Well-Maintained Duplex with Bonus
For Sale
$289,900
72 Nicholson St, Buffalo, NY 14214
Two-unit property with spacious layouts, hardwood floors, included appliances, and a full basement.
Property Size2,415 SF
Price / SF$120.04
Days on Market10
Property Features for 72 Nicholson St
General Information
Standard status
Active
Size
2,415 SF
Property subtype
Multi-Family
Additional Details
Multifamily Units
2
Building Details
Year Built
1958
Listing Agency:
WNYbyOwner.com
(716) 523-8508
Listed By:
Robyn Sansone · License #10491209960
Source:
Thejoshjamesteam
Added: Aug 21
Changed: Aug 30
Last Checked: Aug 30 at 8:48PM
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 WNYbyOwner.com
Investment Insights
Based on property information with market context.
This 2,415-square-foot duplex contains two separate residential units with practical, generously sized layouts. The lower apartment includes three bedrooms and one full bath, while the upper apartment offers two bedrooms and a large bonus room. Both units feature eat-in kitchens, oversized living rooms, and hardwood flooring across most of the interior. Fresh paint provides a clean starting point for occupancy.
A full basement adds storage capacity and includes an additional toilet. Appliances are included, and the hot water tanks are less than three years old. The property sits on a quiet dead-end street near the University at Buffalo and everyday conveniences, supporting either an owner-occupant arrangement or continued rental use.
A full basement adds storage capacity and includes an additional toilet. Appliances are included, and the hot water tanks are less than three years old. The property sits on a quiet dead-end street near the University at Buffalo and everyday conveniences, supporting either an owner-occupant arrangement or continued rental use.
Key Highlights
- 2415 SF duplex with two residential units
- Lower unit includes 3 bedrooms and 1 full bath
- Upper unit offers 2 bedrooms plus a large bonus room
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
$23,963
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
8.27%
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%
$479,260
$479.3K
Cap Rate 7%
$342,329
$342.3K
Cap Rate 9%
$266,256
$266.3K
Market Conditions
NOI Build-Up for 2,415 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
$36.2K $15.00/SF
− Vacancy
−$2.0K −$0.83/SF
EGI
$34.2K $14.17/SF
− OpEx
−$10.3K −$4.25/SF
NOI
$24.0K $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%
$479,260
Cap Rate 7%
$342,329
Cap Rate 9%
$266,256
Alternative Uses
Best Use
Multifamily LT 5
$342.3K
$299.5K – $399.4K
NOI $23,963 @ 7.0% cap · market cap 8.27%
Second Best
Apartment 5plus
$315.3K
$275.9K – $367.9K
NOI $22,072 @ 7.0% cap · market cap 7.61%
Theoretical Best
Office A
$580.8K
$508.2K – $677.6K
NOI $40,653 @ 7.0% cap · market cap 14.02%
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
704
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
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 - Two-unit property with spacious layouts, hardwood floors, included appliances, and a full basement.
Where is this duplex located?
The property is located at 72 Nicholson St Buffalo, NY.
What is the asking price?
The asking price for this property is $289,900.
What are key features of this property?
This property features: 2415 SF duplex with two residential units; Lower unit includes 3 bedrooms and 1 full bath; Upper unit offers 2 bedrooms plus a large bonus room
