Renovated Duplex with Full
New
For Sale
$219,888
75 Progressive Avenue, Buffalo, NY 14207
Vacant two-family residence offers separate three-bedroom floors, a fenced backyard and off-street parking.
Property Size2,110 SF
Lot Size0.09 Acres
Price / SF$104.21
Days on Market3
Property Features for 75 Progressive Avenue
General Information
Standard status
Active
Size
2,110 SF
Lot size
0.09 Acres
Property subtype
Multi Family
Units
Unit Mix
2 x 3BR/1BA
Multifamily Units
2
Additional Details
Utilities to Site
Yes
Taxes and HOA fees
Annual Taxes
$1,233
Building Details
Building Size
2,110 SF
Year Built
1915
Listing Agency:
Lombardo Homes & Estates
Listed By:
Joseph V. Lombardo · License #10311204851
(516) 200-6448
Source:
Highfallssir
Added: Sep 25
Changed: Sep 27
Last Checked: Sep 26 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 Lombardo Homes & Estates
Investment Insights
Based on property information with market context.
This renovated duplex contains two three-bedroom, one-bathroom units, with one unit on each floor. The property totals 2,110 square feet and includes a full basement for storage and mechanicals, plus attic space. Exterior materials are vinyl and aluminum, and the home has hot-air heat. Public water and sewer serve the property. A recently rebuilt driveway provides off-street parking, and the backyard is fully fenced.
Built in 1915, the residence sits in Buffalo’s Riverside area, near Riverside Park. Nearby schools include P.S. 65 Roosevelt Early Childhood Center, West Hertel Academy and Riverside Academy High School. The property is in the Buffalo City School District.
Built in 1915, the residence sits in Buffalo’s Riverside area, near Riverside Park. Nearby schools include P.S. 65 Roosevelt Early Childhood Center, West Hertel Academy and Riverside Academy High School. The property is in the Buffalo City School District.
Key Highlights
- Two‑family layout with three bedrooms and one full bath on each floor
- 2,110 square feet with a full basement and attic space
- Lot measures about 30 feet by 132 feet, or about 0.09 acre
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
$19,284
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
8.77%
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%
$385,680
$385.7K
Cap Rate 7%
$275,486
$275.5K
Cap Rate 9%
$214,267
$214.3K
Market Conditions
NOI Build-Up for 2,110 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
$36.7K $17.40/SF
− Vacancy
−$1.7K −$0.78/SF
EGI
$35.1K $16.62/SF
− OpEx
−$15.8K −$7.48/SF
NOI
$19.3K $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%
$385,680
Cap Rate 7%
$275,486
Cap Rate 9%
$214,267
Alternative Uses
Best Use
Multifamily LT 5
$299.1K
$261.7K – $348.9K
NOI $20,936 @ 7.0% cap · market cap 9.52%
Second Best
Apartment 5plus
$275.5K
$241.1K – $321.4K
NOI $19,284 @ 7.0% cap · market cap 8.77%
Theoretical Best
Office A
$507.4K
$444.0K – $592.0K
NOI $35,519 @ 7.0% cap · market cap 16.15%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
2
Residential units
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
647
Businesses Nearby
Explore this area
Business Placement
Demographics for 14207, NY
26,006
Population
11,317
Households
2.3
Avg Household Size
32
Median Age
19%
College-Educated
79%
High-School Grad
3.9 sq mi
ZIP Area
6,668
Density / Sq Mi
$38,951
Median Household Income
$33,851
Median Earnings
$943
Median Rent
$111,200
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Multifamily in Northeast region
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Frequently Asked Questions
What type of property is this?
Duplex - Vacant two-family residence offers separate three-bedroom floors, a fenced backyard and off-street parking.
Where is this duplex located?
The property is located at 75 Progressive Avenue Buffalo, NY.
What is the asking price?
The asking price for this property is $219,888.
What are key features of this property?
This property features: Two‑family layout with three bedrooms and one full bath on each floor; 2,110 square feet with a full basement and attic space; Lot measures about 30 feet by 132 feet, or about 0.09 acre
