Two-Family Residence with Double
47 Fargo Avenue Buffalo, NY 14201
For Sale
$419,900
MULTI_FAMILY - Buffalo, NY
Property Size3,952 SF
Lot Size0.13 Acres
Price / SF$106.25
Days on Market95
Property Features for 47 Fargo Avenue
General Information
Property type
Residential Multi Family
Property subtype
Other
Bedrooms
6
Bathrooms
2
Rooms
Bathroom 2, Bedroom 2, Bedroom 5, Bathroom 1, Basement, Bedroom 4, Bedroom 6, Bedroom 1, Bedroom 3
Appliances
GasWaterHeater
Standard status
Active
APN
140200-099-840-0003-039-000
Size
3,952 SF
Lot size
0.13 Acres
Taxes and HOA fees
Tax Annual Amount
2801
Utilities
Heating system
Natural Gas, Forced Air
Water source
Public
Building Details
Year built
1900
Floors in Building
2
Number of units
2
Flooring type
Tile, Hardwood, Varies
Listing Agency:
Keller Williams Realty WNY
(716) 832-3300
Listed By:
Damian O'Meally · License #10401279028
(585) 775-5169
Added: Apr 26
Changed: Jul 28
Last Checked: Jul 29 at 5:06PM
MLS# B1674913
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 two-family residence offers a flexible 3/3 style layout with a spacious two-story owner’s suite and multiple balconies. The home includes a large kitchen suited for entertaining, plus a convenient second-floor laundry room. Interior details include original architectural character, hardwood floors, and updated windows, along with forced-air heating, a full basement, and a roof estimated at six years old. Each unit has separate utilities. Apartment 1 is currently producing $1,400 per month. The second-floor unit is vacant and features high ceilings, a spacious living area, a formal dining room, ample storage, and access to a rear patio and a former koi pond.
The property is located in Buffalo, NY, within the Fargo Estate Historic District in Erie County. It also includes a fully fenced, park-like adjoining lot with mature trees and lush greenery, providing an outdoor setting for recreation, gardening, or quiet relaxation. Off-street parking accommodates multiple vehicles, with potential for expansion.
For tenants, this configuration supports comfortable, self-contained living with dedicated utility arrangements. For buyers or owners, the combination of an income-producing unit, a vacant second unit, and an outdoor space that extends beyond the main building can support a variety of residential income strategies while keeping day-to-day operations straightforward.
The property is located in Buffalo, NY, within the Fargo Estate Historic District in Erie County. It also includes a fully fenced, park-like adjoining lot with mature trees and lush greenery, providing an outdoor setting for recreation, gardening, or quiet relaxation. Off-street parking accommodates multiple vehicles, with potential for expansion.
For tenants, this configuration supports comfortable, self-contained living with dedicated utility arrangements. For buyers or owners, the combination of an income-producing unit, a vacant second unit, and an outdoor space that extends beyond the main building can support a variety of residential income strategies while keeping day-to-day operations straightforward.
Key Highlights
- Two‑family home set on over one‑third of an acre in the Fargo Estate Historic District
- Apartment 1 currently rents for $1,400/month; second‑floor unit is vacant
- Spacious 3/3 layout with a two‑story owner’s suite and multiple balconies
Financial Insights For Apartment 5plus
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $68.8k | $17.40 |
| − Vacancy | −$3.1k | −$0.78 |
| EGI | $65.7k | $16.62 |
| − OpEx | −$29.6k | −$7.48 |
| NOI | $36.1k | $9.14 |
3,952 SF · lease $17.40/SF/yr · vacancy 4.50% · expense 45.00%
Alternative Uses
Best Use
Multifamily LT 5
$560.2K
$490.2K – $653.6K
NOI $39,214 @ 7.0% cap · market cap 9.34%
Second Best
Apartment 5plus
$516.0K
$451.5K – $602.0K
NOI $36,119 @ 7.0% cap · market cap 8.60%
Theoretical Best
Office A
$950.4K
$831.6K – $1.11M
NOI $66,526 @ 7.0% cap · market cap 15.84%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use
Frequently Asked Questions
What type of property is this?
Duplex - Income-generating two-family home with separate utilities, off-street parking, and a fenced adjoining lot for outdoor use.
Where is this duplex located?
The property is located at 47 Fargo Avenue Buffalo, NY.
What is the asking price?
The asking price for this property is $419,900.
What are key features of this property?
This property features: Two‑family home set on over one‑third of an acre in the Fargo Estate Historic District; Apartment 1 currently rents for $1,400/month; second‑floor unit is vacant; Spacious 3/3 layout with a two‑story owner’s suite and multiple balconies
