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    Spacious Two-Family Residence in Buffalo Title is generated by Realmo AI

    143 Oakland Place, Buffalo, NY 14222

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    Claim this Listing
    For Sale
    $749,900

    Impressive, updated 2-family home with separate utilities and modern amenities.

    Type:Multi-Family
    Property size:
    4,070 SF
    Price / SF:
    $184/SF
    Added:
    May 14, 2026
    Days on Market:
    16
    Last Refresh:
    May 27 at 11:29 am

    Property Features for 143 Oakland Place

    General Information

    Standard status
    Active
    Size
    4,070 SF
    Property subtype
    Multi-Family

    Building Details

    Year Built
    1920

    We can help!

    Listing Contact
    Robert Meredith
    Robert Meredith

    Listing agent Robert Meredith License #10311200417

    Listing office Gurney Becker & Bourne

    Listing date May 14, 2026

    Source Xome

    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 Gurney Becker & Bourne

    HighLights

    • Two‑family residence with over 4,000 sq ft, ideal for owner‑occupancy or investment with separate utilities.
    • Upper unit: 6 bedrooms, 3 full baths, renovated kitchen with granite countertops, and central air conditioning.
    • Recent updates: New roof (2019), updated electrical service, and two newer boilers (2022 & 2025).
    • Lower unit: 2 bedrooms, updated kitchen with solid surface countertops, and finished lower‑level family room.
    • Exterior features: Fully fenced yard with stamped concrete patio, 1‑car garage, and ample off‑street parking.
    • Located in a desirable neighborhood.

    Overview

    This impressive 2-family residence offers over 4,000 sq ft of living space, blending historic charm with thoughtful modern updates. Ideal for owner-occupants or investors, each unit features separate utilities and extensive upgrades throughout. The lower unit includes 2 bedrooms and 1 full bath, highlighted by oak hardwood floors, decorative fireplaces, a bright front sunroom, and a versatile den with custom built-ins. The updated kitchen boasts solid surface countertops and a full appliance package, while the finished lower-level family room adds valuable living and entertaining space. The upper unit spans two full floors and has received multiple renovations, featuring refinished hardwood floors, fresh paint, new carpeting, and a brand-new kitchen with recessed lights, granite countertops and tile backsplash. Offering 6 bedrooms and 3 full baths, this expansive unit is perfect for extended living or strong rental income potential. Additional features include multiple decorative fireplaces, a den, two private exterior porches, and central air conditioning. Recent property improvements include updated electrical service and two newer boilers (2022 & 2025). Exterior highlights include a new roof in 2019, fully fenced yard with stamped concrete patio, a 1-car garage, and ample off-street parking. It is located in one of Buffalo’s most desirable neighborhoods.

    Local Financial Insights For Multifamily LT 5

    Simulate Cap Rate and NOI

    NOI Build-Up
    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.

    Component $ $/SF
    Gross rent $61.1k $15.00
    − Vacancy −$3.4k −$0.83
    EGI $57.7k $14.17
    − OpEx −$17.3k −$4.25
    NOI $40.4k $9.92
    4,070 SF · lease $15.00/SF/yr · vacancy 5.50% · expense 30.00%

    Alternative Uses

    Best Use
    Multifamily LT 5
    $576.9K
    $504.8K – $673.1K (±1% cap)
    NOI $40,385 @ 7.0% cap · market cap 5.39%
    Second Best
    Apartment 5plus
    $531.4K
    $465.0K – $620.0K (±1% cap)
    NOI $37,197 @ 7.0% cap · market cap 4.96%
    Theoretical Best
    Office A
    $978.8K
    $856.4K – $1.14M (±1% cap)
    NOI $68,513 @ 7.0% cap · market cap 9.14%
    Zoning and permitted uses should be independently verified with local authorities.
    Location Intelligence

    Current Use by Public Records

    Duplexes

    Suggested Use

    Real Estate Agency Law Firm Restaurant Spa & Massage Center Dental Office Hair Salon Nail Salon Building Supply Gym & Fitness Center Daycare Center

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Buffalo
    County
    Erie
    State
    New York
    Longitude
    -78.8746754
    Latitude
    42.9087355

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    FAQs

    What type of property is this?
    Duplex - Impressive, updated 2-family home with separate utilities and modern amenities.
    Where is this duplex located?
    The property is located at 143 Oakland Place Buffalo, NY.
    What is the asking price?
    The asking price for this property is $749,900.
    What are key features of this property?
    This property features: Two‑family residence with over 4,000 sq ft, ideal for owner‑occupancy or investment with separate utilities.; Upper unit: **6 bedrooms, 3 full baths, renovated kitchen with granite countertops, and central air conditioning.**; Recent updates: New roof (2019), updated electrical service, and two newer boilers (2022 & 2025).
    (716) 603-0200
    We can help!
    Listing Contact
    Robert Meredith
    Robert Meredith
    Real Estate License ID: 10311200417
    Learn More
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
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