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Listed price in listed location currency (USD).
$159,000

622

MLS® B1683191

  • Key Facts
  • Description
  • Map

Key Facts

Type Multi Family
Levels Residential
Size 2982 sqft
Garage Yes
Taxes $1,879
Days Active 0
Lot Size 
Approx. Age 1910
Avg. Price Per Sqft $53
MLS® Number B1683191

Property Address: 531 S Park Avenue, Buffalo, NY, 14204

Average square foot calculated using Size range provided by listing agent.

Description

531 South Park Avenue, Buffalo, NY 14204 Competitively priced value add This is a classic two-family duplex (upper/lower) built in 1910 in Buffalo's First Ward neighborhood along South Park Avenue. The property offers a hefty 2, 982 sq ft of living space on a 6, 300 sq ft lot (0.14 acres), with separate utilities (boilers) typical for these older multi-family homes. Key highlights for investors:Upper unit is currently tenanted for $1200 per month— providing immediate rental income and cash flow from day one. Lower unit requires rehab — offering strong value-add potential through cosmetic and mechanical updates to bring it to market rents. Solid bones in a location near South Park, with access to Buffalo's revitalizing areas, public transit, and amenities. The neighborhood shows ongoing interest from investors in multi-family properties. Low property taxes (recent assessment around $140, 000 total, with taxes historically modest at a few hundred dollars annually). This property suits a hands-on investor or rehabber looking for a turnkey partial cash-flow play with upside from stabilizing the lower unit. Once both units are fully renovated and leased, it could deliver attractive returns in Buffalo's rental market. Potential returns: Buffalo multi-family cap rates generally range 6–8%+ for value-add properties in this segment. Rents in the broader South Buffalo/First Ward area average ~$1, 100–$1, 600+ per unit for 2–3 bed setups (upper unit likely in that ballpark). Post-rehab, stabilized gross rents could approach $2, 400–$3, 200/month, supporting solid cash-on-cash once stabilized.
MLS® NumberB1683191
Laundry Level
Central VacNo
FireplaceNo
Acreage
Exterior
GarageYes
Approx. Age1910
BasementFull
DrivewayTwo Or More Spaces
Garage Spaces
Heat
A/C
Heating Fuel

Extras

Price History

-End Date
Not Sold YetSold Price

For Sale

May 20, 2026List Date
$159,000List Price
  • Commute

Commute

Starting Address
Destination Address
531 S Park Avenue, Buffalo, NY

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