Updated Duplex with Two-Car
New
For Sale
$429,000
65 N Park Avenue, Buffalo, NY 14216
Residential, Buffalo, NY
Property Size2,720 SF
Lot Size0.13 Acres
Price / SF$157.72
Days on Market6
Property Features for 65 N Park Avenue
General Information
Property type
Residential Multi Family
Property subtype
Other
Bedrooms
6
Bathrooms
2
Full bathrooms
2
Rooms
Basement, Bedroom 2, Bathroom 1, Bedroom 4, Bathroom 2, Bedroom 6, Bedroom 1, Bedroom 3, Bedroom 5
Parking features
Garage
Fireplace
1
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
140200-078-730-0005-051-000
Size
2,720 SF
Lot size
0.13 Acres
Taxes and HOA fees
Tax Annual Amount
4041
Utilities
Heating system
Natural Gas, Steam, Other (Heating)
Water source
Public
Amenities
backyard deck
balcony
full basement
full attic
garage
Building Details
Year built
1922
Floors in Building
2
Number of units
2
Flooring type
Hardwood, Vinyl, Tile, Varies
Building materials
Frame, VinylSiding
Roof type
Asphalt
Architectural style
Other
Listing Agency:
Gurney Becker & Bourne
(716) 849-1234
Listed By:
Gary Greco Jr · License #10401251303
(716) 208-5340
Added: Sep 8
Changed: Sep 12
Last Checked: Sep 13 at 12:06AM
MLS# B1713212
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 1922 duplex contains 2,720 square feet with a three-bedroom, one-bath layout on each level. Both units include refreshed kitchens with stainless steel appliances, updated bathrooms, hardwood flooring, formal dining rooms, and spacious living areas with faux fireplaces. The first floor adds a naturally bright sitting room and deck access from a bedroom extension, while the upper unit includes a neighborhood-facing balcony and added closet space.
The property includes a full basement, full attic, driveway, and rebuilt two-car garage. Improvements include a new roof, furnace installed in 2018, windows, siding, garage floor and doors completed in 2019, a new driveway from 2020, refinished hardwood floors, and a hot water tank installed in 2025. Public water serves the property, with natural-gas steam heating and an asphalt roof.
Located at 65 N Park Avenue in Buffalo, the duplex sits approximately half a block from Hertel Avenue and near coffee shops, a movie theater, bars, restaurants, and local shopping.
The property includes a full basement, full attic, driveway, and rebuilt two-car garage. Improvements include a new roof, furnace installed in 2018, windows, siding, garage floor and doors completed in 2019, a new driveway from 2020, refinished hardwood floors, and a hot water tank installed in 2025. Public water serves the property, with natural-gas steam heating and an asphalt roof.
Located at 65 N Park Avenue in Buffalo, the duplex sits approximately half a block from Hertel Avenue and near coffee shops, a movie theater, bars, restaurants, and local shopping.
Key Highlights
- Duplex with 2,720 square feet and three bedrooms plus one bathroom in each unit
- Full basement, full attic, driveway, deck, balcony, and rebuilt two‑car garage
- Kitchen and bathroom updates in both units, including stainless steel appliances
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
$26,989
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
6.29%
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%
$539,780
$539.8K
Cap Rate 7%
$385,557
$385.6K
Cap Rate 9%
$299,878
$299.9K
Market Conditions
NOI Build-Up for 2,720 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
$40.8K $15.00/SF
− Vacancy
−$2.2K −$0.83/SF
EGI
$38.6K $14.17/SF
− OpEx
−$11.6K −$4.25/SF
NOI
$27.0K $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%
$539,780
Cap Rate 7%
$385,557
Cap Rate 9%
$299,878
Alternative Uses
Best Use
Multifamily LT 5
$385.6K
$337.4K – $449.8K
NOI $26,989 @ 7.0% cap · market cap 6.29%
Second Best
Apartment 5plus
$355.1K
$310.7K – $414.3K
NOI $24,859 @ 7.0% cap · market cap 5.79%
Theoretical Best
Office A
$654.1K
$572.3K – $763.1K
NOI $45,787 @ 7.0% cap · market cap 10.67%
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
780
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 - Each unit offers three bedrooms, one bathroom, and renovated kitchen and bath finishes.
Where is this duplex located?
The property is located at 65 N Park Avenue Buffalo, NY.
What is the asking price?
The asking price for this property is $429,000.
What are key features of this property?
This property features: Duplex with 2,720 square feet and three bedrooms plus one bathroom in each unit; Full basement, full attic, driveway, deck, balcony, and rebuilt two‑car garage; Kitchen and bathroom updates in both units, including stainless steel appliances
