Two-Unit Duplex with Off-Street
For Sale
$219,900
86 Fernwood Avenue, Buffalo, NY 14206
MULTI_FAMILY - Buffalo, NY
Property Size1,925 SF
Lot Size0.17 Acres
Price / SF$114.23
Days on Market12
Property Features for 86 Fernwood Avenue
General Information
Property type
Residential Multi Family
Property subtype
Other
Bedrooms
4
Bathrooms
2
Full bathrooms
2
Rooms
Bedroom 4, Bedroom 2, Bedroom 3, Bathroom 1, Bathroom 2, Basement, Bedroom 1
Appliances
GasWaterHeater
Subdivision
Buffalo Crk Reservation
Lot features
Rectangular, Rectangular Lot
Elementary school district
Cheektowaga-Sloan
Middle school district
Cheektowaga-Sloan
High school district
Cheektowaga-Sloan
Directions
GPS - Clinton to Fernwood.
Standard status
Active
APN
146800-123-360-0001-012-100
Size
1,925 SF
Lot size
0.17 Acres
Taxes and HOA fees
Tax Annual Amount
3555
Utilities
Heating system
Space Heater, Forced Air, Natural Gas
Water source
Public
Amenities
off-street parking
Building Details
Year built
1930
Floors in Building
1
Number of units
2
Flooring type
Carpet, Varies, Vinyl
Building materials
VinylSiding
Roof type
Asphalt
Listing Agency:
Keller Williams Realty WNY
(716) 832-3300
Listed By:
Ryan Carr · License #10401351211
(716) 200-7862
Added: Aug 3
Changed: Aug 13
Last Checked: Aug 14 at 5:06PM
MLS# B1703188
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 1,925-square-foot duplex, built in 1930, contains two residential units with a consistent layout in each: two bedrooms, one full bathroom, a large kitchen, and a spacious living room. The property includes a basement, vinyl siding, asphalt roofing, public water, and natural-gas heating. Flooring varies between carpet and vinyl. Recent improvements include a newer roof, newer windows, and one newer hot water tank.
Set on 0.1703 acres, the property provides a comparatively large lot and off-street parking. Both units are occupied under month-to-month tenancies, offering an existing rental configuration for an investor or an owner occupant. The property is identified at 86 Fernwood Avenue in Buffalo, New York.
Set on 0.1703 acres, the property provides a comparatively large lot and off-street parking. Both units are occupied under month-to-month tenancies, offering an existing rental configuration for an investor or an owner occupant. The property is identified at 86 Fernwood Avenue in Buffalo, New York.
Key Highlights
- Two‑unit duplex with 1,925 square feet of property size
- Each unit includes 2 bedrooms, 1 full bath, kitchen, and living room
- 0.1703‑acre lot with off‑street parking
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
$19,101
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
8.69%
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%
$382,020
$382.0K
Cap Rate 7%
$272,871
$272.9K
Cap Rate 9%
$212,233
$212.2K
Market Conditions
NOI Build-Up for 1,925 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
$28.9K $15.00/SF
− Vacancy
−$1.6K −$0.83/SF
EGI
$27.3K $14.17/SF
− OpEx
−$8.2K −$4.25/SF
NOI
$19.1K $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%
$382,020
Cap Rate 7%
$272,871
Cap Rate 9%
$212,233
Alternative Uses
Best Use
Multifamily LT 5
$272.9K
$238.8K – $318.4K
NOI $19,101 @ 7.0% cap · market cap 8.69%
Second Best
Apartment 5plus
$251.3K
$219.9K – $293.2K
NOI $17,593 @ 7.0% cap · market cap 8.00%
Theoretical Best
Office A
$462.9K
$405.1K – $540.1K
NOI $32,405 @ 7.0% cap · market cap 14.74%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Multi-tenant
Tenancy
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
462
Businesses Nearby
Explore this area
Business Placement
Demographics for 14206, NY
21,706
Population
10,677
Households
2
Avg Household Size
38
Median Age
18%
College-Educated
87%
High-School Grad
5.0 sq mi
ZIP Area
4,341
Density / Sq Mi
$46,842
Median Household Income
$38,379
Median Earnings
$886
Median Rent
$111,600
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 - Two occupied residences feature two-bedroom layouts, full baths, kitchens, and spacious living areas.
Where is this duplex located?
The property is located at 86 Fernwood Avenue Buffalo, NY.
What is the asking price?
The asking price for this property is $219,900.
What are key features of this property?
This property features: Two‑unit duplex with 1,925 square feet of property size; Each unit includes 2 bedrooms, 1 full bath, kitchen, and living room; 0.1703‑acre lot with off‑street parking
