Two-Unit Duplex with Off-Street
New
For Sale
$250,000
39 Hartwell Rd, Buffalo, NY 14216
Both residences are occupied and feature matching layouts, hardwood flooring, and appliances.
Property Size1,728 SF
Price / SF$144.68
Days on Market4
Property Features for 39 Hartwell Rd
General Information
Standard status
Active
Size
1,728 SF
Property subtype
Multi-Family
Occupancy
100%
Additional Details
Road Access
Yes
Multifamily Units
2
Building Details
Year Built
1950
Buildings
1
Tenancy
Multi
Listing Agency:
WNYbyOwner.com
Listed By:
Robyn Sansone · License #10491209960
(716) 523-8508
Source:
Skinnercnyrealty
Added: Sep 24
Last Checked: Sep 26 at 11:16AM
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 WNYbyOwner.com
Investment Insights
Based on property information with market context.
Built in 1950, this duplex contains two matching apartments, each with hardwood floors and appliances. Both units are tenant occupied. The property also has a full basement with glass block, aluminum siding, off-street parking, and a yard that is fenced in part. A new sump pump was installed in September 2026, and the building passed a City of Buffalo rental inspection in Spring 2025.
Key Highlights
- Two tenant‑occupied apartments with matching layouts
- Hardwood floors and appliances in both units
- Full basement with glass block
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
$17,146
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
6.86%
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%
$342,920
$342.9K
Cap Rate 7%
$244,943
$244.9K
Cap Rate 9%
$190,511
$190.5K
Market Conditions
NOI Build-Up for 1,728 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
$25.9K $15.00/SF
− Vacancy
−$1.4K −$0.83/SF
EGI
$24.5K $14.17/SF
− OpEx
−$7.3K −$4.25/SF
NOI
$17.1K $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%
$342,920
Cap Rate 7%
$244,943
Cap Rate 9%
$190,511
Alternative Uses
Best Use
Multifamily LT 5
$244.9K
$214.3K – $285.8K
NOI $17,146 @ 7.0% cap · market cap 6.86%
Second Best
Apartment 5plus
$225.6K
$197.4K – $263.2K
NOI $15,793 @ 7.0% cap · market cap 6.32%
Theoretical Best
Office A
$415.5K
$363.6K – $484.8K
NOI $29,088 @ 7.0% cap · market cap 11.64%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
2
Residential units
100%
Occupancy
Multi-tenant
Tenancy
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
1,307
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
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
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 - Both residences are occupied and feature matching layouts, hardwood flooring, and appliances.
Where is this duplex located?
The property is located at 39 Hartwell Rd Buffalo, NY.
What is the asking price?
The asking price for this property is $250,000.
What are key features of this property?
This property features: Two tenant‑occupied apartments with matching layouts; Hardwood floors and appliances in both units; Full basement with glass block
