A method and system for evaluating physiological properties of a segment of blood vessel is provided. The method includes: acquiring a first measurement and a second measurement respectively at the first point and the second point; obtaining a transfer function configured to produce an output given an input, using the first measurement and the second measurement as the input and the output respectively; and determining the physiological properties of the section of the blood vessel based on the transfer function. The transfer function can be a velocity transfer function based on the blood velocity waveforms, or can be a pressure transfer function based on the blood pressure waveforms. The method and system can be used to non-invasively diagnose PH, COPD, and PA impedance in a pulmonary artery, and to detect a stenosis in a coronary artery.