Updated Brick
For Sale
$399,999
Pending
64 Prospect Avenue, Buffalo, NY 14201
Residential, Buffalo, NY
Property Size2,912 SF
Lot Size0.08 Acres
Days on Market50
Property Features for 64 Prospect Avenue
General Information
Property type
Residential Multi Family
Property subtype
Other
Bedrooms
5
Bathrooms
3
Full bathrooms
3
Rooms
Basement, Bathroom 2, Bedroom 2, Bedroom 5, Bedroom 1, Bedroom 4, Bathroom 3, Bathroom 1, Bedroom 3
Patio and Porch features
Porch
Exterior features
Balcony
Appliances
GasWaterHeater
Lot features
Rectangular, Rectangular Lot, Residential Lot
Elementary school district
Buffalo
Middle school district
Buffalo
High school district
Buffalo
Directions
Georgia to Prospect
Subdivision
Buffalo City-140200
Standard status
Pending
APN
140200-110-440-0001-047-000
Size
2,912 SF
Lot size
0.08 Acres
Taxes and HOA fees
Tax Annual Amount
2955
Utilities
Heating system
Natural Gas, Radiant
Water source
Public
Amenities
off street parking
common laundry area with washer and dryer
Building Details
Year built
1900
Floors in Building
2
Number of units
3
Flooring type
Laminate, Carpet, Varies, Hardwood
Building materials
Brick, CopperPlumbing, PexPlumbing
Roof type
Asphalt
Architectural style
Other
Listing Agency:
Keller Williams Realty WNY
(716) 832-3300
Listed By:
Max Fenske · License #10401313813
(716) 913-3680
Added: Jul 6
Changed: Aug 22
Last Checked: Aug 24 at 8:06PM
MLS# B1696238
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 three-unit brick residential property offers 2,912 square feet across a configuration that includes basement space, multiple bedrooms and bathrooms, a porch, and a balcony. Each unit has been updated, while the exterior provides the durability of brick construction. Interior finishes include laminate, carpet, and hardwood flooring, with natural gas radiant heat and a gas water heater.
A complete asphalt roof replacement was completed approximately 1 year ago. The property also includes off-street parking and a common laundry area equipped with a washer and dryer. Public water service is in place, and the building dates to 1900.
The property is located in Buffalo’s Lower West Side Historic District, near Downtown Buffalo, the Medical Campus, restaurants, parks, and public transportation.
A complete asphalt roof replacement was completed approximately 1 year ago. The property also includes off-street parking and a common laundry area equipped with a washer and dryer. Public water service is in place, and the building dates to 1900.
The property is located in Buffalo’s Lower West Side Historic District, near Downtown Buffalo, the Medical Campus, restaurants, parks, and public transportation.
Key Highlights
- Three‑unit residential property with 2,912 square feet
- All three units have been updated
- Complete tear‑off asphalt roof installed approximately 1 year ago
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
$28,894
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
7.22%
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%
$577,880
$577.9K
Cap Rate 7%
$412,771
$412.8K
Cap Rate 9%
$321,044
$321.0K
Market Conditions
NOI Build-Up for 2,912 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
$43.7K $15.00/SF
− Vacancy
−$2.4K −$0.83/SF
EGI
$41.3K $14.17/SF
− OpEx
−$12.4K −$4.25/SF
NOI
$28.9K $9.92/SF
Area
Buffalo, NY
Vacancy
5.50%
Lease Rate
$15.00 /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%
$577,880
Cap Rate 7%
$412,771
Cap Rate 9%
$321,044
Alternative Uses
Best Use
Multifamily LT 5
$412.8K
$361.2K – $481.6K
NOI $28,894 @ 7.0% cap · market cap 7.22%
Second Best
Apartment 5plus
$380.2K
$332.7K – $443.6K
NOI $26,614 @ 7.0% cap · market cap 6.65%
Theoretical Best
Office A
$700.3K
$612.7K – $817.0K
NOI $49,019 @ 7.0% cap · market cap 12.25%
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
4,381
Businesses Nearby
Explore this area
Business Placement
Demographics for 14201, NY
12,364
Population
7,172
Households
1.7
Avg Household Size
33
Median Age
39%
College-Educated
84%
High-School Grad
1.1 sq mi
ZIP Area
11,240
Density / Sq Mi
$34,204
Median Household Income
$34,081
Median Earnings
$953
Median Rent
$327,900
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 refreshed residential units with off-street parking and shared laundry facilities.
Where is this triplex located?
The property is located at 64 Prospect Avenue Buffalo, NY.
What is the asking price?
The asking price for this property is $399,999.
What are key features of this property?
This property features: Three‑unit residential property with 2,912 square feet; All three units have been updated; Complete tear‑off asphalt roof installed approximately 1 year ago
