Duplex with Private
For Sale
$339,900
615 Starin Avenue, Buffalo, NY 14216
Residential, Buffalo, NY
Property Size1,792 SF
Lot Size0.18 Acres
Price / SF$189.68
Days on Market45
Property Features for 615 Starin Avenue
General Information
Property type
Residential Multi Family
Property subtype
Other
Bedrooms
4
Bathrooms
2
Full bathrooms
2
Rooms
Bedroom 2, Bathroom 1, Bedroom 3, Basement, Bedroom 4, Bathroom 2, Bedroom 1
Parking features
Open
Exterior features
FullyFenced, PrivateYard
Fencing
Fenced
Appliances
GasWaterHeater
Lot features
Rectangular, Rectangular Lot, Residential Lot
Elementary school district
Buffalo
Middle school district
Buffalo
High school district
Buffalo
Subdivision
Buffalo City-140200
Standard status
Active
APN
140200-078-440-0001-024-121
Size
1,792 SF
Lot size
0.18 Acres
Taxes and HOA fees
Tax Annual Amount
2993
Utilities
Heating system
Forced Air, Natural Gas
Water source
Public
Amenities
covered patio
fenced yard
private basements
Building Details
Year built
1950
Floors in Building
2
Number of units
2
Flooring type
Hardwood, Varies
Architectural style
Other
Listing Agency:
WNYbyOwner.com
Listed By:
Robyn Sansone · License #10491209960
(716) 523-8508
Added: Aug 18
Changed: Oct 1
Last Checked: Oct 1 at 9:06PM
MLS# B1708007
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 1,792-square-foot duplex, built in 1950, contains two townhouse-style residences. Each has two second-floor bedrooms and a full bath, with a living room and kitchen/dining area on the main floor. Hardwood flooring is among the interior finishes. The units have individual basement areas, entrances, and utility service. Both received new furnaces in December 2025, each backed by a 20-year warranty.
The property occupies 0.1825 acres and includes a 2.5-car garage, a covered patio at the rear, and a fenced yard. One residence is vacant and available for occupancy; the other is leased through August 2026. Hertel Avenue, Kenmore Avenue, and Niagara Falls Boulevard are identified nearby, along with Delaware Park, the Buffalo Zoo, and the AKG Art Museum.
The property occupies 0.1825 acres and includes a 2.5-car garage, a covered patio at the rear, and a fenced yard. One residence is vacant and available for occupancy; the other is leased through August 2026. Hertel Avenue, Kenmore Avenue, and Niagara Falls Boulevard are identified nearby, along with Delaware Park, the Buffalo Zoo, and the AKG Art Museum.
Key Highlights
- Two‑unit duplex with 1,792 square feet of building area
- Each residence has two bedrooms, one full bath, and a separate basement
- Individual entrances and utility service for both units
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
$17,781
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
5.23%
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%
$355,620
$355.6K
Cap Rate 7%
$254,014
$254.0K
Cap Rate 9%
$197,567
$197.6K
Market Conditions
NOI Build-Up for 1,792 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
$26.9K $15.00/SF
− Vacancy
−$1.5K −$0.83/SF
EGI
$25.4K $14.17/SF
− OpEx
−$7.6K −$4.25/SF
NOI
$17.8K $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%
$355,620
Cap Rate 7%
$254,014
Cap Rate 9%
$197,567
Alternative Uses
Best Use
Multifamily LT 5
$254.0K
$222.3K – $296.4K
NOI $17,781 @ 7.0% cap · market cap 5.23%
Second Best
Apartment 5plus
$234.0K
$204.7K – $273.0K
NOI $16,378 @ 7.0% cap · market cap 4.82%
Theoretical Best
Office A
$430.9K
$377.1K – $502.8K
NOI $30,166 @ 7.0% cap · market cap 8.87%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
397
Businesses Nearby
Explore this area
Business Placement
Demographics for 14216, NY
22,979
Population
12,773
Households
1.8
Avg Household Size
37
Median Age
54%
College-Educated
94%
High-School Grad
2.8 sq mi
ZIP Area
8,207
Density / Sq Mi
$70,260
Median Household Income
$47,823
Median Earnings
$1,152
Median Rent
$260,700
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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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 utility service and entrances serve each residence’s basement.
Where is this duplex located?
The property is located at 615 Starin Avenue Buffalo, NY.
What is the asking price?
The asking price for this property is $339,900.
What are key features of this property?
This property features: Two‑unit duplex with 1,792 square feet of building area; Each residence has two bedrooms, one full bath, and a separate basement; Individual entrances and utility service for both units
