Brick Duplex with Two-Car
For Sale
$334,900
288 Meadowlawn Road, Buffalo, NY 14225
Updated two-unit property with separate living spaces, garage parking, outdoor areas, and efficient heating and hot water systems.
Property Size2,080 SF
Days on Market59
Property Features for 288 Meadowlawn Road
General Information
Standard status
Active
Size
2,080 SF
Property subtype
Multi Family Home
Units
Unit Mix
1 x 2BR/1BA, 1 x 3BR/1BA
Multifamily Units
2
Taxes and HOA fees
Annual Taxes
$7,894
Amenities
common laundry room
paver patio
partially fenced yard
Building Details
Building Size
2,080 SF
Year Built
1962
Buildings
1
Stories
2
Units
2
Listing Agency:
Keller Williams Realty WNY
(716) 908-4304
Listed By:
John Santora III · License #10401291249
(716) 908-4304
Source:
Homeprocny
Added: Jun 18
Changed: Aug 7
Last Checked: Aug 7 at 5:19AM
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 Keller Williams Realty WNY
Investment Insights
Based on property information with market context.
This brick-front duplex, built in 1962, contains two separate apartments: a lower-level two-bedroom, one-bath unit and an upper-level three-bedroom, one-bath unit. Both residences offer living areas, large closets, ceiling fans, eat-in kitchens with pantries, and updated bathrooms. Flooring improvements include laminate in living rooms, kitchens, and hallways, with carpeting in the bedrooms. The upper unit’s flooring, stairs, and landing were updated in 2021, while the lower unit received new flooring in 2023. Both bathrooms were renovated in 2021.
The property includes a detached two-car garage with separate doors and openers for each apartment, plus a concrete driveway accommodating up to seven vehicles. Exterior amenities include a partially fenced backyard, paver patio, mature gardens, and landscaped grounds. Additional features include a common laundry room, Low-E windows, a tankless boiler system, hydraulic backup sump equipment installed in 22/23, and an architectural roof replacement completed in 2006. The property is located at 288 Meadowlawn Road in Buffalo, New York.
The property includes a detached two-car garage with separate doors and openers for each apartment, plus a concrete driveway accommodating up to seven vehicles. Exterior amenities include a partially fenced backyard, paver patio, mature gardens, and landscaped grounds. Additional features include a common laundry room, Low-E windows, a tankless boiler system, hydraulic backup sump equipment installed in 22/23, and an architectural roof replacement completed in 2006. The property is located at 288 Meadowlawn Road in Buffalo, New York.
Key Highlights
- Two apartments: lower 2 Bed 1 Bath and upper 3 Bed 1 Bath
- Detached two‑car garage with separate doors and openers for each apartment
- Concrete driveway with parking for up to seven vehicles
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
$20,639
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
6.16%
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%
$412,780
$412.8K
Cap Rate 7%
$294,843
$294.8K
Cap Rate 9%
$229,322
$229.3K
Market Conditions
NOI Build-Up for 2,080 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
$31.2K $15.00/SF
− Vacancy
−$1.7K −$0.83/SF
EGI
$29.5K $14.17/SF
− OpEx
−$8.8K −$4.25/SF
NOI
$20.6K $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%
$412,780
Cap Rate 7%
$294,843
Cap Rate 9%
$229,322
Alternative Uses
Best Use
Multifamily LT 5
$294.8K
$258.0K – $344.0K
NOI $20,639 @ 7.0% cap · market cap 6.16%
Second Best
Apartment 5plus
$271.6K
$237.6K – $316.8K
NOI $19,010 @ 7.0% cap · market cap 5.68%
Theoretical Best
Office A
$500.2K
$437.7K – $583.6K
NOI $35,014 @ 7.0% cap · market cap 10.46%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
347
Businesses Nearby
Explore this area
Business Placement
Demographics for 14225, NY
34,066
Population
16,253
Households
2.1
Avg Household Size
41
Median Age
29%
College-Educated
93%
High-School Grad
11.5 sq mi
ZIP Area
2,962
Density / Sq Mi
$65,562
Median Household Income
$44,408
Median Earnings
$937
Median Rent
$154,500
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?
Duplex - Updated two-unit property with separate living spaces, garage parking, outdoor areas, and efficient heating and hot water systems.
Where is this duplex located?
The property is located at 288 Meadowlawn Road Buffalo, NY.
What is the asking price?
The asking price for this property is $334,900.
What are key features of this property?
This property features: Two apartments: lower 2 Bed 1 Bath and upper 3 Bed 1 Bath; Detached two‑car garage with separate doors and openers for each apartment; Concrete driveway with parking for up to seven vehicles
