Renovated Duplex With Off-Street
New
For Sale
$199,900
65 Grote Street, Buffalo, NY 14207
Two-unit home with separate entrances, updated interiors, fenced outdoor space, and dedicated laundry for each residence.
Property Size1,712 SF
Days on Market4
Property Features for 65 Grote Street
General Information
Standard status
Active
Size
1,712 SF
Property subtype
Multi Family
Additional Details
Multifamily Units
2
Taxes and HOA fees
Annual Taxes
$1,869
Amenities
fully fenced backyard
automatic security lighting
laundry hookups
full attic
Building Details
Building Size
1,712 SF
Year Built
1900
Year Renovated
2024
Buildings
1
Listing Agency:
HUNT Real Estate ERA
Listed By:
Brooke Powell · License #10401366533
(716) 799-3347
Source:
Highfallssir
Added: Sep 4
Changed: Sep 6
Last Checked: Sep 7 at 7:30AM
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 HUNT Real Estate ERA
Investment Insights
Based on property information with market context.
Built in 1900, this duplex has undergone extensive interior and exterior improvements since 2024. Updates include a tear-off roof, new HVAC upstairs, three mini-splits, new doors, vinyl flooring, recessed lighting, updated electrical components, fresh paint, and additional plumbing and cosmetic work. The upper residence features an opened floorplan, remodeled kitchen with stainless steel appliances, refreshed bathroom, and a fully drywalled ceiling. The lower residence includes updated cabinetry and a custom wood-beam partition.
Each unit has its own entrance and laundry setup in the basement, including separate hookups and machines. Exterior features include a stained porch and steps, painted siding, a fully fenced backyard with landscaping, automatic security lighting, and off-street parking. A full attic provides additional storage space.
Each unit has its own entrance and laundry setup in the basement, including separate hookups and machines. Exterior features include a stained porch and steps, painted siding, a fully fenced backyard with landscaping, automatic security lighting, and off-street parking. A full attic provides additional storage space.
Key Highlights
- Extensive interior and exterior renovations completed since 2024
- Two‑unit layout with separate entrances and dedicated basement laundry setups
- Upper unit includes an opened floorplan, updated kitchen, and three mini‑splits
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
$16,987
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
8.50%
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%
$339,740
$339.7K
Cap Rate 7%
$242,671
$242.7K
Cap Rate 9%
$188,744
$188.7K
Market Conditions
NOI Build-Up for 1,712 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
$25.7K $15.00/SF
− Vacancy
−$1.4K −$0.83/SF
EGI
$24.3K $14.17/SF
− OpEx
−$7.3K −$4.25/SF
NOI
$17.0K $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%
$339,740
Cap Rate 7%
$242,671
Cap Rate 9%
$188,744
Alternative Uses
Best Use
Multifamily LT 5
$242.7K
$212.3K – $283.1K
NOI $16,987 @ 7.0% cap · market cap 8.50%
Second Best
Apartment 5plus
$223.5K
$195.6K – $260.8K
NOI $15,647 @ 7.0% cap · market cap 7.83%
Theoretical Best
Office A
$411.7K
$360.2K – $480.3K
NOI $28,819 @ 7.0% cap · market cap 14.42%
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
831
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-unit home with separate entrances, updated interiors, fenced outdoor space, and dedicated laundry for each residence.
Where is this duplex located?
The property is located at 65 Grote Street Buffalo, NY.
What is the asking price?
The asking price for this property is $199,900.
What are key features of this property?
This property features: Extensive interior and exterior renovations completed since 2024; Two‑unit layout with separate entrances and dedicated basement laundry setups; Upper unit includes an opened floorplan, updated kitchen, and three mini‑splits
