Furnished Six-Unit Apartment
For Sale
$850,000
67 Harvard Place, Buffalo, NY 14209
MultiFamily, Buffalo, NY
Property Size5,471 SF
Lot Size0.29 Acres
Price / SF$155.36
Days on Market197
Property Features for 67 Harvard Place
General Information
Property type
Residential Multi Family
Property subtype
Other
Bedrooms
6
Rooms
Basement, Bedroom 2, Bedroom 6, Bedroom 3, Bedroom 5, Bedroom 4, Bedroom 1
Exterior features
GravelDriveway
Appliances
GasCooktop, GasWaterHeater
Lot features
Near Public Transit, Rectangular, Rectangular Lot
Elementary school district
Buffalo
Middle school district
Buffalo
High school district
Buffalo
Subdivision
Buffalo City-140200
Standard status
Active
APN
140200-100-240-0003-050-100
Size
5,471 SF
Lot size
0.29 Acres
Taxes and HOA fees
Tax Annual Amount
10478
Utilities
Heating system
Forced Air, Natural Gas
Water source
Public
Amenities
washer
dryer
storage space
garage
Building Details
Year built
1930
Floors in Building
2
Number of units
6
Flooring type
Vinyl, Varies
Building materials
WoodSiding
Roof type
Asphalt
Listing Agency:
WNY Metro Roberts Realty
(716) 662-0449
Listed By:
Shannon G Szalay · License #10401311154
(716) 913-0662
Added: Feb 20
Changed: Sep 5
Last Checked: Sep 5 at 4:06PM
MLS# B1663059
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 six-unit apartment building at 67 Harvard Place includes 5,471 square feet of finished space on a 0.2868-acre parcel. The property has been completely redone and is offered fully furnished, with leather furnishings, washer and dryer equipment, toiletries, and a gas cooktop. Individual tenant storage is provided in the basement.
An additional lot next door is included with the property. A rear garage, gravel driveway, wood siding, asphalt roof, vinyl and varied flooring, forced-air heating, natural gas service, and public water are among the existing improvements and systems. Built in 1930, the building is located in Buffalo, NY, near Canisius College.
An additional lot next door is included with the property. A rear garage, gravel driveway, wood siding, asphalt roof, vinyl and varied flooring, forced-air heating, natural gas service, and public water are among the existing improvements and systems. Built in 1930, the building is located in Buffalo, NY, near Canisius College.
Key Highlights
- Six‑unit apartment building with 5,471 square feet
- Fully furnished apartments with leather furnishings, washer and dryer equipment, and toiletries
- 0.2868‑acre parcel plus an additional lot next door
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
$50,001
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
5.88%
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%
$1,000,020
$1.0M
Cap Rate 7%
$714,300
$714.3K
Cap Rate 9%
$555,567
$555.6K
Market Conditions
NOI Build-Up for 5,471 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
$95.2K $17.40/SF
− Vacancy
−$4.3K −$0.78/SF
EGI
$90.9K $16.62/SF
− OpEx
−$40.9K −$7.48/SF
NOI
$50.0K $9.14/SF
Area
Buffalo, NY
Vacancy
4.50%
Lease Rate
$17.40 /SF/Yr
Expense Ratio
45.00%
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%
$1,000,020
Cap Rate 7%
$714,300
Cap Rate 9%
$555,567
Alternative Uses
Best Use
Apartment 5plus
$714.3K
$625.0K – $833.4K
NOI $50,001 @ 7.0% cap · market cap 5.88%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.32M
$1.15M – $1.53M
NOI $92,097 @ 7.0% cap · market cap 10.83%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
6
Residential units
Location Intelligence
Trade Area within ½ mile
1,113
Businesses Nearby
Explore this area
Business Placement
Demographics for 14209, NY
8,251
Population
4,729
Households
1.7
Avg Household Size
39
Median Age
46%
College-Educated
90%
High-School Grad
1.0 sq mi
ZIP Area
8,251
Density / Sq Mi
$49,359
Median Household Income
$33,329
Median Earnings
$1,025
Median Rent
$408,600
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?
Apartment building - Renovated apartments include furnishings, laundry equipment, and dedicated basement storage for each tenant.
Where is this apartment building located?
The property is located at 67 Harvard Place Buffalo, NY.
What is the asking price?
The asking price for this property is $850,000.
What are key features of this property?
This property features: Six‑unit apartment building with 5,471 square feet; Fully furnished apartments with leather furnishings, washer and dryer equipment, and toiletries; 0.2868‑acre parcel plus an additional lot next door
