Updated Duplex With Detached
For Sale
$325,000
1203 Eggert Road, Buffalo, NY 14226
Two refreshed apartments provide private laundry, separate living areas, and updated kitchens and baths.
Property Size1,776 SF
Days on Market51
Property Features for 1203 Eggert Road
General Information
Standard status
Active
Size
1,776 SF
Total Parking Spaces
2
Property subtype
Multi Family Home
Units
Unit Mix
2 x 2BR/1BA
Multifamily Units
2
Taxes and HOA fees
Annual Taxes
$5,847
Amenities
private washer and dryer
Building Details
Building Size
1,776 SF
Year Built
1942
Buildings
1
Stories
2
Units
2
Listing Agency:
J Lawrence Realty
(716) 564-1618
Listed By:
Amy Carrol · License #10301220053
(716) 523-4724
Source:
Dealrealtyonline
Added: Jul 15
Changed: Aug 30
Last Checked: Aug 31 at 5:12PM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of J Lawrence Realty
Investment Insights
Based on property information with market context.
Built in 1942, this two-family property contains two apartments, each with two bedrooms, one full bathroom, a large living room, and an eat-in kitchen. Kitchen improvements include newer stainless steel appliances and durable flooring, while both bathrooms feature new vanities, tiled floors, and tiled tub surrounds. Newer vinyl windows, carpeting, fresh interior paint, and electrical updates completed in 2019 add to the property’s improvements.
Each apartment has a private washer and dryer in the basement. The property also includes two hot water tanks installed in 2018, two regularly serviced furnaces, and a roof replaced within the last 10 years. A detached two-car garage provides parking or storage. The property is located at 1203 Eggert Road in Buffalo, near downtown Buffalo, the University at Buffalo, shopping, restaurants, and other conveniences.
Each apartment has a private washer and dryer in the basement. The property also includes two hot water tanks installed in 2018, two regularly serviced furnaces, and a roof replaced within the last 10 years. A detached two-car garage provides parking or storage. The property is located at 1203 Eggert Road in Buffalo, near downtown Buffalo, the University at Buffalo, shopping, restaurants, and other conveniences.
Key Highlights
- Two apartments, each with 2 bedrooms and 1 full bathroom
- Updated kitchens with newer stainless steel appliances and improved flooring
- Renovated bathrooms with new vanities, tiled floors, and tiled tub surrounds
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
$17,622
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
5.42%
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%
$352,440
$352.4K
Cap Rate 7%
$251,743
$251.7K
Cap Rate 9%
$195,800
$195.8K
Market Conditions
NOI Build-Up for 1,776 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
$26.6K $15.00/SF
− Vacancy
−$1.5K −$0.83/SF
EGI
$25.2K $14.17/SF
− OpEx
−$7.6K −$4.25/SF
NOI
$17.6K $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%
$352,440
Cap Rate 7%
$251,743
Cap Rate 9%
$195,800
Alternative Uses
Best Use
Multifamily LT 5
$251.7K
$220.3K – $293.7K
NOI $17,622 @ 7.0% cap · market cap 5.42%
Second Best
Apartment 5plus
$231.9K
$202.9K – $270.5K
NOI $16,231 @ 7.0% cap · market cap 4.99%
Theoretical Best
Office A
$427.1K
$373.7K – $498.3K
NOI $29,896 @ 7.0% cap · market cap 9.20%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
291
Businesses Nearby
Explore this area
Business Placement
Demographics for 14226, NY
29,861
Population
13,282
Households
2.2
Avg Household Size
38
Median Age
57%
College-Educated
95%
High-School Grad
6.9 sq mi
ZIP Area
4,328
Density / Sq Mi
$83,023
Median Household Income
$48,994
Median Earnings
$1,093
Median Rent
$237,500
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?
Duplex - Two refreshed apartments provide private laundry, separate living areas, and updated kitchens and baths.
Where is this duplex located?
The property is located at 1203 Eggert Road Buffalo, NY.
What is the asking price?
The asking price for this property is $325,000.
What are key features of this property?
This property features: Two apartments, each with 2 bedrooms and 1 full bathroom; Updated kitchens with newer stainless steel appliances and improved flooring; Renovated bathrooms with new vanities, tiled floors, and tiled tub surrounds
