Multifamily Property with 4-Car
For Sale
$240,000
Pending
37 Tioga St, Buffalo, NY 14216
Multi-unit property with a fenced yard, concrete driveway, and substantial garage capacity.
Property Size2,356 SF
Days on Market685
Property Features for 37 Tioga St
General Information
Standard status
Pending
Size
2,356 SF
Total Parking Spaces
4
Property subtype
Multi-Family
Property Condition
Severity
Repairs Needed
Evidence
needs some TLC
Additional Details
Public Transit
Yes
Taxes and HOA fees
Annual Taxes
$3,702
Amenities
Gas
Full
3
Hardwood, Other
Natural Woodwork
Asphalt
Other, Full
Fenced Yard.
4 Garage Spaces. Concrete Driveway.
Vinyl, Other
Rectangular
50X155
Other, City Road, Rectangular.
Building Details
Year Built
1860
Listing Agency:
WNY Metro Roberts Realty
(716) 875-2211
Listed By:
Emmanuel Williams · License #10301217766
(716) 430-2091
Source:
Xome
Added: Oct 21, 2024
Changed: Sep 2
Last Checked: Sep 5 at 5:52AM
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 WNY Metro Roberts Realty
Investment Insights
Based on property information with market context.
This 2,356-square-foot multifamily property contains multiple units and includes a four-car garage, providing substantial enclosed space for parking, storage, or other property-related needs. The building dates to 1860 and features hardwood and natural woodwork details. A full basement and gas service are also noted. The property requires some updating, offering a clear opportunity to improve the existing improvements while retaining the building’s established character.
Located at 37 Tioga St in Buffalo’s North Buffalo area, the property is near restaurants, shopping, parks, and public transportation. The rectangular lot measures 50 by 155 feet and includes a fenced yard and concrete driveway. The exterior includes vinyl siding and asphalt surfaces.
Located at 37 Tioga St in Buffalo’s North Buffalo area, the property is near restaurants, shopping, parks, and public transportation. The rectangular lot measures 50 by 155 feet and includes a fenced yard and concrete driveway. The exterior includes vinyl siding and asphalt surfaces.
Key Highlights
- 2,356‑square‑foot multifamily property with multiple units
- Four‑car garage with 4 Garage Spaces
- Rectangular 50X155 lot with fenced yard
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
$21,532
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
8.97%
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%
$430,640
$430.6K
Cap Rate 7%
$307,600
$307.6K
Cap Rate 9%
$239,244
$239.2K
Market Conditions
NOI Build-Up for 2,356 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
$41.0K $17.40/SF
− Vacancy
−$1.8K −$0.78/SF
EGI
$39.1K $16.62/SF
− OpEx
−$17.6K −$7.48/SF
NOI
$21.5K $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%
$430,640
Cap Rate 7%
$307,600
Cap Rate 9%
$239,244
Alternative Uses
Best Use
Apartment 5plus
$307.6K
$269.2K – $358.9K
NOI $21,532 @ 7.0% cap · market cap 8.97%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$566.6K
$495.8K – $661.0K
NOI $39,660 @ 7.0% cap · market cap 16.53%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
944
Businesses Nearby
Explore this area
Business Placement
Demographics for 14216, NY
22,979
Population
12,773
Households
1.8
Avg Household Size
37
Median Age
54%
College-Educated
94%
High-School Grad
2.8 sq mi
ZIP Area
8,207
Density / Sq Mi
$70,260
Median Household Income
$47,823
Median Earnings
$1,152
Median Rent
$260,700
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?
Multifamily property - Multi-unit property with a fenced yard, concrete driveway, and substantial garage capacity.
Where is this multifamily property located?
The property is located at 37 Tioga St Buffalo, NY.
What is the asking price?
The asking price for this property is $240,000.
What are key features of this property?
This property features: 2,356‑square‑foot multifamily property with multiple units; Four‑car garage with 4 Garage Spaces; Rectangular 50X155 lot with fenced yard
