Updated Duplex with Original
New
For Sale
$289,900
87 Eiseman Ave, Buffalo, NY 14217
Two residential units feature refreshed interiors, separate electrical services, and kitchens equipped with new appliances.
Property Size2,012 SF
Price / SF$144.09
Days on Market5
Property Features for 87 Eiseman Ave
General Information
Standard status
Active
Size
2,012 SF
Property subtype
Multi-Family
Building Details
Year Built
1926
Listing Agency:
WNY Metro Roberts Realty
(716) 559-9972
Listed By:
Richard A Labarba · License #30LA1117049
Source:
Thejoshjamesteam
Added: Aug 26
Changed: Aug 29
Last Checked: Aug 30 at 7:59PM
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 WNY Metro Roberts Realty
Investment Insights
Based on property information with market context.
This 2,012-square-foot duplex, built in 1926, combines extensive recent improvements with retained period character. Updates include a new roof, siding, glass block, an expanded driveway, two new electrical services, remodeled kitchens with new appliances, and updated bathrooms. Original hardwood flooring has been refinished, while original tile remains in the bathrooms.
The property is located at 87 Eiseman Ave in Buffalo, NY, with walking access to the Delaware and Elmwood districts. The configuration offers two separate apartments, and the property may be purchased with an occupant in place or delivered vacant, as supported by the current offering terms.
The property is located at 87 Eiseman Ave in Buffalo, NY, with walking access to the Delaware and Elmwood districts. The configuration offers two separate apartments, and the property may be purchased with an occupant in place or delivered vacant, as supported by the current offering terms.
Key Highlights
- 2,012‑square‑foot duplex built in 1926
- New roof, siding, glass block, and expanded driveway
- Two new electrical services
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
$19,964
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
6.89%
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%
$399,280
$399.3K
Cap Rate 7%
$285,200
$285.2K
Cap Rate 9%
$221,822
$221.8K
Market Conditions
NOI Build-Up for 2,012 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
$30.2K $15.00/SF
− Vacancy
−$1.7K −$0.83/SF
EGI
$28.5K $14.17/SF
− OpEx
−$8.6K −$4.25/SF
NOI
$20.0K $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%
$399,280
Cap Rate 7%
$285,200
Cap Rate 9%
$221,822
Alternative Uses
Best Use
Multifamily LT 5
$285.2K
$249.6K – $332.7K
NOI $19,964 @ 7.0% cap · market cap 6.89%
Second Best
Apartment 5plus
$262.7K
$229.9K – $306.5K
NOI $18,388 @ 7.0% cap · market cap 6.34%
Theoretical Best
Office A
$483.8K
$423.4K – $564.5K
NOI $33,869 @ 7.0% cap · market cap 11.68%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,033
Businesses Nearby
Explore this area
Business Placement
Demographics for 14217, NY
23,085
Population
11,280
Households
2
Avg Household Size
41
Median Age
41%
College-Educated
95%
High-School Grad
3.2 sq mi
ZIP Area
7,214
Density / Sq Mi
$72,205
Median Household Income
$51,075
Median Earnings
$970
Median Rent
$193,200
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 feature refreshed interiors, separate electrical services, and kitchens equipped with new appliances.
Where is this duplex located?
The property is located at 87 Eiseman Ave Buffalo, NY.
What is the asking price?
The asking price for this property is $289,900.
What are key features of this property?
This property features: 2,012‑square‑foot duplex built in 1926; New roof, siding, glass block, and expanded driveway; Two new electrical services
