Updated Two-Family
For Sale
$229,900
40 Benson Avenue, West Seneca, NY 14224
Both residences include two bedrooms, a full bath, and separate living, dining, and kitchen areas.
Property Size1,829 SF
Days on Market8
Property Features for 40 Benson Avenue
General Information
Standard status
Active
Size
1,829 SF
Total Parking Spaces
2
Property subtype
Duplex
Units
Unit Mix
2 x 2BR/1BA
Multifamily Units
2
Taxes and HOA fees
Annual Taxes
$3,674
Building Details
Building Size
1,829 SF
Year Built
1924
Listing Agency:
HUNT Real Estate ERA
Listed By:
Md Nazmul Hussain · License #10401369637
(347) 968-4231
Source:
Highfallssir
Added: Sep 28
Changed: Oct 2
Last Checked: Oct 4 at 2:21PM
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.
This duplex contains two residences, each arranged with two bedrooms, a living room, dining room, kitchen, and full bathroom. Interior work includes refreshed kitchens and baths, replacement flooring, new paint, and updated lighting. The property also has a full basement, a concrete driveway, and a detached two-car garage. Built in 1924, the building contains 1,829 square feet.
The property is at 40 Benson Ave in Buffalo, with shopping, restaurants, schools, and major routes nearby.
The property is at 40 Benson Ave in Buffalo, with shopping, restaurants, schools, and major routes nearby.
Key Highlights
- Two units, each with 2 bedrooms and a full bathroom
- Both units have living rooms, dining rooms, and kitchens
- Updated kitchens, bathrooms, flooring, paint, and lighting
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
$18,148
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
7.89%
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%
$362,960
$363.0K
Cap Rate 7%
$259,257
$259.3K
Cap Rate 9%
$201,644
$201.6K
Market Conditions
NOI Build-Up for 1,829 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
$27.4K $15.00/SF
− Vacancy
−$1.5K −$0.83/SF
EGI
$25.9K $14.17/SF
− OpEx
−$7.8K −$4.25/SF
NOI
$18.1K $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%
$362,960
Cap Rate 7%
$259,257
Cap Rate 9%
$201,644
Alternative Uses
Best Use
Multifamily LT 5
$259.3K
$226.9K – $302.5K
NOI $18,148 @ 7.0% cap · market cap 7.89%
Second Best
Apartment 5plus
$238.8K
$209.0K – $278.6K
NOI $16,716 @ 7.0% cap · market cap 7.27%
Theoretical Best
Office A
$439.8K
$384.9K – $513.2K
NOI $30,789 @ 7.0% cap · market cap 13.39%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
405
Businesses Nearby
Explore this area
Business Placement
Demographics for 14224, NY
40,736
Population
19,286
Households
2.1
Avg Household Size
46
Median Age
33%
College-Educated
95%
High-School Grad
20.2 sq mi
ZIP Area
2,017
Density / Sq Mi
$76,250
Median Household Income
$49,824
Median Earnings
$1,077
Median Rent
$219,800
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
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Frequently Asked Questions
What type of property is this?
Duplex - Both residences include two bedrooms, a full bath, and separate living, dining, and kitchen areas.
Where is this duplex located?
The property is located at 40 Benson Avenue West Seneca, NY.
What is the asking price?
The asking price for this property is $229,900.
What are key features of this property?
This property features: Two units, each with 2 bedrooms and a full bathroom; Both units have living rooms, dining rooms, and kitchens; Updated kitchens, bathrooms, flooring, paint, and lighting
