Two-Unit Duplex with
For Sale
$205,000
35 Bellwood Ave, Buffalo, NY 14224
Separate two-bedroom layouts include basement laundry hookups, replacement windows, and a partially fenced backyard.
Property Size2,017 SF
Price / SF$101.64
Days on Market16
Property Features for 35 Bellwood Ave
General Information
Standard status
Active
Size
2,017 SF
Total Parking Spaces
2
Property subtype
Multi-Family
Units
Unit Mix
2 x 2BR/1BA
Multifamily Units
2
Amenities
laundry hookups
partially fenced backyard
Building Details
Year Built
1920
Buildings
1
Listing Agency:
WNY Metro Roberts Realty
(716) 348-2058
Listed By:
Michael P Kearns · License #10301215173
Source:
Skinnercnyrealty
Added: Aug 16
Changed: Aug 29
Last Checked: Aug 30 at 7:03PM
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 duplex contains two residential units, each arranged with 2 bedrooms and 1 full bath. Replacement windows are installed throughout, while the full basement provides laundry hookups and additional utility space. A detached 2-car garage supplies covered parking and storage, and the partially fenced backyard adds outdoor space.
Built in 1920, the property is located at 35 Bellwood Ave in Buffalo, NY 14224, near shopping, restaurants, parks, and major roadways. The two-unit configuration supports an owner-occupant arrangement or rental use, with separate living areas and practical ancillary features already in place.
Built in 1920, the property is located at 35 Bellwood Ave in Buffalo, NY 14224, near shopping, restaurants, parks, and major roadways. The two-unit configuration supports an owner-occupant arrangement or rental use, with separate living areas and practical ancillary features already in place.
Key Highlights
- Two units, each with 2 bedrooms and 1 full bath
- Detached 2‑car garage for parking and storage
- Full basement with laundry hookups
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
$18,434
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
8.99%
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%
$368,680
$368.7K
Cap Rate 7%
$263,343
$263.3K
Cap Rate 9%
$204,822
$204.8K
Market Conditions
NOI Build-Up for 2,017 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
$35.1K $17.40/SF
− Vacancy
−$1.6K −$0.78/SF
EGI
$33.5K $16.62/SF
− OpEx
−$15.1K −$7.48/SF
NOI
$18.4K $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%
$368,680
Cap Rate 7%
$263,343
Cap Rate 9%
$204,822
Alternative Uses
Best Use
Multifamily LT 5
$285.9K
$250.2K – $333.6K
NOI $20,014 @ 7.0% cap · market cap 9.76%
Second Best
Apartment 5plus
$263.3K
$230.4K – $307.2K
NOI $18,434 @ 7.0% cap · market cap 8.99%
Theoretical Best
Office A
$485.0K
$424.4K – $565.9K
NOI $33,953 @ 7.0% cap · market cap 16.56%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
277
Businesses Nearby
Explore this area
Business Placement
Demographics for 14224, NY
40,736
Population
19,286
Households
2.1
Avg Household Size
46
Median Age
33%
College-Educated
95%
High-School Grad
20.2 sq mi
ZIP Area
2,017
Density / Sq Mi
$76,250
Median Household Income
$49,824
Median Earnings
$1,077
Median Rent
$219,800
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 - Separate two-bedroom layouts include basement laundry hookups, replacement windows, and a partially fenced backyard.
Where is this duplex located?
The property is located at 35 Bellwood Ave Buffalo, NY.
What is the asking price?
The asking price for this property is $205,000.
What are key features of this property?
This property features: Two units, each with 2 bedrooms and 1 full bath; Detached 2‑car garage for parking and storage; Full basement with laundry hookups
