Brick Duplex with Detached
For Sale
$319,900
288 Meadowlawn Road, Buffalo, NY 14225
Well-maintained two-unit property with updated interiors, private living areas, and landscaped outdoor space.
Property Size2,080 SF
Days on Market59
Property Features for 288 Meadowlawn Road
General Information
Standard status
Active
Size
2,080 SF
Total Parking Spaces
9
Property subtype
Multi Family Home
Taxes and HOA fees
Annual Taxes
$7,894
Amenities
common laundry room
ceiling fans
eat-in kitchens
pantries
updated baths
large closets
Low-E windows
tankless boiler system
hydraulic backup sump system
partially fenced yard
paver patio
mature gardens
Building Details
Building Size
2,080 SF
Year Built
1962
Buildings
1
Stories
2
Units
2
Construction
brick
Tenancy
Multi
Listing Agency:
Keller Williams Realty WNY
(716) 908-4304
Listed By:
John Santora III · License #10401291249
(716) 908-4304
Source:
Northstarwny
Added: Jun 18
Changed: Aug 10
Last Checked: Aug 14 at 2:10PM
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.
Built in 1962, this brick-front duplex contains two apartments: a lower-level two-bedroom, one-bath unit and an upper-level three-bedroom, one-bath unit. Both residences feature functional living areas, eat-in kitchens with pantries, spacious bedrooms, large closets, ceiling fans, and renovated bathrooms. Flooring improvements include updated surfaces throughout, with the upper unit’s flooring, stairs, and landing completed in 2021 and the lower unit’s flooring replaced in 2023. Bathroom renovations were completed in both apartments in 2021.
The property also includes Low-E windows, a tankless boiler system, a common laundry room, and a hydraulic backup sump system installed in 22/23. Exterior improvements include a detached two-car garage with separate doors and openers for each apartment, a concrete driveway accommodating up to seven vehicles, a partially fenced backyard, paver patio, mature gardens, and additional outdoor space. The roof is a complete tear-off architectural system installed in 2006. Located at 288 Meadowlawn Road in Buffalo, NY.
The property also includes Low-E windows, a tankless boiler system, a common laundry room, and a hydraulic backup sump system installed in 22/23. Exterior improvements include a detached two-car garage with separate doors and openers for each apartment, a concrete driveway accommodating up to seven vehicles, a partially fenced backyard, paver patio, mature gardens, and additional outdoor space. The roof is a complete tear-off architectural system installed in 2006. Located at 288 Meadowlawn Road in Buffalo, NY.
Key Highlights
- Two apartments: 2 Bed 1 Bath lower unit and 3 Bed 1 Bath upper unit
- 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
6.45%
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 6.45%
Second Best
Apartment 5plus
$271.6K
$237.6K – $316.8K
NOI $19,010 @ 7.0% cap · market cap 5.94%
Theoretical Best
Office A
$500.2K
$437.7K – $583.6K
NOI $35,014 @ 7.0% cap · market cap 10.95%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Multi-tenant
Tenancy
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 - Well-maintained two-unit property with updated interiors, private living areas, and landscaped outdoor space.
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 $319,900.
What are key features of this property?
This property features: Two apartments: 2 Bed 1 Bath lower unit and 3 Bed 1 Bath upper unit; Detached two‑car garage with separate doors and openers for each apartment; Concrete driveway with parking for up to seven vehicles
