Full-Brick Duplex with
For Sale
$469,900
8 Evergreen Place, Buffalo, NY 14225
Two residential units include three- and two-bedroom layouts, full baths, and spacious kitchens.
Property Size1,988 SF
Days on Market29
Property Features for 8 Evergreen Place
General Information
Standard status
Active
Size
1,988 SF
Total Parking Spaces
2
Property subtype
Multi Family Home
Units
Unit Mix
1 x 3BR/1BA, 1 x 2BR/1BA
Multifamily Units
2
Taxes and HOA fees
Annual Taxes
$6,962
Building Details
Building Size
1,988 SF
Year Built
1957
Buildings
1
Stories
1
Units
2
Construction
full brick
Listing Agency:
Keller Williams Realty WNY
(716) 946-2700
Listed By:
Syed J Rizvi · License #10401279412
(716) 946-2700
Source:
Wcirealty
Added: Jul 28
Changed: Aug 22
Last Checked: Aug 24 at 3:22PM
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 Keller Williams Realty WNY
Investment Insights
Based on property information with market context.
Built in 1957, this two-unit residential property features a full-brick exterior and separate living spaces. The lower unit includes three bedrooms, a living-dining area, a full bathroom, and a spacious kitchen. Upstairs, the second unit offers two bedrooms, a living area, a full bathroom, and another spacious kitchen. Both units are currently vacant.
The property includes a detached 2-car garage and a dry basement with a solid foundation and existing mechanical systems. Electrical service has been updated, and the home has been maintained. Its configuration supports use as a duplex residence or an owner-occupied property with a second unit.
The property includes a detached 2-car garage and a dry basement with a solid foundation and existing mechanical systems. Electrical service has been updated, and the home has been maintained. Its configuration supports use as a duplex residence or an owner-occupied property with a second unit.
Key Highlights
- Full‑brick duplex built in 1957
- Lower unit with 3 bedrooms, living‑dining area, full bath, and spacious kitchen
- Upper unit with 2 bedrooms, living area, full bath, and spacious kitchen
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
$19,726
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
4.20%
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%
$394,520
$394.5K
Cap Rate 7%
$281,800
$281.8K
Cap Rate 9%
$219,178
$219.2K
Market Conditions
NOI Build-Up for 1,988 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
$29.8K $15.00/SF
− Vacancy
−$1.6K −$0.83/SF
EGI
$28.2K $14.17/SF
− OpEx
−$8.5K −$4.25/SF
NOI
$19.7K $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%
$394,520
Cap Rate 7%
$281,800
Cap Rate 9%
$219,178
Alternative Uses
Best Use
Multifamily LT 5
$281.8K
$246.6K – $328.8K
NOI $19,726 @ 7.0% cap · market cap 4.20%
Second Best
Apartment 5plus
$259.6K
$227.1K – $302.8K
NOI $18,169 @ 7.0% cap · market cap 3.87%
Theoretical Best
Office A
$478.1K
$418.3K – $557.8K
NOI $33,465 @ 7.0% cap · market cap 7.12%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
657
Businesses Nearby
Explore this area
Business Placement
Demographics for 14225, NY
34,066
Population
16,253
Households
2.1
Avg Household Size
41
Median Age
29%
College-Educated
93%
High-School Grad
11.5 sq mi
ZIP Area
2,962
Density / Sq Mi
$65,562
Median Household Income
$44,408
Median Earnings
$937
Median Rent
$154,500
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?
Duplex - Two residential units include three- and two-bedroom layouts, full baths, and spacious kitchens.
Where is this duplex located?
The property is located at 8 Evergreen Place Buffalo, NY.
What is the asking price?
The asking price for this property is $469,900.
What are key features of this property?
This property features: Full‑brick duplex built in 1957; Lower unit with 3 bedrooms, living‑dining area, full bath, and spacious kitchen; Upper unit with 2 bedrooms, living area, full bath, and spacious kitchen
