Building Details

Building Size 2,650 SF

Year Built 1902

Construction Arts & Crafts

Listing Agency: Gurney Becker & Bourne

Listed By: Carmelo A Parlato · License #10401209029 Show Phone

Source: Highfallssir

Added: Oct 10 Changed: Oct 17 Last Checked: Oct 16 at 4:48PM

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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 Gurney Becker & Bourne

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Investment Insights

Based on property information with market context.

This two-unit duplex dates to 1902 and features an Arts and Crafts design with a pebble-dash exterior. The matching residences each contain three bedrooms and one full bath, along with hardwood floors, pocket doors, detailed wood trim, and decorative brick fireplaces. A full basement and full attic provide additional interior space. The property also has front and rear porches on both levels, a recently replaced roof, and a concrete driveway.

Set at the corner of Potomac Avenue and Claremont, the home is two blocks from Elmwood Avenue. The AKG Art Museum and Buffalo State University are within walking distance.

Key Highlights

• Two‑unit duplex built in 1902
• Each unit has 3 bedrooms and 1 full bath
• Matching layouts with hardwood floors, pocket doors, and decorative brick fireplaces

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$26,295

Cap Rate

7.01%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$525,900 $525.9K

Cap Rate 7%

$375,643 $375.6K

Cap Rate 9%

$292,167 $292.2K

Is this asking price fair?

Market Conditions

NOI Build-Up for 2,650 SF

Gross rent

$39.8K $15.00/SF

− Vacancy

−$2.2K −$0.83/SF

EGI

$37.6K $14.17/SF

− OpEx

−$11.3K −$4.25/SF

NOI

$26.3K $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 Rate 5%

$525,900

Cap Rate 7%

$375,643

Cap Rate 9%

$292,167

Alternative Uses

Best Use

Multifamily LT 5

$375.6K

$328.7K – $438.3K (±1% cap)

NOI $26,295 @ 7.0% cap · market cap 7.01%

Second Best

Apartment 5plus

$346.0K

$302.7K – $403.7K (±1% cap)

NOI $24,219 @ 7.0% cap · market cap 6.46%

Theoretical Best

Office A

$637.3K

$557.6K – $743.5K (±1% cap)

NOI $44,609 @ 7.0% cap · market cap 11.90%

Zoning and permitted uses should be independently verified with authorities. How Realmo checks its estimates

Property Analytics

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Current Use

Duplexes

Suggested Use

Top Pick Dental Office Electrical Service HVAC Service (Bike/Boat/Book/etc) Store Acupuncture Home Appliance Store

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Lease Details

2

Residential units

Yes

Paved road access

Location Intelligence

Trade Area within ½ mile

1,010

Businesses Nearby

Explore this area Business Placement

Demographics for 14222, NY

13,629

Population

7,355

Households

1.9

Avg Household Size

32

Median Age

63%

College-Educated

98%

High-School Grad

1.2 sq mi

ZIP Area

11,358

Density / Sq Mi

$83,692

Median Household Income

$50,045

Median Earnings

$1,168

Median Rent

$408,100

Median Home Value

Market

Vacancy Rate% for Multifamily in Northeast region

4% 2022

4.6% 2023

5.3% 2024

5.6% 2025

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Frequently Asked Questions

What type of property is this?

Duplex - Both residences offer three bedrooms, hardwood flooring, pocket doors, and a full bath.

Where is this duplex located?

The property is located at 531 Potomac Avenue Buffalo, NY.

What is the asking price?

The asking price for this property is $375,000.

What are key features of this property?

This property features: Two‑unit duplex built in 1902; Each unit has 3 bedrooms and 1 full bath; Matching layouts with hardwood floors, pocket doors, and decorative brick fireplaces