bedroom, 1-bath units in a 1915 residence with substantial architectural character. Natural woodwork, built-in bookcases with glass doors, and brick gas fireplaces distinguish the interiors. The lower apartment includes a converted porch with a bay window, central A/C, an eat-in kitchen with white cabinetry, and an updated bath with a granite countertop. The upper unit features refinished hardwood floors, fresh paint, and a refinished tub. Both apartments have newer windows and new furnaces.
A front foyer provides separate entrances, complemented by a side entrance. Additional property features include a full attic, full basement, fenced yard, double-wide driveway, and a two-car garage. The property is located near Hertel Avenue restaurants, boutique shops, cafes, and nightlife in North Buffalo.
A front foyer provides separate entrances, complemented by a side entrance. Additional property features include a full attic, full basement, fenced yard, double-wide driveway, and a two-car garage. The property is located near Hertel Avenue restaurants, boutique shops, cafes, and nightlife in North Buffalo.
Key Highlights
- Two 3‑bedroom, 1‑bath units
- 1915 construction with natural woodwork, built‑in bookcases, and brick gas fireplaces
- Lower unit includes converted porch, bay window, central A/C, and updated bath
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
$29,430
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
7.36%
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%
$588,600
$588.6K
Cap Rate 7%
$420,429
$420.4K
Cap Rate 9%
$327,000
$327.0K
Market Conditions
NOI Build-Up for 2,966 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
$44.5K $15.00/SF
− Vacancy
−$2.4K −$0.83/SF
EGI
$42.0K $14.17/SF
− OpEx
−$12.6K −$4.25/SF
NOI
$29.4K $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%
$588,600
Cap Rate 7%
$420,429
Cap Rate 9%
$327,000
Alternative Uses
Best Use
Multifamily LT 5
$420.4K
$367.9K – $490.5K
NOI $29,430 @ 7.0% cap · market cap 7.36%
Second Best
Apartment 5plus
$387.2K
$338.8K – $451.8K
NOI $27,107 @ 7.0% cap · market cap 6.78%
Theoretical Best
Office A
$713.3K
$624.1K – $832.1K
NOI $49,928 @ 7.0% cap · market cap 12.49%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
800
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 - Two spacious units combine original woodwork and fireplaces with updated kitchens, baths, windows, and furnaces.
Where is this duplex located?
The property is located at 34 Cunard Road Buffalo, NY.
What is the asking price?
The asking price for this property is $399,900.
What are key features of this property?
This property features: Two 3‑bedroom, 1‑bath units; 1915 construction with natural woodwork, built‑in bookcases, and brick gas fireplaces; Lower unit includes converted porch, bay window, central A/C, and updated bath
