Side-by-Side
For Sale
$219,900
Pending
4529 Union Road, Buffalo, NY 14225
Residential, Buffalo, NY
Property Size1,560 SF
Lot Size0.14 Acres
Days on Market56
Property Features for 4529 Union Road
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Bedrooms
4
Bathrooms
2
Full bathrooms
2
Rooms
Bathroom 1, Bedroom 3, Bedroom 4, Bedroom 2, Bedroom 1, Bathroom 2, Basement
Appliances
GasWaterHeater
Lot features
Rectangular, Rectangular Lot
Elementary school
Maryvale Primary
Middle school
Maryvale Middle
High school
Maryvale High
Elementary school district
Maryvale
Middle school district
Maryvale
High school district
Maryvale
Subdivision
Cheektowaga-143089
Standard status
Pending
APN
143089-091-080-0009-035-000
Size
1,560 SF
Lot size
0.14 Acres
Taxes and HOA fees
Tax Annual Amount
5851
Utilities
Heating system
Forced Air, Natural Gas
Water source
Public
Building Details
Year built
1943
Floors in Building
2
Number of units
2
Flooring type
Varies, Laminate, Carpet, Hardwood
Building materials
VinylSiding
Roof type
Asphalt
Architectural style
Other
Listing Agency:
Keller Williams Realty Lancaster
(716) 324-2300
Listed By:
Christine Dalfonso · License #10401294348
(716) 901-3004
Added: Jul 20
Changed: Sep 11
Last Checked: Sep 13 at 9:06AM
MLS# B1699929
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 side-by-side duplex contains 1,560 square feet across two residential units, with two bathrooms, four bedrooms, a basement, and separate utilities. The 1943 property has vinyl siding, asphalt roofing, public water, natural-gas forced-air heat, and a mix of carpet, hardwood, and laminate flooring. A gas water heater serves the property.
Recent capital improvements include an asphalt roof installed in 2022, vinyl replacement windows throughout, furnaces replaced in 2019, hot water tanks replaced in 2021, and electrical panels replaced in 2008. The 0.14-acre parcel includes parking behind the house and backs up to Maryvale High School. The property is located at 4529 Union Road in Buffalo, NY, with access to the area’s thruway system.
Recent capital improvements include an asphalt roof installed in 2022, vinyl replacement windows throughout, furnaces replaced in 2019, hot water tanks replaced in 2021, and electrical panels replaced in 2008. The 0.14-acre parcel includes parking behind the house and backs up to Maryvale High School. The property is located at 4529 Union Road in Buffalo, NY, with access to the area’s thruway system.
Key Highlights
- Side‑by‑side duplex totaling 1,560 square feet
- Four bedrooms, two bathrooms, and a basement
- Separate utilities for the two units
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
7.04%
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 7.04%
Second Best
Apartment 5plus
$203.7K
$178.2K – $237.6K
NOI $14,257 @ 7.0% cap · market cap 6.48%
Theoretical Best
Office A
$375.1K
$328.3K – $437.7K
NOI $26,260 @ 7.0% cap · market cap 11.94%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
2
Residential units
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
429
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
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
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-unit property with separate utilities, updated mechanical systems, and rear parking area.
Where is this duplex located?
The property is located at 4529 Union Road Buffalo, NY.
What is the asking price?
The asking price for this property is $219,900.
What are key features of this property?
This property features: Side‑by‑side duplex totaling 1,560 square feet; Four bedrooms, two bathrooms, and a basement; Separate utilities for the two units
