Renovated 2-Unit
For Sale
$279,000
465 Woodlawn Avenue, Buffalo, NY 14208
Residential, Buffalo, NY
Property Size2,372 SF
Lot Size0.07 Acres
Price / SF$117.62
Days on Market92
Property Features for 465 Woodlawn Avenue
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Bedrooms
6
Bathrooms
2
Full bathrooms
2
Rooms
Bedroom 5, Bedroom 4, Bathroom 2, Bedroom 1, Bathroom 1, Basement, Bedroom 6, Bedroom 2, Bedroom 3
Appliances
GasWaterHeater
Subdivision
Park Land Associations
Lot features
Rectangular, Rectangular Lot, Residential Lot
Elementary school district
Buffalo
Middle school district
Buffalo
High school district
Buffalo
Directions
Humboldt Pkwy to Woodlawn
Standard status
Active
APN
140200-100-430-0001-004-000
Size
2,372 SF
Lot size
0.07 Acres
Taxes and HOA fees
Tax Annual Amount
724
Utilities
Heating system
Natural Gas, Forced Air
Water source
Public
Amenities
front porch
Building Details
Year built
1910
Floors in Building
2
Number of units
2
Flooring type
Vinyl, Hardwood, Varies
Building materials
VinylSiding
Architectural style
Other
Listing Agency:
WNY Metro Roberts Realty
(716) 875-2211
Listed By:
Badruddaza C Noman · License #10401373949
(347) 852-7169
Added: Jul 2
Changed: Sep 15
Last Checked: Oct 1 at 8:06PM
MLS# B1695246
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 2,372-square-foot duplex, built in 1910, contains two matching residential units. Each unit has three bedrooms, a kitchen, living room, dining area, and bathroom. The property also includes a full basement, full attic, front porch, hardwood and vinyl flooring, vinyl siding, and forced-air natural-gas heating.
Recent improvements include replacement windows, a metal roof, new siding, two furnaces, two water heaters, and updated kitchen and bathroom cabinets. The foundation is described as being in excellent condition. Public water serves the property, and the home is located near shopping, restaurants, schools, public transportation, and other amenities in Buffalo’s 14208 ZIP code.
Recent improvements include replacement windows, a metal roof, new siding, two furnaces, two water heaters, and updated kitchen and bathroom cabinets. The foundation is described as being in excellent condition. Public water serves the property, and the home is located near shopping, restaurants, schools, public transportation, and other amenities in Buffalo’s 14208 ZIP code.
Key Highlights
- Two‑unit duplex with 2,372 square feet of property size
- Each unit includes 3 bedrooms, a kitchen, living room, dining area, and bathroom
- Recent upgrades include replacement windows, metal roof, siding, 2 furnaces, and 2 water heaters
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
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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
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in Northeast region
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Frequently Asked Questions
What type of property is this?
Duplex - Updated two-family residence with separate heating and water-heating systems, full basement, attic, and front porch.
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 2,372 square feet of property size; Each unit includes 3 bedrooms, a kitchen, living room, dining area, and bathroom; Recent upgrades include replacement windows, metal roof, siding, 2 furnaces, and 2 water heaters
