Six-Bedroom
New
For Sale
$249,900
83 Wakefield Avenue, Buffalo, NY 14214
Residential, Buffalo, NY
Property Size2,258 SF
Lot Size0.08 Acres
Price / SF$110.67
Days on Market4
Property Features for 83 Wakefield Avenue
General Information
Property type
Residential Multi Family
Property subtype
Other
Bedrooms
6
Bathrooms
2
Full bathrooms
2
Rooms
Bedroom 5, Bedroom 4, Bedroom 6, Bedroom 3, Bedroom 1, Basement, Bathroom 2, Bedroom 2, Bathroom 1
Parking features
On Street
Appliances
GasWaterHeater
Subdivision
Highland Park
Lot features
Rectangular, Rectangular Lot, Residential Lot
Elementary school district
Buffalo
Middle school district
Buffalo
High school district
Buffalo
Standard status
Active
APN
140200-090-370-0006-010-000
Size
2,258 SF
Lot size
0.08 Acres
Taxes and HOA fees
Tax Annual Amount
46612
Utilities
Heating system
Natural Gas, Forced Air
Water source
Public
Building Details
Year built
1920
Floors in Building
2
Number of units
2
Flooring type
Varies, Tile, Vinyl
Building materials
VinylSiding
Listing Agency:
Keller Williams Realty WNY
(716) 832-3300
Listed By:
Hasan Mahmud · License #10401388714
(718) 902-0501
Added: Oct 2
Changed: Oct 5
Last Checked: Oct 5 at 10:06AM
MLS# B1714663
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 2,258-square-foot duplex was built in 1920 and has six bedrooms and two bathrooms. The property has vinyl siding, a mix of vinyl and tile flooring, forced-air natural gas heat, and a gas water heater. Water is supplied by the public system, and parking is on the street. The lot measures 0.0826 acres.
The property is offered in as-is condition. The seller will not complete repairs, including work requested by an appraiser or lender.
The property is offered in as-is condition. The seller will not complete repairs, including work requested by an appraiser or lender.
Key Highlights
- Duplex with 2,258 square feet
- Six bedrooms and two bathrooms
- Built in 1920 on a 0.0826‑acre 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
$22,405
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
8.97%
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%
$448,100
$448.1K
Cap Rate 7%
$320,071
$320.1K
Cap Rate 9%
$248,944
$248.9K
Market Conditions
NOI Build-Up for 2,258 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
$33.9K $15.00/SF
− Vacancy
−$1.9K −$0.83/SF
EGI
$32.0K $14.17/SF
− OpEx
−$9.6K −$4.25/SF
NOI
$22.4K $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%
$448,100
Cap Rate 7%
$320,071
Cap Rate 9%
$248,944
Alternative Uses
Best Use
Multifamily LT 5
$320.1K
$280.1K – $373.4K
NOI $22,405 @ 7.0% cap · market cap 8.97%
Second Best
Apartment 5plus
$294.8K
$258.0K – $344.0K
NOI $20,637 @ 7.0% cap · market cap 8.26%
Theoretical Best
Office A
$543.0K
$475.1K – $633.5K
NOI $38,010 @ 7.0% cap · market cap 15.21%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
1,165
Businesses Nearby
Explore this area
Business Placement
Demographics for 14214, NY
20,732
Population
9,280
Households
2.2
Avg Household Size
32
Median Age
46%
College-Educated
90%
High-School Grad
3.3 sq mi
ZIP Area
6,282
Density / Sq Mi
$56,573
Median Household Income
$29,928
Median Earnings
$1,072
Median Rent
$234,600
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
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Frequently Asked Questions
What type of property is this?
Duplex - Two residential units provide six bedrooms and two bathrooms in total.
Where is this duplex located?
The property is located at 83 Wakefield Avenue Buffalo, NY.
What is the asking price?
The asking price for this property is $249,900.
What are key features of this property?
This property features: Duplex with 2,258 square feet; Six bedrooms and two bathrooms; Built in 1920 on a 0.0826‑acre lot
