Quadplex with New
For Sale
$349,900
Pending
6 Springfield Drive, Cheektowaga, NY 14225
Residential, Cheektowaga, NY
Property Size3,380 SF
Lot Size0.16 Acres
Days on Market47
Property Features for 6 Springfield Drive
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning description
Residential 2 Unit
Bedrooms
8
Bathrooms
4
Full bathrooms
4
Rooms
Bedroom 1, Bedroom 5, Bathroom 3, Bedroom 4, Bedroom 8, Bedroom 6, Bathroom 1, Bedroom 3, Bedroom 7, Bathroom 2, Bathroom 4, Bedroom 2
Appliances
GasWaterHeater
Subdivision
Holland Land Company's Su
Lot features
Rectangular, Rectangular Lot, Residential Lot
Elementary school district
Cleveland Hill
Middle school district
Cleveland Hill
High school district
Cleveland Hill
Standard status
Pending
APN
143089-091-100-0004-013-000
Size
3,380 SF
Lot size
0.16 Acres
Taxes and HOA fees
Tax Annual Amount
6006
Utilities
Heating system
Forced Air, Natural Gas
Water source
Public
Amenities
first-floor laundry rooms
Building Details
Year built
1947
Floors in Building
2
Number of units
4
Flooring type
Varies, Tile, Hardwood, Laminate
Building materials
VinylSiding
Roof type
Asphalt
Architectural style
Other
Listing Agency:
Mootry Murphy & Burgin Realty Group LLC
(716) 534-8495
Listed By:
HaroldKraven Weeks · License #10301224078
(716) 400-4007
Added: Jul 21
Changed: Sep 1
Last Checked: Sep 5 at 10:06PM
MLS# B1699198
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 quadplex contains four apartments with a consistent two-bedroom, one-bath layout. Each unit includes an eat-in kitchen, living room, and first-floor laundry area. The property offers 3,380 square feet on a 0.16-acre lot, with vinyl siding, asphalt roofing, forced-air natural gas heat, and public water. Hardwood, laminate, and tile flooring are present across the units.
Constructed in 1947, the building received a new roof in 2025. The property is situated in Cheektowaga near major expressways, shopping centers, malls, and the airport. Its single-building, four-unit configuration provides a consolidated residential income property rather than multiple separate locations.
Constructed in 1947, the building received a new roof in 2025. The property is situated in Cheektowaga near major expressways, shopping centers, malls, and the airport. Its single-building, four-unit configuration provides a consolidated residential income property rather than multiple separate locations.
Key Highlights
- Four apartments with identical two‑bedroom, one‑bath layouts
- 3,380 square feet on a 0.16‑acre lot
- New roof installed in 2025
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
$21,732
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
6.21%
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%
$434,640
$434.6K
Cap Rate 7%
$310,457
$310.5K
Cap Rate 9%
$241,467
$241.5K
Market Conditions
NOI Build-Up for 3,380 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
$46.6K $13.80/SF
− Vacancy
−$15.6K −$4.61/SF
EGI
$31.0K $9.19/SF
− OpEx
−$9.3K −$2.76/SF
NOI
$21.7K $6.43/SF
Area
Erie County, NY
Vacancy
33.44%
Lease Rate
$13.80 /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%
$434,640
Cap Rate 7%
$310,457
Cap Rate 9%
$241,467
Alternative Uses
Best Use
Multifamily LT 5
$310.5K
$271.7K – $362.2K
NOI $21,732 @ 7.0% cap · market cap 6.21%
Second Best
Apartment 5plus
$278.8K
$243.9K – $325.3K
NOI $19,515 @ 7.0% cap · market cap 5.58%
Theoretical Best
Office A
$738.9K
$646.5K – $862.0K
NOI $51,722 @ 7.0% cap · market cap 14.78%
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
245
Businesses Nearby
Explore this area
Business Placement
Demographics for 14225, NY
34,066
Population
16,253
Households
2.1
Avg Household Size
41
Median Age
29%
College-Educated
93%
High-School Grad
11.5 sq mi
ZIP Area
2,962
Density / Sq Mi
$65,562
Median Household Income
$44,408
Median Earnings
$937
Median Rent
$154,500
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 - Each matching apartment includes two bedrooms, one bath, an eat-in kitchen, living space, and laundry on the first floor.
Where is this quadplex located?
The property is located at 6 Springfield Drive Cheektowaga, NY.
What is the asking price?
The asking price for this property is $349,900.
What are key features of this property?
This property features: Four apartments with identical two‑bedroom, one‑bath layouts; 3,380 square feet on a 0.16‑acre lot; New roof installed in 2025
