Duplex with
New
For Sale
$549,900
472 Woodward Avenue, Buffalo, NY 14214
Residential, Buffalo, NY
Property Size3,386 SF
Lot Size0.18 Acres
Price / SF$162.40
Days on Market3
Property Features for 472 Woodward Avenue
General Information
Property type
Residential Multi Family
Property subtype
Other
Bedrooms
5
Bathrooms
2
Full bathrooms
2
Rooms
Bedroom 2, Bathroom 2, Bathroom 1, Bedroom 3, Basement, Bedroom 1, Bedroom 4, Bedroom 5
Patio and Porch features
Porch
Interior features
Attic
Exterior features
Balcony, EnclosedPorch, Porch
Accessibility
Accessible Elevator Installed
Appliances
GasWaterHeater
Lot features
Irregular Lot, Residential Lot
Elementary school district
Buffalo
Middle school district
Buffalo
High school district
Buffalo
Directions
Parkside to Amherst to Woodward
Subdivision
Buffalo City-140200
Standard status
Active
APN
140200-089-260-0002-011-000
Size
3,386 SF
Lot size
0.18 Acres
Taxes and HOA fees
Tax Annual Amount
5453
Utilities
Heating system
Natural Gas, Forced Air
Cooling system
Central Air
Water source
Public
Amenities
in-unit laundry
hardwood floors
natural woodwork
open porch
Building Details
Year built
1900
Floors in Building
2
Number of units
2
Flooring type
Tile, Hardwood, Vinyl, Varies
Building materials
WoodSiding
Roof type
Asphalt
Listing Agency:
MJ Peterson Real Estate Inc.
(716) 819-4200
Listed By:
Christopher A Lavey · License #30LA0909869
(716) 480-9507
Added: Aug 26
Changed: Aug 27
Last Checked: Aug 28 at 11:06AM
MLS# B1709757
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-unit residential property contains 3386 square feet on a 0.1816-acre lot. Built in 1900, the wood-sided home includes front and rear porches, a 2.5-car garage, hardwood and tile flooring, an attic, basement, natural-gas forced-air heat, and central air conditioning. Public water serves the property.
The lower unit includes two bedrooms, an open living area, hardwood floors, natural woodwork, in-unit laundry, and an enclosed elevator lift providing accessibility. The property is located at 472 Woodward Avenue in Buffalo, near St. Mark's, Delaware Park, and the Buffalo Zoo. Exterior features include a balcony and enclosed porch, while the asphalt roof and gas water heater complete the core improvements.
The lower unit includes two bedrooms, an open living area, hardwood floors, natural woodwork, in-unit laundry, and an enclosed elevator lift providing accessibility. The property is located at 472 Woodward Avenue in Buffalo, near St. Mark's, Delaware Park, and the Buffalo Zoo. Exterior features include a balcony and enclosed porch, while the asphalt roof and gas water heater complete the core improvements.
Key Highlights
- 3386 square feet on a 0.1816‑acre lot
- Duplex configuration with a 2.5‑car garage
- Lower unit includes 2 bedrooms and in‑unit laundry
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-story duplex offers front and rear porches, natural woodwork, and an accessible elevator lift.
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: 3386 square feet on a 0.1816‑acre lot; Duplex configuration with a 2.5‑car garage; Lower unit includes 2 bedrooms and in‑unit laundry
