Brick Four-Unit Apartment
For Sale
$549,000
Pending
425 Joe Mccarthy Drive, Buffalo, NY 14228
Residential, Buffalo, NY
Property Size5,034 SF
Lot Size0.29 Acres
Days on Market59
Property Features for 425 Joe Mccarthy Drive
General Information
Property type
Residential Multi Family
Property subtype
Other
Bedrooms
8
Bathrooms
4
Full bathrooms
4
Rooms
Basement, Bathroom 3, Bedroom 3, Bedroom 2, Bedroom 6, Bedroom 5, Bathroom 2, Bedroom 7, Bathroom 1, Bedroom 8, Bedroom 4, Bathroom 4, Bedroom 1
Interior features
Storage, ProgrammableThermostat
Appliances
GasWaterHeater
Lot features
Near Public Transit, Rectangular, Rectangular Lot, Residential Lot
Elementary school district
Sweet Home
Middle school district
Sweet Home
High school district
Sweet Home
Directions
Niagara Falls Blvd to willow ridge, first left is Joe McCarthy sign on lawn
Subdivision
Amherst-142289
Standard status
Pending
APN
142289-040-140-0008-006-000
Size
5,034 SF
Lot size
0.29 Acres
Taxes and HOA fees
Tax Annual Amount
11754
Utilities
Heating system
Zoned, Baseboard, Natural Gas
Cooling system
Zoned
Water source
Public
Amenities
appliances
extra parking area
shady back yard
basement storage
laundry hookups
Building Details
Year built
1962
Floors in Building
2
Number of units
4
Flooring type
Varies, Vinyl, Tile, Laminate
Building materials
Brick, CopperPlumbing
Roof type
Shingle, Asphalt
Architectural style
Other
Additional Structures
Storage
Listing Agency:
WNY Metro Roberts Realty
(716) 559-9972
Listed By:
Gina R DuBois · License #10401203791
(716) 578-4386
Added: Jun 23
Changed: Aug 20
Last Checked: Aug 20 at 7:06AM
MLS# B1688572
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 1962 brick quadplex contains 5,034 square feet on a 0.29-acre lot. The property includes four apartment units, with two updated units, varied flooring that includes vinyl, tile, and laminate, and bathrooms equipped with showers and bathtubs. Appliances are included, and the basement provides storage space and laundry hookups. Five electric meters serve the building, which uses natural gas baseboard heat and zoned cooling. A gas water heater, copper plumbing, public water, and an asphalt shingle roof are also in place.
The property offers an extra parking area and a shaded backyard. It is located within walking distance of stores and a bus stop, with shopping along Niagara Falls Blvd nearby. Route 290 is approximately 5 minutes away, while the UB campus is approximately 10 minutes away. One unit is vacant for owner use or rental.
The property offers an extra parking area and a shaded backyard. It is located within walking distance of stores and a bus stop, with shopping along Niagara Falls Blvd nearby. Route 290 is approximately 5 minutes away, while the UB campus is approximately 10 minutes away. One unit is vacant for owner use or rental.
Key Highlights
- Four‑unit brick apartment building with 5,034 square feet
- 0.29‑acre lot with extra parking area and shaded backyard
- Two units have been updated; flooring includes vinyl, tile, and laminate
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
$49,950
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
9.10%
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%
$999,000
$999.0K
Cap Rate 7%
$713,571
$713.6K
Cap Rate 9%
$555,000
$555.0K
Market Conditions
NOI Build-Up for 5,034 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
$75.5K $15.00/SF
− Vacancy
−$4.2K −$0.83/SF
EGI
$71.4K $14.17/SF
− OpEx
−$21.4K −$4.25/SF
NOI
$49.9K $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%
$999,000
Cap Rate 7%
$713,571
Cap Rate 9%
$555,000
Alternative Uses
Best Use
Multifamily LT 5
$713.6K
$624.4K – $832.5K
NOI $49,950 @ 7.0% cap · market cap 9.10%
Second Best
Apartment 5plus
$657.2K
$575.1K – $766.8K
NOI $46,007 @ 7.0% cap · market cap 8.38%
Theoretical Best
Office A
$1.21M
$1.06M – $1.41M
NOI $84,740 @ 7.0% cap · market cap 15.44%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
4
Residential units
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
377
Businesses Nearby
Explore this area
Business Placement
Demographics for 14228, NY
23,945
Population
10,601
Households
2.3
Avg Household Size
32
Median Age
49%
College-Educated
92%
High-School Grad
15.9 sq mi
ZIP Area
1,506
Density / Sq Mi
$72,426
Median Household Income
$40,958
Median Earnings
$1,264
Median Rent
$246,100
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?
Quadplex - Income property with basement storage, laundry hookups, parking, and one vacant unit.
Where is this quadplex located?
The property is located at 425 Joe Mccarthy Drive Buffalo, NY.
What is the asking price?
The asking price for this property is $549,000.
What are key features of this property?
This property features: Four‑unit brick apartment building with 5,034 square feet; 0.29‑acre lot with extra parking area and shaded backyard; Two units have been updated; flooring includes vinyl, tile, and laminate
