Updated 6-Unit Apartment
For Sale
$650,000
189 Huntington Ave, Buffalo, NY 14214
Six one-bedroom apartments include refrigerators and stoves, with heat and other utilities included.
Property Size4,967 SF
Price / SF$130.86
Days on Market8
Property Features for 189 Huntington Ave
General Information
Standard status
Active
Size
4,967 SF
Property subtype
Residential Income
Units
Unit Mix
6 x 1BR/1BA
Multifamily Units
6
Taxes and HOA fees
Annual Taxes
$7,509
Building Details
Buildings
1
Listing Agency:
WNY Metro Roberts Realty
Listed By:
David M Witczak · License #40WI1033093
(716) 891-1710
Source:
Exprealty
Added: Sep 28
Changed: Oct 2
Last Checked: Oct 4 at 4:19PM
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 WNY Metro Roberts Realty
Investment Insights
Based on property information with market context.
At 189 Huntington Avenue, this apartment building contains six one-bedroom, one-bath units ranging from approximately 525 to 725 square feet. Refrigerators and stoves are provided in each apartment, and heat and other utilities are included. The building totals 4,967 square feet.
Recent work includes exterior painting in 2020, a newer roof, vinyl replacement windows, glass-block basement windows, and updated electrical service and circuit breakers. Interior improvements include refinished hardwood floors, new tile, and renovated kitchens and bathrooms. Shops, restaurants, and parks along Hertel Avenue are nearby.
Recent work includes exterior painting in 2020, a newer roof, vinyl replacement windows, glass-block basement windows, and updated electrical service and circuit breakers. Interior improvements include refinished hardwood floors, new tile, and renovated kitchens and bathrooms. Shops, restaurants, and parks along Hertel Avenue are nearby.
Key Highlights
- Six apartments, each with one bedroom and one bathroom
- Unit sizes range from approximately 525 to 725 square feet
- Building contains 4,967 square feet
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
$45,395
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
6.98%
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%
$907,900
$907.9K
Cap Rate 7%
$648,500
$648.5K
Cap Rate 9%
$504,389
$504.4K
Market Conditions
NOI Build-Up for 4,967 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
$86.4K $17.40/SF
− Vacancy
−$3.9K −$0.78/SF
EGI
$82.5K $16.62/SF
− OpEx
−$37.1K −$7.48/SF
NOI
$45.4K $9.14/SF
Area
Buffalo, NY
Vacancy
4.50%
Lease Rate
$17.40 /SF/Yr
Expense Ratio
45.00%
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%
$907,900
Cap Rate 7%
$648,500
Cap Rate 9%
$504,389
Alternative Uses
Best Use
Apartment 5plus
$648.5K
$567.4K – $756.6K
NOI $45,395 @ 7.0% cap · market cap 6.98%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.19M
$1.05M – $1.39M
NOI $83,612 @ 7.0% cap · market cap 12.86%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Lease Details
6
Residential units
Location Intelligence
Trade Area within ½ mile
732
Businesses Nearby
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Business Placement
Demographics for 14214, NY
20,732
Population
9,280
Households
2.2
Avg Household Size
32
Median Age
46%
College-Educated
90%
High-School Grad
3.3 sq mi
ZIP Area
6,282
Density / Sq Mi
$56,573
Median Household Income
$29,928
Median Earnings
$1,072
Median Rent
$234,600
Median Home Value
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Market
Vacancy Rate% for Multifamily in Northeast region
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Frequently Asked Questions
What type of property is this?
Apartment building - Six one-bedroom apartments include refrigerators and stoves, with heat and other utilities included.
Where is this apartment building located?
The property is located at 189 Huntington Ave Buffalo, NY.
What is the asking price?
The asking price for this property is $650,000.
What are key features of this property?
This property features: Six apartments, each with one bedroom and one bathroom; Unit sizes range from approximately 525 to 725 square feet; Building contains 4,967 square feet
