Refreshed Two-Unit
New
For Sale
$169,999
70 Wick Street, Buffalo, NY 14212
Updated residential income property with adaptable living space across two units.
Property Size1,704 SF
Days on Market4
Property Features for 70 Wick Street
General Information
Standard status
Active
Size
1,704 SF
Property subtype
Multi Family
Additional Details
Multifamily Units
2
Taxes and HOA fees
Annual Taxes
$957
Building Details
Building Size
1,704 SF
Year Built
1918
Listing Agency:
WNY Metro Roberts Realty
Listed By:
Alexander Torres · License #10401390812
(716) 725-1403
Source:
Highfallssir
Added: Sep 2
Changed: Sep 4
Last Checked: Sep 4 at 3:10PM
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 WNY Metro Roberts Realty
Investment Insights
Based on property information with market context.
Built in 1918, this duplex contains two residential units with a combined six bedrooms and three full bathrooms. Recent updates provide a refreshed interior, while the layout includes comfortable living areas and ample space across both residences.
Located at 70 Wick Street in Buffalo, the property also offers flexibility for use as a spacious single-family home, subject to applicable requirements. Its two-unit configuration supports residential income use while retaining an alternate occupancy arrangement.
Located at 70 Wick Street in Buffalo, the property also offers flexibility for use as a spacious single-family home, subject to applicable requirements. Its two-unit configuration supports residential income use while retaining an alternate occupancy arrangement.
Key Highlights
- Two‑unit residential property at 70 Wick Street in Buffalo
- Six bedrooms and three full bathrooms across both units
- Fresh updates throughout the property
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
$15,573
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
9.16%
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%
$311,460
$311.5K
Cap Rate 7%
$222,471
$222.5K
Cap Rate 9%
$173,033
$173.0K
Market Conditions
NOI Build-Up for 1,704 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
$29.6K $17.40/SF
− Vacancy
−$1.3K −$0.78/SF
EGI
$28.3K $16.62/SF
− OpEx
−$12.7K −$7.48/SF
NOI
$15.6K $9.14/SF
Area
Buffalo, NY
Vacancy
4.50%
Lease Rate
$17.40 /SF/Yr
Expense Ratio
45.00%
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%
$311,460
Cap Rate 7%
$222,471
Cap Rate 9%
$173,033
Alternative Uses
Best Use
Multifamily LT 5
$241.5K
$211.4K – $281.8K
NOI $16,908 @ 7.0% cap · market cap 9.95%
Second Best
Apartment 5plus
$222.5K
$194.7K – $259.6K
NOI $15,573 @ 7.0% cap · market cap 9.16%
Theoretical Best
Office A
$409.8K
$358.6K – $478.1K
NOI $28,684 @ 7.0% cap · market cap 16.87%
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
515
Businesses Nearby
Explore this area
Business Placement
Demographics for 14212, NY
13,533
Population
5,935
Households
2.3
Avg Household Size
32
Median Age
11%
College-Educated
76%
High-School Grad
2.1 sq mi
ZIP Area
6,444
Density / Sq Mi
$35,517
Median Household Income
$26,545
Median Earnings
$829
Median Rent
$89,900
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 residential income property with adaptable living space across two units.
Where is this duplex located?
The property is located at 70 Wick Street Buffalo, NY.
What is the asking price?
The asking price for this property is $169,999.
What are key features of this property?
This property features: Two‑unit residential property at 70 Wick Street in Buffalo; Six bedrooms and three full bathrooms across both units; Fresh updates throughout the property
