Updated Duplex with Two-Car
New
For Sale
$295,000
22 Briggs Avenue, Buffalo, NY 14207
Residential, Buffalo, NY
Property Size2,499 SF
Lot Size0.09 Acres
Price / SF$118.05
Days on Market4
Property Features for 22 Briggs Avenue
General Information
Property type
Residential Multi Family
Property subtype
Other
Bedrooms
6
Bathrooms
2
Full bathrooms
2
Rooms
Bedroom 5, Bathroom 2, Basement, Bedroom 6, Bedroom 1, Bedroom 4, Bedroom 2, Bathroom 1, Bedroom 3
Patio and Porch features
Porch
Interior features
CeilingFans, NaturalWoodwork
Appliances
GasWaterHeater
Lot features
Near Public Transit, Rectangular, Rectangular Lot, Residential Lot
Elementary school district
Buffalo
Middle school district
Buffalo
High school district
Buffalo
Subdivision
Buffalo City-140200
Standard status
Active
APN
140200-077-560-0003-060-000
Size
2,499 SF
Lot size
0.09 Acres
Taxes and HOA fees
Tax Annual Amount
2201
Utilities
Heating system
Natural Gas, Forced Air
Water source
Public
Building Details
Year built
1924
Floors in Building
2
Number of units
2
Flooring type
Varies, Hardwood, Vinyl
Building materials
Frame, Stone, VinylSiding
Architectural style
Other
Listing Agency:
WNYbyOwner.com
(716) 523-8508
Listed By:
Robyn Sansone · License #10491209960
(716) 523-8508
Added: Aug 25
Changed: Aug 26
Last Checked: Aug 28 at 8:06PM
MLS# B1709556
Copyright © 2026 New York State Alliance of MLSs, LLC. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This 2,499-square-foot duplex, built in 1924 on a 0.09-acre lot, contains two three-bedroom, one-bathroom units. Each residence includes living and dining areas, hardwood flooring, leaded glass windows, and natural woodwork. A full basement and attic provide additional storage, while the property also includes a wide driveway and a large two-car garage. Two new furnaces and a complete tear-off roof installed in 2024 add to the recent improvements.
The property has views of the Niagara River and is located near public transportation and a boat launch. Access to I-190 is available within minutes, connecting the property with surrounding Buffalo destinations. Public water service, forced-air heating, a gas water heater, and a front porch are also present.
The property has views of the Niagara River and is located near public transportation and a boat launch. Access to I-190 is available within minutes, connecting the property with surrounding Buffalo destinations. Public water service, forced-air heating, a gas water heater, and a front porch are also present.
Key Highlights
- Duplex with two 3‑bedroom, 1‑bathroom units
- 2,499 square feet on a 0.09‑acre lot
- Complete tear‑off roof completed in 2024
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
$24,796
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
8.41%
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%
$495,920
$495.9K
Cap Rate 7%
$354,229
$354.2K
Cap Rate 9%
$275,511
$275.5K
Market Conditions
NOI Build-Up for 2,499 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
$37.5K $15.00/SF
− Vacancy
−$2.1K −$0.83/SF
EGI
$35.4K $14.17/SF
− OpEx
−$10.6K −$4.25/SF
NOI
$24.8K $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%
$495,920
Cap Rate 7%
$354,229
Cap Rate 9%
$275,511
Alternative Uses
Best Use
Multifamily LT 5
$354.2K
$310.0K – $413.3K
NOI $24,796 @ 7.0% cap · market cap 8.41%
Second Best
Apartment 5plus
$326.3K
$285.5K – $380.7K
NOI $22,839 @ 7.0% cap · market cap 7.74%
Theoretical Best
Office A
$601.0K
$525.8K – $701.1K
NOI $42,067 @ 7.0% cap · market cap 14.26%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Yes
Highway access
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
477
Businesses Nearby
Explore this area
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
Market
Vacancy Rate% for Multifamily in Northeast region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Duplex - Two residential units feature hardwood floors, generous storage, natural-gas heating, and access to a wide driveway.
Where is this duplex located?
The property is located at 22 Briggs Avenue Buffalo, NY.
What is the asking price?
The asking price for this property is $295,000.
What are key features of this property?
This property features: Duplex with two 3‑bedroom, 1‑bathroom units; 2,499 square feet on a 0.09‑acre lot; Complete tear‑off roof completed in 2024
