Renovated Three-Unit
For Sale
$299,900
Pending
129 Farmer Street, Buffalo, NY 14207
Three two-bedroom residences feature updated bathrooms, separate utilities, and a distinctive historic turret.
Property Size2,494 SF
Days on Market76
Property Features for 129 Farmer Street
General Information
Standard status
Pending
Size
2,494 SF
Property subtype
Multi Family
Site & Location
Neighborhood
Black Rock
Units
Unit Mix
3 x 2BR
Multifamily Units
3
Taxes and HOA fees
Annual Taxes
$1,752
Building Details
Building Size
2,494 SF
Year Built
1900
Buildings
1
Stories
3
Listing Agency:
eXp Realty
Listed By:
James Wangelin · License #10301224073
(716) 903-3198
Source:
Highfallssir
Added: Aug 18
Changed: Oct 31
Last Checked: Oct 30 at 8:33PM
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 eXp Realty
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Investment Insights
Based on property information with market context.
This three-unit residential property in Buffalo, New York, combines a historic exterior feature with comprehensive interior updates. Built in 1900, the building occupies a corner lot and is organized with one residence per floor. Each apartment provides a two-bedroom layout, creating consistent configuration across the property.
Renovation work includes remodeled bathrooms with custom-tiled surrounds in all three units. Separate utility service for each residence supports distinct measurement and allocation of utility usage. A prominent turret adds architectural definition to the property’s street-facing character, while the three-floor arrangement provides a clear unit-by-unit layout.
Renovation work includes remodeled bathrooms with custom-tiled surrounds in all three units. Separate utility service for each residence supports distinct measurement and allocation of utility usage. A prominent turret adds architectural definition to the property’s street-facing character, while the three-floor arrangement provides a clear unit-by-unit layout.
Key Highlights
- Three‑unit triplex with one residence on each floor
- Each unit offers a two‑bedroom layout
- All three bathrooms include custom‑tiled surrounds
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$24,747
Cap Rate
8.25%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$494,940
$494.9K
Cap Rate 7%
$353,529
$353.5K
Cap Rate 9%
$274,967
$275.0K
Market Conditions
NOI Build-Up for 2,494 SF
Gross rent
$37.4K $15.00/SF
− Vacancy
−$2.1K −$0.83/SF
EGI
$35.4K $14.17/SF
− OpEx
−$10.6K −$4.25/SF
NOI
$24.7K $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 Rate 5%
$494,940
Cap Rate 7%
$353,529
Cap Rate 9%
$274,967
Alternative Uses
Best Use
Multifamily LT 5
$353.5K
$309.3K – $412.5K
NOI $24,747 @ 7.0% cap · market cap 8.25%
Second Best
Apartment 5plus
$325.6K
$284.9K – $379.9K
NOI $22,794 @ 7.0% cap · market cap 7.60%
Theoretical Best
Office A
$599.8K
$524.8K – $699.7K
NOI $41,983 @ 7.0% cap · market cap 14.00%
Zoning and permitted uses should be independently verified with authorities.
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Lease Details
3
Residential units
Location Intelligence
Trade Area within ½ mile
677
Businesses Nearby
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Business Placement
Demographics for 14207, NY
26,006
Population
11,317
Households
2.3
Avg Household Size
32
Median Age
19%
College-Educated
79%
High-School Grad
3.9 sq mi
ZIP Area
6,668
Density / Sq Mi
$38,951
Median Household Income
$33,851
Median Earnings
$943
Median Rent
$111,200
Median Home Value
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Market
Vacancy Rate% for Multifamily in Northeast region
Frequently Asked Questions
What type of property is this?
Triplex - Three two-bedroom residences feature updated bathrooms, separate utilities, and a distinctive historic turret.
Where is this triplex located?
The property is located at 129 Farmer Street Buffalo, NY.
What is the asking price?
The asking price for this property is $299,900.
What are key features of this property?
This property features: Three‑unit triplex with one residence on each floor; Each unit offers a two‑bedroom layout; All three bathrooms include custom‑tiled surrounds
