Two-Unit
New
For Sale
$114,900
64 Reservation Street, Buffalo, NY 14207
Occupied residential income property with two separately configured apartments and established tenancy.
Property Size1,024 SF
Days on Market5
Property Features for 64 Reservation Street
General Information
Standard status
Active
Size
1,024 SF
Property subtype
Multi Family
Units
Unit Mix
2 x 2BR/1BA
Multifamily Units
2
Additional Details
Public Transit
Yes
Taxes and HOA fees
Annual Taxes
$1,092
Building Details
Building Size
1,024 SF
Year Built
1920
Tenancy
Multi
Listing Agency:
Pioneer Star Real Estate Inc.
Listed By:
Sugath S Liyanage · License #10301217718
(716) 348-8953
Source:
Highfallssir
Added: Sep 1
Changed: Sep 4
Last Checked: Sep 4 at 3:02PM
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 Pioneer Star Real Estate Inc.
Investment Insights
Based on property information with market context.
Constructed in 1920, this duplex contains two independent apartments, each arranged with two bedrooms and one full bathroom. Both residences are occupied by long-term tenants who have indicated interest in continuing their tenancies, supporting ongoing residential rental use.
The property is located in Buffalo, with access to shopping, public transportation, and major routes. Its two-unit configuration provides a straightforward addition to a multifamily portfolio or an owner’s first residential income property.
The property is located in Buffalo, with access to shopping, public transportation, and major routes. Its two-unit configuration provides a straightforward addition to a multifamily portfolio or an owner’s first residential income property.
Key Highlights
- Two independent apartments within one duplex property
- Each apartment includes 2 bedrooms and 1 full bath
- Both units are occupied by long‑term tenants
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
$10,161
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
8.84%
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%
$203,220
$203.2K
Cap Rate 7%
$145,157
$145.2K
Cap Rate 9%
$112,900
$112.9K
Market Conditions
NOI Build-Up for 1,024 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
$15.4K $15.00/SF
− Vacancy
−$845 −$0.83/SF
EGI
$14.5K $14.17/SF
− OpEx
−$4.4K −$4.25/SF
NOI
$10.2K $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%
$203,220
Cap Rate 7%
$145,157
Cap Rate 9%
$112,900
Alternative Uses
Best Use
Multifamily LT 5
$145.2K
$127.0K – $169.4K
NOI $10,161 @ 7.0% cap · market cap 8.84%
Second Best
Apartment 5plus
$133.7K
$117.0K – $156.0K
NOI $9,359 @ 7.0% cap · market cap 8.15%
Theoretical Best
Office A
$246.3K
$215.5K – $287.3K
NOI $17,238 @ 7.0% cap · market cap 15.00%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
975
Businesses Nearby
Explore this area
Business Placement
Demographics for 14207, NY
26,006
Population
11,317
Households
2.3
Avg Household Size
32
Median Age
19%
College-Educated
79%
High-School Grad
3.9 sq mi
ZIP Area
6,668
Density / Sq Mi
$38,951
Median Household Income
$33,851
Median Earnings
$943
Median Rent
$111,200
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?
Duplex - Occupied residential income property with two separately configured apartments and established tenancy.
Where is this duplex located?
The property is located at 64 Reservation Street Buffalo, NY.
What is the asking price?
The asking price for this property is $114,900.
What are key features of this property?
This property features: Two independent apartments within one duplex property; Each apartment includes 2 bedrooms and 1 full bath; Both units are occupied by long‑term tenants
