Two-Story Duplex with
New
For Sale
$549,900
472 Woodward Avenue, Buffalo, NY 14214
Two-family property with covered porches, a tree-filled lot, and an accessible lower apartment with private laundry.
Property Size3,386 SF
Days on Market6
Property Features for 472 Woodward Avenue
General Information
Standard status
Active
Size
3,386 SF
Elevators
Yes
Property subtype
Multi Family
Additional Details
Multifamily Units
2
Taxes and HOA fees
Annual Taxes
$5,453
Building Details
Building Size
3,386 SF
Year Built
1900
Buildings
1
Listing Agency:
MJ Peterson Real Estate Inc.
(716) 480-9507
Listed By:
Christopher A Lavey · License #30LA0909869
(716) 480-9507
Source:
Highfallssir
Added: Aug 26
Changed: Aug 30
Last Checked: Aug 31 at 12:16AM
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 MJ Peterson Real Estate Inc.
Investment Insights
Based on property information with market context.
Built in 1900, this two-story duplex includes separate residential space, front and rear open porches, and a 2.5-car garage. The lower apartment offers two bedrooms, a spacious open area, hardwood flooring, natural woodwork, in-unit laundry, and an enclosed elevator lift providing handicap accessibility.
The property sits near St. Mark's, Delaware Park, and the Buffalo Zoo. Its established setting, mature trees, porch areas, and garage provide useful exterior and storage features for a residential income property.
The property sits near St. Mark's, Delaware Park, and the Buffalo Zoo. Its established setting, mature trees, porch areas, and garage provide useful exterior and storage features for a residential income property.
Key Highlights
- Two‑family, two‑story duplex built in 1900
- Lower apartment includes 2 bedrooms and a large open area
- Hardwood floors and natural woodwork in the lower unit
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
$33,598
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
6.11%
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%
$671,960
$672.0K
Cap Rate 7%
$479,971
$480.0K
Cap Rate 9%
$373,311
$373.3K
Market Conditions
NOI Build-Up for 3,386 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
$50.8K $15.00/SF
− Vacancy
−$2.8K −$0.83/SF
EGI
$48.0K $14.17/SF
− OpEx
−$14.4K −$4.25/SF
NOI
$33.6K $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%
$671,960
Cap Rate 7%
$479,971
Cap Rate 9%
$373,311
Alternative Uses
Best Use
Multifamily LT 5
$480.0K
$420.0K – $560.0K
NOI $33,598 @ 7.0% cap · market cap 6.11%
Second Best
Apartment 5plus
$442.1K
$386.8K – $515.8K
NOI $30,946 @ 7.0% cap · market cap 5.63%
Theoretical Best
Office A
$814.3K
$712.5K – $950.0K
NOI $56,999 @ 7.0% cap · market cap 10.37%
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
1,088
Businesses Nearby
Explore this area
Business Placement
Demographics for 14214, NY
20,732
Population
9,280
Households
2.2
Avg Household Size
32
Median Age
46%
College-Educated
90%
High-School Grad
3.3 sq mi
ZIP Area
6,282
Density / Sq Mi
$56,573
Median Household Income
$29,928
Median Earnings
$1,072
Median Rent
$234,600
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 property with covered porches, a tree-filled lot, and an accessible lower apartment with private laundry.
Where is this duplex located?
The property is located at 472 Woodward Avenue Buffalo, NY.
What is the asking price?
The asking price for this property is $549,900.
What are key features of this property?
This property features: Two‑family, two‑story duplex built in 1900; Lower apartment includes 2 bedrooms and a large open area; Hardwood floors and natural woodwork in the lower unit
