Rebuilt Multifamily Rooming
For Sale
$750,000
829 Fillmore Avenue, Buffalo, NY 14212
MultiFamily, Buffalo, NY
Property Size7,255 SF
Lot Size0.08 Acres
Price / SF$103.38
Days on Market59
Property Features for 829 Fillmore Avenue
General Information
Property type
Residential Multi Family
Property subtype
Other
Bedrooms
1
Rooms
Bedroom 1, Basement
Parking features
Garage, Driveway
Exterior features
ConcreteDriveway
Lot features
Near Public Transit, Rectangular, Rectangular Lot
Elementary school district
Buffalo
Middle school district
Buffalo
High school district
Buffalo
Directions
Coming up Sycamore St toward Wilson St. Make a left on Fillmore. Property will be located on your left.
Subdivision
Buffalo City-140200
Standard status
Active
APN
140200-111-280-0004-016-000
Size
7,255 SF
Lot size
0.08 Acres
Taxes and HOA fees
Tax Annual Amount
2318
Utilities
Heating system
Natural Gas, Baseboard
Water source
Public
Amenities
coin operated laundry
Building Details
Year built
1900
Floors in Building
3
Number of units
1
Flooring type
Hardwood, Vinyl, Tile, Varies
Building materials
CompositeSiding, VinylSiding
Roof type
Shingle
Listing Agency:
Gurney Becker & Bourne
(716) 849-1234
Listed By:
Taya Lockwood · License #10401363542
(716) 392-8968
Added: Jul 31
Changed: Sep 12
Last Checked: Sep 27 at 7:06PM
MLS# B1700679
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 multifamily rooming house contains 38 rooms, 5.5 bathrooms, and a separate one-bedroom apartment within 7,255 square feet. The building underwent a comprehensive renovation in 2018, including a reconfigured interior layout, rebuilt shingle roof, updated utility systems, newer electrical service and wiring, and a fire sprinkler system. Three natural-gas boilers serve the floors through multiple heating zones, while each floor has a dedicated subpanel and each room has its own circuit breaker.
The property includes a basement with coin-operated laundry, a garage, and a concrete driveway on a 0.0845-acre parcel. Its certificate of occupancy is current, and the rooming house license is in good standing. Management transfer is available. The property is presented with a 15% cap rate and a detailed income-and-expense statement available for review.
The property includes a basement with coin-operated laundry, a garage, and a concrete driveway on a 0.0845-acre parcel. Its certificate of occupancy is current, and the rooming house license is in good standing. Management transfer is available. The property is presented with a 15% cap rate and a detailed income-and-expense statement available for review.
Key Highlights
- 38 rooms, 5.5 bathrooms, and one 1‑bedroom apartment
- 7,255 square feet on a 0.0845‑acre parcel
- Comprehensive renovation completed in 2018
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
$66,306
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
8.84%
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%
$1,326,120
$1.3M
Cap Rate 7%
$947,229
$947.2K
Cap Rate 9%
$736,733
$736.7K
Market Conditions
NOI Build-Up for 7,255 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
$126.2K $17.40/SF
− Vacancy
−$5.7K −$0.78/SF
EGI
$120.6K $16.62/SF
− OpEx
−$54.3K −$7.48/SF
NOI
$66.3K $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%
$1,326,120
Cap Rate 7%
$947,229
Cap Rate 9%
$736,733
Alternative Uses
Best Use
Apartment 5plus
$947.2K
$828.8K – $1.11M
NOI $66,306 @ 7.0% cap · market cap 8.84%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.74M
$1.53M – $2.04M
NOI $122,128 @ 7.0% cap · market cap 16.28%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
39
Residential units
Yes
Sprinkler system
Location Intelligence
Trade Area within ½ mile
720
Businesses Nearby
Explore this area
Business Placement
Demographics for 14212, NY
13,533
Population
5,935
Households
2.3
Avg Household Size
32
Median Age
11%
College-Educated
76%
High-School Grad
2.1 sq mi
ZIP Area
6,444
Density / Sq Mi
$35,517
Median Household Income
$26,545
Median Earnings
$829
Median Rent
$89,900
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Multifamily in Northeast region
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Frequently Asked Questions
What type of property is this?
Multifamily property - Licensed rooming house with updated building systems, individual room electrical controls, and basement laundry facilities.
Where is this multifamily property located?
The property is located at 829 Fillmore Avenue Buffalo, NY.
What is the asking price?
The asking price for this property is $750,000.
What are key features of this property?
This property features: 38 rooms, 5.5 bathrooms, and one 1‑bedroom apartment; 7,255 square feet on a 0.0845‑acre parcel; Comprehensive renovation completed in 2018
