Two-Family Home with Office
615 Elmwood Avenue Buffalo, NY 14222
For Sale
$735,000
MULTI_FAMILY - Other - Buffalo, NY
Property Size4,662 SF
Price / SF$157.66
Days on Market108
Property Features for 615 Elmwood Avenue
General Information
Property type
Residential Multi Family
Property subtype
Other
Bedrooms
2
Bathrooms
4
Rooms
Bathroom 2, Bedroom 2, Bathroom 1, Bathroom 3, Basement, Bathroom 4, Bedroom 1
Parking features
Open, Garage
Patio and Porch features
Porch
Interior features
CeilingFans, SlidingGlassDoors, NaturalWoodwork
Exterior features
FullyFenced
Fencing
Fenced
Fireplace
1
Appliances
GasWaterHeater
Standard status
Active
APN
140200-100-380-0002-037-000
Size
4,662 SF
Taxes and HOA fees
Tax Annual Amount
7451
Utilities
Heating system
Natural Gas, Forced Air, Electric (Heating)
Water source
Public
Building Details
Year built
1915
Floors in Building
3
Number of units
2
Flooring type
Tile, Hardwood, Varies
Building materials
VinylSiding, CopperPlumbing
Roof type
Asphalt
Architectural style
Other
Listing Agency:
MJ Peterson Real Estate Inc.
(716) 819-4200
Listed By:
Maria C Bufalino · License #40BU0853538
(716) 308-6561
Added: Apr 13
Changed: Jul 28
Last Checked: Jul 29 at 3:06PM
MLS# B1670551
Copyright © 2026 New York State Alliance of MLSs, LLC. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This two-family home includes a first-floor space currently used as an office, offering a separate setup within the property. The upper level is a two-story 3-bedroom, 2-bath apartment. Interior finishes include cherry wood floors, and the kitchen features stainless-steel appliances, granite counters, and ample cabinetry. Living areas include a gas fireplace, a formal dining room, and a large main bedroom with a walk-in closet.
Outside, the property provides off-street parking with a two-car attached garage. There is also a patio with a private fenced-in yard and an open porch tied to the upper apartment.
Located at 615 Elmwood Avenue in Buffalo, NY 14222, this is a mixed-use-ready setup combining office space with residential living under one roof.
Outside, the property provides off-street parking with a two-car attached garage. There is also a patio with a private fenced-in yard and an open porch tied to the upper apartment.
Located at 615 Elmwood Avenue in Buffalo, NY 14222, this is a mixed-use-ready setup combining office space with residential living under one roof.
Key Highlights
- Two‑family home with first floor currently used as an office and an upper 3‑bedroom, 2‑bath apartment
- Off‑street parking with a 2‑car attached garage, plus a patio and private fenced‑in yard
- Year built 1915 with vinyl siding and asphalt roof
Financial Insights For Office B
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $95.1k | $20.40 |
| − Vacancy | −$17.6k | −$3.77 |
| EGI | $77.5k | $16.63 |
| − OpEx | −$19.4k | −$4.16 |
| NOI | $58.1k | $12.47 |
4,662 SF · lease $20.40/SF/yr · vacancy 18.50% · expense 25.00%
Alternative Uses
Best Use
Office B
$830.5K
$726.7K – $968.9K
NOI $58,133 @ 7.0% cap · market cap 7.91%
Second Best
Multifamily LT 5
$660.8K
$578.2K – $771.0K
NOI $46,259 @ 7.0% cap · market cap 6.29%
Theoretical Best
Office A
$1.12M
$981.0K – $1.31M
NOI $78,478 @ 7.0% cap · market cap 10.68%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Location Intelligence
Current Use
Frequently Asked Questions
What type of property is this?
Duplex - Two-family property with a first-floor office and a two-story 3-bedroom, 2-bath apartment, plus garage and fenced yard patio.
Where is this duplex located?
The property is located at 615 Elmwood Avenue Buffalo, NY.
What is the asking price?
The asking price for this property is $735,000.
What are key features of this property?
This property features: Two‑family home with first floor currently used as an office and an upper 3‑bedroom, 2‑bath apartment; Off‑street parking with a 2‑car attached garage, plus a patio and private fenced‑in yard; Year built 1915 with vinyl siding and asphalt roof
