Updated Two-Family Duplex with
New
For Sale
$399,900
510 Linwood Avenue, Buffalo, NY 14209
Brick-and-stucco property with renovated interiors and flexible month-to-month tenancy.
Property Size2,792 SF
Days on Market4
Property Features for 510 Linwood Avenue
General Information
Standard status
Active
Size
2,792 SF
Property subtype
Multi Family
Additional Details
Multifamily Units
2
Taxes and HOA fees
Annual Taxes
$4,480
Amenities
enclosed front porch
open porch
hardwood floors
natural woodwork
solid surface counters
ceramic tile bathrooms
shared driveway
three-car garage
Building Details
Building Size
2,792 SF
Year Built
1900
Buildings
1
Construction
brick & stucco
Tenancy
Multi
Listing Agency:
Howard Hanna WNY Inc
Listed By:
Kathleen E Quebral · License #10301209822
(716) 903-2530
Source:
Highfallssir
Added: Sep 1
Changed: Sep 3
Last Checked: Sep 3 at 2:01AM
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 Howard Hanna WNY Inc
Investment Insights
Based on property information with market context.
This brick-and-stucco duplex, built in 1900, contains two apartments with renovated kitchens featuring solid-surface counters and ceramic-tile bathrooms. Hardwood flooring and natural woodwork add character throughout both units. The lower apartment includes an enclosed 10' x 18' front porch, while the upper apartment has an open porch of the same size. A shared driveway, three-car garage, and parking space for up to two vehicles provide useful exterior amenities.
Both apartments are leased month to month, and the current tenants are interested in remaining. The property is in Buffalo, just east of Elmwood Village, with Delaware Park, downtown, theaters, restaurants, and schools identified nearby.
Both apartments are leased month to month, and the current tenants are interested in remaining. The property is in Buffalo, just east of Elmwood Village, with Delaware Park, downtown, theaters, restaurants, and schools identified nearby.
Key Highlights
- Two‑family duplex with brick‑and‑stucco exterior, built in 1900
- Renovated kitchens with solid‑surface counters in both apartments
- Ceramic‑tile bathrooms and hardwood floors throughout the units
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
$27,704
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
6.93%
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%
$554,080
$554.1K
Cap Rate 7%
$395,771
$395.8K
Cap Rate 9%
$307,822
$307.8K
Market Conditions
NOI Build-Up for 2,792 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
$41.9K $15.00/SF
− Vacancy
−$2.3K −$0.83/SF
EGI
$39.6K $14.17/SF
− OpEx
−$11.9K −$4.25/SF
NOI
$27.7K $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%
$554,080
Cap Rate 7%
$395,771
Cap Rate 9%
$307,822
Alternative Uses
Best Use
Multifamily LT 5
$395.8K
$346.3K – $461.7K
NOI $27,704 @ 7.0% cap · market cap 6.93%
Second Best
Apartment 5plus
$364.5K
$319.0K – $425.3K
NOI $25,517 @ 7.0% cap · market cap 6.38%
Theoretical Best
Office A
$671.4K
$587.5K – $783.3K
NOI $46,999 @ 7.0% cap · market cap 11.75%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
1,875
Businesses Nearby
Explore this area
Business Placement
Demographics for 14209, NY
8,251
Population
4,729
Households
1.7
Avg Household Size
39
Median Age
46%
College-Educated
90%
High-School Grad
1.0 sq mi
ZIP Area
8,251
Density / Sq Mi
$49,359
Median Household Income
$33,329
Median Earnings
$1,025
Median Rent
$408,600
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 - Brick-and-stucco property with renovated interiors and flexible month-to-month tenancy.
Where is this duplex located?
The property is located at 510 Linwood Avenue Buffalo, NY.
What is the asking price?
The asking price for this property is $399,900.
What are key features of this property?
This property features: Two‑family duplex with brick‑and‑stucco exterior, built in 1900; Renovated kitchens with solid‑surface counters in both apartments; Ceramic‑tile bathrooms and hardwood floors throughout the units
