🚨Duplex at land value, NYC cashflow + 2 acreage plays
Duplex at land value, NYC cashflow + 2 acreage plays
This week's deals include a Buffalo duplex trading at land value with tenant upside potential, a historic 1830 duplex on 1.6 acres offering development optionality, a convertible single-to-duplex with massive assessment discount, and a Brooklyn multifamily generating $4K/month with instant equity opportunity.
Multifamily REO opportunities spanning $15-250/sqft — whether you're targeting cash flow conversion projects, large-lot development plays, duplex arbitrage opportunities, or NYC rental income with immediate tenant stabilization.
Free readers get the Buffalo conversion play, paid subscribers get all 4 multifamily deals.
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Distressed Deals of The Week
🎯 Buffalo Duplex - Land Value Play
This 6-bed, 2-bath duplex delivers 1,982 sq ft at just $15/sqft with "vacant lot" potential and contradictory structural specs creating maximum uncertainty.
At $1,354/mo rent estimate with 552+ days on market, this cash-only REO offers extreme risk/reward for developers comfortable with potential teardown scenarios.
🏞️ Historic Acreage Goldmine - Barn Included
This 5-bed, 3-bath multifamily delivers 2,502 sq ft on a massive 1.6-acre lot at $34/sqft with detached barn and mature trees.
Fresh listing (4 days) with strong interest and tax assessment 28% above ask price suggests this won't last long for historic renovation specialists.
⚠️ Assessment Anomaly - Proceed with Caution
This 5-bed, 2-bath convertible duplex delivers 1,480 sq ft at $41/sqft but with shocking $10K tax assessment versus $60K ask creating massive red flags.
66 days on market with minimal interest and duplex zoning flexibility offers high-risk opportunity for experienced distressed property veterans.
🌆 Brooklyn Short Sale - Tenant Occupied Goldmine
This 6-bed, 2-bath multifamily delivers 2,000 sq ft at $250/sqft with NO INTERIOR ACCESS but immediate $4,067/mo rent potential from existing tenants.
Fresh listing (2 days) with massive interest and 39% discount to assessed value creates instant equity opportunity for NYC multifamily specialists comfortable with blind purchases.
417 Bailey Ave, Buffalo, NY 14210
🏠 6 beds, 2 baths across 1,982 sq ft — listed at $29,900 on a 3,598 sq ft lot.
Built in 1910, this duplex foreclosure is described as a "VACANT LOT" with "loads of potential" despite being listed as having structure.
Gas heating, partial basement, and wood siding included. At $15/sqft, this represents an extreme distressed value play for cash buyers only.
💡 Pro Tip:
The conflicting "vacant lot" description vs. structural specs suggests either total demolition needed or marketing confusion.
At $15/sqft, you're essentially paying land value - perfect for teardown/rebuild scenarios.
💰 Financial Snapshot
Est. Market Value: (Zestimate unavailable)
Purchase Status: Bank-owned foreclosure (REO)
Current Ask: $29,900
Layout: 6 bed / 2 bath duplex
Building Size: 1,982 sq ft
Lot Size: 3,598 sq ft (30' x 120')
Year Built: 1910
Price per Sq Ft: $15/sqft
Rent Zestimate: $1,354/month
Annual Taxes: $1,614
HOA: None
⚠️ Heads Up
552+ days on market with decent interest but no sale suggests major issues
Cash-only financing requirement eliminates most buyers
🏆 Best for:
Developers comfortable with potential complete demolition
Cash investors seeking maximum risk/reward scenarios
Local contractors familiar with Buffalo's distressed market dynamics
Why it works:
Rent Zestimate of $1,354/month suggests $16K+ annual income potential if renovated
Recent sale history shows $52K transaction in 2023, indicating $22K+ potential upside
Rectangular lot dimensions (30x120) provide flexible development options