Duplex with Detached
New
For Sale
$325,000
356 Sanders Rd, Buffalo, NY 14216
Separate utilities support use as a two-family residence alongside its current single-family configuration.
Property Size1,661 SF
Price / SF$195.67
Days on Market2
Property Features for 356 Sanders Rd
General Information
Standard status
Active
Size
1,661 SF
Property subtype
Multi-Family
Building Details
Year Built
1929
Listing Agency:
HUNT Real Estate ERA
Listed By:
Ryan Devin · License #10401291865
(303) 986-4300
Source:
Skinnercnyrealty
Added: Sep 30
Last Checked: Oct 1 at 1:40PM
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 HUNT Real Estate ERA
Investment Insights
Based on property information with market context.
At 356 Sanders Rd in Buffalo, this 1,661-square-foot property is currently arranged as a single-family home with 3 bedrooms and 2 full baths. Its two-floor layout includes hardwood flooring, two updated kitchens, and living areas on both levels. A second-story porch, backyard, and detached 2-car garage add outdoor and vehicle space.
The home can also function as a two-family residence, with separate utilities. Updates include a roof installed in 2024, a shower completed in 2025, and two new hot water tanks in 2026. Vinyl windows and a newer furnace are also in place.
The home can also function as a two-family residence, with separate utilities. Updates include a roof installed in 2024, a shower completed in 2025, and two new hot water tanks in 2026. Vinyl windows and a newer furnace are also in place.
Key Highlights
- 1,661‑square‑foot home with a layout that can serve as a two‑family residence
- Separate utilities and two updated kitchens
- Currently configured as a 3‑bedroom, 2‑full‑bath single‑family home
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
$16,481
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
5.07%
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%
$329,620
$329.6K
Cap Rate 7%
$235,443
$235.4K
Cap Rate 9%
$183,122
$183.1K
Market Conditions
NOI Build-Up for 1,661 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
$24.9K $15.00/SF
− Vacancy
−$1.4K −$0.83/SF
EGI
$23.5K $14.17/SF
− OpEx
−$7.1K −$4.25/SF
NOI
$16.5K $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%
$329,620
Cap Rate 7%
$235,443
Cap Rate 9%
$183,122
Alternative Uses
Best Use
Multifamily LT 5
$235.4K
$206.0K – $274.7K
NOI $16,481 @ 7.0% cap · market cap 5.07%
Second Best
Apartment 5plus
$216.9K
$189.8K – $253.0K
NOI $15,180 @ 7.0% cap · market cap 4.67%
Theoretical Best
Office A
$399.4K
$349.5K – $466.0K
NOI $27,961 @ 7.0% cap · market cap 8.60%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
421
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
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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 - Separate utilities support use as a two-family residence alongside its current single-family configuration.
Where is this duplex located?
The property is located at 356 Sanders Rd Buffalo, NY.
What is the asking price?
The asking price for this property is $325,000.
What are key features of this property?
This property features: 1,661‑square‑foot home with a layout that can serve as a two‑family residence; Separate utilities and two updated kitchens; Currently configured as a 3‑bedroom, 2‑full‑bath single‑family home
