Two-Unit Duplex with Detached
For Sale
$234,900
44 George Urban Boulevard, Buffalo, NY 14225
Two residential units provide matching two-bedroom layouts, full baths, and access to a separate two-car garage.
Property Size2,062 SF
Price / SF$113.92
Days on Market10
Property Features for 44 George Urban Boulevard
General Information
Standard status
Active
Size
2,062 SF
Total Parking Spaces
2
Property subtype
Multi-Family
Units
Unit Mix
2 x 2BR/1BA
Multifamily Units
2
Additional Details
Highway Access
Yes
Building Details
Year Built
1942
Buildings
1
Listing Agency:
Keller Williams Realty Lancaster
(716) 218-0488
Listed By:
Melissa Ann Liberatore · License #10401271191
Source:
Thejoshjamesteam
Added: Aug 22
Changed: Aug 29
Last Checked: Aug 30 at 7:20PM
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 Keller Williams Realty Lancaster
Investment Insights
Based on property information with market context.
This two-unit residential property includes two apartments, each arranged with two bedrooms and one full bathroom. A detached garage accommodates two vehicles and provides additional storage space. Built in 1942, the duplex offers a straightforward configuration for residential ownership or rental use.
The property is located at 44 George Urban Boulevard in Buffalo, near shopping, restaurants, parks, and major highways. Its Cheektowaga-area setting provides access to a range of everyday services and regional road connections.
The property is located at 44 George Urban Boulevard in Buffalo, near shopping, restaurants, parks, and major highways. Its Cheektowaga-area setting provides access to a range of everyday services and regional road connections.
Key Highlights
- Two‑unit duplex with 2 bedrooms and 1 full bath in each unit
- Detached 2‑car garage for parking and storage
- Built in 1942
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
$20,460
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
8.71%
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%
$409,200
$409.2K
Cap Rate 7%
$292,286
$292.3K
Cap Rate 9%
$227,333
$227.3K
Market Conditions
NOI Build-Up for 2,062 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
$30.9K $15.00/SF
− Vacancy
−$1.7K −$0.83/SF
EGI
$29.2K $14.17/SF
− OpEx
−$8.8K −$4.25/SF
NOI
$20.5K $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%
$409,200
Cap Rate 7%
$292,286
Cap Rate 9%
$227,333
Alternative Uses
Best Use
Multifamily LT 5
$292.3K
$255.8K – $341.0K
NOI $20,460 @ 7.0% cap · market cap 8.71%
Second Best
Apartment 5plus
$269.2K
$235.6K – $314.1K
NOI $18,845 @ 7.0% cap · market cap 8.02%
Theoretical Best
Office A
$495.9K
$433.9K – $578.5K
NOI $34,711 @ 7.0% cap · market cap 14.78%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
2
Residential units
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
494
Businesses Nearby
Explore this area
Business Placement
Demographics for 14225, NY
34,066
Population
16,253
Households
2.1
Avg Household Size
41
Median Age
29%
College-Educated
93%
High-School Grad
11.5 sq mi
ZIP Area
2,962
Density / Sq Mi
$65,562
Median Household Income
$44,408
Median Earnings
$937
Median Rent
$154,500
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 residential units provide matching two-bedroom layouts, full baths, and access to a separate two-car garage.
Where is this duplex located?
The property is located at 44 George Urban Boulevard Buffalo, NY.
What is the asking price?
The asking price for this property is $234,900.
What are key features of this property?
This property features: Two‑unit duplex with 2 bedrooms and 1 full bath in each unit; Detached 2‑car garage for parking and storage; Built in 1942
