Updated 3-Unit
For Sale
$475,000
Pending
104 Claremont Avenue, Buffalo, NY 14222
Residential, Buffalo, NY
Property Size3,488 SF
Lot Size0.09 Acres
Days on Market99
Property Features for 104 Claremont Avenue
General Information
Property type
Residential Multi Family
Property subtype
Other
Bedrooms
8
Bathrooms
3
Full bathrooms
3
Rooms
Bedroom 3, Bedroom 4, Bathroom 1, Basement, Bathroom 2, Bedroom 1, Bedroom 5, Bedroom 8, Bedroom 6, Bathroom 3, Bedroom 2, Bedroom 7
Parking features
On Street, Driveway
Appliances
GasWaterHeater
Lot features
Rectangular, Rectangular Lot, Residential Lot
Elementary school district
Buffalo
Middle school district
Buffalo
High school district
Buffalo
Subdivision
Buffalo City-140200
Standard status
Pending
APN
140200-089-690-0001-012-000
Size
3,488 SF
Lot size
0.09 Acres
Taxes and HOA fees
Tax Annual Amount
4192
Utilities
Heating system
Natural Gas, Baseboard
Water source
Public
Amenities
individual laundry
partially fenced back yard
Building Details
Year built
1900
Floors in Building
2
Number of units
3
Flooring type
Varies, Tile, Vinyl, Hardwood
Building materials
Cedar, WoodSiding
Architectural style
Other
Listing Agency:
WNY Metro Roberts Realty
(716) 891-1710
Listed By:
Corey Mentel · License #10401347791
(716) 536-9779
Added: May 18
Changed: Aug 19
Last Checked: Aug 24 at 8:06PM
MLS# B1680255
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 three-unit multifamily property contains 3,488 square feet on a 0.093-acre lot and dates to 1900. The lower unit has a remodeled bathroom, an updated kitchen, and new appliances, while the third unit has been fully renovated with modern finishes and abundant natural light. All units include individual laundry, and the property also offers spacious layouts, a full basement, a partially fenced backyard, hardwood and tile flooring, natural gas baseboard heat, and public water.
Located on Claremont Avenue in Buffalo's West Side, the property is near Elmwood Village, with restaurants, parks, shopping, and major thruways in the surrounding area. Parking includes a driveway and on-street options. Cedar and wood siding preserve the building's original character while the recent unit improvements add updated functionality.
Located on Claremont Avenue in Buffalo's West Side, the property is near Elmwood Village, with restaurants, parks, shopping, and major thruways in the surrounding area. Parking includes a driveway and on-street options. Cedar and wood siding preserve the building's original character while the recent unit improvements add updated functionality.
Key Highlights
- Three‑unit multifamily property with 3,488 square feet
- 0.093‑acre lot with a partially fenced backyard
- Lower unit includes a remodeled bathroom, updated kitchen, and new appliances
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
$34,610
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
7.29%
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%
$692,200
$692.2K
Cap Rate 7%
$494,429
$494.4K
Cap Rate 9%
$384,556
$384.6K
Market Conditions
NOI Build-Up for 3,488 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
$52.3K $15.00/SF
− Vacancy
−$2.9K −$0.83/SF
EGI
$49.4K $14.17/SF
− OpEx
−$14.8K −$4.25/SF
NOI
$34.6K $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%
$692,200
Cap Rate 7%
$494,429
Cap Rate 9%
$384,556
Alternative Uses
Best Use
Multifamily LT 5
$494.4K
$432.6K – $576.8K
NOI $34,610 @ 7.0% cap · market cap 7.29%
Second Best
Apartment 5plus
$455.4K
$398.5K – $531.3K
NOI $31,878 @ 7.0% cap · market cap 6.71%
Theoretical Best
Office A
$838.8K
$734.0K – $978.6K
NOI $58,716 @ 7.0% cap · market cap 12.36%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
3
Residential units
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
1,010
Businesses Nearby
Explore this area
Business Placement
Demographics for 14222, NY
13,629
Population
7,355
Households
1.9
Avg Household Size
32
Median Age
63%
College-Educated
98%
High-School Grad
1.2 sq mi
ZIP Area
11,358
Density / Sq Mi
$83,692
Median Household Income
$50,045
Median Earnings
$1,168
Median Rent
$408,100
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 - Multifamily property with renovated units, individual laundry, basement storage, and a partially fenced backyard.
Where is this triplex located?
The property is located at 104 Claremont Avenue Buffalo, NY.
What is the asking price?
The asking price for this property is $475,000.
What are key features of this property?
This property features: Three‑unit multifamily property with 3,488 square feet; 0.093‑acre lot with a partially fenced backyard; Lower unit includes a remodeled bathroom, updated kitchen, and new appliances
