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531 S Park Avenue

Buffalo, NY 14204
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$139,000 $586/Mo
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Bed 6

Bed

Bath 2

Bath

SqFt2,982

Sqft

Acres0.15

Acre(Lot)

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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Detail Ic Property Details

Property Type : Residential

Price : $139,000

AD Id : 78944132

MLS Id : B1683191

Beds : 6

Lot Size : 0.15 Acre

Living Area Size : 2,982

Year Built : 1910

Garage : 2

County : Erie

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Feature Features

  • Bedroom Information

    Total beds: 6

    Bathroom Information

    Total Baths: 2 Full Baths: 2

    Room Information

    Has Basement: Yes Basement: Full

  • Flooring Information

    Laminate, Varies

  • Interior Features

    Appliances: Gas Water Heater, Water Heater

  • Heating & Cooling

    Has Heating: Yes Heating: Electric, Other, See Remarks Has Cooling: Yes Cooling: Other

  • Building Information

    Year Built: 1910 Building Area Total: 2982 Construction Materials: Vinyl Siding Stories: 2 Private Pool: No

  • Lot Information

    Lot Dimensions: 35X180 Main Square Feet: 0.145 Acres Lot Size Acres: 0.145 Lot Size Square Feet: 6314 Lot Description: Rectangular Lot

  • Listing Price Information

    Listing Price: $139000 Original Price: $159000 Cash, Private Financing Available

  • Tax Information

    Parcel Number: 140200-122-320-0004-010-000 Tax Lot: 10 Annual Tax: $1879

  • Garage Information

    Has Garage: Yes Garage Space: 2

  • Utility Information

    Sewer Connected, Water Connected

  • Location Information

    WaterSource: Public
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Nearby Home Value

Address Estimate Bed Bath Sq. Ft Lot Size
297 Hamburg St, Buffalo, NY, 14204 $150,000 6 2 2,772 2,772 SqFt
553 S Park Avenue, Buffalo, NY, 14204 $199,900 6 2 3,566 3,566 SqFt
34 Alabama Street, Buffalo, NY, 14204 $274,900 6 3 2,671 2,671 SqFt
10 South Street, Buffalo, NY, 14204 $129,000 4 2 1,791 1,791 SqFt

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The data relating to real estate for sale on this website comes in part from the Internet Data exchange (IDX) program of the New York State Alliance MLS. IDX information is provided exclusively for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Real estate listings held by brokerage firms other than ByOwner, are indicated by detailed information about them such as the name of the listing firms. All information deemed reliable but not guaranteed and should be independently verified. All properties are subject to prior sale, change or withdrawal. Neither the listing broker(s) nor ByOwner shall be responsible for any typographical errors, misinformation, misprints, and shall be held totally harmless. Copyright ©2026 New York State Alliance and participating MLS's - CNYIS, UNYREIS and WNYREIS. All Rights Reserved.

ByOwner last updated this listing 06/11/2026 @ 12:54

MLS: B1683191 LISTED BY: Alan Findlay, Blue Eagle Realty Corp. 716-536-1787 SOURCE: Western New York Real Estate Information Services (WNYREIS)

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