Renovated Two-Unit
For Sale
$279,000
465 Woodlawn Avenue, Buffalo, NY 14208
Two updated residential units include kitchens, living areas, and dining spaces.
Property Size2,372 SF
Days on Market59
Property Features for 465 Woodlawn Avenue
General Information
Standard status
Active
Size
2,372 SF
Property subtype
Multi Family Home
Units
Unit Mix
2 x 3BR
Multifamily Units
2
Additional Details
Public Transit
Yes
Taxes and HOA fees
Annual Taxes
$724
Amenities
front porch
Building Details
Building Size
2,372 SF
Year Built
1910
Buildings
1
Stories
2
Units
2
Listing Agency:
WNY Metro Roberts Realty
(347) 852-7169
Listed By:
Badruddaza C Noman · License #10401373949
(347) 852-7169
Source:
Northstarwny
Added: Jul 2
Changed: Aug 28
Last Checked: Aug 28 at 8:05PM
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 WNY Metro Roberts Realty
Investment Insights
Based on property information with market context.
Built in 1910, this two-unit duplex contains matching residential layouts, with each unit offering three bedrooms, a kitchen, a living room, and a dining area. Recent improvements include replacement windows, a metal roof, new siding, two furnaces, two water heaters, and updated kitchen and bathroom cabinetry.
The property also provides a full basement, full attic, and front porch. Its Buffalo setting offers access to shopping, restaurants, schools, public transportation, and other nearby amenities. The configuration combines two separate living spaces with substantial lower- and upper-level storage areas.
The property also provides a full basement, full attic, and front porch. Its Buffalo setting offers access to shopping, restaurants, schools, public transportation, and other nearby amenities. The configuration combines two separate living spaces with substantial lower- and upper-level storage areas.
Key Highlights
- Two‑unit duplex with matching layouts
- Each unit includes 3 bedrooms, a kitchen, living room, and dining area
- Recent upgrades include all windows, metal roof, siding, and cabinetry
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
$23,536
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
8.44%
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%
$470,720
$470.7K
Cap Rate 7%
$336,229
$336.2K
Cap Rate 9%
$261,511
$261.5K
Market Conditions
NOI Build-Up for 2,372 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
$35.6K $15.00/SF
− Vacancy
−$2.0K −$0.83/SF
EGI
$33.6K $14.17/SF
− OpEx
−$10.1K −$4.25/SF
NOI
$23.5K $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%
$470,720
Cap Rate 7%
$336,229
Cap Rate 9%
$261,511
Alternative Uses
Best Use
Multifamily LT 5
$336.2K
$294.2K – $392.3K
NOI $23,536 @ 7.0% cap · market cap 8.44%
Second Best
Apartment 5plus
$309.7K
$271.0K – $361.3K
NOI $21,679 @ 7.0% cap · market cap 7.77%
Theoretical Best
Office A
$570.4K
$499.1K – $665.5K
NOI $39,929 @ 7.0% cap · market cap 14.31%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
645
Businesses Nearby
Explore this area
Business Placement
Demographics for 14208, NY
12,088
Population
5,884
Households
2.1
Avg Household Size
33
Median Age
23%
College-Educated
85%
High-School Grad
1.2 sq mi
ZIP Area
10,073
Density / Sq Mi
$46,940
Median Household Income
$23,804
Median Earnings
$932
Median Rent
$118,900
Median Home Value
Market
Vacancy Rate% for Multifamily in Northeast region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Duplex - Two updated residential units include kitchens, living areas, and dining spaces.
Where is this duplex located?
The property is located at 465 Woodlawn Avenue Buffalo, NY.
What is the asking price?
The asking price for this property is $279,000.
What are key features of this property?
This property features: Two‑unit duplex with matching layouts; Each unit includes 3 bedrooms, a kitchen, living room, and dining area; Recent upgrades include all windows, metal roof, siding, and cabinetry
