Three-Bedroom
For Sale
$399,000
41 Crestwood Avenue, Buffalo, NY 14216
MULTI_FAMILY - Other - Buffalo, NY
Property Size2,938 SF
Lot Size0.11 Acres
Price / SF$135.81
Days on Market10
Property Features for 41 Crestwood Avenue
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning description
Residential 2 Unit
Bedrooms
6
Bathrooms
2
Full bathrooms
2
Rooms
Bedroom 1, Bedroom 3, Bathroom 2, Bedroom 2, Basement, Bedroom 6, Bathroom 1, Bedroom 4, Bedroom 5
Patio and Porch features
Patio, Porch
Exterior features
Balcony, Fence, Patio
Fencing
Fenced
Fireplace
1
Appliances
GasWaterHeater
Subdivision
Holland Land Company's Su
Lot features
Near Public Transit, Rectangular, Rectangular Lot
Elementary school district
Buffalo
Middle school district
Buffalo
High school district
Buffalo
Directions
Hertel or Linden to Crestwood
Standard status
Active
APN
140200-078-720-0004-044-000
Size
2,938 SF
Lot size
0.11 Acres
Taxes and HOA fees
Tax Annual Amount
3825
Utilities
Heating system
Other (Heating), Natural Gas, Forced Air
Water source
Public
Building Details
Year built
1920
Floors in Building
2
Number of units
2
Flooring type
Hardwood, Tile, Varies, Carpet, Laminate
Building materials
Brick, VinylSiding
Roof type
Metal
Architectural style
Other
Listing Agency:
Keller Williams Realty WNY
(716) 832-3300
Listed By:
Karina Stachowiak · License #10401362457
(716) 908-4212
Added: Aug 5
Changed: Aug 13
Last Checked: Aug 14 at 11:06AM
MLS# B1703110
Copyright © 2026 New York State Alliance of MLSs, LLC. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This 2,938-square-foot duplex, built in 1920, contains two three-bedroom apartments with living rooms, formal dining rooms, hardwood flooring, decorative fireplaces, and updated kitchens and bathrooms. Original architectural elements remain throughout, while separate modern utilities serve each residence. The lower apartment is occupied, and the upper apartment is vacant following a fresh paint update.
A full basement provides separate washer and dryer hookups for both units along with storage space. The property also includes a walk-up attic, metal roofing, vinyl siding, an upper balcony, vinyl windows in the upper apartment, fencing, and a patio. Public water, a natural gas forced-air system, and a gas water heater are in place. The home sits near Hertel Avenue restaurants, cafés, boutiques, parks, and other local amenities in Buffalo’s North Buffalo area.
A full basement provides separate washer and dryer hookups for both units along with storage space. The property also includes a walk-up attic, metal roofing, vinyl siding, an upper balcony, vinyl windows in the upper apartment, fencing, and a patio. Public water, a natural gas forced-air system, and a gas water heater are in place. The home sits near Hertel Avenue restaurants, cafés, boutiques, parks, and other local amenities in Buffalo’s North Buffalo area.
Key Highlights
- 2,938 square feet across two three‑bedroom apartments
- 0.1074 acres with fencing, patio, and upper balcony
- Lower apartment occupied; upper apartment vacant after fresh painting
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
$29,152
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
7.31%
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%
$583,040
$583.0K
Cap Rate 7%
$416,457
$416.5K
Cap Rate 9%
$323,911
$323.9K
Market Conditions
NOI Build-Up for 2,938 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
$44.1K $15.00/SF
− Vacancy
−$2.4K −$0.83/SF
EGI
$41.6K $14.17/SF
− OpEx
−$12.5K −$4.25/SF
NOI
$29.2K $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%
$583,040
Cap Rate 7%
$416,457
Cap Rate 9%
$323,911
Alternative Uses
Best Use
Multifamily LT 5
$416.5K
$364.4K – $485.9K
NOI $29,152 @ 7.0% cap · market cap 7.31%
Second Best
Apartment 5plus
$383.6K
$335.6K – $447.5K
NOI $26,851 @ 7.0% cap · market cap 6.73%
Theoretical Best
Office A
$706.5K
$618.2K – $824.3K
NOI $49,457 @ 7.0% cap · market cap 12.40%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
973
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
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 - Two updated apartments combine period details, separate utilities, basement laundry hookups, and a vacant upper residence ready for occupancy.
Where is this duplex located?
The property is located at 41 Crestwood Avenue Buffalo, NY.
What is the asking price?
The asking price for this property is $399,000.
What are key features of this property?
This property features: 2,938 square feet across two three‑bedroom apartments; 0.1074 acres with fencing, patio, and upper balcony; Lower apartment occupied; upper apartment vacant after fresh painting
