Multifamily Property in Desirable
478 Lisbon Avenue Buffalo, NY 14215
478 Lisbon Avenue, Buffalo, NY, 14215
$219,900
Pending
For Sale
$219,900
Pending
MULTI_FAMILY - Other - Buffalo, NY
Property Size1,958 SF
Lot Size0.08 Acres
Days on Market96
Property Features for 478 Lisbon Avenue
General Information
- Property type
- Residential Multi Family
- Property subtype
- Other
- Bedrooms
- 4
- Bathrooms
- 2
- Rooms
- Bedroom 3, Bedroom 4, Bathroom 1, Bathroom 2, Basement, Bedroom 2, Bedroom 1
- Parking features
- Garage
- Patio and Porch features
- Porch
- Interior features
- CeilingFans, NaturalWoodwork
- Exterior features
- Balcony, FullyFenced
- Fencing
- Fenced
- Appliances
- GasWaterHeater
- Standard status
- Pending
- APN
- 140200-079-650-0004-033-000
- Size
- 1,958 SF
- Lot size
- 0.08 Acres
Taxes and HOA fees
- Tax Annual Amount
- 1454
Utilities
- Heating system
- Forced Air, Natural Gas
- Water source
- Public
Building Details
- Year built
- 1902
- Floors in Building
- 2
- Number of units
- 2
- Flooring type
- Hardwood, Carpet, Varies, Vinyl
- Building materials
- CompositeSiding, VinylSiding, CopperPlumbing
- Architectural style
- Other
Listing agency
WNY Metro Roberts Realty
(716) 875-2211
Listed by
Susan L Mecca · License #10401232868
(716) 407-0373
Added: Apr 18 Updated: Jul 9 at 3:58AM Checked: Jul 22 at 6:06AM
MLS# B1674347
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.
This multifamily property is located in a desirable location and features two spacious bedrooms in each unit, offering strong rental appeal and excellent income potential. Amenities include a 2-car garage, a private balcony, and a covered front entrance. The full, clean, dry basement provides ample storage. The property is situated minutes from UB, major thoroughfares, shopping, and popular restaurants, offering convenience and consistent tenant demand. Separate utilities and a thoughtful layout facilitate easy management and maximize profitability. The property size is 1958 square feet and the lot size is 0.08 acres.
Key Highlights
- Multifamily home built in 1902 with 4 bedrooms and 2 bathrooms plus a full basement
- Heating: forced air with natural gas; gas water heater
- Exterior features include a private balcony, porch, and fully fenced yard
Local Financial Insights For Multifamily LT 5
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $29.4k | $15.00 |
| − Vacancy | −$1.6k | −$0.83 |
| EGI | $27.8k | $14.17 |
| − OpEx | −$8.3k | −$4.25 |
| NOI | $19.4k | $9.92 |
1,958 SF · lease $15.00/SF/yr · vacancy 5.50% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$277.5K
$242.9K – $323.8K
NOI $19,428 @ 7.0% cap · market cap 8.83%
Second Best
Apartment 5plus
$255.6K
$223.7K – $298.3K
NOI $17,895 @ 7.0% cap · market cap 8.14%
Theoretical Best
Office A
$470.9K
$412.0K – $549.3K
NOI $32,960 @ 7.0% cap · market cap 14.99%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
Duplexes
Similar For Sale Nearby
FAQs
What type of property is this?
Duplex - Well-maintained multifamily property with strong rental appeal and excellent income potential.
Where is this duplex located?
The property is located at 478 Lisbon Avenue Buffalo, NY.
What is the asking price?
The asking price for this property is $219,900.
What are key features of this property?
This property features: Multifamily home built in 1902 with 4 bedrooms and 2 bathrooms plus a full basement; Heating: forced air with natural gas; gas water heater; Exterior features include a private balcony, porch, and fully fenced yard
