Updated Duplex with Private
For Sale
$199,900
9 Alma Avenue, Buffalo, NY 14215
Both apartments are vacant and feature renovated kitchens and bathrooms, updated finishes, and new electrical wiring.
Property Size1,630 SF
Days on Market8
Property Features for 9 Alma Avenue
General Information
Standard status
Active
Size
1,630 SF
Property subtype
Multi Family
Taxes and HOA fees
Annual Taxes
$1,230
Building Details
Building Size
1,630 SF
Year Built
1930
Listing Agency:
Towne Housing Real Estate
Listed By:
Kazi Rashid · License #10401389019
(646) 549-4280
Source:
Highfallssir
Added: Sep 28
Changed: Oct 5
Last Checked: Oct 4 at 4:02PM
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 Towne Housing Real Estate
Investment Insights
Based on property information with market context.
Built in 1930, this two-family property has two vacant apartments with renovated kitchens and tiled bathrooms. Updates include new windows and doors, electrical wiring, lighting, interior and exterior paint, a roof, and front stairs with railing. Each unit has 6.5 mm waterproof, fireproof, scratch-resistant flooring; the second-floor apartment also has a dedicated new furnace. The basement is partially finished and includes glass block windows and a sump pump. A private driveway and backyard serve the property, with street parking also available.
The property is in Buffalo, near major highways, shopping, schools, public transportation, and everyday amenities.
The property is in Buffalo, near major highways, shopping, schools, public transportation, and everyday amenities.
Key Highlights
- Two vacant apartments in a two‑family property
- Renovated kitchens and tiled bathrooms in both units
- 6.5 mm waterproof, fireproof, scratch‑resistant flooring throughout both units
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$16,174
Cap Rate
8.09%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$323,480
$323.5K
Cap Rate 7%
$231,057
$231.1K
Cap Rate 9%
$179,711
$179.7K
Market Conditions
NOI Build-Up for 1,630 SF
Gross rent
$24.5K $15.00/SF
− Vacancy
−$1.3K −$0.83/SF
EGI
$23.1K $14.17/SF
− OpEx
−$6.9K −$4.25/SF
NOI
$16.2K $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%
$323,480
Cap Rate 7%
$231,057
Cap Rate 9%
$179,711
Alternative Uses
Best Use
Multifamily LT 5
$231.1K
$202.2K – $269.6K
NOI $16,174 @ 7.0% cap · market cap 8.09%
Second Best
Apartment 5plus
$212.8K
$186.2K – $248.3K
NOI $14,897 @ 7.0% cap · market cap 7.45%
Theoretical Best
Office A
$392.0K
$343.0K – $457.3K
NOI $27,439 @ 7.0% cap · market cap 13.73%
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
592
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 - Both apartments are vacant and feature renovated kitchens and bathrooms, updated finishes, and new electrical wiring.
Where is this duplex located?
The property is located at 9 Alma 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: Two vacant apartments in a two‑family property; Renovated kitchens and tiled bathrooms in both units; 6.5 mm waterproof, fireproof, scratch‑resistant flooring throughout both units
