Brick Duplex with Detached
New
For Sale
$449,900
8 Evergreen Place, Buffalo, NY 14225
The two-unit residence has separate kitchens and living areas, with three bedrooms downstairs and two upstairs.
Property Size1,988 SF
Price / SF$226.31
Days on Market7
Property Features for 8 Evergreen Place
General Information
Standard status
Active
Size
1,988 SF
Total Parking Spaces
2
Property subtype
Multi Family Home
Site & Location
Neighborhood
Cheektowaga
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
Listed By:
Syed J Rizvi · License #10401279412
(716) 946-2700
Source:
Geracerealty
Added: Oct 22
Changed: Oct 25
Last Checked: Oct 26 at 4:02AM
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
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Investment Insights
Based on property information with market context.
This full-brick duplex, built in 1957, contains two residential units. The lower apartment has three bedrooms, a living-dining area, a full bathroom, and a spacious kitchen. The upper apartment includes two bedrooms, a living area, a full bathroom, and a kitchen. The property has been renovated, and its electrical system has been updated.
A detached two-car garage sits on the corner lot. The basement is described as dry, with a solid foundation and building mechanics.
A detached two-car garage sits on the corner lot. The basement is described as dry, with a solid foundation and building mechanics.
Key Highlights
- Full‑brick duplex built in 1957
- Lower unit has 3 bedrooms; upper unit has 2
- Each unit includes a kitchen and full bathroom
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$19,726
Cap Rate
4.38%
Suggested Prices Based on Cap Rates
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
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 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 4.38%
Second Best
Apartment 5plus
$259.6K
$227.1K – $302.8K
NOI $18,169 @ 7.0% cap · market cap 4.04%
Theoretical Best
Office A
$478.1K
$418.3K – $557.8K
NOI $33,465 @ 7.0% cap · market cap 7.44%
Zoning and permitted uses should be independently verified with authorities.
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Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
657
Businesses Nearby
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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
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Market
Vacancy Rate% for Multifamily in Northeast region
Frequently Asked Questions
What type of property is this?
Duplex - The two-unit residence has separate kitchens and living areas, with three bedrooms downstairs and two upstairs.
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 $449,900.
What are key features of this property?
This property features: Full‑brick duplex built in 1957; Lower unit has 3 bedrooms; upper unit has 2; Each unit includes a kitchen and full bathroom
