Six-Unit Apartment Building with Rear
For Sale
$925,000
67 Harvard Place, Buffalo, NY 14209
MULTI_FAMILY - Buffalo, NY
Property Size5,471 SF
Lot Size0.29 Acres
Price / SF$169.07
Days on Market170
Property Features for 67 Harvard Place
General Information
Property type
Residential Multi Family
Property subtype
Other
Bedrooms
6
Rooms
Basement, Bedroom 1, Bedroom 3, Bedroom 4, Bedroom 5, Bedroom 2, Bedroom 6
Exterior features
GravelDriveway
Appliances
GasCooktop, GasWaterHeater
Lot features
Near Public Transit, Rectangular, Rectangular Lot
Elementary school district
Buffalo
Middle school district
Buffalo
High school district
Buffalo
Subdivision
Buffalo City-140200
Standard status
Active
APN
140200-100-240-0003-050-100
Size
5,471 SF
Lot size
0.29 Acres
Taxes and HOA fees
Tax Annual Amount
10478
Utilities
Heating system
Forced Air, Natural Gas
Water source
Public
Amenities
washer
dryer
garage
storage space
Building Details
Year built
1930
Floors in Building
2
Number of units
6
Flooring type
Vinyl, Varies
Building materials
WoodSiding
Roof type
Asphalt
Listing Agency:
WNY Metro Roberts Realty
(716) 662-0449
Listed By:
Shannon G Szalay · License #10401311154
(716) 913-0662
Added: Feb 20
Changed: Aug 6
Last Checked: Aug 9 at 12:06PM
MLS# B1663059
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 six-unit apartment building has been completely redone from top to bottom and is offered fully furnished. The building includes in-unit essentials like leather furnishings and washer/dryer, and each tenant has basement storage. The home is heated with natural gas forced air and features a gas cooktop and gas water heater. Construction materials include wood siding, with a gravel driveway and an asphalt roof.
Located at 67 Harvard Place in Buffalo, NY 14209, the property is described as being right in the heart of Canisius College. An additional lot next-door is included, and there is a large garage in the rear. Water service is listed as public.
Built in 1930, the property has 5,471 square feet total as provided, with flooring that includes vinyl and other varied materials.
Located at 67 Harvard Place in Buffalo, NY 14209, the property is described as being right in the heart of Canisius College. An additional lot next-door is included, and there is a large garage in the rear. Water service is listed as public.
Built in 1930, the property has 5,471 square feet total as provided, with flooring that includes vinyl and other varied materials.
Key Highlights
- Completely redone, top to bottom; six units offered fully furnished
- Rear garage plus additional lot next‑door included
- Basement storage space for each tenant
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
$50,001
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
5.41%
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%
$1,000,020
$1.0M
Cap Rate 7%
$714,300
$714.3K
Cap Rate 9%
$555,567
$555.6K
Market Conditions
NOI Build-Up for 5,471 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
$95.2K $17.40/SF
− Vacancy
−$4.3K −$0.78/SF
EGI
$90.9K $16.62/SF
− OpEx
−$40.9K −$7.48/SF
NOI
$50.0K $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%
$1,000,020
Cap Rate 7%
$714,300
Cap Rate 9%
$555,567
Alternative Uses
Best Use
Apartment 5plus
$714.3K
$625.0K – $833.4K
NOI $50,001 @ 7.0% cap · market cap 5.41%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.32M
$1.15M – $1.53M
NOI $92,097 @ 7.0% cap · market cap 9.96%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
6
Residential units
Location Intelligence
Trade Area within ½ mile
1,113
Businesses Nearby
Explore this area
Business Placement
Demographics for 14209, NY
8,251
Population
4,729
Households
1.7
Avg Household Size
39
Median Age
46%
College-Educated
90%
High-School Grad
1.0 sq mi
ZIP Area
8,251
Density / Sq Mi
$49,359
Median Household Income
$33,329
Median Earnings
$1,025
Median Rent
$408,600
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?
Apartment building - Six-unit, fully furnished apartment building with a rear garage, basement storage for each tenant, and public water.
Where is this apartment building located?
The property is located at 67 Harvard Place Buffalo, NY.
What is the asking price?
The asking price for this property is $925,000.
What are key features of this property?
This property features: Completely redone, top to bottom; six units offered fully furnished; Rear garage plus additional lot next‑door included; Basement storage space for each tenant
