Furnished Two-Family
For Sale
$240,000
35 Parkridge Avenue, Buffalo, NY 14215
Turnkey duplex with two furnished units, separate kitchens, private outdoor features, and an established short-term rental setup.
Property Size2,040 SF
Lot Size0.08 Acres
Days on Market8
Property Features for 35 Parkridge Avenue
General Information
Standard status
Active
Size
2,040 SF
Lot size
0.08 Acres
Property subtype
Multi Family
Units
Unit Mix
1 x 3BR/1BA, 1 x 2BR/1BA
Multifamily Units
2
Additional Details
Furnished
Yes
Public Transit
Yes
Taxes and HOA fees
Annual Taxes
$1,885
Amenities
washer/dryer
central heat
full basement
covered front porch
private balcony
detached garage
private driveway
Building Details
Building Size
2,040 SF
Year Built
1920
Buildings
1
Listing Agency:
Towne Housing Real Estate
(716) 463-1485
Listed By:
Amirun Kaber · License #10401376276
(716) 463-1485
Source:
Highfallssir
Added: Aug 9
Changed: Aug 15
Last Checked: Aug 15 at 12:47PM
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 Towne Housing Real Estate
Investment Insights
Based on property information with market context.
This 1920 two-family duplex includes a three-bedroom, one-bath first-floor residence and a two-bedroom, one-bath second-floor unit. Each level has its own kitchen, while the sale includes furniture, two TVs, a washer/dryer, and kitchen essentials. The first floor also offers an open living and dining area, gas cooking, natural light, and backyard access. The upper unit includes a renovated private balcony. A full basement, forced-air central heat, covered front porch, private driveway, and detached garage add functional support space. The property occupies a 3,696 sq ft lot and is being sold as-is.
One unit is currently operating as a furnished Airbnb, providing an existing short-term rental arrangement. The property is near UB South Campus, ECMC, the Buffalo VA Medical Center, public transportation, shopping, and dining. Its Buffalo, NY location supports access to nearby institutional and neighborhood amenities.
One unit is currently operating as a furnished Airbnb, providing an existing short-term rental arrangement. The property is near UB South Campus, ECMC, the Buffalo VA Medical Center, public transportation, shopping, and dining. Its Buffalo, NY location supports access to nearby institutional and neighborhood amenities.
Key Highlights
- Two‑family layout with 3‑bedroom and 2‑bedroom units
- 3,696 sq ft lot with private driveway and detached garage
- Furniture, two TVs, washer/dryer, and kitchen essentials included
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
$20,242
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
8.43%
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%
$404,840
$404.8K
Cap Rate 7%
$289,171
$289.2K
Cap Rate 9%
$224,911
$224.9K
Market Conditions
NOI Build-Up for 2,040 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
$30.6K $15.00/SF
− Vacancy
−$1.7K −$0.83/SF
EGI
$28.9K $14.17/SF
− OpEx
−$8.7K −$4.25/SF
NOI
$20.2K $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%
$404,840
Cap Rate 7%
$289,171
Cap Rate 9%
$224,911
Alternative Uses
Best Use
Multifamily LT 5
$289.2K
$253.0K – $337.4K
NOI $20,242 @ 7.0% cap · market cap 8.43%
Second Best
Apartment 5plus
$266.3K
$233.1K – $310.7K
NOI $18,644 @ 7.0% cap · market cap 7.77%
Theoretical Best
Office A
$490.6K
$429.3K – $572.4K
NOI $34,341 @ 7.0% cap · market cap 14.31%
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
779
Businesses Nearby
Explore this area
Business Placement
Demographics for 14215, NY
42,447
Population
19,203
Households
2.2
Avg Household Size
33
Median Age
19%
College-Educated
87%
High-School Grad
4.8 sq mi
ZIP Area
8,843
Density / Sq Mi
$43,326
Median Household Income
$29,204
Median Earnings
$993
Median Rent
$102,800
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 - Turnkey duplex with two furnished units, separate kitchens, private outdoor features, and an established short-term rental setup.
Where is this duplex located?
The property is located at 35 Parkridge Avenue Buffalo, NY.
What is the asking price?
The asking price for this property is $240,000.
What are key features of this property?
This property features: Two‑family layout with 3‑bedroom and 2‑bedroom units; 3,696 sq ft lot with private driveway and detached garage; Furniture, two TVs, washer/dryer, and kitchen essentials included
