Brick Duplex with Two
For Sale
$319,900
288 Meadowlawn Road, Buffalo, NY 14225
MULTI_FAMILY - Other - Buffalo, NY
Property Size2,080 SF
Lot Size0.13 Acres
Price / SF$153.80
Days on Market59
Property Features for 288 Meadowlawn Road
General Information
Property type
Residential Multi Family
Property subtype
Other
Bedrooms
5
Bathrooms
2
Full bathrooms
2
Rooms
Bedroom 1, Bedroom 3, Bathroom 2, Bedroom 2, Basement, Bathroom 1, Bedroom 4, Bedroom 5
Parking features
Garage, Open
Exterior features
Fence
Fencing
Fenced
Appliances
GasWaterHeater
Lot features
Rectangular, Rectangular Lot, Residential Lot
Elementary school
Pine Hill Primary Center
Middle school
Cheektowaga Middle
High school
Cheektowaga High
Elementary school district
Cheektowaga
Middle school district
Cheektowaga
High school district
Cheektowaga
Subdivision
Cheektowaga-143089
Standard status
Active
APN
143089-092-180-0007-047-000
Size
2,080 SF
Lot size
0.13 Acres
Taxes and HOA fees
Tax Annual Amount
7894
Utilities
Heating system
Natural Gas, Hot Water(Heating)
Water source
Public
Amenities
ceiling fans
common laundry room
paver patio
partially fenced yard
mature gardens
Building Details
Year built
1962
Floors in Building
2
Number of units
2
Flooring type
Vinyl, Hardwood, Tile, Varies, Resilient
Building materials
Brick
Architectural style
Other
Listing Agency:
Keller Williams Realty WNY
(716) 832-3300
Listed By:
John Santora III · License #10401291249
(716) 908-4304
Added: Jun 18
Changed: Aug 13
Last Checked: Aug 15 at 7:06AM
MLS# B1691735
Copyright © 2026 New York State Alliance of MLSs, LLC. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
Brick duplex offering two separate apartments with tenant privacy, each featuring bright, functional layouts. The lower apartment is a 2-bedroom, 1-bath unit, and the upper apartment is a 3-bedroom, 1-bath unit. Interior updates include updated flooring throughout, with laminate flooring in living areas, kitchens, and hallways, plus wall-to-wall carpeting in bedrooms. Upper apartment flooring, stairs, and landing were updated in 2021, and the lower apartment received new flooring in 2023. Bathroom renovations were completed in 2021 for both apartments.
Mechanical and systems improvements support efficient, low-maintenance ownership, including low-E windows and an upgraded tankless boiler for on-demand hot water and heat. Additional upgrades include a hydraulic backup sump system installed in 22/23, a new garage door for the upper unit in 2025, and a lower apartment shower valve replacement in 2025.
Exterior features include attractive curb appeal with professional landscaping, a large concrete driveway with parking for up to seven vehicles, and a detached two-car garage with separate doors and openers for each apartment. The backyard includes a partially fenced yard, paver patio, and mature gardens. A common laundry room and a complete tear-off architectural roof installed in 2006 round out the property’s well-kept condition.
Mechanical and systems improvements support efficient, low-maintenance ownership, including low-E windows and an upgraded tankless boiler for on-demand hot water and heat. Additional upgrades include a hydraulic backup sump system installed in 22/23, a new garage door for the upper unit in 2025, and a lower apartment shower valve replacement in 2025.
Exterior features include attractive curb appeal with professional landscaping, a large concrete driveway with parking for up to seven vehicles, and a detached two-car garage with separate doors and openers for each apartment. The backyard includes a partially fenced yard, paver patio, and mature gardens. A common laundry room and a complete tear-off architectural roof installed in 2006 round out the property’s well-kept condition.
Key Highlights
- Two apartments: 2‑bedroom/1‑bath lower and 3‑bedroom/1‑bath upper
- Low‑E windows and upgraded tankless boiler for on‑demand heat and hot water
- Updated flooring: upper updates in 2021; lower new flooring in 2023; bath renovations in 2021
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$20,639
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
6.45%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$412,780
$412.8K
Cap Rate 7%
$294,843
$294.8K
Cap Rate 9%
$229,322
$229.3K
Market Conditions
NOI Build-Up for 2,080 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$31.2K $15.00/SF
− Vacancy
−$1.7K −$0.83/SF
EGI
$29.5K $14.17/SF
− OpEx
−$8.8K −$4.25/SF
NOI
$20.6K $9.92/SF
Area
Buffalo, NY
Vacancy
5.50%
Lease Rate
$15.00 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$412,780
Cap Rate 7%
$294,843
Cap Rate 9%
$229,322
Alternative Uses
Best Use
Multifamily LT 5
$294.8K
$258.0K – $344.0K
NOI $20,639 @ 7.0% cap · market cap 6.45%
Second Best
Apartment 5plus
$271.6K
$237.6K – $316.8K
NOI $19,010 @ 7.0% cap · market cap 5.94%
Theoretical Best
Office A
$500.2K
$437.7K – $583.6K
NOI $35,014 @ 7.0% cap · market cap 10.95%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
347
Businesses Nearby
Explore this area
Business Placement
Demographics for 14225, NY
34,066
Population
16,253
Households
2.1
Avg Household Size
41
Median Age
29%
College-Educated
93%
High-School Grad
11.5 sq mi
ZIP Area
2,962
Density / Sq Mi
$65,562
Median Household Income
$44,408
Median Earnings
$937
Median Rent
$154,500
Median Home Value
Market
Vacancy Rate% for Multifamily in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Duplex - Brick duplex on a public water lot with two separate apartments, updated finishes, and efficient tankless heating.
Where is this duplex located?
The property is located at 288 Meadowlawn Road Buffalo, NY.
What is the asking price?
The asking price for this property is $319,900.
What are key features of this property?
This property features: Two apartments: 2‑bedroom/1‑bath lower and 3‑bedroom/1‑bath upper; Low‑E windows and upgraded tankless boiler for on‑demand heat and hot water; Updated flooring: upper updates in 2021; lower new flooring in 2023; bath renovations in 2021
