Updated Duplex with Two
For Sale
$199,000
57 Floss Ave, Buffalo, NY 14211
Each residence includes two bedrooms, one full bathroom, a kitchen, living space, and comfortable bedroom areas.
Property Size1,791 SF
Price / SF$111.11
Days on Market14
Property Features for 57 Floss Ave
General Information
Standard status
Active
Size
1,791 SF
Property subtype
Multi-Family
Units
Unit Mix
2 x 2BR/1BA
Multifamily Units
2
Building Details
Year Built
1923
Buildings
1
Listing Agency:
Keller Williams Realty WNY
(929) 326-4912
Listed By:
Shirajum Monira · License #10401363530
Source:
Skinnercnyrealty
Added: Aug 18
Changed: Aug 30
Last Checked: Aug 30 at 8:05PM
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 Keller Williams Realty WNY
Investment Insights
Based on property information with market context.
This two-unit residential property contains 1,791 square feet and was built in 1923. The lower and upper residences each provide two bedrooms and one full bathroom, along with separate kitchens, living areas, and updated bath finishes. Recent improvements include replacement drywall, windows, and flooring, supporting immediate occupancy without identified near-term work.
Located at 57 Floss Ave in Buffalo, the property is positioned near local amenities, shopping, and transportation. The two-unit layout supports separate residential use, with the physical configuration allowing occupancy of one unit while the other is rented, or rental use across both residences.
Located at 57 Floss Ave in Buffalo, the property is positioned near local amenities, shopping, and transportation. The two-unit layout supports separate residential use, with the physical configuration allowing occupancy of one unit while the other is rented, or rental use across both residences.
Key Highlights
- Two‑unit property with 2 bedrooms and 1 full bathroom in each residence
- 1,791 square feet on two residential levels
- Recent updates include drywall, windows, flooring, and bathroom improvements
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
$17,771
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
8.93%
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%
$355,420
$355.4K
Cap Rate 7%
$253,871
$253.9K
Cap Rate 9%
$197,456
$197.5K
Market Conditions
NOI Build-Up for 1,791 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
$26.9K $15.00/SF
− Vacancy
−$1.5K −$0.83/SF
EGI
$25.4K $14.17/SF
− OpEx
−$7.6K −$4.25/SF
NOI
$17.8K $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%
$355,420
Cap Rate 7%
$253,871
Cap Rate 9%
$197,456
Alternative Uses
Best Use
Multifamily LT 5
$253.9K
$222.1K – $296.2K
NOI $17,771 @ 7.0% cap · market cap 8.93%
Second Best
Apartment 5plus
$233.8K
$204.6K – $272.8K
NOI $16,369 @ 7.0% cap · market cap 8.23%
Theoretical Best
Office A
$430.7K
$376.9K – $502.5K
NOI $30,149 @ 7.0% cap · market cap 15.15%
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
643
Businesses Nearby
Explore this area
Business Placement
Demographics for 14211, NY
26,449
Population
11,498
Households
2.3
Avg Household Size
32
Median Age
15%
College-Educated
84%
High-School Grad
3.9 sq mi
ZIP Area
6,782
Density / Sq Mi
$34,490
Median Household Income
$30,705
Median Earnings
$1,008
Median Rent
$91,600
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 - Each residence includes two bedrooms, one full bathroom, a kitchen, living space, and comfortable bedroom areas.
Where is this duplex located?
The property is located at 57 Floss Ave Buffalo, NY.
What is the asking price?
The asking price for this property is $199,000.
What are key features of this property?
This property features: Two‑unit property with 2 bedrooms and 1 full bathroom in each residence; 1,791 square feet on two residential levels; Recent updates include drywall, windows, flooring, and bathroom improvements
