Updated Two-Unit
New
For Sale
$289,900
87 Eiseman Avenue, Buffalo, NY 14217
Residential, Buffalo, NY
Property Size2,012 SF
Lot Size0.09 Acres
Price / SF$144.09
Days on Market3
Property Features for 87 Eiseman Avenue
General Information
Property type
Residential Multi Family
Property subtype
Other
Bedrooms
4
Bathrooms
2
Full bathrooms
2
Rooms
Bedroom 1, Bathroom 1, Bathroom 2, Basement, Bedroom 3, Bedroom 4, Bedroom 2
Exterior features
Balcony
Fireplace
1
Appliances
ElectricWaterHeater, GasWaterHeater
Subdivision
Holland Land Company's Su
Lot features
Near Public Transit, Rectangular, Rectangular Lot
Elementary school district
Kenmore-Tonawanda Union Free District
Middle school district
Kenmore-Tonawanda Union Free District
High school district
Kenmore-Tonawanda Union Free District
Standard status
Active
APN
146489-066-540-0009-030-000
Size
2,012 SF
Lot size
0.09 Acres
Taxes and HOA fees
Tax Annual Amount
5681
Utilities
Heating system
Natural Gas, Forced Air
Water source
Public
Building Details
Year built
1926
Floors in Building
3
Number of units
2
Flooring type
Varies, Hardwood, Vinyl
Building materials
Frame, VinylSiding
Roof type
Asphalt
Architectural style
Other
Listing Agency:
WNY Metro Roberts Realty
(716) 559-9972
Listed By:
Richard A Labarba · License #30LA1117049
(716) 559-9972
Added: Aug 18
Changed: Aug 19
Last Checked: Aug 20 at 4:06AM
MLS# B1707852
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 duplex offers 2,012 square feet within a 0.0931-acre parcel and was built in 1926. Recent improvements include a replacement roof, new siding, an expanded driveway, glass block, two new electrical services, remodeled kitchens with new appliances, and updated bathrooms. Refinished hardwood flooring, vinyl surfaces, a balcony, and a basement add to the property’s physical amenities.
The home is located at 87 Eiseman Avenue in Buffalo’s 14217 ZIP code, within Erie County. Public water serves the property, while heating is provided by natural gas and forced air. The building has frame construction with vinyl siding, an asphalt roof, and a fireplace. The layout includes four bedrooms, two bathrooms, and basement space.
The home is located at 87 Eiseman Avenue in Buffalo’s 14217 ZIP code, within Erie County. Public water serves the property, while heating is provided by natural gas and forced air. The building has frame construction with vinyl siding, an asphalt roof, and a fireplace. The layout includes four bedrooms, two bathrooms, and basement space.
Key Highlights
- 2,012 SF duplex on a 0.0931‑acre parcel
- Built in 1926 with frame construction and vinyl siding
- Remodeled kitchens include new appliances
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
Lease Details
2
Residential units
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 - Remodeled duplex with refreshed kitchens, hardwood flooring, new roof, and separate electrical services.
Where is this duplex located?
The property is located at 87 Eiseman Avenue 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 SF duplex on a 0.0931‑acre parcel; Built in 1926 with frame construction and vinyl siding; Remodeled kitchens include new appliances
