Duplex with Two-Car
For Sale
$329,900
Pending
46 Park Street, Buffalo, NY 14201
MULTI_FAMILY - Other - Buffalo, NY
Property Size1,695 SF
Lot Size0.07 Acres
Days on Market73
Property Features for 46 Park Street
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Bedrooms
3
Bathrooms
3
Full bathrooms
2
Half bathrooms
1
Rooms
Bedroom 3, Basement, Bathroom 3, Bathroom 1, Bedroom 1, Bathroom 2, Bedroom 2
Parking features
Open
Patio and Porch features
Porch, Patio
Interior features
CeilingFans
Exterior features
Fence, Patio
Fencing
Fenced
Fireplace
1
Appliances
GasWaterHeater
Lot features
Historic District, Near Public Transit, Rectangular, Rectangular Lot, Residential Lot
Elementary school district
Buffalo
Middle school district
Buffalo
High school district
Buffalo
Subdivision
Buffalo City-140200
Standard status
Pending
APN
140200-100-770-0007-016-000
Size
1,695 SF
Lot size
0.07 Acres
Taxes and HOA fees
Tax Annual Amount
3014
Utilities
Heating system
Hot Water(Heating), Baseboard, Natural Gas
Water source
Public
Amenities
patio
Building Details
Year built
1880
Floors in Building
1
Number of units
2
Flooring type
Tile, Hardwood, Varies
Building materials
WoodSiding, CopperPlumbing, PexPlumbing
Roof type
Asphalt
Architectural style
Other
Listing Agency:
Keller Williams Realty WNY
(716) 832-3300
Listed By:
Joseph G Saccone · License #40SA1032884
(716) 870-6226
Added: May 29
Changed: Aug 8
Last Checked: Aug 9 at 12:06PM
MLS# B1685168
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 duplex at 46 Park Street, Buffalo, NY 14201 offers a two-family setup with flexible layout and distinct living spaces. The front townhouse-style apartment features an open-concept first floor with a spacious living area, a large kitchen with plenty of cabinets, and a convenient half bath. Upstairs, you’ll find two bedrooms, a full bath, an open flex space, and a walk-in attic that provides private storage for the front apartment only. The rear apartment is a one-bedroom layout with a generously sized living room and direct access to the backyard.
Outside, the property includes a patio and fencing. A two-car garage provides additional off-street parking, accessed from De Rutte Alley. The home is heated with natural gas baseboard/hot water systems, includes hardwood and tile flooring, and has a wood siding exterior with an asphalt roof. Built in 1880, the property also features a fireplace and ceiling fans, with public water.
Set on a 0.0675-acre lot totaling 1,695 square feet, this property is well suited to owner-occupants seeking an additional income unit or investors looking for two separate living arrangements within one building.
Outside, the property includes a patio and fencing. A two-car garage provides additional off-street parking, accessed from De Rutte Alley. The home is heated with natural gas baseboard/hot water systems, includes hardwood and tile flooring, and has a wood siding exterior with an asphalt roof. Built in 1880, the property also features a fireplace and ceiling fans, with public water.
Set on a 0.0675-acre lot totaling 1,695 square feet, this property is well suited to owner-occupants seeking an additional income unit or investors looking for two separate living arrangements within one building.
Key Highlights
- Duplex configuration with a front townhouse‑style unit and a separate rear one‑bedroom apartment
- 0.0675‑acre lot with 1,695 square feet and a year built of 1880
- Two‑car garage accessed from De Rutte Alley plus patio and fenced outdoor space
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
$16,819
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
5.10%
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%
$336,380
$336.4K
Cap Rate 7%
$240,271
$240.3K
Cap Rate 9%
$186,878
$186.9K
Market Conditions
NOI Build-Up for 1,695 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
$25.4K $15.00/SF
− Vacancy
−$1.4K −$0.83/SF
EGI
$24.0K $14.17/SF
− OpEx
−$7.2K −$4.25/SF
NOI
$16.8K $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%
$336,380
Cap Rate 7%
$240,271
Cap Rate 9%
$186,878
Alternative Uses
Best Use
Multifamily LT 5
$240.3K
$210.2K – $280.3K
NOI $16,819 @ 7.0% cap · market cap 5.10%
Second Best
Apartment 5plus
$221.3K
$193.6K – $258.2K
NOI $15,491 @ 7.0% cap · market cap 4.70%
Theoretical Best
Office A
$407.6K
$356.7K – $475.6K
NOI $28,533 @ 7.0% cap · market cap 8.65%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
4,473
Businesses Nearby
Explore this area
Business Placement
Demographics for 14201, NY
12,364
Population
7,172
Households
1.7
Avg Household Size
33
Median Age
39%
College-Educated
84%
High-School Grad
1.1 sq mi
ZIP Area
11,240
Density / Sq Mi
$34,204
Median Household Income
$34,081
Median Earnings
$953
Median Rent
$327,900
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-family duplex with separate utilities, a backyard-access rear unit, and a two-car garage accessed from De Rutte Alley.
Where is this duplex located?
The property is located at 46 Park Street Buffalo, NY.
What is the asking price?
The asking price for this property is $329,900.
What are key features of this property?
This property features: Duplex configuration with a front townhouse‑style unit and a separate rear one‑bedroom apartment; 0.0675‑acre lot with 1,695 square feet and a year built of 1880; Two‑car garage accessed from De Rutte Alley plus patio and fenced outdoor space
