Brick Duplex with Detached
For Sale
$319,900
288 Meadowlawn Road, Buffalo, NY 14225
Residential, Buffalo, NY
Property Size2,080 SF
Lot Size0.13 Acres
Price / SF$153.80
Days on Market79
Property Features for 288 Meadowlawn Road
General Information
Property type
Residential Multi Family
Property subtype
Other
Bedrooms
5
Bathrooms
2
Full bathrooms
2
Rooms
Basement, Bedroom 3, Bathroom 2, Bedroom 1, Bedroom 5, Bedroom 2, Bedroom 4, Bathroom 1
Parking features
Garage, Open
Exterior features
Fence
Fencing
Fenced
Appliances
GasWaterHeater
Lot features
Rectangular, Rectangular Lot, Residential Lot
Elementary school
Pine Hill Primary Center
Middle school
Cheektowaga Middle
High school
Cheektowaga High
Elementary school district
Cheektowaga
Middle school district
Cheektowaga
High school district
Cheektowaga
Subdivision
Cheektowaga-143089
Standard status
Active
APN
143089-092-180-0007-047-000
Size
2,080 SF
Lot size
0.13 Acres
Taxes and HOA fees
Tax Annual Amount
7894
Utilities
Heating system
Hot Water(Heating), Natural Gas
Water source
Public
Amenities
common laundry room
paver patio
mature gardens
partially fenced yard
Building Details
Year built
1962
Floors in Building
2
Number of units
2
Flooring type
Resilient, Varies, Vinyl, Tile, Hardwood
Building materials
Brick
Architectural style
Other
Listing Agency:
Keller Williams Realty WNY
(716) 832-3300
Listed By:
John Santora III · License #10401291249
(716) 908-4304
Added: Jun 18
Changed: Sep 4
Last Checked: Sep 4 at 8:06AM
MLS# B1691735
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.
This 2,080-square-foot duplex, built in 1962, contains two distinct apartments: a lower two-bedroom, one-bath unit and an upper three-bedroom, one-bath unit. Both residences include living areas, eat-in kitchens with pantries, generous closets, updated bathrooms, and separate living spaces. Flooring improvements were completed in the upper apartment in 2021 and the lower apartment in 2023, while both bathrooms were renovated in 2021. Low-E windows and an upgraded tankless boiler system provide natural-gas heat and on-demand hot water.
The 0.13-acre property includes a detached two-car garage with separate doors and openers serving each apartment, plus a concrete driveway accommodating up to seven vehicles. Exterior features include a partially fenced backyard, paver patio, mature gardens, and professional landscaping. Additional improvements include a hydraulic backup sump system installed in 22/23, a 2006 architectural roof, and a common laundry room.
The 0.13-acre property includes a detached two-car garage with separate doors and openers serving each apartment, plus a concrete driveway accommodating up to seven vehicles. Exterior features include a partially fenced backyard, paver patio, mature gardens, and professional landscaping. Additional improvements include a hydraulic backup sump system installed in 22/23, a 2006 architectural roof, and a common laundry room.
Key Highlights
- 2,080 SF duplex with 2 apartments: lower 2‑bedroom/1‑bath and upper 3‑bedroom/1‑bath
- Detached 2‑car garage with separate doors and openers for each apartment
- Concrete driveway with parking for up to 7 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
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 - Two separate apartments offer updated interiors, private living areas, and shared laundry and outdoor amenities.
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: 2,080 SF duplex with 2 apartments: lower 2‑bedroom/1‑bath and upper 3‑bedroom/1‑bath; Detached 2‑car garage with separate doors and openers for each apartment; Concrete driveway with parking for up to 7 vehicles
