Historic Duplex with Original
For Sale
$414,700
707 Columbus Parkway, Buffalo, NY 14213
Two units offer updated kitchens, separate laundry, included appliances, and access to Buffalo’s Columbus Park District.
Property Size3,088 SF
Days on Market12
Property Features for 707 Columbus Parkway
General Information
Standard status
Active
Size
3,088 SF
Property subtype
Multi Family
Additional Details
Highway Access
Yes
Multifamily Units
2
Taxes and HOA fees
Annual Taxes
$3,409
Building Details
Building Size
3,088 SF
Year Built
1897
Buildings
1
Listing Agency:
Howard Hanna WNY Inc.
Listed By:
Susan E Manzella · License #30MA1105517
(716) 946-7086
Source:
Highfallssir
Added: Sep 15
Changed: Sep 25
Last Checked: Sep 24 at 6:47PM
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 Howard Hanna WNY Inc.
Investment Insights
Based on property information with market context.
This 3/3 duplex was built in 1897 and retains substantial period character, including coffered ceilings, pocket doors, fireplaces, mantels, moldings, hardwood flooring, and detailed interior woodwork. The owner’s unit includes a living room with built-in bookshelves, wet bar, wine cooler, mini fridge, and library ladder, along with a spacious dining room, updated kitchen, granite countertops, stainless steel appliances, and an updated bathroom. The upper porch has Trex flooring and a Kohler awning.
The lower residence follows a similar layout and includes updated flooring, original-style wood details, and improvements to the kitchen and bathroom. Both units have kitchen appliances, window A/C units, and separate washers and dryers. The property is near D'Youville University, multiple parks, restaurants, Kavinoky Theatre, Dobson Field sports complex, the Armory, rowing and yacht club facilities, the waterfront, Ralph Wilson Conservancy Park, downtown, and thruway access.
The lower residence follows a similar layout and includes updated flooring, original-style wood details, and improvements to the kitchen and bathroom. Both units have kitchen appliances, window A/C units, and separate washers and dryers. The property is near D'Youville University, multiple parks, restaurants, Kavinoky Theatre, Dobson Field sports complex, the Armory, rowing and yacht club facilities, the waterfront, Ralph Wilson Conservancy Park, downtown, and thruway access.
Key Highlights
- Duplex with 3/3 configuration
- Built in 1897 with coffered ceilings, pocket doors, mantels, moldings, and hardwood flooring
- Owner’s unit includes wet bar, wine cooler, mini fridge, built‑in bookshelves, and library ladder
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
$30,641
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
7.39%
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%
$612,820
$612.8K
Cap Rate 7%
$437,729
$437.7K
Cap Rate 9%
$340,456
$340.5K
Market Conditions
NOI Build-Up for 3,088 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
$46.3K $15.00/SF
− Vacancy
−$2.5K −$0.83/SF
EGI
$43.8K $14.17/SF
− OpEx
−$13.1K −$4.25/SF
NOI
$30.6K $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%
$612,820
Cap Rate 7%
$437,729
Cap Rate 9%
$340,456
Alternative Uses
Best Use
Multifamily LT 5
$437.7K
$383.0K – $510.7K
NOI $30,641 @ 7.0% cap · market cap 7.39%
Second Best
Apartment 5plus
$403.2K
$352.8K – $470.4K
NOI $28,222 @ 7.0% cap · market cap 6.81%
Theoretical Best
Office A
$742.6K
$649.8K – $866.4K
NOI $51,982 @ 7.0% cap · market cap 12.53%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
2
Residential units
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
855
Businesses Nearby
Explore this area
Business Placement
Demographics for 14213, NY
25,834
Population
11,397
Households
2.3
Avg Household Size
30
Median Age
36%
College-Educated
81%
High-School Grad
1.9 sq mi
ZIP Area
13,597
Density / Sq Mi
$52,597
Median Household Income
$36,084
Median Earnings
$1,059
Median Rent
$192,300
Median Home Value
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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 - Two units offer updated kitchens, separate laundry, included appliances, and access to Buffalo’s Columbus Park District.
Where is this duplex located?
The property is located at 707 Columbus Parkway Buffalo, NY.
What is the asking price?
The asking price for this property is $414,700.
What are key features of this property?
This property features: Duplex with 3/3 configuration; Built in 1897 with coffered ceilings, pocket doors, mantels, moldings, and hardwood flooring; Owner’s unit includes wet bar, wine cooler, mini fridge, built‑in bookshelves, and library ladder
