Duplex with
For Sale
$240,000
367 Warwick Avenue, Buffalo, NY 14215
Separate apartments offer updated kitchens, included appliances, and a mix of living and dining spaces.
Property Size2,228 SF
Days on Market10
Property Features for 367 Warwick Avenue
General Information
Standard status
Active
Size
2,228 SF
Total Parking Spaces
4
Property subtype
Multi Family
Additional Details
Multifamily Units
2
Taxes and HOA fees
Annual Taxes
$2,057
Building Details
Building Size
2,228 SF
Year Built
1925
Listing Agency:
WNY Metro Roberts Realty
Listed By:
Nicole Totaro · License #10401351881
(716) 796-4874
Source:
Highfallssir
Added: Oct 8
Changed: Oct 17
Last Checked: Oct 16 at 2:53PM
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
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Investment Insights
Based on property information with market context.
Built in 1925, this duplex contains two apartments with appliances included on both floors. The lower unit has a formal dining area, living room, updated kitchen with new counters and cabinets, and 2 full baths. Upstairs, the apartment includes 3 bedrooms, a large living room, an eat-in kitchen, and a 6x8 utility room. A 4 car garage serves the property.
Reported updates include an architectural roof, two furnaces, two hot water tanks, vinyl windows, Pex plumbing, new drywall throughout, maintenance-free siding, LVT flooring, and a vinyl front porch. The lower kitchen has recessed lighting, while the upper unit has new flooring throughout and fresh paint. The basement includes a sump pump and glass block windows. The property has 100 AMP electric service.
Reported updates include an architectural roof, two furnaces, two hot water tanks, vinyl windows, Pex plumbing, new drywall throughout, maintenance-free siding, LVT flooring, and a vinyl front porch. The lower kitchen has recessed lighting, while the upper unit has new flooring throughout and fresh paint. The basement includes a sump pump and glass block windows. The property has 100 AMP electric service.
Key Highlights
- Duplex with a 4 car garage
- Lower apartment has 2 full baths and a formal dining area
- Upper apartment includes 3 bedrooms and a 6x8 utility room
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$20,362
Cap Rate
8.48%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$407,240
$407.2K
Cap Rate 7%
$290,886
$290.9K
Cap Rate 9%
$226,244
$226.2K
Market Conditions
NOI Build-Up for 2,228 SF
Gross rent
$38.8K $17.40/SF
− Vacancy
−$1.7K −$0.78/SF
EGI
$37.0K $16.62/SF
− OpEx
−$16.7K −$7.48/SF
NOI
$20.4K $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 Rate 5%
$407,240
Cap Rate 7%
$290,886
Cap Rate 9%
$226,244
Alternative Uses
Best Use
Multifamily LT 5
$315.8K
$276.3K – $368.5K
NOI $22,107 @ 7.0% cap · market cap 9.21%
Second Best
Apartment 5plus
$290.9K
$254.5K – $339.4K
NOI $20,362 @ 7.0% cap · market cap 8.48%
Theoretical Best
Office A
$535.8K
$468.8K – $625.1K
NOI $37,505 @ 7.0% cap · market cap 15.63%
Zoning and permitted uses should be independently verified with authorities.
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Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
628
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
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in Northeast region
Frequently Asked Questions
What type of property is this?
Duplex - Separate apartments offer updated kitchens, included appliances, and a mix of living and dining spaces.
Where is this duplex located?
The property is located at 367 Warwick 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: Duplex with a 4 car garage; Lower apartment has 2 full baths and a formal dining area; Upper apartment includes 3 bedrooms and a 6x8 utility room
