Duplex with
For Sale
$475,000
868 Main Street, Buffalo, NY 14202
Separate entrances serve the two-family layout, with a two-car garage and additional on-site parking.
Property Size3,007 SF
Days on Market8
Property Features for 868 Main Street
General Information
Standard status
Active
Size
3,007 SF
Property subtype
Multi Family
Site & Location
Neighborhood
Fruit Belt
Additional Details
Multifamily Units
2
Taxes and HOA fees
Annual Taxes
$4,255
Building Details
Building Size
3,007 SF
Year Built
1900
Buildings
1
Listing Agency:
Diversity Properties
Listed By:
Michelle Tarbox · License #10301223221
(716) 598-0210
Source:
Highfallssir
Added: Oct 16
Changed: Oct 21
Last Checked: Oct 21 at 2:26AM
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 Diversity Properties
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Investment Insights
Based on property information with market context.
Built in 1900, this duplex is currently zoned for two-family residential use. Its interior includes hardwood floors, large rooms, vaulted ceilings and a curved staircase. Separate entrances serve the units. A two-car block garage, additional parking spaces and a concrete parking pad are also on site. The building previously accommodated a business and an apartment; that past use does not change its current two-family zoning.
Work completed within the past three years includes rebuilding an exterior wall, replacing water lines and repairing original windows. Architectural plans for a two-family conversion are available. The property is on Main Street in Buffalo’s Medical Corridor.
Work completed within the past three years includes rebuilding an exterior wall, replacing water lines and repairing original windows. Architectural plans for a two-family conversion are available. The property is on Main Street in Buffalo’s Medical Corridor.
Key Highlights
- Currently zoned for two‑family residential use
- Two‑car block garage, additional parking spaces and a front concrete pad
- Hardwood floors, vaulted ceilings, large rooms and a curved staircase
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$29,837
Cap Rate
6.28%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$596,740
$596.7K
Cap Rate 7%
$426,243
$426.2K
Cap Rate 9%
$331,522
$331.5K
Market Conditions
NOI Build-Up for 3,007 SF
Gross rent
$45.1K $15.00/SF
− Vacancy
−$2.5K −$0.83/SF
EGI
$42.6K $14.17/SF
− OpEx
−$12.8K −$4.25/SF
NOI
$29.8K $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 Rate 5%
$596,740
Cap Rate 7%
$426,243
Cap Rate 9%
$331,522
Alternative Uses
Best Use
Multifamily LT 5
$426.2K
$373.0K – $497.3K
NOI $29,837 @ 7.0% cap · market cap 6.28%
Second Best
Apartment 5plus
$392.6K
$343.5K – $458.0K
NOI $27,482 @ 7.0% cap · market cap 5.79%
Theoretical Best
Office A
$723.1K
$632.7K – $843.7K
NOI $50,619 @ 7.0% cap · market cap 10.66%
Zoning and permitted uses should be independently verified with authorities.
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Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
5,188
Businesses Nearby
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Business Placement
Demographics for 14202, NY
3,850
Population
2,452
Households
1.6
Avg Household Size
38
Median Age
45%
College-Educated
92%
High-School Grad
0.9 sq mi
ZIP Area
4,278
Density / Sq Mi
$47,990
Median Household Income
$36,936
Median Earnings
$709
Median Rent
$495,800
Median Home Value
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Market
Vacancy Rate% for Multifamily in Northeast region
Frequently Asked Questions
What type of property is this?
Duplex - Separate entrances serve the two-family layout, with a two-car garage and additional on-site parking.
Where is this duplex located?
The property is located at 868 Main Street Buffalo, NY.
What is the asking price?
The asking price for this property is $475,000.
What are key features of this property?
This property features: Currently zoned for two‑family residential use; Two‑car block garage, additional parking spaces and a front concrete pad; Hardwood floors, vaulted ceilings, large rooms and a curved staircase
