Two-Unit
New
For Sale
$299,000
58 Northrup Place, Buffalo, NY 14214
Both residences have four bedrooms, separate utilities, and their own kitchen and living space.
Property Size2,744 SF
Days on Market4
Property Features for 58 Northrup Place
General Information
Standard status
Active
Size
2,744 SF
Property subtype
Duplex
Site & Location
Neighborhood
University Heights
Public Transit
Yes
Units
Multifamily Units
2
Individually Metered Utilities
unspecified utilities
Additional Details
Tenant in Place
Yes
Taxes and HOA fees
Annual Taxes
$2,921
Building Details
Building Size
2,744 SF
Year Built
1875
Buildings
1
Listing Agency:
Keller Williams Realty WNY
Listed By:
Thejan Kodituwakku · License #10401342241
(716) 292-8756
Source:
Highfallssir
Added: Oct 21
Changed: Oct 23
Last Checked: Oct 23 at 6:00PM
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
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Investment Insights
Based on property information with market context.
This two-unit duplex contains eight bedrooms, with four in each residence. Both units have a kitchen and living area, and utilities are separate. A full basement offers additional storage. Built in 1875, the property has one unit currently rented and one available for occupancy or rental.
UB South Campus is within walking distance, along with transit, shopping, and nightlife. The property is in Buffalo’s University Heights area.
UB South Campus is within walking distance, along with transit, shopping, and nightlife. The property is in Buffalo’s University Heights area.
Key Highlights
- Eight bedrooms total, with four in each unit
- Separate utilities for each unit
- Full basement provides additional storage
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$27,227
Cap Rate
9.11%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$544,540
$544.5K
Cap Rate 7%
$388,957
$389.0K
Cap Rate 9%
$302,522
$302.5K
Market Conditions
NOI Build-Up for 2,744 SF
Gross rent
$41.2K $15.00/SF
− Vacancy
−$2.3K −$0.83/SF
EGI
$38.9K $14.17/SF
− OpEx
−$11.7K −$4.25/SF
NOI
$27.2K $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%
$544,540
Cap Rate 7%
$388,957
Cap Rate 9%
$302,522
Alternative Uses
Best Use
Multifamily LT 5
$389.0K
$340.3K – $453.8K
NOI $27,227 @ 7.0% cap · market cap 9.11%
Second Best
Apartment 5plus
$358.3K
$313.5K – $418.0K
NOI $25,078 @ 7.0% cap · market cap 8.39%
Theoretical Best
Office A
$659.9K
$577.4K – $769.9K
NOI $46,191 @ 7.0% cap · market cap 15.45%
Zoning and permitted uses should be independently verified with authorities.
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Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
1,009
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
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Market
Vacancy Rate% for Multifamily in Northeast region
Frequently Asked Questions
What type of property is this?
Duplex - Both residences have four bedrooms, separate utilities, and their own kitchen and living space.
Where is this duplex located?
The property is located at 58 Northrup Place Buffalo, NY.
What is the asking price?
The asking price for this property is $299,000.
What are key features of this property?
This property features: Eight bedrooms total, with four in each unit; Separate utilities for each unit; Full basement provides additional storage
