Character Duplex with Two-Car
For Sale
$299,900
Pending
454 Colvin Avenue, Buffalo, NY 14216
Two-family property with original architectural details, tenant-occupied upper residence, private outdoor space, and substantial storage.
Property Size2,560 SF
Days on Market53
Property Features for 454 Colvin Avenue
General Information
Standard status
Pending
Size
2,560 SF
Total Parking Spaces
2
Property subtype
Duplex
Site & Location
Neighborhood
North Park
Units
Unit Mix
2 x 3BR/1BA
Multifamily Units
2
Taxes and HOA fees
Annual Taxes
$4,023
Amenities
covered front porch
leaded glass transom windows
box-beam ceilings
craftsman columns
brick fireplace surround
original hardwood floors
multi-level back deck
fenced backyard
full basement
walk-up attic
Building Details
Building Size
2,560 SF
Year Built
1923
Listing Agency:
Keller Williams Realty WNY
Listed By:
Daniel C Pratt · License #10401367967
(716) 341-5835
Source:
Highfallssir
Added: Sep 7
Changed: Oct 29
Last Checked: Oct 28 at 4:12PM
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
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Investment Insights
Based on property information with market context.
Built in 1923, this two-unit property combines preserved architectural character with practical residential features. The lower residence includes a living room with box-beam ceilings, craftsman columns, leaded-glass transoms, a brick fireplace surround, hardwood flooring, a front room, formal dining room, eat-in kitchen, three bedrooms, and an updated full bathroom. A bedroom opens directly to the rear deck. The upper unit follows the same general layout and is currently tenant-occupied.
Exterior amenities include a covered front porch, private multi-level rear deck, fenced grassy yard, detached two-car garage, and triple-wide driveway for additional off-street parking. A full dry basement provides storage below, while a walk-up attic offers further usable space above. The property is located in North Buffalo near Hertel Avenue shops and restaurants and within walking distance of Delaware Park.
Exterior amenities include a covered front porch, private multi-level rear deck, fenced grassy yard, detached two-car garage, and triple-wide driveway for additional off-street parking. A full dry basement provides storage below, while a walk-up attic offers further usable space above. The property is located in North Buffalo near Hertel Avenue shops and restaurants and within walking distance of Delaware Park.
Key Highlights
- Two‑unit residential property built in 1923
- Upper unit is tenant‑occupied and generating rental income
- Lower unit includes three bedrooms and an updated full bathroom
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$25,402
Cap Rate
8.47%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$508,040
$508.0K
Cap Rate 7%
$362,886
$362.9K
Cap Rate 9%
$282,244
$282.2K
Market Conditions
NOI Build-Up for 2,560 SF
Gross rent
$38.4K $15.00/SF
− Vacancy
−$2.1K −$0.83/SF
EGI
$36.3K $14.17/SF
− OpEx
−$10.9K −$4.25/SF
NOI
$25.4K $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%
$508,040
Cap Rate 7%
$362,886
Cap Rate 9%
$282,244
Alternative Uses
Best Use
Multifamily LT 5
$362.9K
$317.5K – $423.4K
NOI $25,402 @ 7.0% cap · market cap 8.47%
Second Best
Apartment 5plus
$334.2K
$292.5K – $390.0K
NOI $23,397 @ 7.0% cap · market cap 7.80%
Theoretical Best
Office A
$615.6K
$538.7K – $718.2K
NOI $43,094 @ 7.0% cap · market cap 14.37%
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
1,098
Businesses Nearby
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Business Placement
Demographics for 14216, NY
22,979
Population
12,773
Households
1.8
Avg Household Size
37
Median Age
54%
College-Educated
94%
High-School Grad
2.8 sq mi
ZIP Area
8,207
Density / Sq Mi
$70,260
Median Household Income
$47,823
Median Earnings
$1,152
Median Rent
$260,700
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-family property with original architectural details, tenant-occupied upper residence, private outdoor space, and substantial storage.
Where is this duplex located?
The property is located at 454 Colvin Avenue Buffalo, NY.
What is the asking price?
The asking price for this property is $299,900.
What are key features of this property?
This property features: Two‑unit residential property built in 1923; Upper unit is tenant‑occupied and generating rental income; Lower unit includes three bedrooms and an updated full bathroom
