16-Unit Apartment
New
For Sale
$1,799,000
575 Starin Avenue, Buffalo, NY 14216
MultiFamily, Buffalo, NY
Property Size9,392 SF
Lot Size0.42 Acres
Price / SF$191.55
Days on Market5
Property Features for 575 Starin Avenue
General Information
Property type
Residential Multi Family
Property subtype
Other
Bedrooms
16
Rooms
Bedroom 2, Bedroom 7, Bedroom 14, Bedroom 1, Bedroom 8, Basement, Bedroom 9, Bedroom 11, Bedroom 6, Bedroom 12, Bedroom 16, Bedroom 5, Bedroom 13, Bedroom 15, Bedroom 3, Bedroom 4, Bedroom 10
Parking features
Driveway, Garage
Exterior features
BlacktopDriveway
Appliances
GasOven, GasRange, GasWaterHeater, Refrigerator
Lot features
Corner Lot, Rectangular, Rectangular Lot
Elementary school district
Buffalo
Middle school district
Buffalo
High school district
Buffalo
Subdivision
Buffalo City-140200
Standard status
Active
APN
140200-078-440-0001-018-100
Size
9,392 SF
Lot size
0.42 Acres
Taxes and HOA fees
Tax Annual Amount
25975
Utilities
Heating system
Forced Air, Natural Gas
Water source
Public
Amenities
separate laundry hookup system
secured storage
outdoor space
Building Details
Year built
1950
Floors in Building
2
Number of units
16
Flooring type
Carpet, Varies, Laminate
Building materials
Stucco
Roof type
Asphalt
Listing Agency:
Gurney Becker & Bourne
(716) 849-1234
Listed By:
Gary Greco Jr · License #10401251303
(716) 208-5340
Added: Sep 3
Last Checked: Sep 7 at 12:06PM
MLS# B1712063
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 16-unit apartment property at 575 Starin Avenue in Buffalo, NY, includes four buildings totaling 9,392 square feet on 0.4167 acres. The apartments are all two-bedroom units with kitchens, living rooms, full bathrooms, closets, and storage areas. Construction dates to 1950, with stucco exteriors, asphalt roofing, forced-air natural gas heat, and public water.
Each apartment has separately metered heating and electric utilities, while hot water is supplied by the landlord. Individual laundry hookups and secured storage accompany the units. The property also provides 16 on-site parking spaces, a blacktop driveway, garage parking, and outdoor area behind the buildings. Appliances include gas ovens, gas ranges, gas water heaters, and refrigerators.
Each apartment has separately metered heating and electric utilities, while hot water is supplied by the landlord. Individual laundry hookups and secured storage accompany the units. The property also provides 16 on-site parking spaces, a blacktop driveway, garage parking, and outdoor area behind the buildings. Appliances include gas ovens, gas ranges, gas water heaters, and refrigerators.
Key Highlights
- 16 apartments across four buildings
- All units are two‑bedroom apartments with kitchens, living rooms, full bathrooms, and storage
- 9,392 square feet on 0.4167 acres
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
Property Profile
Current Use
Lease Details
16
Residential units
Yes
Paved road access
Yes
Utilities to site
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
Market
Vacancy Rate% for Multifamily in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Apartment building - Four buildings contain two-bedroom apartments with individual heating and electric utilities.
Where is this apartment building located?
The property is located at 575 Starin Avenue 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 apartments across four buildings; All units are two‑bedroom apartments with kitchens, living rooms, full bathrooms, and storage; 9,392 square feet on 0.4167 acres
