4-Unit Quadplex with
New
For Sale
$519,900
242 North Park Avenue, Buffalo, NY 14216
Each residence has one bedroom, a porch or sunroom, and a dishwasher; kitchen appliances are included.
Property Size4,327 SF
Days on Market5
Property Features for 242 North Park Avenue
General Information
Standard status
Active
Size
4,327 SF
Property subtype
Multi Family
Site & Location
Neighborhood
North Park
Units
Unit Mix
4 x 1BR
Multifamily Units
4
Taxes and HOA fees
Annual Taxes
$5,496
Amenities
outdoor porches
sunroom
coin-op washer and dryer
Building Details
Building Size
4,327 SF
Year Built
1930
Listing Agency:
Rhoades Real Estate
Listed By:
James T Rhoades · License #10311204457
(716) 830-8085
Source:
Highfallssir
Added: Oct 20
Changed: Oct 23
Last Checked: Oct 23 at 6:06PM
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 Rhoades Real Estate
Ask AI about this property
Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
Built in 1930, this Buffalo quadplex contains four one-bedroom residences. Each unit has a porch or sunroom, hardwood flooring, tiled kitchen and bathroom surfaces, and a dishwasher. Stoves and refrigerators are included with the sale.
The building was taken down to the studs and renovated with new electrical, insulation, windows, and drywall. A coin-operated washer and dryer are located in the basement.
The building was taken down to the studs and renovated with new electrical, insulation, windows, and drywall. A coin-operated washer and dryer are located in the basement.
Key Highlights
- Four one‑bedroom units
- Porch or sunroom with each unit
- Hardwood floors and tiled kitchens and bathrooms
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$42,935
Cap Rate
8.26%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$858,700
$858.7K
Cap Rate 7%
$613,357
$613.4K
Cap Rate 9%
$477,056
$477.1K
Market Conditions
NOI Build-Up for 4,327 SF
Gross rent
$64.9K $15.00/SF
− Vacancy
−$3.6K −$0.83/SF
EGI
$61.3K $14.17/SF
− OpEx
−$18.4K −$4.25/SF
NOI
$42.9K $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 Rate 5%
$858,700
Cap Rate 7%
$613,357
Cap Rate 9%
$477,056
Alternative Uses
Best Use
Multifamily LT 5
$613.4K
$536.7K – $715.6K
NOI $42,935 @ 7.0% cap · market cap 8.26%
Second Best
Apartment 5plus
$564.9K
$494.3K – $659.1K
NOI $39,546 @ 7.0% cap · market cap 7.61%
Theoretical Best
Office A
$1.04M
$910.5K – $1.21M
NOI $72,839 @ 7.0% cap · market cap 14.01%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Who owns this building?
See the owner, sales and loan history
Open Analytics
Lease Details
4
Residential units
Location Intelligence
Trade Area within ½ mile
920
Businesses Nearby
Explore this area
Business Placement
Demographics for 14216, NY
22,979
Population
12,773
Households
1.8
Avg Household Size
37
Median Age
54%
College-Educated
94%
High-School Grad
2.8 sq mi
ZIP Area
8,207
Density / Sq Mi
$70,260
Median Household Income
$47,823
Median Earnings
$1,152
Median Rent
$260,700
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Multifamily in Northeast region
Frequently Asked Questions
What type of property is this?
Quadplex - Each residence has one bedroom, a porch or sunroom, and a dishwasher; kitchen appliances are included.
Where is this quadplex located?
The property is located at 242 North Park Avenue Buffalo, NY.
What is the asking price?
The asking price for this property is $519,900.
What are key features of this property?
This property features: Four one‑bedroom units; Porch or sunroom with each unit; Hardwood floors and tiled kitchens and bathrooms
