Renovated Two-Family
For Sale
$249,900
6 Palos Place, Buffalo, NY 14215
Separate upper and lower residences offer flexible living arrangements with updated interiors and dedicated mechanical systems.
Property Size1,216 SF
Days on Market29
Property Features for 6 Palos Place
General Information
Standard status
Active
Size
1,216 SF
Property subtype
Multi Family
Units
Unit Mix
1 x 4BR/2BA, 1 x 2BR/1BA
Multifamily Units
2
Additional Details
Public Transit
Yes
Taxes and HOA fees
Annual Taxes
$992
Building Details
Building Size
1,216 SF
Year Built
1950
Listing Agency:
WNY Metro Roberts Realty
(917) 500-9227
Listed By:
Mohammed S Uddin · License #10401370001
(917) 500-9227
Source:
Highfallssir
Added: Jul 28
Changed: Aug 17
Last Checked: Aug 24 at 1:24PM
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 WNY Metro Roberts Realty
Investment Insights
Based on property information with market context.
This renovated duplex contains two separate residences with distinct layouts. The upper unit includes 4 bedrooms, 2 full bathrooms, a kitchen with dining space, and a living room. The lower unit provides 2 bedrooms, 1 full bathroom, a kitchen, and a living room with an adjoining dining area.
Recent work includes vinyl flooring throughout, refreshed bathrooms in both units, new furnaces, and new hot water tanks serving each residence. Built in 1950, the property is located near shopping, restaurants, schools, public transportation, and other everyday amenities. The configuration supports an owner-occupant arrangement with rental income from the second unit or use as a two-unit investment property.
Recent work includes vinyl flooring throughout, refreshed bathrooms in both units, new furnaces, and new hot water tanks serving each residence. Built in 1950, the property is located near shopping, restaurants, schools, public transportation, and other everyday amenities. The configuration supports an owner-occupant arrangement with rental income from the second unit or use as a two-unit investment property.
Key Highlights
- Two‑family duplex with separate upper and lower units
- Upper unit offers 4 bedrooms and 2 full bathrooms
- Lower unit includes 2 bedrooms and 1 full bathroom
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
$12,066
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
4.83%
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%
$241,320
$241.3K
Cap Rate 7%
$172,371
$172.4K
Cap Rate 9%
$134,067
$134.1K
Market Conditions
NOI Build-Up for 1,216 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
$18.2K $15.00/SF
− Vacancy
−$1.0K −$0.83/SF
EGI
$17.2K $14.17/SF
− OpEx
−$5.2K −$4.25/SF
NOI
$12.1K $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%
$241,320
Cap Rate 7%
$172,371
Cap Rate 9%
$134,067
Alternative Uses
Best Use
Multifamily LT 5
$172.4K
$150.8K – $201.1K
NOI $12,066 @ 7.0% cap · market cap 4.83%
Second Best
Apartment 5plus
$158.8K
$138.9K – $185.2K
NOI $11,113 @ 7.0% cap · market cap 4.45%
Theoretical Best
Office A
$292.4K
$255.9K – $341.2K
NOI $20,470 @ 7.0% cap · market cap 8.19%
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
986
Businesses Nearby
Explore this area
Business Placement
Demographics for 14215, NY
42,447
Population
19,203
Households
2.2
Avg Household Size
33
Median Age
19%
College-Educated
87%
High-School Grad
4.8 sq mi
ZIP Area
8,843
Density / Sq Mi
$43,326
Median Household Income
$29,204
Median Earnings
$993
Median Rent
$102,800
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 - Separate upper and lower residences offer flexible living arrangements with updated interiors and dedicated mechanical systems.
Where is this duplex located?
The property is located at 6 Palos Place Buffalo, NY.
What is the asking price?
The asking price for this property is $249,900.
What are key features of this property?
This property features: Two‑family duplex with separate upper and lower units; Upper unit offers 4 bedrooms and 2 full bathrooms; Lower unit includes 2 bedrooms and 1 full bathroom
