Two-Unit Duplex with Two-Bedroom
New
For Sale
$175,000
87 Fernhill Avenue, Buffalo, NY 14215
Each residence includes a full bath, living area, dining space, and complete kitchen in a practical residential layout.
Property Size1,572 SF
Days on Market3
Property Features for 87 Fernhill Avenue
General Information
Standard status
Active
Size
1,572 SF
Property subtype
Multi Family
Units
Unit Mix
2 x 2BR/1BA
Multifamily Units
2
Additional Details
Public Transit
Yes
Taxes and HOA fees
Annual Taxes
$1,211
Building Details
Building Size
1,572 SF
Year Built
1924
Listing Agency:
Keller Williams Realty WNY
Listed By:
Md Nabi Islam · License #10401400344
(646) 410-6786
Source:
Highfallssir
Added: Sep 3
Changed: Sep 4
Last Checked: Sep 5 at 7:38AM
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 Keller Williams Realty WNY
Investment Insights
Based on property information with market context.
Built in 1924, this duplex contains two residential units with matching two-bedroom configurations. Each unit includes one full bathroom, a living room, dining area, and full kitchen, creating clearly defined spaces for daily living.
The property is located at 87 Fernhill Avenue in Buffalo, near ECMC, schools, shopping, public transportation, and everyday amenities. Its two-unit format supports separate household occupancy within one residential property and provides a straightforward layout for evaluating owner-occupancy or rental use.
The property is located at 87 Fernhill Avenue in Buffalo, near ECMC, schools, shopping, public transportation, and everyday amenities. Its two-unit format supports separate household occupancy within one residential property and provides a straightforward layout for evaluating owner-occupancy or rental use.
Key Highlights
- Two‑unit duplex at 87 Fernhill Avenue in Buffalo, NY
- Each unit has 2 bedrooms and 1 full bathroom
- Both residences include living, dining, and full kitchen areas
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
$15,598
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
8.91%
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%
$311,960
$312.0K
Cap Rate 7%
$222,829
$222.8K
Cap Rate 9%
$173,311
$173.3K
Market Conditions
NOI Build-Up for 1,572 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
$23.6K $15.00/SF
− Vacancy
−$1.3K −$0.83/SF
EGI
$22.3K $14.17/SF
− OpEx
−$6.7K −$4.25/SF
NOI
$15.6K $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%
$311,960
Cap Rate 7%
$222,829
Cap Rate 9%
$173,311
Alternative Uses
Best Use
Multifamily LT 5
$222.8K
$195.0K – $260.0K
NOI $15,598 @ 7.0% cap · market cap 8.91%
Second Best
Apartment 5plus
$205.2K
$179.6K – $239.5K
NOI $14,367 @ 7.0% cap · market cap 8.21%
Theoretical Best
Office A
$378.0K
$330.8K – $441.0K
NOI $26,462 @ 7.0% cap · market cap 15.12%
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
1,037
Businesses Nearby
Explore this area
Business Placement
Demographics for 14215, NY
42,447
Population
19,203
Households
2.2
Avg Household Size
33
Median Age
19%
College-Educated
87%
High-School Grad
4.8 sq mi
ZIP Area
8,843
Density / Sq Mi
$43,326
Median Household Income
$29,204
Median Earnings
$993
Median Rent
$102,800
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 - Each residence includes a full bath, living area, dining space, and complete kitchen in a practical residential layout.
Where is this duplex located?
The property is located at 87 Fernhill Avenue Buffalo, NY.
What is the asking price?
The asking price for this property is $175,000.
What are key features of this property?
This property features: Two‑unit duplex at 87 Fernhill Avenue in Buffalo, NY; Each unit has 2 bedrooms and 1 full bathroom; Both residences include living, dining, and full kitchen areas
