Two-Unit Multifamily
For Sale
$235,000
Pending
457 Vermont Street, Buffalo, NY 14213
Buffalo duplex with two-bedroom layouts, updated systems, and fenced outdoor space.
Property Size2,288 SF
Days on Market59
Property Features for 457 Vermont Street
General Information
Standard status
Pending
Size
2,288 SF
Property subtype
Multi Family
Units
Unit Mix
2 x 2BR/1BA
Multifamily Units
2
Taxes and HOA fees
Annual Taxes
$2,272
Amenities
fenced backyard
deck
partial basement
Building Details
Building Size
2,288 SF
Year Built
1900
Buildings
1
Listing Agency:
HUNT Real Estate ERA
Listed By:
Deacon Tasker · License #10401259325
(716) 208-7007
Source:
Highfallssir
Added: Aug 20
Changed: Oct 16
Last Checked: Oct 16 at 4:18PM
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.
This two-unit multifamily property contains approximately 2,288 square feet, with each residence offering two bedrooms, one full bathroom, a living room, dining areas, and a kitchen. Interior finishes include hardwood, laminate, and tile flooring. The lower apartment includes a larger kitchen, formal dining room, living room, and a bathroom renovated by the current owner, while the upper apartment provides comparable living space with separate kitchen and dining areas.
Major system updates include a roof installed in 2021, furnaces installed in 2021 and 2023, and updated hot water tanks. A partial basement provides utility and storage space. The fully fenced backyard includes a deck. The property is located on Vermont Street in Buffalo’s West Side, near Richmond Avenue and with access to the Elmwood Village.
Major system updates include a roof installed in 2021, furnaces installed in 2021 and 2023, and updated hot water tanks. A partial basement provides utility and storage space. The fully fenced backyard includes a deck. The property is located on Vermont Street in Buffalo’s West Side, near Richmond Avenue and with access to the Elmwood Village.
Key Highlights
- Two residential units, each with 2 bedrooms and 1 full bathroom
- Approximately 2,288 square feet across the property
- Roof installed in 2021; furnaces installed in 2021 and 2023
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$20,911
Cap Rate
8.90%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$418,220
$418.2K
Cap Rate 7%
$298,729
$298.7K
Cap Rate 9%
$232,344
$232.3K
Market Conditions
NOI Build-Up for 2,288 SF
Gross rent
$39.8K $17.40/SF
− Vacancy
−$1.8K −$0.78/SF
EGI
$38.0K $16.62/SF
− OpEx
−$17.1K −$7.48/SF
NOI
$20.9K $9.14/SF
Area
Buffalo, NY
Vacancy
4.50%
Lease Rate
$17.40 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$418,220
Cap Rate 7%
$298,729
Cap Rate 9%
$232,344
Alternative Uses
Best Use
Multifamily LT 5
$324.3K
$283.8K – $378.4K
NOI $22,703 @ 7.0% cap · market cap 9.66%
Second Best
Apartment 5plus
$298.7K
$261.4K – $348.5K
NOI $20,911 @ 7.0% cap · market cap 8.90%
Theoretical Best
Office A
$550.2K
$481.4K – $641.9K
NOI $38,515 @ 7.0% cap · market cap 16.39%
Zoning and permitted uses should be independently verified with authorities.
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Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
1,828
Businesses Nearby
Explore this area
Business Placement
Demographics for 14213, NY
25,834
Population
11,397
Households
2.3
Avg Household Size
30
Median Age
36%
College-Educated
81%
High-School Grad
1.9 sq mi
ZIP Area
13,597
Density / Sq Mi
$52,597
Median Household Income
$36,084
Median Earnings
$1,059
Median Rent
$192,300
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in Northeast region
Frequently Asked Questions
What type of property is this?
Duplex - Buffalo duplex with two-bedroom layouts, updated systems, and fenced outdoor space.
Where is this duplex located?
The property is located at 457 Vermont Street Buffalo, NY.
What is the asking price?
The asking price for this property is $235,000.
What are key features of this property?
This property features: Two residential units, each with 2 bedrooms and 1 full bathroom; Approximately 2,288 square feet across the property; Roof installed in 2021; furnaces installed in 2021 and 2023
