Triplex With Attached
For Sale
$375,000
88 Schiller Street, Buffalo, NY 14206
Residential, Buffalo, NY
Property Size2,736 SF
Lot Size0.07 Acres
Price / SF$137.06
Days on Market65
Property Features for 88 Schiller Street
General Information
Property type
Residential Multi Family
Property subtype
Other
Bedrooms
7
Bathrooms
3
Full bathrooms
3
Rooms
Bedroom 3, Bedroom 4, Bathroom 1, Basement, Bathroom 2, Bedroom 1, Bedroom 5, Bedroom 6, Bathroom 3, Bedroom 2, Bedroom 7
Parking features
Driveway
Appliances
GasWaterHeater
Subdivision
Holland Land Company's Su
Lot features
Near Public Transit, Rectangular, Rectangular Lot, Residential Lot
Elementary school district
Buffalo
Middle school district
Buffalo
High school district
Buffalo
Standard status
Active
APN
140200-112-510-0004-027-000
Size
2,736 SF
Lot size
0.07 Acres
Taxes and HOA fees
Tax Annual Amount
2134
Utilities
Heating system
Forced Air, Natural Gas
Water source
Public
Building Details
Year built
1930
Floors in Building
2
Number of units
3
Flooring type
Varies, Laminate, Carpet, Tile
Building materials
Frame, VinylSiding
Listing Agency:
WNY Metro Roberts Realty
(716) 668-2500
Listed By:
Anthony J Gawron · License #10301210045
(716) 864-8972
Added: Jun 17
Changed: Aug 19
Last Checked: Aug 20 at 8:06AM
MLS# B1691571
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 fully renovated triplex at 88 Schiller Street offers three residential units plus an attached garage. The unit mix includes two 2-bedroom apartments and one oversized 3-bedroom apartment. Building improvements focus on replacing deferred maintenance so the next owner can concentrate on property operations.
The home is constructed of frame with vinyl siding and includes a basement. Interior finishes include carpet, tile, and laminate flooring. Heating is provided by natural gas forced-air systems, and a gas water heater is included. Parking is provided via a driveway. Public water is available.
Built in 1930, the property sits on a 0.0716-acre lot with a reported 2,736 square feet. The attached garage is a key feature of the offering, creating additional space that can support a variety of accessory uses alongside the residential rental component.
The home is constructed of frame with vinyl siding and includes a basement. Interior finishes include carpet, tile, and laminate flooring. Heating is provided by natural gas forced-air systems, and a gas water heater is included. Parking is provided via a driveway. Public water is available.
Built in 1930, the property sits on a 0.0716-acre lot with a reported 2,736 square feet. The attached garage is a key feature of the offering, creating additional space that can support a variety of accessory uses alongside the residential rental component.
Key Highlights
- Fully renovated 3‑unit triplex with an attached garage
- Two 2‑bedroom apartments and one oversized 3‑bedroom apartment
- Frame construction with vinyl siding and basement
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
$27,148
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
7.24%
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%
$542,960
$543.0K
Cap Rate 7%
$387,829
$387.8K
Cap Rate 9%
$301,644
$301.6K
Market Conditions
NOI Build-Up for 2,736 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
$41.0K $15.00/SF
− Vacancy
−$2.3K −$0.83/SF
EGI
$38.8K $14.17/SF
− OpEx
−$11.6K −$4.25/SF
NOI
$27.1K $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%
$542,960
Cap Rate 7%
$387,829
Cap Rate 9%
$301,644
Alternative Uses
Best Use
Multifamily LT 5
$387.8K
$339.4K – $452.5K
NOI $27,148 @ 7.0% cap · market cap 7.24%
Second Best
Apartment 5plus
$357.2K
$312.6K – $416.8K
NOI $25,005 @ 7.0% cap · market cap 6.67%
Theoretical Best
Office A
$658.0K
$575.7K – $767.6K
NOI $46,057 @ 7.0% cap · market cap 12.28%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
3
Residential units
Location Intelligence
Trade Area within ½ mile
415
Businesses Nearby
Explore this area
Business Placement
Demographics for 14206, NY
21,706
Population
10,677
Households
2
Avg Household Size
38
Median Age
18%
College-Educated
87%
High-School Grad
5.0 sq mi
ZIP Area
4,341
Density / Sq Mi
$46,842
Median Household Income
$38,379
Median Earnings
$886
Median Rent
$111,600
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?
Triplex - Fully renovated three-unit triplex with an attached garage, offering two 2-bedroom units plus one oversized 3-bedroom unit.
Where is this triplex located?
The property is located at 88 Schiller Street Buffalo, NY.
What is the asking price?
The asking price for this property is $375,000.
What are key features of this property?
This property features: Fully renovated 3‑unit triplex with an attached garage; Two 2‑bedroom apartments and one oversized 3‑bedroom apartment; Frame construction with vinyl siding and basement
