Renovated Duplex with Finished
New
For Sale
$199,900
898 Northland Avenue, Buffalo, NY 14215
Residential, Buffalo, NY
Property Size1,977 SF
Lot Size0.11 Acres
Price / SF$101.11
Days on Market2
Property Features for 898 Northland Avenue
General Information
Property type
Residential Multi Family
Property subtype
Other
Bedrooms
5
Bathrooms
2
Full bathrooms
2
Rooms
Bedroom 3, Bedroom 4, Bedroom 1, Bathroom 1, Bathroom 2, Bedroom 5, Basement, Bedroom 2
Appliances
GasWaterHeater
Lot features
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
140200-101-220-0003-003-000
Size
1,977 SF
Lot size
0.11 Acres
Taxes and HOA fees
Tax Annual Amount
1213
Utilities
Heating system
Forced Air, Natural Gas
Water source
Public
Amenities
full finished basement
full attic
long driveway
large backyard
Building Details
Year built
1920
Floors in Building
2
Number of units
2
Flooring type
Vinyl, Varies
Building materials
AluminumSiding, VinylSiding
Listing Agency:
Keller Williams Realty WNY
(716) 832-3300
Listed By:
MD Zahid Al Mamun · License #10401401589
(347) 357-4253
Added: Sep 14
Last Checked: Sep 15 at 7:06AM
MLS# B1714389
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.
Renovated duplex at 898 Northland Avenue in Buffalo, offering 1,977 square feet with five bedrooms and two bathrooms. The interiors feature fresh paint, new vinyl flooring, an updated kitchen, and refreshed bathrooms. A bonus four-room area with its own living space adds flexibility for additional use, subject to the buyer’s plans and applicable requirements.
The property also includes a finished basement, full attic, long driveway, and large backyard. Forced-air natural gas heat, a gas water heater, public water, and aluminum and vinyl siding are among the existing property features. Built in 1920, the home sits in Buffalo’s 14215 ZIP code near local supermarkets and community centers.
The property also includes a finished basement, full attic, long driveway, and large backyard. Forced-air natural gas heat, a gas water heater, public water, and aluminum and vinyl siding are among the existing property features. Built in 1920, the home sits in Buffalo’s 14215 ZIP code near local supermarkets and community centers.
Key Highlights
- 1,977‑square‑foot duplex with 5 bedrooms and 2 bathrooms
- Bonus 4‑room area with a living space
- Finished basement and full attic
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
$18,068
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
9.04%
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%
$361,360
$361.4K
Cap Rate 7%
$258,114
$258.1K
Cap Rate 9%
$200,756
$200.8K
Market Conditions
NOI Build-Up for 1,977 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
$34.4K $17.40/SF
− Vacancy
−$1.5K −$0.78/SF
EGI
$32.9K $16.62/SF
− OpEx
−$14.8K −$7.48/SF
NOI
$18.1K $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%
$361,360
Cap Rate 7%
$258,114
Cap Rate 9%
$200,756
Alternative Uses
Best Use
Multifamily LT 5
$280.2K
$245.2K – $327.0K
NOI $19,617 @ 7.0% cap · market cap 9.81%
Second Best
Apartment 5plus
$258.1K
$225.9K – $301.1K
NOI $18,068 @ 7.0% cap · market cap 9.04%
Theoretical Best
Office A
$475.4K
$416.0K – $554.7K
NOI $33,280 @ 7.0% cap · market cap 16.65%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Location Intelligence
Trade Area within ½ mile
977
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
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in Northeast region
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Frequently Asked Questions
What type of property is this?
Duplex - Updated multi-family property with flexible bonus rooms, private outdoor space, and off-street parking.
Where is this duplex located?
The property is located at 898 Northland Avenue Buffalo, NY.
What is the asking price?
The asking price for this property is $199,900.
What are key features of this property?
This property features: 1,977‑square‑foot duplex with 5 bedrooms and 2 bathrooms; Bonus 4‑room area with a living space; Finished basement and full attic
