Renovated Duplex with Fenced
For Sale
$399,900
69 College Street, Buffalo, NY 14201
MULTI_FAMILY - Other - Buffalo, NY
Property Size2,118 SF
Lot Size0.06 Acres
Price / SF$188.81
Days on Market12
Property Features for 69 College Street
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning description
Residential 2 Unit
Bedrooms
4
Bathrooms
2
Full bathrooms
2
Rooms
Bedroom 2, Bedroom 1, Bathroom 1, Bedroom 4, Basement, Bedroom 3, Bathroom 2
Patio and Porch features
Deck
Interior features
CeilingFans, NaturalWoodwork
Exterior features
Balcony, Deck, FullyFenced
Fencing
Fenced
Fireplace
1
Appliances
GasWaterHeater
Lot features
Near Public Transit, Rectangular, Rectangular Lot, Residential Lot
Elementary school district
Buffalo
Middle school district
Buffalo
High school district
Buffalo
Directions
Viriginia to College
Subdivision
Buffalo City-140200
Standard status
Active
APN
140200-100-770-0009-013-000
Size
2,118 SF
Lot size
0.06 Acres
Taxes and HOA fees
Tax Annual Amount
4648
Utilities
Heating system
Natural Gas, Forced Air
Cooling system
Central Air
Water source
Public
Building Details
Year built
1920
Floors in Building
2
Number of units
2
Flooring type
Vinyl, Carpet, Hardwood, Varies
Building materials
Frame, VinylSiding, CopperPlumbing
Roof type
Asphalt
Architectural style
Other
Listing Agency:
Gurney Becker & Bourne
(716) 849-1234
Listed By:
John M Heffron · License #40HE0999928
(716) 465-4929
Added: Aug 3
Changed: Aug 12
Last Checked: Aug 14 at 4:06PM
MLS# B1703800
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 1920 duplex in Buffalo combines preserved architectural details with substantial interior and mechanical improvements. The 2,118-square-foot property includes four bedrooms, two bathrooms, a large upstairs family room, renovated kitchen, original hardwood flooring, and freshly painted interiors. Natural woodwork, a fireplace, balcony, and deck add character, while vinyl, carpet, and hardwood flooring provide varied finishes throughout.
Major updates include new furnaces, central air, hot water tanks, electrical service, and rebuilt chimneys. The home also offers a full basement, attic storage, gas water heating, public water, and a fully fenced yard. Located at 69 College Street, the property is near Elmwood Village Charter School–Days Park and includes a 0.0643-acre lot.
Major updates include new furnaces, central air, hot water tanks, electrical service, and rebuilt chimneys. The home also offers a full basement, attic storage, gas water heating, public water, and a fully fenced yard. Located at 69 College Street, the property is near Elmwood Village Charter School–Days Park and includes a 0.0643-acre lot.
Key Highlights
- 2,118‑square‑foot duplex built in 1920
- Four bedrooms and two bathrooms with a large upstairs family room
- Renovated kitchen, original hardwood floors, natural woodwork, and fireplace
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
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Duplex - Updated two-story residence with original woodwork, modern systems, outdoor space, and flexible owner-occupant use.
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: 2,118‑square‑foot duplex built in 1920; Four bedrooms and two bathrooms with a large upstairs family room; Renovated kitchen, original hardwood floors, natural woodwork, and fireplace
