Duplex with Detached
New
For Sale
$259,900
432 Dorrance Avenue, Buffalo, NY 14218
Two separate utility systems serve the residence, with updated finishes in the lower unit.
Property Size1,609 SF
Days on Market6
Property Features for 432 Dorrance Avenue
General Information
Standard status
Active
Size
1,609 SF
Total Parking Spaces
2
Property subtype
Multi Family
Additional Details
Multifamily Units
2
Taxes and HOA fees
Annual Taxes
$2,717
Building Details
Building Size
1,609 SF
Year Built
1950
Buildings
1
Listing Agency:
HUNT Real Estate ERA
Listed By:
Mary Clare Hourihan · License #40SH0775267
(716) 308-1177
Source:
Highfallssir
Added: Oct 15
Changed: Oct 19
Last Checked: Oct 19 at 2:54PM
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
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Investment Insights
Based on property information with market context.
Built in 1950, this duplex includes two residential units. The lower unit has a remodeled kitchen and bathroom, a breakfast nook, and hardwood flooring in the living room and bedrooms. The property also has a detached two-car garage and a fenced yard on a corner lot.
Restaurants, schools, churches, coffee shops, parks, and golf courses are within walking distance. Separate utilities serve the units.
Restaurants, schools, churches, coffee shops, parks, and golf courses are within walking distance. Separate utilities serve the units.
Key Highlights
- Two‑unit duplex built in 1950
- Lower unit features a remodeled kitchen and bathroom, plus a separate breakfast nook
- Hardwood floors in the lower unit’s living room and bedrooms
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$15,965
Cap Rate
6.14%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$319,300
$319.3K
Cap Rate 7%
$228,071
$228.1K
Cap Rate 9%
$177,389
$177.4K
Market Conditions
NOI Build-Up for 1,609 SF
Gross rent
$24.1K $15.00/SF
− Vacancy
−$1.3K −$0.83/SF
EGI
$22.8K $14.17/SF
− OpEx
−$6.8K −$4.25/SF
NOI
$16.0K $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 Rate 5%
$319,300
Cap Rate 7%
$228,071
Cap Rate 9%
$177,389
Alternative Uses
Best Use
Multifamily LT 5
$228.1K
$199.6K – $266.1K
NOI $15,965 @ 7.0% cap · market cap 6.14%
Second Best
Apartment 5plus
$210.1K
$183.8K – $245.1K
NOI $14,705 @ 7.0% cap · market cap 5.66%
Theoretical Best
Office A
$386.9K
$338.6K – $451.4K
NOI $27,085 @ 7.0% cap · market cap 10.42%
Zoning and permitted uses should be independently verified with authorities.
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Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
443
Businesses Nearby
Explore this area
Business Placement
Demographics for 14218, NY
20,878
Population
9,478
Households
2.2
Avg Household Size
38
Median Age
21%
College-Educated
88%
High-School Grad
8.1 sq mi
ZIP Area
2,578
Density / Sq Mi
$50,484
Median Household Income
$36,457
Median Earnings
$829
Median Rent
$135,000
Median Home Value
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Market
Vacancy Rate% for Multifamily in Northeast region
Frequently Asked Questions
What type of property is this?
Duplex - Two separate utility systems serve the residence, with updated finishes in the lower unit.
Where is this duplex located?
The property is located at 432 Dorrance Avenue Buffalo, NY.
What is the asking price?
The asking price for this property is $259,900.
What are key features of this property?
This property features: Two‑unit duplex built in 1950; Lower unit features a remodeled kitchen and bathroom, plus a separate breakfast nook; Hardwood floors in the lower unit’s living room and bedrooms
