Three-Bedroom
New
For Sale
$279,900
933 Starin Ave, Buffalo, NY 14223
Two residential units feature separate utilities, hardwood floors, updated finishes, and access to a patio and spacious yard.
Property Size2,254 SF
Price / SF$124.18
Days on Market3
Property Features for 933 Starin Ave
General Information
Standard status
Active
Size
2,254 SF
Property subtype
Multi-Family
Units
Unit Mix
2 x 3BR
Multifamily Units
2
Additional Details
Utilities to Site
Yes
Amenities
patio
Building Details
Year Built
1932
Buildings
1
Listing Agency:
Buffalo Home Sellers LLC
Listed By:
Matthew J Quagliano · License #40QU0743308
(716) 471-9266
Source:
Skinnercnyrealty
Added: Sep 20
Last Checked: Sep 20 at 2:36PM
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 Buffalo Home Sellers LLC
Investment Insights
Based on property information with market context.
This 1932 duplex contains 2,254 square feet and offers two three-bedroom units. Each residence includes a living room, formal dining room, kitchen, bathroom, and hardwood flooring. Mostly updated windows, kitchen and bathroom improvements, and refreshed interior and exterior paint add to the current condition. Separate modern utility systems serve the units.
The property occupies a wide, tree-lined yard with a patio and abundant on-site parking. Its traditional layouts and distinct unit configuration provide a straightforward residential income property format.
The property occupies a wide, tree-lined yard with a patio and abundant on-site parking. Its traditional layouts and distinct unit configuration provide a straightforward residential income property format.
Key Highlights
- Two‑unit duplex with 3 bedrooms in each unit
- 2,254 square feet of total building area
- Separate modern utilities 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
$22,365
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
7.99%
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%
$447,300
$447.3K
Cap Rate 7%
$319,500
$319.5K
Cap Rate 9%
$248,500
$248.5K
Market Conditions
NOI Build-Up for 2,254 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
$33.8K $15.00/SF
− Vacancy
−$1.9K −$0.83/SF
EGI
$32.0K $14.17/SF
− OpEx
−$9.6K −$4.25/SF
NOI
$22.4K $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%
$447,300
Cap Rate 7%
$319,500
Cap Rate 9%
$248,500
Alternative Uses
Best Use
Multifamily LT 5
$319.5K
$279.6K – $372.8K
NOI $22,365 @ 7.0% cap · market cap 7.99%
Second Best
Apartment 5plus
$294.3K
$257.5K – $343.3K
NOI $20,600 @ 7.0% cap · market cap 7.36%
Theoretical Best
Office A
$542.0K
$474.3K – $632.4K
NOI $37,943 @ 7.0% cap · market cap 13.56%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
2
Residential units
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
390
Businesses Nearby
Explore this area
Business Placement
Demographics for 14223, NY
22,658
Population
10,586
Households
2.1
Avg Household Size
41
Median Age
44%
College-Educated
97%
High-School Grad
3.5 sq mi
ZIP Area
6,474
Density / Sq Mi
$83,528
Median Household Income
$49,835
Median Earnings
$976
Median Rent
$202,200
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
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Frequently Asked Questions
What type of property is this?
Duplex - Two residential units feature separate utilities, hardwood floors, updated finishes, and access to a patio and spacious yard.
Where is this duplex located?
The property is located at 933 Starin Ave Buffalo, NY.
What is the asking price?
The asking price for this property is $279,900.
What are key features of this property?
This property features: Two‑unit duplex with 3 bedrooms in each unit; 2,254 square feet of total building area; Separate modern utilities for each unit
