Remodeled Two-Family
For Sale
$249,900
43 Fernhill Avenue, Buffalo, NY 14215
MULTI_FAMILY - Buffalo, NY
Property Size2,180 SF
Lot Size0.08 Acres
Price / SF$114.63
Days on Market8
Property Features for 43 Fernhill Avenue
General Information
Property type
Residential Multi Family
Property subtype
Other
Bedrooms
4
Bathrooms
2
Full bathrooms
2
Rooms
Bedroom 2, Bathroom 1, Bathroom 2, Bedroom 1, Bedroom 3, Bedroom 4, Basement
Appliances
GasWaterHeater
Lot features
Irregular Lot, Residential Lot
Elementary school district
Buffalo
Middle school district
Buffalo
High school district
Buffalo
Directions
Grider to Fernhill.
Subdivision
Buffalo City-140200
Standard status
Active
APN
140200-090-620-0001-008-000
Size
2,180 SF
Lot size
0.08 Acres
Taxes and HOA fees
Tax Annual Amount
1636
Utilities
Heating system
Radiant, Natural Gas
Water source
Public
Building Details
Year built
1915
Floors in Building
2
Number of units
2
Flooring type
Hardwood, Tile, Vinyl, Varies
Building materials
VinylSiding
Listing Agency:
Keller Williams Realty WNY
(716) 832-3300
Listed By:
Mohammad H Rahman · License #10401292662
(585) 689-1726
Added: Aug 7
Changed: Aug 13
Last Checked: Aug 14 at 10:06AM
MLS# B1705175
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 2,180-square-foot duplex, built in 1915, offers two separate residential levels with two bedrooms and one full bathroom on each floor. Both layouts include spacious living areas and formal dining rooms, while a full basement adds supplemental property space.
The recently remodeled kitchens feature new cabinets and countertops. Additional improvements include a tiled bathroom and some new flooring. Interior finishes include vinyl, tile, and hardwood flooring, with radiant natural gas heat, a gas water heater, public water, and vinyl siding.
The property occupies 0.0844 acres in Buffalo, New York, and is configured as a two-family residence.
The recently remodeled kitchens feature new cabinets and countertops. Additional improvements include a tiled bathroom and some new flooring. Interior finishes include vinyl, tile, and hardwood flooring, with radiant natural gas heat, a gas water heater, public water, and vinyl siding.
The property occupies 0.0844 acres in Buffalo, New York, and is configured as a two-family residence.
Key Highlights
- Two‑family duplex with two bedrooms and one full bathroom on each floor
- 2,180 square feet on a 0.0844‑acre lot
- Recently remodeled kitchens with new cabinets and countertops
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
$21,631
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
8.66%
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%
$432,620
$432.6K
Cap Rate 7%
$309,014
$309.0K
Cap Rate 9%
$240,344
$240.3K
Market Conditions
NOI Build-Up for 2,180 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
$32.7K $15.00/SF
− Vacancy
−$1.8K −$0.83/SF
EGI
$30.9K $14.17/SF
− OpEx
−$9.3K −$4.25/SF
NOI
$21.6K $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%
$432,620
Cap Rate 7%
$309,014
Cap Rate 9%
$240,344
Alternative Uses
Best Use
Multifamily LT 5
$309.0K
$270.4K – $360.5K
NOI $21,631 @ 7.0% cap · market cap 8.66%
Second Best
Apartment 5plus
$284.6K
$249.1K – $332.1K
NOI $19,924 @ 7.0% cap · market cap 7.97%
Theoretical Best
Office A
$524.2K
$458.7K – $611.6K
NOI $36,697 @ 7.0% cap · market cap 14.68%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
1,112
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
Market
Vacancy Rate% for Multifamily in Northeast region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Duplex - Two-bedroom layouts on each floor include full baths and spacious living areas.
Where is this duplex located?
The property is located at 43 Fernhill Avenue Buffalo, NY.
What is the asking price?
The asking price for this property is $249,900.
What are key features of this property?
This property features: Two‑family duplex with two bedrooms and one full bathroom on each floor; 2,180 square feet on a 0.0844‑acre lot; Recently remodeled kitchens with new cabinets and countertops
