Duplex with Hardwood
New
For Sale
$289,900
72 Nicholson Street, Buffalo, NY 14214
MULTI_FAMILY - Other - Buffalo, NY
Property Size2,415 SF
Lot Size0.12 Acres
Price / SF$120.04
Days on Market4
Property Features for 72 Nicholson Street
General Information
Property type
Residential Multi Family
Property subtype
Other
Bedrooms
5
Bathrooms
2
Full bathrooms
2
Rooms
Bathroom 1, Bathroom 2, Bedroom 3, Bedroom 5, Bedroom 2, Basement, Bedroom 1, Bedroom 4
Interior features
NaturalWoodwork
Exterior features
FullyFenced, PrivateYard
Fencing
Fenced
Appliances
GasWaterHeater
Lot features
Cul De Sac, Rectangular, Rectangular Lot, Residential Lot
Elementary school district
Buffalo
Middle school district
Buffalo
High school district
Buffalo
Subdivision
Buffalo City-140200
Standard status
Active
APN
140200-079-370-0004-011-000
Size
2,415 SF
Lot size
0.12 Acres
Taxes and HOA fees
Tax Annual Amount
3348
Utilities
Heating system
Forced Air, Natural Gas
Water source
Public
Building Details
Year built
1958
Floors in Building
2
Number of units
2
Flooring type
Carpet, Varies, Hardwood, Vinyl
Building materials
AluminumSiding, Brick
Architectural style
Other
Listing Agency:
WNYbyOwner.com
(716) 523-8508
Listed By:
Robyn Sansone · License #10491209960
(716) 523-8508
Added: Aug 17
Last Checked: Aug 20 at 2:06AM
MLS# B1706103
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 2,415-square-foot duplex, built in 1958, offers two separate residential units with a practical mix of living and bedroom space. The lower unit includes three bedrooms and one full bathroom, while the upper unit has two bedrooms and a bonus room. Both residences feature eat-in kitchens and large living rooms, with hardwood flooring present through much of the home. Fresh interior paint and included appliances are in place.
The property sits on a 0.1205-acre lot near the University at Buffalo. Exterior features include a fully fenced yard and private outdoor space. A full basement provides storage and includes an additional toilet. The home also has forced-air natural gas heat, public water, aluminum siding, and hot water tanks less than three years old.
The property sits on a 0.1205-acre lot near the University at Buffalo. Exterior features include a fully fenced yard and private outdoor space. A full basement provides storage and includes an additional toilet. The home also has forced-air natural gas heat, public water, aluminum siding, and hot water tanks less than three years old.
Key Highlights
- 2,415 square feet with two residential units
- Lower unit offers 3 bedrooms and 1 full bathroom
- Upper unit includes 2 bedrooms and a 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
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Frequently Asked Questions
What type of property is this?
Duplex - Located near the University at Buffalo, the property includes fenced outdoor space and a full basement.
Where is this duplex located?
The property is located at 72 Nicholson Street 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: 2,415 square feet with two residential units; Lower unit offers 3 bedrooms and 1 full bathroom; Upper unit includes 2 bedrooms and a bonus room
