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 Market75
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
Listed By:
Mohammed S Uddin · License #10401370001
(917) 500-9227
Source:
Highfallssir
Added: Jul 28
Changed: Sep 27
Last Checked: Oct 10 at 1:28AM
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 / Yr
$12,066
Cap Rate
4.83%
Suggested Prices Based on Cap Rates
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
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 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
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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
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Market
Vacancy Rate% for Multifamily in Northeast region
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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
