Standardized Operating Procedure of Purchase

109 Poultney Place is a fully gut-renovated duplex in Buffalo’s appreciating 14215 zip code, listed at $180,000 and priced to generate multiple showings and competing offers. The sellers rebuilt this property from the inside out — and they didn’t cut corners. New tear-off roof, soffits, and gutters (2025). New vinyl siding (2025). New forced air furnace in the lower unit (2026). All-new ductwork in the upper unit. New gas hot water tanks in both units (2026). Full electrical service replacement (2023) with new wiring to every switch and outlet. New plumbing supply and drain lines to every fixture. New drywall throughout. Luxury vinyl plank flooring throughout. Gut-renovated bathrooms with ceramic tile wall and tub surrounds. 99% new windows including the basement.

This is not a painted-over flip — nearly everything in this building is new.

The lower unit is a 2 bed/1 bath with a brand-new forced air furnace. The upper unit is a 2 bed/1 bath with all-new ductwork. Separate electric meters (2), separate gas meters (2), one water meter, circuit breaker panels, full basement, and driveway parking on a 35×112 lot. Both units are vacant — you choose your tenants.

For the house-hacker, collecting $950/month from the upper unit brings your monthly living cost close to zero. For the buy-and-hold investor, gross rent potential is $24,600 annually with an effective gross income of $23,370 and a net operating income of approximately $16,850. At the 1% rule this building values at $205,000. At an 8% cap rate, $210,629. Comparable vacant duplexes in 14215 have been closing between $210,000 and $250,000. The ask is $180,000. The neighborhood has seen consistent appreciation in both property values and rents for 15+ years and the duplex market in this zip code is firmly a seller’s market right now.

Offers are due Thursday, April 2nd at 5:00 PM