Large Two Family Value-Add Investment Opportunity with Spacious rooms featuring 6 total bedrooms with both units vacant and ready for renovation, ideal for investors or owner-occupants looking to customize and build equity. Each unit offers large living room and dining room, 3 large bedrooms, full bathrooms, and oversized kitchens with pantry rooms. The property showcases hardwood floors throughout, extensive original woodwork and pocket doors, giving strong character once restored. The home has separate entrances 499 (left side) for lower apartment — and 497 (right side) for upper apartment Additional features include a full large basement and a full attic, Excellent value-add opportunity renovate and significantly increase rental income and property value. Perfect for rental portfolio, or resale project.
Multi-familyProperty Type
1900Year Built
3,150 sq ftLot Size
$44Price/Sq.Ft.
Listing by Chaya Adelman• Arrowhead Property Management, LLC
•315-783-6374 (broker)
•myonkovig@arrowheadmgmt.com (broker)
Bought with Renee Moran• Red Door Real Estate WNY LLC
Listing by Keller Williams Realty WNY, (716) 832-3300
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Sale and tax history for 497-499 Riley St
Sale History
Tax History
Date
Event
Price
Public Records
May 8, 2026
Sold
$105,000
$44/sq ft
WNYREIS #B1662192
Apr 30, 2026
Sold
$105,900
$44/sq ft
Mar 17, 2026
Pending
—
Feb 13, 2026
Listed
$99,900
$42/sq ft
WNYREIS #B1609305
Aug 19, 2025
Pending
—
Aug 18, 2025
Listing Removed
—
Aug 13, 2025
Relisted
—
Jul 18, 2025
Pending
—
Jul 7, 2025
Price Changed
$99,900
$42/sq ft
Jun 19, 2025
Price Changed
$109,000
$46/sq ft
May 23, 2025
Listed
$119,000
$50/sq ft
Year
Property tax
Land + Additions
Assessment*
2025
$512 (+128.3%)
$5,000 + $150,000
$155,000
2024
$224 (+10.6%)
$2,000 + $38,000
$40,000
2023
$203 (−2.5%)
$2,000 + $38,000
$40,000
2022
$208 (+3.4%)
$2,000 + $38,000
$40,000
2021
$201 (−0.2%)
$2,000 + $38,000
$40,000
2020
$202 (−61.5%)
$2,000 + $38,000
$40,000
2019
$523 (+1.3%)
$1,800 + $18,200
$20,000
2018
$516 (+3.2%)
$1,800 + $18,200
$20,000
2017
$500 (+2.8%)
$1,800 + $18,200
$20,000
2016
$487 (+2.3%)
$1,800 + $18,200
$20,000
2015
$476 (+336.7%)
$1,800 + $18,200
$20,000
2014
$109
$1,800 + $18,200
$20,000
Public record
Public record
Zoning
Beds
6
Baths
2
Stories
2
Lot width
30 ft.
Lot depth
105 ft.
Lot size
3,150 Sq. Ft.
Year renovated
—
Sq. Ft.
2,380
Year built
1900
Style
Multi-Family (2-4 Unit)
County
Erie County
APN
140200A1005100003003000
Parking Spaces
—
Basement
—
Accessible
—
HOA Dues
—
Garage
—
Features
—
Last updated by owner on Aug 12, 2026.
N-3R
Residential Zone
The N-3R zone addresses residential areas adjoining the centers of Buffalo's streetcar neighborhoods, generally defined by moderately compact residential blocks, which occasionally include small mixed use buildings.
Permitted uses
Include but are not limited to:
Garden center
Housing-Group
Housing-Single unit
Housing-Multiple units
Park & open space
Property details
Parking
Parking
Features: See Remarks
Interior
Bathroom Information
# of Full Bathrooms: 2
Room Information
Has Basement
Basement Information: Full
Equipment
Appliances: Gas Water Heater
Multi Unit Information
# Of Units Total: 2
# Of Units In Community: 2
# Of Separate Gas Meters: 2
# Of Separate Electric Meters: 2
Multi Unit Financial Information
Operating Expense Includes: See Remarks
Unit Type 1
Unit Description: ,Dining Area With Living Room
# of Bedrooms: 3
# of Bathrooms Total: 1
# of Full Bathrooms: 1
Actual Rent Range: 0
Unit Type 2
Unit Description: ,Dining Area With Living Room
# of Bedrooms: 3
# of Bathrooms Total: 1
# of Full Bathrooms: 1
Actual Rent Range: 0
Exterior
Building Information
Stories: 2
Stories (Total): 2
Year Built Details: Existing
Construction Details: See Remarks
Lot Information
Lot Size Area: 0.0723
Lot Size Acres: 0.0723
Lot Size Dimensions: 30X105
Lot Features: Rectangular, Rectangular Lot, Residential Lot
Road Frontage Type: City Street
Property Information
Resale
Financial
Assessments and Fees
Assessed Value: $40,000
Tax Information
Annual Tax Amount: $700
Rental Information
Owner Pays: Other, See Remarks
Rent Includes: See Remarks
Utilities
Utility Information
Utilities: Sewer Connected, Water Connected
Sewer: Connected
Water Source: Connected, Public
Heating & Cooling
Has Heating
Heating: Gas, Forced Air
Public facts
Beds: 6
Baths: 2.0
Sq. Ft.: 2,380
Stories: 2.0
Lot Size: 3,150 square feet
Style: Multi-Family (2-4 Unit)
Year Built: 1900
Year Renovated: —
County: Erie County
APN: 140200A1005100003003000
Home facts updated by county records on Aug 12, 2026
Around this home
Schools
Community School 53 At 4
Public PreK-8 • Assigned • 0.3mi
2/10
Leonardo Da Vinci High School
Public 9-12 • Assigned • 0.5mi
6/10
Provided by GreatSchools
Climate risks
1/10 Flood Factor
Minimal risk of a flood reaching the building in the next 30 years
1/10 Fire Factor
Unlikely to be in a wildfire in next 30 years
2/10 Heat Factor
7 days above 93° expected this year, 14 days in 30 years
1/10 Wind Factor
Minimal risk of severe winds over next 30 years
3/10 Air Factor
2 unhealthy days expected this year, 3 days in 30 years
Provided by First Street
Historical weather
Buffalo, NY • 14208
Average low and high temperatures (°F)
29
19
31
20
48
31
58
40
64
49
77
61
83
68
79
62
76
58
63
46
49
37
37
25
Jan
Feb
Mar
Apr
May
Jun
Jul
Aug
Sep
Oct
Nov
Dec
Sun exposure
33/ 100
Low sunlight
Sunscore
There appears to be significant shading by surrounding buildings, terrain, and vegetation.
4.1 hrs
2.3 hrs
JuneDecember
Provided by Shadowmap
Estimated sale price
$207,000 – $251,000
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