Spacious Duplex with
For Sale
$220,000
367 University Ave, Buffalo, NY 14223
Two primary apartments plus a flexible studio area and off-street parking.
Property Size1,842 SF
Price / SF$119.44
Days on Market52
Property Features for 367 University Ave
General Information
Standard status
Active
Size
1,842 SF
Property subtype
Multi-Family
Site & Location
Neighborhood
University
Additional Details
Multifamily Units
3
Building Details
Year Built
1930
Listing Agency:
Keller Williams Realty WNY
Listed By:
Hua Yang · License #10401323265
(716) 839-1189
Source:
Skinnercnyrealty
Added: Sep 7
Changed: Oct 26
Last Checked: Oct 7 at 1:09PM
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 Keller Williams Realty WNY
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Investment Insights
Based on property information with market context.
This 1,842-square-foot duplex, built in 1930, includes two generously sized primary apartments. The lower residence has two full bathrooms and offers an adaptable bonus studio that can function as part of the apartment or provide additional storage. A well-maintained two-car garage with a newer roof complements the building, while off-street parking adds further convenience.
The property is located at 367 University Ave in Buffalo, near a library and the UB South Campus. Its two-unit configuration provides separate apartment spaces, with the additional studio area offering flexibility for storage or expanded lower-level use.
The property is located at 367 University Ave in Buffalo, near a library and the UB South Campus. Its two-unit configuration provides separate apartment spaces, with the additional studio area offering flexibility for storage or expanded lower-level use.
Key Highlights
- 1,842‑square‑foot duplex built in 1930
- Two primary apartments with spacious layouts
- Lower apartment includes two full bathrooms
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$18,277
Cap Rate
8.31%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$365,540
$365.5K
Cap Rate 7%
$261,100
$261.1K
Cap Rate 9%
$203,078
$203.1K
Market Conditions
NOI Build-Up for 1,842 SF
Gross rent
$27.6K $15.00/SF
− Vacancy
−$1.5K −$0.83/SF
EGI
$26.1K $14.17/SF
− OpEx
−$7.8K −$4.25/SF
NOI
$18.3K $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 Rate 5%
$365,540
Cap Rate 7%
$261,100
Cap Rate 9%
$203,078
Alternative Uses
Best Use
Multifamily LT 5
$261.1K
$228.5K – $304.6K
NOI $18,277 @ 7.0% cap · market cap 8.31%
Second Best
Apartment 5plus
$240.5K
$210.4K – $280.6K
NOI $16,835 @ 7.0% cap · market cap 7.65%
Theoretical Best
Office A
$443.0K
$387.6K – $516.8K
NOI $31,007 @ 7.0% cap · market cap 14.09%
Zoning and permitted uses should be independently verified with authorities.
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Lease Details
3
Residential units
Location Intelligence
Trade Area within ½ mile
591
Businesses Nearby
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Business Placement
Demographics for 14223, NY
22,658
Population
10,586
Households
2.1
Avg Household Size
41
Median Age
44%
College-Educated
97%
High-School Grad
3.5 sq mi
ZIP Area
6,474
Density / Sq Mi
$83,528
Median Household Income
$49,835
Median Earnings
$976
Median Rent
$202,200
Median Home Value
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Market
Vacancy Rate% for Multifamily in Northeast region
Frequently Asked Questions
What type of property is this?
Duplex - Two primary apartments plus a flexible studio area and off-street parking.
Where is this duplex located?
The property is located at 367 University Ave Buffalo, NY.
What is the asking price?
The asking price for this property is $220,000.
What are key features of this property?
This property features: 1,842‑square‑foot duplex built in 1930; Two primary apartments with spacious layouts; Lower apartment includes two full bathrooms
