Multifamily Property Near
New
For Sale
$235,000
441 Lisbon Avenue, Buffalo, NY 14215
Built in 1920 near the University at Buffalo, Bailey Avenue, shopping, dining, schools, and major highways.
Property Size2,142 SF
Days on Market4
Property Features for 441 Lisbon Avenue
General Information
Standard status
Active
Size
2,142 SF
Property subtype
Multi Family
Additional Details
Highway Access
Yes
Taxes and HOA fees
Annual Taxes
$1,686
Building Details
Building Size
2,142 SF
Year Built
1920
Listing Agency:
Red Door Real Estate WNY LLC
Listed By:
Elizabeth Dung · License #10401397694
(716) 907-5999
Source:
Highfallssir
Added: Sep 2
Changed: Sep 4
Last Checked: Sep 5 at 5:08AM
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 Red Door Real Estate WNY LLC
Investment Insights
Based on property information with market context.
This multifamily property at 441 Lisbon Avenue was built in 1920 and is positioned near the University at Buffalo. Its setting also places the property close to Bailey Avenue, shopping, restaurants, schools, and places of worship.
Major highway access provides connections throughout Western New York. The surrounding context includes both university-related and long-term residential rental demand, as described in the property information.
Major highway access provides connections throughout Western New York. The surrounding context includes both university-related and long-term residential rental demand, as described in the property information.
Key Highlights
- Built in 1920
- Near the University at Buffalo
- Located at 441 Lisbon Avenue in Buffalo, NY 14215
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
$19,576
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
8.33%
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%
$391,520
$391.5K
Cap Rate 7%
$279,657
$279.7K
Cap Rate 9%
$217,511
$217.5K
Market Conditions
NOI Build-Up for 2,142 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
$37.3K $17.40/SF
− Vacancy
−$1.7K −$0.78/SF
EGI
$35.6K $16.62/SF
− OpEx
−$16.0K −$7.48/SF
NOI
$19.6K $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%
$391,520
Cap Rate 7%
$279,657
Cap Rate 9%
$217,511
Alternative Uses
Best Use
Apartment 5plus
$279.7K
$244.7K – $326.3K
NOI $19,576 @ 7.0% cap · market cap 8.33%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$515.1K
$450.7K – $601.0K
NOI $36,058 @ 7.0% cap · market cap 15.34%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
1,053
Businesses Nearby
Explore this area
Business Placement
Demographics for 14215, NY
42,447
Population
19,203
Households
2.2
Avg Household Size
33
Median Age
19%
College-Educated
87%
High-School Grad
4.8 sq mi
ZIP Area
8,843
Density / Sq Mi
$43,326
Median Household Income
$29,204
Median Earnings
$993
Median Rent
$102,800
Median Home Value
Market
Vacancy Rate% for Multifamily in Northeast region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Multifamily property - Built in 1920 near the University at Buffalo, Bailey Avenue, shopping, dining, schools, and major highways.
Where is this multifamily property located?
The property is located at 441 Lisbon Avenue Buffalo, NY.
What is the asking price?
The asking price for this property is $235,000.
What are key features of this property?
This property features: Built in 1920; Near the University at Buffalo; Located at 441 Lisbon Avenue in Buffalo, NY 14215
