Multifamily Property with One-Bedroom
For Sale
$159,000
37 Allegany Street, Buffalo, NY 14220
Early-20th-century multifamily property with one-bedroom apartment layouts near South Buffalo amenities and transit.
Property Size1,232 SF
Days on Market22
Property Features for 37 Allegany Street
General Information
Standard status
Active
Size
1,232 SF
Property subtype
Multi Family
Additional Details
Public Transit
Yes
Taxes and HOA fees
Annual Taxes
$1,469
Building Details
Building Size
1,232 SF
Year Built
1928
Buildings
1
Listing Agency:
Blue Eagle Realty Corp.
Listed By:
Alan Findlay · License #10401299791
(716) 436-1296
Source:
Highfallssir
Added: Sep 15
Changed: Sep 27
Last Checked: Oct 5 at 9:39PM
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 Blue Eagle Realty Corp.
Investment Insights
Based on property information with market context.
Located at 37 Allegany Street in Buffalo’s Triangle neighborhood, this 1,232-square-foot multifamily property was built in 1928. The building contains apartment units configured with one bedroom each, offering straightforward residential layouts within an established South Buffalo setting.
The property is near neighborhood parks, local shops, amenities, and transit, with access to downtown Buffalo and major routes. Its location in the 14220 ZIP code places it among residential streets and surrounding single-family and multifamily housing.
The property is near neighborhood parks, local shops, amenities, and transit, with access to downtown Buffalo and major routes. Its location in the 14220 ZIP code places it among residential streets and surrounding single-family and multifamily housing.
Key Highlights
- 1,232‑square‑foot multifamily property
- Built in 1928
- Apartment units configured as 1‑bedroom rentals
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$11,260
Cap Rate
7.08%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$225,200
$225.2K
Cap Rate 7%
$160,857
$160.9K
Cap Rate 9%
$125,111
$125.1K
Market Conditions
NOI Build-Up for 1,232 SF
Gross rent
$21.4K $17.40/SF
− Vacancy
−$965 −$0.78/SF
EGI
$20.5K $16.62/SF
− OpEx
−$9.2K −$7.48/SF
NOI
$11.3K $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 Rate 5%
$225,200
Cap Rate 7%
$160,857
Cap Rate 9%
$125,111
Alternative Uses
Best Use
Apartment 5plus
$160.9K
$140.8K – $187.7K
NOI $11,260 @ 7.0% cap · market cap 7.08%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$296.3K
$259.2K – $345.7K
NOI $20,739 @ 7.0% cap · market cap 13.04%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
486
Businesses Nearby
Explore this area
Business Placement
Demographics for 14220, NY
23,959
Population
11,286
Households
2.1
Avg Household Size
38
Median Age
28%
College-Educated
93%
High-School Grad
3.8 sq mi
ZIP Area
6,305
Density / Sq Mi
$68,337
Median Household Income
$42,112
Median Earnings
$974
Median Rent
$180,200
Median Home Value
Check the figures for this property
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?
Multifamily property - Early-20th-century multifamily property with one-bedroom apartment layouts near South Buffalo amenities and transit.
Where is this multifamily property located?
The property is located at 37 Allegany Street Buffalo, NY.
What is the asking price?
The asking price for this property is $159,000.
What are key features of this property?
This property features: 1,232‑square‑foot multifamily property; Built in 1928; Apartment units configured as 1‑bedroom rentals
