Renovated Duplex with Fenced
For Sale
$399,900
69 College Street, Buffalo, NY 14201
Updated duplex with original hardwood floors, flexible living space, and substantial storage across the basement and attic.
Property Size2,118 SF
Days on Market18
Property Features for 69 College Street
General Information
Standard status
Active
Size
2,118 SF
Property subtype
Multi Family Home
Zoning
Residential 2 Unit
Taxes and HOA fees
Annual Taxes
$4,648
Amenities
fenced yard
basement
attic
Building Details
Building Size
2,118 SF
Year Built
1920
Stories
2
Units
2
Listing Agency:
Gurney Becker & Bourne
(716) 465-4929
Listed By:
John M Heffron · License #40HE0999928
(716) 465-4929
Source:
Wcirealty
Added: Aug 3
Changed: Aug 15
Last Checked: Aug 19 at 3:04PM
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 Gurney Becker & Bourne
Investment Insights
Based on property information with market context.
Built in 1920, this renovated duplex is currently configured for single-family use and offers a spacious layout with flexible occupancy potential. Interior improvements include a remodeled kitchen, two updated bathrooms, original hardwood flooring, fresh paint, and a large upstairs family room. The property retains historic character while incorporating updated electrical service, new furnaces, central air, new hot water tanks, and rebuilt chimneys.
A full basement and attic provide extensive storage, while the fully fenced yard adds private outdoor space. The property is located near Elmwood Village Charter School and Days Park in Buffalo’s Allentown area. Residential 2 Unit zoning supports the property’s duplex classification.
A full basement and attic provide extensive storage, while the fully fenced yard adds private outdoor space. The property is located near Elmwood Village Charter School and Days Park in Buffalo’s Allentown area. Residential 2 Unit zoning supports the property’s duplex classification.
Key Highlights
- Duplex currently configured for single‑family use
- Built in 1920 with original hardwood floors
- Two updated bathrooms and renovated kitchen
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
$21,016
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
5.26%
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%
$420,320
$420.3K
Cap Rate 7%
$300,229
$300.2K
Cap Rate 9%
$233,511
$233.5K
Market Conditions
NOI Build-Up for 2,118 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
$31.8K $15.00/SF
− Vacancy
−$1.7K −$0.83/SF
EGI
$30.0K $14.17/SF
− OpEx
−$9.0K −$4.25/SF
NOI
$21.0K $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%
$420,320
Cap Rate 7%
$300,229
Cap Rate 9%
$233,511
Alternative Uses
Best Use
Multifamily LT 5
$300.2K
$262.7K – $350.3K
NOI $21,016 @ 7.0% cap · market cap 5.26%
Second Best
Apartment 5plus
$276.5K
$242.0K – $322.6K
NOI $19,357 @ 7.0% cap · market cap 4.84%
Theoretical Best
Office A
$509.3K
$445.7K – $594.2K
NOI $35,654 @ 7.0% cap · market cap 8.92%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
4,473
Businesses Nearby
Explore this area
Business Placement
Demographics for 14201, NY
12,364
Population
7,172
Households
1.7
Avg Household Size
33
Median Age
39%
College-Educated
84%
High-School Grad
1.1 sq mi
ZIP Area
11,240
Density / Sq Mi
$34,204
Median Household Income
$34,081
Median Earnings
$953
Median Rent
$327,900
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 - Updated duplex with original hardwood floors, flexible living space, and substantial storage across the basement and attic.
Where is this duplex located?
The property is located at 69 College Street Buffalo, NY.
What is the asking price?
The asking price for this property is $399,900.
What are key features of this property?
This property features: Duplex currently configured for single‑family use; Built in 1920 with original hardwood floors; Two updated bathrooms and renovated kitchen
