Triplex with
For Sale
$259,900
610 Fargo Avenue, Buffalo, NY 14213
Three-unit residential property with updated mechanical systems, a detached garage, and off-street parking near Buffalo destinations.
Property Size2,594 SF
Days on Market57
Property Features for 610 Fargo Avenue
General Information
Standard status
Active
Size
2,594 SF
Property subtype
Multi Family Home
Additional Details
Multifamily Units
3
Taxes and HOA fees
Annual Taxes
$3,152
Building Details
Building Size
2,594 SF
Year Built
1850
Buildings
1
Stories
2
Units
3
Listing Agency:
HUNT Real Estate ERA
(716) 390-6996
Listed By:
Lisa M Serio
(716) 390-6996
Source:
Dealrealtyonline
Added: Jul 6
Changed: Aug 29
Last Checked: Aug 30 at 5:37PM
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 HUNT Real Estate ERA
Investment Insights
Based on property information with market context.
This Buffalo West Side triplex contains three residential units and includes new furnaces and hot water tanks. The property also offers a 4-car garage and off-street parking, providing useful on-site vehicle storage and parking capacity. Built in 1850, the building offers a multifamily configuration suited to rental income or owner occupancy.
The property is near the restaurants and shops along Grant Street, Elmwood Village, Delaware Park, and Buffalo State University. Its location provides access to these nearby commercial, recreational, and educational destinations while retaining a three-unit residential layout.
The property is near the restaurants and shops along Grant Street, Elmwood Village, Delaware Park, and Buffalo State University. Its location provides access to these nearby commercial, recreational, and educational destinations while retaining a three-unit residential layout.
Key Highlights
- Three residential units in a multifamily building
- New furnaces and hot water tanks
- Rare 4‑car garage
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
$23,707
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
9.12%
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%
$474,140
$474.1K
Cap Rate 7%
$338,671
$338.7K
Cap Rate 9%
$263,411
$263.4K
Market Conditions
NOI Build-Up for 2,594 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
$45.1K $17.40/SF
− Vacancy
−$2.0K −$0.78/SF
EGI
$43.1K $16.62/SF
− OpEx
−$19.4K −$7.48/SF
NOI
$23.7K $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%
$474,140
Cap Rate 7%
$338,671
Cap Rate 9%
$263,411
Alternative Uses
Best Use
Multifamily LT 5
$367.7K
$321.7K – $429.0K
NOI $25,739 @ 7.0% cap · market cap 9.90%
Second Best
Apartment 5plus
$338.7K
$296.3K – $395.1K
NOI $23,707 @ 7.0% cap · market cap 9.12%
Theoretical Best
Office A
$623.8K
$545.8K – $727.8K
NOI $43,666 @ 7.0% cap · market cap 16.80%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
3
Residential units
Location Intelligence
Trade Area within ½ mile
784
Businesses Nearby
Explore this area
Business Placement
Demographics for 14213, NY
25,834
Population
11,397
Households
2.3
Avg Household Size
30
Median Age
36%
College-Educated
81%
High-School Grad
1.9 sq mi
ZIP Area
13,597
Density / Sq Mi
$52,597
Median Household Income
$36,084
Median Earnings
$1,059
Median Rent
$192,300
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?
Triplex - Three-unit residential property with updated mechanical systems, a detached garage, and off-street parking near Buffalo destinations.
Where is this triplex located?
The property is located at 610 Fargo Avenue Buffalo, NY.
What is the asking price?
The asking price for this property is $259,900.
What are key features of this property?
This property features: Three residential units in a multifamily building; New furnaces and hot water tanks; Rare 4‑car garage
