7-Unit Apartment
New
For Sale
$1,100,000
282 Jersey Street, Buffalo, NY 14201
MultiFamily, Buffalo, NY
Property Size7,105 SF
Lot Size0.14 Acres
Price / SF$154.82
Days on Market4
Property Features for 282 Jersey Street
General Information
Property type
Residential Multi Family
Property subtype
Other
Bedrooms
6
Rooms
Bedroom 5, Bedroom 3, Basement, Bedroom 2, Bedroom 6, Bedroom 1, Bedroom 4
Exterior features
ConcreteDriveway
Appliances
Dishwasher, GasCooktop, GasWaterHeater, Refrigerator
Lot features
Corner Lot, Near Public Transit, Rectangular, Rectangular Lot, Residential Lot
Elementary school district
Buffalo
Middle school district
Buffalo
High school district
Buffalo
Directions
West Ave to Jersey St
Subdivision
Buffalo City-140200
Standard status
Active
APN
140200-099-760-0001-012-000
Size
7,105 SF
Lot size
0.14 Acres
Taxes and HOA fees
Tax Annual Amount
12761
Utilities
Heating system
Natural Gas, Forced Air
Cooling system
Central Air
Water source
Public
Amenities
in-unit laundry
Building Details
Year built
1890
Floors in Building
3
Number of units
7
Flooring type
Varies, Tile, Hardwood
Building materials
BlownInInsulation, Brick, Frame
Roof type
Asphalt
Listing Agency:
WNY Metro Roberts Realty
(716) 891-1710
Listed By:
David M Witczak · License #40WI1033093
(716) 602-9708
Added: Sep 28
Changed: Sep 29
Last Checked: Oct 1 at 4:06PM
MLS# B1717119
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.
At 282 Jersey Street in Buffalo, this 7,105-square-foot apartment property contains seven occupied units: two two-bedroom apartments, four one-bedroom apartments, and a studio. Individual apartments range from approximately 677 to 997 square feet. A two-bay garage is also part of the property and is rented separately. Interior finishes include hardwood and tile flooring, granite countertops, and in-unit laundry; the building underwent a full remodel around 2015–2016.
The property sits on a 0.1446-acre lot in Buffalo’s West Side / Front Park neighborhood. Front Park, D'Youville, and the lower West Side are within walking distance.
The property sits on a 0.1446-acre lot in Buffalo’s West Side / Front Park neighborhood. Front Park, D'Youville, and the lower West Side are within walking distance.
Key Highlights
- Seven occupied apartments: two 2‑bedroom units, four 1‑bedroom units, and one studio
- Two‑bay garage rented separately
- 7,105‑square‑foot building on 0.1446 acres
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
$64,935
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
5.90%
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%
$1,298,700
$1.3M
Cap Rate 7%
$927,643
$927.6K
Cap Rate 9%
$721,500
$721.5K
Market Conditions
NOI Build-Up for 7,105 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
$123.6K $17.40/SF
− Vacancy
−$5.6K −$0.78/SF
EGI
$118.1K $16.62/SF
− OpEx
−$53.1K −$7.48/SF
NOI
$64.9K $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%
$1,298,700
Cap Rate 7%
$927,643
Cap Rate 9%
$721,500
Alternative Uses
Best Use
Apartment 5plus
$927.6K
$811.7K – $1.08M
NOI $64,935 @ 7.0% cap · market cap 5.90%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.71M
$1.50M – $1.99M
NOI $119,603 @ 7.0% cap · market cap 10.87%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Lease Details
7
Residential units
100%
Occupancy
Location Intelligence
Trade Area within ½ mile
1,477
Businesses Nearby
Explore this area
Business Placement
Demographics for 14201, NY
12,364
Population
7,172
Households
1.7
Avg Household Size
33
Median Age
39%
College-Educated
84%
High-School Grad
1.1 sq mi
ZIP Area
11,240
Density / Sq Mi
$34,204
Median Household Income
$34,081
Median Earnings
$953
Median Rent
$327,900
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
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Frequently Asked Questions
What type of property is this?
Apartment building - Occupied apartments are complemented by a two-bay garage leased separately.
Where is this apartment building located?
The property is located at 282 Jersey Street Buffalo, NY.
What is the asking price?
The asking price for this property is $1,100,000.
What are key features of this property?
This property features: Seven occupied apartments: two 2‑bedroom units, four 1‑bedroom units, and one studio; Two‑bay garage rented separately; 7,105‑square‑foot building on 0.1446 acres
