Side-by-Side
For Sale
$189,900
9-11 Shirley Avenue, Buffalo, NY 14225
Residential, Buffalo, NY
Property Size1,602 SF
Lot Size0.17 Acres
Price / SF$118.54
Days on Market9
Property Features for 9-11 Shirley Avenue
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Bedrooms
4
Bathrooms
2
Full bathrooms
2
Rooms
Bathroom 1, Bedroom 4, Bedroom 3, Bedroom 1, Bedroom 2, Bathroom 2, Basement
Parking features
Garage
Interior features
CeilingFans, SlidingGlassDoors
Appliances
GasWaterHeater
Lot features
Near Public Transit, Rectangular, Rectangular Lot, Residential Lot
Elementary school
Cleveland Hill Elementary
Middle school
Cleveland Middle
High school
Cleveland Hill High
Elementary school district
Cleveland Hill
Middle school district
Cleveland Hill
High school district
Cleveland Hill
Directions
Maryvale Dr. to Community Dr. to Shirley Ave
Subdivision
Cheektowaga-143089
Standard status
Active
APN
143089-091-140-0005-024-000
Size
1,602 SF
Lot size
0.17 Acres
Taxes and HOA fees
Tax Annual Amount
5235
Utilities
Heating system
Baseboard, Natural Gas
Water source
Public
Amenities
large yard
garage
Building Details
Year built
1943
Floors in Building
1
Number of units
2
Flooring type
Hardwood, Laminate, Varies, Carpet, Vinyl
Building materials
AluminumSiding, CopperPlumbing, PexPlumbing
Roof type
Asphalt, Shingle
Architectural style
Other
Listing Agency:
MJ Peterson Real Estate Inc.
(716) 668-7000
Listed By:
Frank E Sandor · License #10401204018
(716) 863-0369
Added: Sep 23
Changed: Sep 25
Last Checked: Oct 1 at 8:06PM
MLS# B1716641
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 side-by-side duplex contains 1,602 square feet with four bedrooms, two bathrooms, and a basement. The two units have separate driveways, while one side includes a garage. Interior finishes include a combination of hardwood, laminate, carpet, and vinyl flooring, with ceiling fans and sliding glass doors. Natural gas baseboard heat, a gas water heater, public water, and an asphalt shingle roof serve the property. Built in 1943, the building has aluminum siding along with copper and PEX plumbing.
The property is located in Buffalo, NY, near access to Route 33 and I-90. A 0.17-acre lot provides a large yard, and both units are occupied by long-term tenants who would like to remain. Updates have been completed over the years, supporting continued residential use.
The property is located in Buffalo, NY, near access to Route 33 and I-90. A 0.17-acre lot provides a large yard, and both units are occupied by long-term tenants who would like to remain. Updates have been completed over the years, supporting continued residential use.
Key Highlights
- 1,602‑square‑foot side‑by‑side duplex
- Four bedrooms, two bathrooms, and a basement
- Separate driveway for each unit
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
$15,896
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
8.37%
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%
$317,920
$317.9K
Cap Rate 7%
$227,086
$227.1K
Cap Rate 9%
$176,622
$176.6K
Market Conditions
NOI Build-Up for 1,602 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
$24.0K $15.00/SF
− Vacancy
−$1.3K −$0.83/SF
EGI
$22.7K $14.17/SF
− OpEx
−$6.8K −$4.25/SF
NOI
$15.9K $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%
$317,920
Cap Rate 7%
$227,086
Cap Rate 9%
$176,622
Alternative Uses
Best Use
Multifamily LT 5
$227.1K
$198.7K – $264.9K
NOI $15,896 @ 7.0% cap · market cap 8.37%
Second Best
Apartment 5plus
$209.2K
$183.0K – $244.0K
NOI $14,641 @ 7.0% cap · market cap 7.71%
Theoretical Best
Office A
$385.2K
$337.1K – $449.5K
NOI $26,967 @ 7.0% cap · market cap 14.20%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
2
Residential units
Multi-tenant
Tenancy
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
372
Businesses Nearby
Explore this area
Business Placement
Demographics for 14225, NY
34,066
Population
16,253
Households
2.1
Avg Household Size
41
Median Age
29%
College-Educated
93%
High-School Grad
11.5 sq mi
ZIP Area
2,962
Density / Sq Mi
$65,562
Median Household Income
$44,408
Median Earnings
$937
Median Rent
$154,500
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
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Duplex - Two-unit residential property with separate driveways, one garage, and established occupancy.
Where is this duplex located?
The property is located at 9-11 Shirley Avenue Buffalo, NY.
What is the asking price?
The asking price for this property is $189,900.
What are key features of this property?
This property features: 1,602‑square‑foot side‑by‑side duplex; Four bedrooms, two bathrooms, and a basement; Separate driveway for each unit
