Quadplex with Finished
For Sale
$474,900
767 West Avenue, Buffalo, NY 14213
MULTI_FAMILY - Other - Buffalo, NY
Property Size3,938 SF
Lot Size0.07 Acres
Price / SF$120.59
Days on Market81
Property Features for 767 West Avenue
General Information
Property type
Residential Multi Family
Property subtype
Other
Bedrooms
9
Bathrooms
4
Full bathrooms
4
Rooms
Bedroom 6, Bedroom 4, Bathroom 3, Bedroom 9, Bathroom 2, Bathroom 1, Bedroom 2, Bedroom 7, Bedroom 8, Basement, Bedroom 3, Bathroom 4, Bedroom 1, Bedroom 5
Parking features
Driveway, On Street
Interior features
Attic
Appliances
GasWaterHeater
Subdivision
Buffalo
Lot features
Rectangular, Rectangular Lot, Residential Lot
Elementary school district
Buffalo
Middle school district
Buffalo
High school district
Buffalo
Standard status
Active
APN
140200-099-500-0002-018-000
Size
3,938 SF
Lot size
0.07 Acres
Taxes and HOA fees
Tax Annual Amount
6710
Utilities
Heating system
Forced Air, Natural Gas
Water source
Public
Building Details
Year built
1900
Floors in Building
2
Number of units
4
Flooring type
Varies, Vinyl
Building materials
VinylSiding
Roof type
Shingle
Architectural style
Other
Listing Agency:
Keller Williams Realty WNY
(716) 832-3300
Listed By:
Dalton Reynolds · License #10401342408
(716) 352-8679
Added: Jun 1
Changed: Aug 13
Last Checked: Aug 20 at 4:06AM
MLS# B1686290
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.
767 West Avenue is a quadplex investment property on Buffalo’s West Side, offering four apartments with updated kitchens and bathrooms. The building also includes a finished attic space, adding additional flexibility to the unit mix.
The property sits on a 0.0733-acre lot with 3,938 square feet of building area. Construction materials include vinyl siding, and the roof is shingle. Heating is provided via forced air and natural gas, and the home has a gas water heater. Water service is public, and the property includes a basement.
Parking is available via on-street parking and a driveway, supporting day-to-day tenant access. Built in 1900, this is an owner-managed-style setup designed for straightforward residential rental use.
The property sits on a 0.0733-acre lot with 3,938 square feet of building area. Construction materials include vinyl siding, and the roof is shingle. Heating is provided via forced air and natural gas, and the home has a gas water heater. Water service is public, and the property includes a basement.
Parking is available via on-street parking and a driveway, supporting day-to-day tenant access. Built in 1900, this is an owner-managed-style setup designed for straightforward residential rental use.
Key Highlights
- Four apartments with updated kitchens and bathrooms
- Finished attic space
- 0.0733‑acre lot with 3,938 square feet
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
$39,075
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
8.23%
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%
$781,500
$781.5K
Cap Rate 7%
$558,214
$558.2K
Cap Rate 9%
$434,167
$434.2K
Market Conditions
NOI Build-Up for 3,938 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
$59.1K $15.00/SF
− Vacancy
−$3.2K −$0.83/SF
EGI
$55.8K $14.17/SF
− OpEx
−$16.7K −$4.25/SF
NOI
$39.1K $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%
$781,500
Cap Rate 7%
$558,214
Cap Rate 9%
$434,167
Alternative Uses
Best Use
Multifamily LT 5
$558.2K
$488.4K – $651.3K
NOI $39,075 @ 7.0% cap · market cap 8.23%
Second Best
Apartment 5plus
$514.2K
$449.9K – $599.9K
NOI $35,991 @ 7.0% cap · market cap 7.58%
Theoretical Best
Office A
$947.0K
$828.6K – $1.10M
NOI $66,291 @ 7.0% cap · market cap 13.96%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
4
Residential units
Location Intelligence
Trade Area within ½ mile
950
Businesses Nearby
Explore this area
Business Placement
Demographics for 14213, NY
25,834
Population
11,397
Households
2.3
Avg Household Size
30
Median Age
36%
College-Educated
81%
High-School Grad
1.9 sq mi
ZIP Area
13,597
Density / Sq Mi
$52,597
Median Household Income
$36,084
Median Earnings
$1,059
Median Rent
$192,300
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?
Quadplex - Quadplex offering four apartments with updated kitchens and bathrooms plus a finished attic space.
Where is this quadplex located?
The property is located at 767 West Avenue Buffalo, NY.
What is the asking price?
The asking price for this property is $474,900.
What are key features of this property?
This property features: Four apartments with updated kitchens and bathrooms; Finished attic space; 0.0733‑acre lot with 3,938 square feet
