Brick Duplex with Detached
For Sale
$469,900
8 Evergreen Place, Buffalo, NY 14225
Residential, Buffalo, NY
Property Size1,988 SF
Lot Size0.20 Acres
Price / SF$236.37
Days on Market47
Property Features for 8 Evergreen Place
General Information
Property type
Residential Multi Family
Property subtype
Other
Bedrooms
5
Bathrooms
2
Full bathrooms
2
Rooms
Bedroom 3, Bedroom 4, Basement, Bedroom 2, Bedroom 5, Bathroom 1, Bedroom 1, Bathroom 2
Parking features
Garage
Appliances
GasWaterHeater
Subdivision
Buffalo Crk Reservation
Lot features
Rectangular, Rectangular Lot, Residential Lot
Elementary school district
Cheektowaga
Middle school district
Cheektowaga
High school district
Cheektowaga
Directions
Use GPS
Standard status
Active
APN
143089-091-190-0004-027-000
Size
1,988 SF
Lot size
0.20 Acres
Taxes and HOA fees
Tax Annual Amount
6962
Utilities
Heating system
Natural Gas, Forced Air
Water source
Public
Building Details
Year built
1957
Floors in Building
1
Number of units
2
Flooring type
Varies, Hardwood
Building materials
Brick
Listing Agency:
Keller Williams Realty WNY
(716) 832-3300
Listed By:
Syed J Rizvi · License #10401279412
(716) 946-2700
Added: Jul 28
Changed: Sep 12
Last Checked: Sep 12 at 10:06PM
MLS# B1702255
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 two-unit brick residential income property contains 1,988 square feet and was built in 1957. The lower residence includes three bedrooms, a living-dining area, a full bathroom, and a spacious kitchen. The upper residence offers two bedrooms, a living area, a full bathroom, and its own kitchen. Both units are currently vacant.
The property occupies a 0.2-acre corner lot and includes a detached two-car garage. Additional features include a dry basement, hardwood flooring in portions of the home, natural gas forced-air heat, a gas water heater, public water service, and updated electrical systems. The foundation and mechanical systems are described as solid, while brick construction provides the primary exterior material.
The property occupies a 0.2-acre corner lot and includes a detached two-car garage. Additional features include a dry basement, hardwood flooring in portions of the home, natural gas forced-air heat, a gas water heater, public water service, and updated electrical systems. The foundation and mechanical systems are described as solid, while brick construction provides the primary exterior material.
Key Highlights
- 1,988‑square‑foot two‑unit brick property built in 1957
- Lower unit has 3 bedrooms; upper unit has 2 bedrooms
- Detached 2‑car garage on a 0.2‑acre corner lot
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
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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
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 - Renovated two-unit property with separate living spaces, updated electrical service, and a detached garage on a corner lot.
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: 1,988‑square‑foot two‑unit brick property built in 1957; Lower unit has 3 bedrooms; upper unit has 2 bedrooms; Detached 2‑car garage on a 0.2‑acre corner lot
