Updated Corner
For Sale
$209,900
507 Glenwood Avenue, Buffalo, NY 14208
MULTI_FAMILY - Buffalo, NY
Property Size2,020 SF
Lot Size0.08 Acres
Price / SF$103.91
Days on Market50
Property Features for 507 Glenwood Avenue
General Information
Property type
Residential Multi Family
Property subtype
Other
Bedrooms
5
Bathrooms
2
Full bathrooms
2
Rooms
Bedroom 4, Bathroom 2, Bathroom 1, Bedroom 2, Basement, Bedroom 3, Bedroom 1, Bedroom 5
Appliances
GasWaterHeater
Lot features
Near Public Transit, Rectangular, Rectangular Lot, Residential Lot
Elementary school district
Buffalo
Middle school district
Buffalo
High school district
Buffalo
Subdivision
Buffalo City-140200
Standard status
Active
APN
140200-100-430-0004-001-000
Size
2,020 SF
Lot size
0.08 Acres
Taxes and HOA fees
Tax Annual Amount
919
Utilities
Heating system
Forced Air, Natural Gas
Water source
Public
Building Details
Year built
1910
Floors in Building
2
Number of units
2
Flooring type
Varies, Hardwood, Vinyl
Building materials
Frame
Listing Agency:
Keller Williams Realty WNY
(716) 832-3300
Listed By:
Syed J Rizvi · License #10401279412
(716) 946-2700
Added: Jun 26
Changed: Aug 13
Last Checked: Aug 14 at 11:06AM
MLS# B1694312
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 updated corner duplex at 507 Glenwood Avenue offers a mix of modernized interior finishes and newly updated major systems. The home includes recent work such as new drywalls and insulation, a new roof, new heating equipment, a new hot water tank, and new plumbing. Brand new bathrooms with tile finishes add to the improvements.
The property is a frame structure with a stone foundation and a full, solid foundation. Utilities include public water, and the home is heated with forced air natural gas. A gas water heater is included.
The duplex configuration features great downstairs tenants and an upstairs that is vacant, supporting either owner-occupied use or rental income opportunity. Built in 1910, the property sits on a 0.0826-acre lot with 2,020 square feet of building area.
The property is a frame structure with a stone foundation and a full, solid foundation. Utilities include public water, and the home is heated with forced air natural gas. A gas water heater is included.
The duplex configuration features great downstairs tenants and an upstairs that is vacant, supporting either owner-occupied use or rental income opportunity. Built in 1910, the property sits on a 0.0826-acre lot with 2,020 square feet of building area.
Key Highlights
- Updated corner duplex with new drywalls and insulation
- New roof, new heating, and new hot water tank
- New plumbing plus brand new bathrooms with tile
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
$18,461
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
8.80%
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%
$369,220
$369.2K
Cap Rate 7%
$263,729
$263.7K
Cap Rate 9%
$205,122
$205.1K
Market Conditions
NOI Build-Up for 2,020 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
$35.1K $17.40/SF
− Vacancy
−$1.6K −$0.78/SF
EGI
$33.6K $16.62/SF
− OpEx
−$15.1K −$7.48/SF
NOI
$18.5K $9.14/SF
Area
Buffalo, NY
Vacancy
4.50%
Lease Rate
$17.40 /SF/Yr
Expense Ratio
45.00%
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%
$369,220
Cap Rate 7%
$263,729
Cap Rate 9%
$205,122
Alternative Uses
Best Use
Multifamily LT 5
$286.3K
$250.5K – $334.1K
NOI $20,043 @ 7.0% cap · market cap 9.55%
Second Best
Apartment 5plus
$263.7K
$230.8K – $307.7K
NOI $18,461 @ 7.0% cap · market cap 8.80%
Theoretical Best
Office A
$485.8K
$425.1K – $566.7K
NOI $34,004 @ 7.0% cap · market cap 16.20%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
644
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 - Corner duplex with recent interior and systems updates, including new roof, heating, hot water tank, plumbing, and bathrooms.
Where is this duplex located?
The property is located at 507 Glenwood Avenue Buffalo, NY.
What is the asking price?
The asking price for this property is $209,900.
What are key features of this property?
This property features: Updated corner duplex with new drywalls and insulation; New roof, new heating, and new hot water tank; New plumbing plus brand new bathrooms with tile
