Renovated Triplex with Rear
For Sale
$334,000
256 Breckenridge Street, Buffalo, NY 14213
Three-unit residential property with updated systems, off-street parking, and a partially fenced backyard.
Property Size3,285 SF
Days on Market10
Property Features for 256 Breckenridge Street
General Information
Standard status
Active
Size
3,285 SF
Property subtype
Multi Family
Additional Details
Multifamily Units
3
Taxes and HOA fees
Annual Taxes
$2,474
Building Details
Building Size
3,285 SF
Year Built
1900
Buildings
2
Listing Agency:
HUNT Real Estate ERA
Listed By:
Timothy Ranallo · License #40RA0947411
(716) 400-4295
Source:
Highfallssir
Added: Sep 18
Changed: Sep 27
Last Checked: Sep 26 at 2:37PM
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 HUNT Real Estate ERA
Investment Insights
Based on property information with market context.
This triplex property includes a two-family front house and a separate rear rental house with three bedrooms. The renovated upper front unit has a new bathroom, fresh paint, new carpet, vinyl flooring, and vinyl windows. The front building also includes updated heating units, updated circuit panels, upper and lower porches, and a tear-off roof completed in 2022.
The rear house provides a spacious first floor with a kitchen and utility/laundry area, along with three bedrooms and a full bathroom upstairs. Off-street parking and a partially fenced backyard serve the property. Built in 1900, the configuration supports the owner-occupant or investor use identified for the property, with access to commercial amenities, dining, and shopping.
The rear house provides a spacious first floor with a kitchen and utility/laundry area, along with three bedrooms and a full bathroom upstairs. Off-street parking and a partially fenced backyard serve the property. Built in 1900, the configuration supports the owner-occupant or investor use identified for the property, with access to commercial amenities, dining, and shopping.
Key Highlights
- Three‑unit configuration with a two‑family front house and separate rear house
- Upper front unit fully renovated with new bathroom, flooring, paint, and vinyl windows
- Front building has updated heating units and circuit panels
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
$30,023
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
8.99%
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%
$600,460
$600.5K
Cap Rate 7%
$428,900
$428.9K
Cap Rate 9%
$333,589
$333.6K
Market Conditions
NOI Build-Up for 3,285 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
$57.2K $17.40/SF
− Vacancy
−$2.6K −$0.78/SF
EGI
$54.6K $16.62/SF
− OpEx
−$24.6K −$7.48/SF
NOI
$30.0K $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%
$600,460
Cap Rate 7%
$428,900
Cap Rate 9%
$333,589
Alternative Uses
Best Use
Multifamily LT 5
$465.6K
$407.4K – $543.3K
NOI $32,595 @ 7.0% cap · market cap 9.76%
Second Best
Apartment 5plus
$428.9K
$375.3K – $500.4K
NOI $30,023 @ 7.0% cap · market cap 8.99%
Theoretical Best
Office A
$790.0K
$691.2K – $921.6K
NOI $55,298 @ 7.0% cap · market cap 16.56%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Lease Details
3
Residential units
Location Intelligence
Trade Area within ½ mile
1,121
Businesses Nearby
Explore this area
Business Placement
Demographics for 14213, NY
25,834
Population
11,397
Households
2.3
Avg Household Size
30
Median Age
36%
College-Educated
81%
High-School Grad
1.9 sq mi
ZIP Area
13,597
Density / Sq Mi
$52,597
Median Household Income
$36,084
Median Earnings
$1,059
Median Rent
$192,300
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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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?
Triplex - Three-unit residential property with updated systems, off-street parking, and a partially fenced backyard.
Where is this triplex located?
The property is located at 256 Breckenridge Street Buffalo, NY.
What is the asking price?
The asking price for this property is $334,000.
What are key features of this property?
This property features: Three‑unit configuration with a two‑family front house and separate rear house; Upper front unit fully renovated with new bathroom, flooring, paint, and vinyl windows; Front building has updated heating units and circuit panels
