Updated Duplex with Detached
For Sale
$259,900
Pending
610 Ontario Street, Buffalo, NY 14207
Two refreshed residential units support owner-occupancy or rental use with functional living areas and private parking.
Property Size2,184 SF
Days on Market238
Property Features for 610 Ontario Street
General Information
Standard status
Pending
Size
2,184 SF
Property subtype
Multi-Family
Additional Details
Multifamily Units
2
Amenities
Gas
Full
3
Hardwood, Tile, Ceramic Tile, Vinyl
Stove
1 Garage Spaces.
Frame
Rectangular
30X112
City Road, Rectangular.
Building Details
Year Built
1920
Listing Agency:
716 Realty Group WNY LLC
(716) 495-5961
Listed By:
Walaa Kadhum · License #10401363055
(716) 495-5961
Source:
Xome
Added: Jan 6
Changed: Aug 31
Last Checked: Aug 31 at 2:18PM
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 716 Realty Group WNY LLC
Investment Insights
Based on property information with market context.
Located at 610 Ontario Street, this duplex contains two residential units, each with 3 bedrooms and 1 full bathroom. The 2184-square-foot property has been updated with vinyl plank flooring, fresh paint, revised fixtures, and improvements to plumbing, electrical, and other major systems. Interior features include hardwood, tile, ceramic tile, and vinyl flooring, along with a full attic and a full basement with epoxy flooring.
The property includes a private driveway and detached garage with 1 garage space. Built in 1920, the frame building sits on a rectangular 30X112 lot along a city road. Its Riverside neighborhood setting places the property near shopping, dining, parks, and major routes. The layout supports either owner occupancy or continued use as a two-unit residential income property.
The property includes a private driveway and detached garage with 1 garage space. Built in 1920, the frame building sits on a rectangular 30X112 lot along a city road. Its Riverside neighborhood setting places the property near shopping, dining, parks, and major routes. The layout supports either owner occupancy or continued use as a two-unit residential income property.
Key Highlights
- Two‑unit duplex with 3 bedrooms and 1 full bathroom in each unit
- 2184 square feet of building area
- Updated plumbing, electrical, fixtures, flooring, and other major systems
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
$21,671
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
8.34%
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%
$433,420
$433.4K
Cap Rate 7%
$309,586
$309.6K
Cap Rate 9%
$240,789
$240.8K
Market Conditions
NOI Build-Up for 2,184 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
$32.8K $15.00/SF
− Vacancy
−$1.8K −$0.83/SF
EGI
$31.0K $14.17/SF
− OpEx
−$9.3K −$4.25/SF
NOI
$21.7K $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%
$433,420
Cap Rate 7%
$309,586
Cap Rate 9%
$240,789
Alternative Uses
Best Use
Multifamily LT 5
$309.6K
$270.9K – $361.2K
NOI $21,671 @ 7.0% cap · market cap 8.34%
Second Best
Apartment 5plus
$285.1K
$249.5K – $332.7K
NOI $19,960 @ 7.0% cap · market cap 7.68%
Theoretical Best
Office A
$525.2K
$459.6K – $612.8K
NOI $36,765 @ 7.0% cap · market cap 14.15%
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
482
Businesses Nearby
Explore this area
Business Placement
Demographics for 14207, NY
26,006
Population
11,317
Households
2.3
Avg Household Size
32
Median Age
19%
College-Educated
79%
High-School Grad
3.9 sq mi
ZIP Area
6,668
Density / Sq Mi
$38,951
Median Household Income
$33,851
Median Earnings
$943
Median Rent
$111,200
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 - Two refreshed residential units support owner-occupancy or rental use with functional living areas and private parking.
Where is this duplex located?
The property is located at 610 Ontario Street Buffalo, NY.
What is the asking price?
The asking price for this property is $259,900.
What are key features of this property?
This property features: Two‑unit duplex with 3 bedrooms and 1 full bathroom in each unit; 2184 square feet of building area; Updated plumbing, electrical, fixtures, flooring, and other major systems
