Fenced-Yard
For Sale
$174,900
Pending
66 California Street, Buffalo, NY 14213
Residential, Buffalo, NY
Property Size1,600 SF
Lot Size0.04 Acres
Days on Market139
Property Features for 66 California Street
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning description
Residential 2 Unit
Bedrooms
4
Bathrooms
2
Full bathrooms
2
Rooms
Bedroom 2, Basement, Bedroom 1, Bedroom 3, Bathroom 2, Bathroom 1, Bedroom 4
Parking features
On Street, Driveway
Patio and Porch features
Porch
Interior features
Storage, NaturalWoodwork
Exterior features
FullyFenced
Fencing
Fenced
Appliances
GasWaterHeater
Subdivision
Village/Black Rock
Lot features
Corner Lot, Near Public Transit, Rectangular, Rectangular Lot, Residential Lot
Elementary school district
Buffalo
Middle school district
Buffalo
High school district
Buffalo
Standard status
Pending
APN
140200-099-420-0003-012-000
Size
1,600 SF
Lot size
0.04 Acres
Taxes and HOA fees
Tax Annual Amount
1439
Utilities
Heating system
Forced Air, Natural Gas
Water source
Public
Amenities
fenced yard
Building Details
Year built
1917
Floors in Building
2
Number of units
2
Flooring type
Hardwood, Vinyl, Varies
Building materials
AluminumSiding, CopperPlumbing
Roof type
Asphalt
Architectural style
Other
Additional Structures
Storage
Listing Agency:
WNY Metro Roberts Realty
(716) 875-2211
Listed By:
Barbara J Castillo · License #10401243077
(716) 597-3690
Added: Apr 28
Changed: Sep 12
Last Checked: Sep 13 at 2:06PM
MLS# B1674652
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 1,600-square-foot duplex, built in 1917, contains two residential units with matching layouts of 2 bedrooms and 1 full bath. The lower apartment is occupied by a long-term tenant, while the upper apartment is vacant and includes appliances. Natural hardwood, additional storage, a full basement, and a spacious attic provide useful interior functionality. Heating is provided by natural gas forced air, with a gas water heater and public water service.
The property occupies a 0.0402-acre corner lot at 66 California Street in Buffalo, NY 14213. Exterior features include a fully fenced yard, porch, driveway, and on-street parking. The roof was updated in 2018, the gas line in 2021, and the hot water tank in 2025; substantial plumbing improvements are also reported. The home has aluminum siding, copper plumbing, and a mix of hardwood and vinyl flooring.
The property occupies a 0.0402-acre corner lot at 66 California Street in Buffalo, NY 14213. Exterior features include a fully fenced yard, porch, driveway, and on-street parking. The roof was updated in 2018, the gas line in 2021, and the hot water tank in 2025; substantial plumbing improvements are also reported. The home has aluminum siding, copper plumbing, and a mix of hardwood and vinyl flooring.
Key Highlights
- Duplex with 1,600 square feet of building area on a 0.0402‑acre lot
- Two units, each configured with 2 bedrooms and 1 full bath
- Lower unit occupied by a long‑term tenant; upper unit vacant with appliances
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
$15,876
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
9.08%
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%
$317,520
$317.5K
Cap Rate 7%
$226,800
$226.8K
Cap Rate 9%
$176,400
$176.4K
Market Conditions
NOI Build-Up for 1,600 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
$24.0K $15.00/SF
− Vacancy
−$1.3K −$0.83/SF
EGI
$22.7K $14.17/SF
− OpEx
−$6.8K −$4.25/SF
NOI
$15.9K $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%
$317,520
Cap Rate 7%
$226,800
Cap Rate 9%
$176,400
Alternative Uses
Best Use
Multifamily LT 5
$226.8K
$198.5K – $264.6K
NOI $15,876 @ 7.0% cap · market cap 9.08%
Second Best
Apartment 5plus
$208.9K
$182.8K – $243.7K
NOI $14,623 @ 7.0% cap · market cap 8.36%
Theoretical Best
Office A
$384.8K
$336.7K – $448.9K
NOI $26,934 @ 7.0% cap · market cap 15.40%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
2
Residential units
Single-tenant
Tenancy
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
1,056
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
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Duplex - Two-bedroom units, one occupied and one vacant, offer flexible ownership and income options.
Where is this duplex located?
The property is located at 66 California Street Buffalo, NY.
What is the asking price?
The asking price for this property is $174,900.
What are key features of this property?
This property features: Duplex with 1,600 square feet of building area on a 0.0402‑acre lot; Two units, each configured with 2 bedrooms and 1 full bath; Lower unit occupied by a long‑term tenant; upper unit vacant with appliances
