531 S Park Avenue, Buffalo, NY 14204
Local realty services provided by:CENTURY 21 Galloway Realty
531 S Park Avenue,Buffalo, NY 14204
$159,000
- 6 Beds
- 2 Baths
- 2,982 sq. ft.
- Multi-family
- Active
Listed by: alan findlay
Office: blue eagle realty corp.
MLS#:B1683191
Source:NY_GENRIS
Price summary
- Price:$159,000
- Price per sq. ft.:$53.32
About this home
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....
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Home facts
- Year built:1910
- Listing ID #:B1683191
- Added:2 day(s) ago
- Updated:May 22, 2026 at 02:54 PM
Rooms and interior
- Bedrooms:6
- Total bathrooms:2
- Full bathrooms:2
- Flooring:Laminate, Varies
- Basement:Yes
- Basement Description:Full
- Living area:2,982 sq. ft.
Heating and cooling
- Heating:Electric
Structure and exterior
- Year built:1910
- Building area:2,982 sq. ft.
- Lot area:0.15 Acres
- Lot Features:Rectangular, Residential Lot
- Construction Materials:Vinyl Siding
- Levels:2 Stories
Utilities
- Water:Connected, Public, Water Connected
- Sewer:Connected, Sewer Connected
Finances and disclosures
- Price:$159,000
- Price per sq. ft.:$53.32
- Tax amount:$1,879
Parking
- Garage:Yes
- Garage spaces:2
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