Two-House Multifamily
For Sale
$395,000
380 Fargo Avenue, Buffalo, NY 14213
Two residences share one parcel, with basement laundry hookups and on-site parking serving both homes.
Property Size3,606 SF
Days on Market74
Property Features for 380 Fargo Avenue
General Information
Standard status
Active
Size
3,606 SF
Property subtype
Multi Family
Units
Unit Mix
2 x 3BR/1BA, 1 x 3BR/1BA
Multifamily Units
3
Taxes and HOA fees
Annual Taxes
$1,661
Amenities
covered front porch
laundry hookups
Building Details
Building Size
3,606 SF
Year Built
1890
Buildings
2
Listing Agency:
Gurney Becker & Bourne
Listed By:
Carmelo A Parlato · License #10401209029
(716) 335-2227
Source:
Highfallssir
Added: Jul 29
Changed: Oct 8
Last Checked: Oct 9 at 11:50PM
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 Gurney Becker & Bourne
Investment Insights
Based on property information with market context.
This multifamily property includes two separate houses on a single lot. The front residence is configured as a two-family home with two occupied units, each offering 3 bedrooms and 1 bath, along with a large covered front porch. A separate rear carriage house provides another 3-bedroom, 1-bath layout.
Both houses include full basements with laundry hookups, and parking is available between the residences. The property was built in 1890 and sits beside a community garden, adding landscaped open space directly next door. The combination of multiple residential units, separate structures, basement utility areas, and shared parking creates a clearly defined multifamily configuration.
Both houses include full basements with laundry hookups, and parking is available between the residences. The property was built in 1890 and sits beside a community garden, adding landscaped open space directly next door. The combination of multiple residential units, separate structures, basement utility areas, and shared parking creates a clearly defined multifamily configuration.
Key Highlights
- Two houses situated on one lot
- Front house contains two fully occupied units, each with 3 bedrooms and 1 bath
- Rear carriage house offers 3 bedrooms and 1 bath
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$32,956
Cap Rate
8.34%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$659,120
$659.1K
Cap Rate 7%
$470,800
$470.8K
Cap Rate 9%
$366,178
$366.2K
Market Conditions
NOI Build-Up for 3,606 SF
Gross rent
$62.7K $17.40/SF
− Vacancy
−$2.8K −$0.78/SF
EGI
$59.9K $16.62/SF
− OpEx
−$27.0K −$7.48/SF
NOI
$33.0K $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%
$659,120
Cap Rate 7%
$470,800
Cap Rate 9%
$366,178
Alternative Uses
Best Use
Apartment 5plus
$470.8K
$412.0K – $549.3K
NOI $32,956 @ 7.0% cap · market cap 8.34%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$867.2K
$758.8K – $1.01M
NOI $60,702 @ 7.0% cap · market cap 15.37%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
3
Residential units
Location Intelligence
Trade Area within ½ mile
835
Businesses Nearby
Explore this area
Business Placement
Demographics for 14213, NY
25,834
Population
11,397
Households
2.3
Avg Household Size
30
Median Age
36%
College-Educated
81%
High-School Grad
1.9 sq mi
ZIP Area
13,597
Density / Sq Mi
$52,597
Median Household Income
$36,084
Median Earnings
$1,059
Median Rent
$192,300
Median Home Value
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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?
Multifamily property - Two residences share one parcel, with basement laundry hookups and on-site parking serving both homes.
Where is this multifamily property located?
The property is located at 380 Fargo Avenue Buffalo, NY.
What is the asking price?
The asking price for this property is $395,000.
What are key features of this property?
This property features: Two houses situated on one lot; Front house contains two fully occupied units, each with 3 bedrooms and 1 bath; Rear carriage house offers 3 bedrooms and 1 bath
