Triplex with Four-Car
For Sale
$240,000
Pending
37 Tioga Street, Buffalo, NY 14216
Residential, Buffalo, NY
Property Size2,356 SF
Lot Size0.18 Acres
Days on Market411
Property Features for 37 Tioga Street
General Information
Property type
Residential Multi Family
Property subtype
Other
Bedrooms
5
Bathrooms
3
Full bathrooms
3
Rooms
Bedroom 5, Bedroom 1, Bathroom 1, Bathroom 2, Basement, Bathroom 3, Bedroom 3, Bedroom 4, Bedroom 2
Interior features
NaturalWoodwork
Exterior features
FullyFenced
Fencing
Fenced
Appliances
GasWaterHeater
Lot features
Near Public Transit, Rectangular, Rectangular Lot, Residential Lot
Elementary school district
Buffalo
Middle school district
Buffalo
High school district
Buffalo
Directions
Delaware Ave to Tioga St
Subdivision
Buffalo City-140200
Standard status
Pending
APN
140200-078-710-0002-034-000
Size
2,356 SF
Lot size
0.18 Acres
Taxes and HOA fees
Tax Annual Amount
3702
Utilities
Heating system
Natural Gas, Forced Air, Space Heater
Water source
Public
Building Details
Year built
1860
Floors in Building
2
Number of units
3
Flooring type
Varies, Hardwood
Building materials
VinylSiding
Roof type
Asphalt
Architectural style
Other
Listing Agency:
WNY Metro Roberts Realty
(716) 875-2211
Listed By:
Emmanuel Williams · License #10301217766
(716) 430-2091
Added: Jul 11, 2025
Changed: Aug 19
Last Checked: Aug 25 at 1:06AM
MLS# B1620279
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 triplex includes 2,356 square feet on a 0.1779-acre lot, with five bedrooms, three bathrooms, and a basement. Interior details include natural woodwork and hardwood flooring, while the exterior has vinyl siding, an asphalt roof, and fully fenced grounds. The property also includes a four-car garage that can support vehicle storage or additional rental use. Built in 1860, the building is served by public water and uses natural gas with forced-air and space-heater systems. Located in North Buffalo near restaurants, shopping, parks, and public transportation, the property requires some TLC and offers a three-unit residential configuration.
Key Highlights
- Three‑unit residential property with 2,356 square feet
- Four‑car garage for storage or additional rental use
- 0.1779‑acre lot with fully fenced grounds
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
Multifamily LT 5
$334.0K
$292.2K – $389.6K
NOI $23,377 @ 7.0% cap · market cap 9.74%
Second Best
Apartment 5plus
$307.6K
$269.2K – $358.9K
NOI $21,532 @ 7.0% cap · market cap 8.97%
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?
Triplex - Three-unit property with fenced grounds, natural woodwork, and hardwood flooring.
Where is this triplex located?
The property is located at 37 Tioga Street 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: Three‑unit residential property with 2,356 square feet; Four‑car garage for storage or additional rental use; 0.1779‑acre lot with fully fenced grounds
