Renovated Triplex with Private
For Sale
$564,999
22 Anderson Place, Buffalo, NY 14222
Renovated units offer updated kitchens, private laundry, separate utility metering, and keyless entry throughout.
Property Size3,623 SF
Days on Market9
Property Features for 22 Anderson Place
General Information
Standard status
Active
Size
3,623 SF
Total Parking Spaces
1
Property subtype
Multi Family
Occupancy
100%
Additional Details
Gross Income
$50,100
Utilities to Site
Yes
Multifamily Units
3
Taxes and HOA fees
Annual Taxes
$5,463
Amenities
stainless appliances
in-unit washer/dryers
keyless entry
high-efficiency furnaces
private fenced-in backyard
large attic with significant storage space
EV charging port
Building Details
Building Size
3,623 SF
Year Built
1900
Listing Agency:
716 Realty Group WNY LLC
(716) 553-8448
Listed By:
Brandon Iacona · License #10401322048
(716) 553-8448
Source:
Highfallssir
Added: Aug 23
Changed: Aug 30
Last Checked: Aug 31 at 12:26AM
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 716 Realty Group WNY LLC
Investment Insights
Based on property information with market context.
This 3-unit residential income property was built in 1900 and has renovated kitchens and bathrooms, stainless appliances, and in-unit washer/dryers in each residence. Separate utility metering, keyless access at every entrance, and high-efficiency furnaces support straightforward daily management. The property also includes a fenced backyard, a large attic for storage, and a driveway with one parking space equipped with an EV charging port.
All three units are leased under current agreements. The property is located at 22 Anderson Place in Buffalo’s Elmwood Village, within walking distance of Elmwood Avenue restaurants, bars, shopping, and the Five Points neighborhood.
All three units are leased under current agreements. The property is located at 22 Anderson Place in Buffalo’s Elmwood Village, within walking distance of Elmwood Avenue restaurants, bars, shopping, and the Five Points neighborhood.
Key Highlights
- 3‑unit property at 22 Anderson Place in Buffalo’s Elmwood Village
- All three units renovated with updated kitchens and bathrooms
- In‑unit washer/dryers and stainless appliances in each unit
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
$35,949
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
6.36%
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%
$718,980
$719.0K
Cap Rate 7%
$513,557
$513.6K
Cap Rate 9%
$399,433
$399.4K
Market Conditions
NOI Build-Up for 3,623 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
$54.3K $15.00/SF
− Vacancy
−$3.0K −$0.83/SF
EGI
$51.4K $14.17/SF
− OpEx
−$15.4K −$4.25/SF
NOI
$35.9K $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%
$718,980
Cap Rate 7%
$513,557
Cap Rate 9%
$399,433
Alternative Uses
Best Use
Multifamily LT 5
$513.6K
$449.4K – $599.2K
NOI $35,949 @ 7.0% cap · market cap 6.36%
Second Best
Apartment 5plus
$473.0K
$413.9K – $551.9K
NOI $33,112 @ 7.0% cap · market cap 5.86%
Theoretical Best
Office A
$871.3K
$762.4K – $1.02M
NOI $60,988 @ 7.0% cap · market cap 10.79%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
3
Residential units
100%
Occupancy
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
1,818
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 - Renovated units offer updated kitchens, private laundry, separate utility metering, and keyless entry throughout.
Where is this triplex located?
The property is located at 22 Anderson Place Buffalo, NY.
What is the asking price?
The asking price for this property is $564,999.
What are key features of this property?
This property features: 3‑unit property at 22 Anderson Place in Buffalo’s Elmwood Village; All three units renovated with updated kitchens and bathrooms; In‑unit washer/dryers and stainless appliances in each unit
