Side-by-Side Duplex with
For Sale
$229,900
4493 Union Rd, Buffalo, NY 14225
Two separate units offer updated interiors, laundry hookups, rear parking, and access to the Maryvale School District.
Property Size1,560 SF
Price / SF$147.37
Days on Market27
Property Features for 4493 Union Rd
General Information
Standard status
Active
Size
1,560 SF
Property subtype
Multi-Family
Site & Location
Highway Access
Yes
Utilities to Site
Yes
Additional Details
Multifamily Units
2
Building Details
Year Built
1944
Listing Agency:
Keller Williams Realty WNY
(716) 697-3280
Listed By:
Joshua James · License #10301210944
Source:
Thejoshjamesteam
Added: Aug 3
Changed: Aug 28
Last Checked: Aug 29 at 12:02PM
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 WNY
Investment Insights
Based on property information with market context.
Built in 1944, this side-by-side duplex contains two 2-bedroom, 2-bath units. The right apartment has been renovated with laminate flooring, wood cabinetry, updated counters, a bright kitchen, new carpet in the living room, and a refreshed bathroom with tile flooring and a shower surround. The left apartment includes an attractive kitchen, laminate flooring, and a tenant seeking to remain. Both units have separate utilities and laundry hookups.
The property includes a detached two-car garage, a spacious backyard, and additional parking at the rear. The yard adjoins Maryvale High School. Located in Cheektowaga within the Maryvale School District, the duplex is near the Village of Williamsville, Route 33, local shops, Galleria Mall, and entertainment. Downtown Buffalo is approximately a 13-minute drive away. Updates include paint in 2025, electrical work in 2018, a left-side hot water tank in 2021, and some newer windows.
The property includes a detached two-car garage, a spacious backyard, and additional parking at the rear. The yard adjoins Maryvale High School. Located in Cheektowaga within the Maryvale School District, the duplex is near the Village of Williamsville, Route 33, local shops, Galleria Mall, and entertainment. Downtown Buffalo is approximately a 13-minute drive away. Updates include paint in 2025, electrical work in 2018, a left-side hot water tank in 2021, and some newer windows.
Key Highlights
- Side‑by‑side duplex with two 2‑bedroom, 2‑bath units
- Renovated right‑side unit with updated kitchen, living room carpet, and bathroom finishes
- Detached two‑car garage plus additional rear parking
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
$15,479
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
6.73%
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%
$309,580
$309.6K
Cap Rate 7%
$221,129
$221.1K
Cap Rate 9%
$171,989
$172.0K
Market Conditions
NOI Build-Up for 1,560 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
$23.4K $15.00/SF
− Vacancy
−$1.3K −$0.83/SF
EGI
$22.1K $14.17/SF
− OpEx
−$6.6K −$4.25/SF
NOI
$15.5K $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%
$309,580
Cap Rate 7%
$221,129
Cap Rate 9%
$171,989
Alternative Uses
Best Use
Multifamily LT 5
$221.1K
$193.5K – $258.0K
NOI $15,479 @ 7.0% cap · market cap 6.73%
Second Best
Apartment 5plus
$203.7K
$178.2K – $237.6K
NOI $14,257 @ 7.0% cap · market cap 6.20%
Theoretical Best
Office A
$375.1K
$328.3K – $437.7K
NOI $26,260 @ 7.0% cap · market cap 11.42%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Yes
Highway access
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
394
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
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Frequently Asked Questions
What type of property is this?
Duplex - Two separate units offer updated interiors, laundry hookups, rear parking, and access to the Maryvale School District.
Where is this duplex located?
The property is located at 4493 Union Rd Buffalo, 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: Side‑by‑side duplex with two 2‑bedroom, 2‑bath units; Renovated right‑side unit with updated kitchen, living room carpet, and bathroom finishes; Detached two‑car garage plus additional rear parking
