Two-Unit Duplex with Separate
For Sale
$265,100
72 Lisbon Ave, Buffalo, NY 14214
Residential Income, Buffalo, NY
Property Size2,329 SF
Lot Size0.11 Acres
Price / SF$113.83
Days on Market8
Property Features for 72 Lisbon Ave
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning description
Residential
Bedrooms
6
Bathrooms
2
Full bathrooms
2
Rooms
Bedroom 2, Bathroom 2, Bedroom 6, Bedroom 3, Bedroom 5, Bathroom 1, Bedroom 1, Bedroom 4
Parking features
Driveway
Interior features
Entrance Foyer
High school district
000000
Standard status
Active
APN
000000-079.000-0003-024.000
Lot size
0.11 Acres
Utilities
Water source
Public
Building Details
Year built
1920
Roof type
Asphalt
Listing Agency:
MOYER AUCTION & ESTATE CO
(716) 937-7493
Listed By:
Randy Moyer
Added: Sep 17
Changed: Sep 18
Last Checked: Sep 24 at 8:06PM
MLS# 11986508
Copyright © 2026 My State MLS. 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 two-unit duplex includes 2,329 square feet of total living area, with a 1,232-square-foot first-floor unit and a 1,097-square-foot second-floor unit. The property was built in 1920 and features vinyl siding, an asphalt roof, an entrance foyer, separate utilities, and driveway parking. It is being sold as-is.
The property occupies 0.11 acres in Buffalo, NY, with proximity to UB and Main Street. Public water service is in place. The existing layout provides two distinct residential units within a single duplex property, supporting either owner occupancy or rental use as described in the property information.
The property occupies 0.11 acres in Buffalo, NY, with proximity to UB and Main Street. Public water service is in place. The existing layout provides two distinct residential units within a single duplex property, supporting either owner occupancy or rental use as described in the property information.
Key Highlights
- 2,329 square feet of total living area
- 1,232‑square‑foot first‑floor unit
- 1,097‑square‑foot second‑floor unit
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
$23,110
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
8.72%
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%
$462,200
$462.2K
Cap Rate 7%
$330,143
$330.1K
Cap Rate 9%
$256,778
$256.8K
Market Conditions
NOI Build-Up for 2,329 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
$34.9K $15.00/SF
− Vacancy
−$1.9K −$0.83/SF
EGI
$33.0K $14.17/SF
− OpEx
−$9.9K −$4.25/SF
NOI
$23.1K $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%
$462,200
Cap Rate 7%
$330,143
Cap Rate 9%
$256,778
Alternative Uses
Best Use
Multifamily LT 5
$330.1K
$288.9K – $385.2K
NOI $23,110 @ 7.0% cap · market cap 8.72%
Second Best
Apartment 5plus
$304.1K
$266.1K – $354.8K
NOI $21,286 @ 7.0% cap · market cap 8.03%
Theoretical Best
Office A
$560.1K
$490.1K – $653.4K
NOI $39,205 @ 7.0% cap · market cap 14.79%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
840
Businesses Nearby
Explore this area
Business Placement
Demographics for 14214, NY
20,732
Population
9,280
Households
2.2
Avg Household Size
32
Median Age
46%
College-Educated
90%
High-School Grad
3.3 sq mi
ZIP Area
6,282
Density / Sq Mi
$56,573
Median Household Income
$29,928
Median Earnings
$1,072
Median Rent
$234,600
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 - Two residential units offer separate utilities, driveway parking, and public water service.
Where is this duplex located?
The property is located at 72 Lisbon Ave Buffalo, NY.
What is the asking price?
The asking price for this property is $265,100.
What are key features of this property?
This property features: 2,329 square feet of total living area; 1,232‑square‑foot first‑floor unit; 1,097‑square‑foot second‑floor unit
