16-Unit Apartment
For Sale
$1,799,000
575 Starin Ave, Buffalo, NY 14216
Four-building rental property with two-bedroom layouts and dedicated parking for every residence.
Property Size9,392 SF
Price / SF$191.55
Days on Market11
Property Features for 575 Starin Ave
General Information
Standard status
Active
Size
9,392 SF
Total Parking Spaces
16
Property subtype
Residential Income
Units
Unit Mix
16 x 2BR
Multifamily Units
16
Parking per Unit
1
Taxes and HOA fees
Annual Taxes
$25,975
Amenities
laundry hookup
secured storage
outdoor space
Building Details
Buildings
4
Listing Agency:
Gurney Becker & Bourne
(716) 849-1234
Listed By:
Gary Greco Jr · License #10401251303
(716) 208-5340
Source:
Exprealty
Added: Sep 3
Changed: Sep 12
Last Checked: Sep 12 at 2:30PM
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 Gurney Becker & Bourne
Investment Insights
Based on property information with market context.
This multifamily property comprises 16 apartments distributed among four buildings at 575 Starin Ave. Every residence is configured as a two-bedroom unit with a kitchen, living area, full bathroom, closets, and additional storage. Individual heating and electric utilities serve each apartment, while hot water is provided by the landlord. Separate laundry hookups and secured storage are also included for each unit.
The complex occupies a corner at Starin Avenue and St. Lawrence in North Buffalo, Buffalo, NY. On-site parking provides 16 spaces, with one assigned to each apartment. Outdoor space behind the buildings adds a shared exterior area for residents.
The complex occupies a corner at Starin Avenue and St. Lawrence in North Buffalo, Buffalo, NY. On-site parking provides 16 spaces, with one assigned to each apartment. Outdoor space behind the buildings adds a shared exterior area for residents.
Key Highlights
- 16 two‑bedroom apartments across four buildings
- Each unit includes a kitchen, living room, full bathroom, closets, and storage
- Separate heating and electric utilities for every apartment
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
$85,837
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
4.77%
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%
$1,716,740
$1.7M
Cap Rate 7%
$1,226,243
$1.2M
Cap Rate 9%
$953,744
$953.7K
Market Conditions
NOI Build-Up for 9,392 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
$163.4K $17.40/SF
− Vacancy
−$7.4K −$0.78/SF
EGI
$156.1K $16.62/SF
− OpEx
−$70.2K −$7.48/SF
NOI
$85.8K $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%
$1,716,740
Cap Rate 7%
$1,226,243
Cap Rate 9%
$953,744
Alternative Uses
Best Use
Apartment 5plus
$1.23M
$1.07M – $1.43M
NOI $85,837 @ 7.0% cap · market cap 4.77%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$2.26M
$1.98M – $2.64M
NOI $158,101 @ 7.0% cap · market cap 8.79%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
16
Residential units
Location Intelligence
Trade Area within ½ mile
580
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
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?
Apartment building - Four-building rental property with two-bedroom layouts and dedicated parking for every residence.
Where is this apartment building located?
The property is located at 575 Starin Ave Buffalo, NY.
What is the asking price?
The asking price for this property is $1,799,000.
What are key features of this property?
This property features: 16 two‑bedroom apartments across four buildings; Each unit includes a kitchen, living room, full bathroom, closets, and storage; Separate heating and electric utilities for every apartment
