25 Hartman Pl · Buffalo, NY 14207

$254,900

4 bd · 2.0 ba · 1,980 sqft · MultiFamily public records · 61 Days on market

Built 1920 3,027 sqft lot $129/sqft · 8% below area Est $277k · 8% under

---

Why this score? — see what drove the C- grade

The composite is a weighted blend of 9 inputs, each scored 0–100. Each bar is that input's sub-score; the figure is the points it added to the 100-point composite (weight × sub-score).

• Cash flow +16.4/30.0
• ARV discount +11.1/15.0
• DSCR +5.1/10.0
• 1% rule +4.5/10.0
• Rent growth +4.5/5.0
• Livability +3.9/5.0
• Schools +3.3/10.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Multi-family units

County records classify this as Multi-Family (2-4 Unit). Listing-text estimate: 1 unit. estimate disagrees with records

Listing remarks MLS

FULLY RENOVATED! 25 Hartman Place. Completely redone from top to bottom—this is a true move-in ready home with everything BRAND NEW! New heating system, All new electrical & plumbing (fully replaced), 2 brand new kitchens, 2 fully updated bathrooms. New flooring throughout, Dry basement with new concrete floor, Fresh paint inside & outside, driveway garage available! Perfect for homeowners or investors! Vacant – Easy to show. Open Houses 4/18 1-3pm and 4/19 11am-1pm.  •   Offers will be received as they are submitted. Owner is a licensed real estate agent.

Key facts

• New kitchens
• New plumbing
• New electrical

Tags

• NEW HEATING SYSTEM
• NEW ELECTRICAL
• NEW PLUMBING
• NEW KITCHENS
• UPDATED BATHROOMS
• DRY BASEMENT

What this means for you Summary

Snapshot

• This is a 4-bed/2.0-bath multifamily listed at $255k.

Deal economics

• At list price, monthly cash flow is $143 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $241k (5.4% below list).
• Recommended offer: $240k (6.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads 77/100 on livability (#195 in NY, #3,011 nationally) — a middle-class / working-renter tenant base. Strengths: commute A+, housing A+, health & safety A+; Watch: crime F, employment D-.
• Buffalo City School District (urban): math 41% / reading 40% proficiency, ranked #535 of 590 in NY (top 91%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases; 75% free/reduced lunch — lower-income household profile, screen leases tightly.
• Market conditions: Rents rising fast (+8.2%/yr); 197 active listings in the ZIP; 6 comparable units currently listed for rent nearby; rentals at typical pace (median 14d on market — plan ~3-4 weeks tenant-placement turnaround); lower-income renter base — watch delinquency; 1,244 units permitted in Erie County in 2024 (563 in 5+ unit buildings).
• At $2,411/mo this rent would consume 73% of the median local household income ($40k/yr) (locally 2177% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $2k of loan paydown is wiped out by about $8k of value loss. Plan a longer hold.
• At projected returns (-3.0% appreciation + 8.0% rent growth), your $71k cash investment doubles in ~10 years — after that, you're playing with house money.

Negotiation context

• It's been on market 61 days — a 6% lower offer ($240k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts; this cycle's ask has dropped $20k (7%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $95k; list at $255k implies a 168% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1920 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $239,606 (6.0% below list)

Questions for the listing agent

1. It's been on market 61 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
2. Built in 1920 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. Crime grade is F in this area — have there been break-ins, vandalism, or insurance claims at this property in the last 3 years? What carrier currently insures it and at what premium?
6. What's the average days-on-market for RENTAL listings here right now (not sales)? A rising rental-DOM trend means longer vacancies and softer asking-rent achievability than the comps imply.
7. What's the recent tenant-quality profile in this submarket — average credit score on applications, eviction rate, late-payment / NSF rate, and stable-employment percentage? A property-management company in the area should have these aggregated.
8. How much new apartment / multifamily construction is in the pipeline within 1–3 miles? Heavy new supply (>2% of stock underway) typically softens rents 12–24 months out; light construction supports rent growth.

Investment metrics

• 1% rule: 0.95% ✗
• Cap rate: 6.97%
• Cash-on-cash: 2.41%
• DSCR: 1.11
• GRM: 8.8

CMA / ARV

• ARV (median comp): $277,130
• List price: $254,900
• Delta: -8.02%
• Verdict: FAIR
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
37 Peoria St	0.06mi	4/2.0	2,148 (+8%)	6mo	$138,000	$64	78
2112 Niagara St	0.19mi	5/2.0 (+1)	2,020 (+2%)	14mo	$163,000	$81	71
181 Gorton St	0.28mi	4/2.0	1,864 (-6%)	11mo	$109,000	$58	68
29 Hunt Ave	0.37mi	4/2.0	2,026 (+2%)	20mo	$185,000	$91	62
18 Lamont Pl	0.37mi	5/2.0 (+1)	1,848 (-7%)	12mo	$220,000	$119	57
14 Collaton St	0.37mi	4/2.0	1,708 (-14%)	9mo	$105,000	$61	53
227 Crowley Ave	0.69mi	3/2.0 (-1)	1,909 (-4%)	6mo	$155,000	$81	52
85 Gallatin Ave	0.44mi	5/2.0 (+1)	2,092 (+6%)	16mo	$195,000	$93	51
63 Mayer Ave	0.49mi	5/2.0 (+1)	1,912 (-3%)	18mo	$230,000	$120	51
24 Briggs Ave	0.51mi	4/2.0	2,192 (+11%)	13mo	$211,000	$96	47
561-63 Military Rd	0.69mi	4/2.0	1,812 (-8%)	14mo	$350,000	$193	42
128 Crowley Ave	0.73mi	4/2.0	2,080 (+5%)	20mo	$198,000	$95	41

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

-3.0% appreciation · 8.0% rent growth · sell at horizon

5-year hold

• IRR: -7.0%
• Equity multiple: 0.73×
• Total profit: $-19,411
• Equity at exit: $38,006

10-year hold

• IRR: 8.0%
• Equity multiple: 1.74×
• Total profit: $52,976
• Equity at exit: $22,039

Cash invested: $71,372 (down + closing). Projections, not guarantees.

Landlord ↔ Tenant lean methodology

• Overall (STATE): 15 Strongly Tenant-Friendly
• State New York: 15 Strongly Tenant-Friendly · D+10
• County: — inherits STATE
• City: — inherits STATE

NYC rent stabilization (~1M units); 2019 HSTPA strengthened tenant rights; courts deeply backlogged.

Methodology + full state rankings →

ZIP-level market 14207

• Home prices YoY: -18.9%
• Rents YoY: 8.2%
• Active inventory: 197
• Price-to-rent: 17.6×

Monthly cashflow live

• Estimated rent: $2,411 high
• Mortgage (P&I): −$1,337
• Tax est. 1.5%: −$319 /mo · $3,824/yr
• Insurance: −$106
• HOA: −$0
• Vacancy / Maint / Mgmt: −$506
• Net cashflow: $143

Break-even live

Break-even rent $2,230

Max offer price $254,900

Occupancy floor 89%

2-unit breakdown (identical units grouped — click to expand)

Units	Beds	Baths	Est. rent
▸ 2× units	2	1	$2,410
Total (2 units)			$2,411

UW: 25.0% down · 7.5% · 30yr · 1.5% tax · 5.0% vac · 8.0% maint · 8.0% mgmt

Financing live

Cash to close

• Down payment: $63,725
• Closing costs: $7,647
• Reserves months: —
• Total cash needed: —

Rent comps 6 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
78 Germain St Buffalo, NY	3.0	1.0	2030	$1,300	$0.64	14d	1	0.82mi
62 Germain St Buffalo, NY	3.0	1.0	1320	$1,250	$0.95	23d	1	0.84mi
61 Baxter St Buffalo, NY	3.0	1.0	2014	$1,400	$0.70	1d	1	1.00mi
100 Forest Ave Buffalo, NY	2.0–4.0	2.0–4.0	1304	$2,560	$1.96	1d	14	1.17mi
139 Fordham Dr Buffalo, NY	3.0	1.0	1453	$1,700	$1.17	23d	1	1.38mi
62 Seabrook St Buffalo, NY	4.0	1.0	1300	$2,000	$1.54	1d	1	1.41mi

Listing history 22 events

1. 2026-06-18
   days on market $254,900 Active 61 DOM
2. 2026-06-17
   days on market $254,900 Active 60 DOM
3. 2026-06-16
   pricedays on market $254,900 Active 59 DOM
4. 2026-06-15
   days on market $264,900 Active 58 DOM
5. 2026-06-13
   days on market $264,900 Active 56 DOM
6. 2026-06-13
   days on market $264,900 Active 55 DOM
7. 2026-06-10
   days on market $264,900 Active 53 DOM
8. 2026-06-09
   days on market $264,900 Active 52 DOM
9. 2026-06-08
   days on market $264,900 Active 51 DOM
10. 2026-06-07
    days on market $264,900 Active 50 DOM
11. 2026-06-03
    days on market $264,900 Active 46 DOM
12. 2026-06-02
    days on market $264,900 Active 45 DOM
13. 2026-06-01
    days on market $264,900 Active 44 DOM
14. 2026-05-31
    days on market $264,900 Active 43 DOM
15. 2026-04-27
    price $264,900 612-char remark

    Show marketing remark (612 chars)

    FULLY RENOVATED! 25 Hartman Place. Completely redone from top to bottom—this is a true move-in ready home with everything BRAND NEW! New heating system, All new electrical & plumbing (fully replaced), 2 brand new kitchens, 2 fully updated bathrooms. New flooring throughout, Dry basement with new concrete floor, Fresh paint inside & outside, driveway garage available! Perfect for homeowners or investors! Vacant – Easy to show. Open Houses 4/18 1-3pm and 4/19 11am-1pm.  •   Offers will be received as they are submitted. Owner is a licensed real estate agent.

16. 2026-04-14
    listed $274,900 Active 612-char remark

    Show marketing remark (612 chars)

    FULLY RENOVATED! 25 Hartman Place. Completely redone from top to bottom—this is a true move-in ready home with everything BRAND NEW! New heating system, All new electrical & plumbing (fully replaced), 2 brand new kitchens, 2 fully updated bathrooms. New flooring throughout, Dry basement with new concrete floor, Fresh paint inside & outside, driveway garage available! Perfect for homeowners or investors! Vacant – Easy to show. Open Houses 4/18 1-3pm and 4/19 11am-1pm.  •   Offers will be received as they are submitted. Owner is a licensed real estate agent.

17. 2025-08-21
    soldstatus $95,000
18. 2025-08-19
    soldstatus $95,000 Closed 565-char remark

    Show marketing remark (565 chars)

    Investor Special Opportunity! This classic 2-family home features a 2 bed/1 bath upper and 2 bed/1 bath lower unit—perfect for rental income or live-in renovation. While the property needs updates, it already has big-ticket improvements completed: a brand-new roof with transferable warranty and a rebuilt second-floor porch. With a little vision and sweat equity, this home could shine! Enjoy the added bonus of a private driveway and detached garage. Located in a growing area with strong rental potential, this is a great chance to build equity and value.

19. 2025-05-21
    status Pending 565-char remark

    Show marketing remark (565 chars)

    Investor Special Opportunity! This classic 2-family home features a 2 bed/1 bath upper and 2 bed/1 bath lower unit—perfect for rental income or live-in renovation. While the property needs updates, it already has big-ticket improvements completed: a brand-new roof with transferable warranty and a rebuilt second-floor porch. With a little vision and sweat equity, this home could shine! Enjoy the added bonus of a private driveway and detached garage. Located in a growing area with strong rental potential, this is a great chance to build equity and value.

20. 2025-05-19
    listed $84,900 Active 565-char remark

    Show marketing remark (565 chars)

    Investor Special Opportunity! This classic 2-family home features a 2 bed/1 bath upper and 2 bed/1 bath lower unit—perfect for rental income or live-in renovation. While the property needs updates, it already has big-ticket improvements completed: a brand-new roof with transferable warranty and a rebuilt second-floor porch. With a little vision and sweat equity, this home could shine! Enjoy the added bonus of a private driveway and detached garage. Located in a growing area with strong rental potential, this is a great chance to build equity and value.

21. 2022-04-13
    soldstatus $27,500
22. 1996-09-12
    soldstatus $40,000

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Climate risk First Street

• 🌊 Flood 1/10 Low FEMA zone X (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 3/10 Moderate 7 d/yr ≥93°F today · 15 d/yr by 30 yrs out
• 💨 Wind 1/10 Low
• 🫁 Air quality 4/10 Moderate 4 unhealthy d/yr today · 9 by 30 yrs out

Taxation est. · year 1

• Rental income: $28,932
• − Mortgage interest: −$14,278
• − Property taxes: −$3,824
• − Insurance: −$1,274
• − Repairs & maintenance: −$2,315
• − Management: −$2,315
• − Depreciation: −$7,415
• Taxable loss: −$2,489
• Est. tax savings @ 24.0%: +$597
• After-tax cash flow: $2,315/yr

For passive investors: Depreciation is non-cash, so a rental often shows a tax loss while cash-flowing — sheltering income. Rental losses are passive: they offset passive income freely, and up to $25,000/yr can offset ordinary (W-2) income if you actively participate and your MAGI is under $100k (phasing out to $0 by $150k); unused losses carry forward. On sale, claimed depreciation is recaptured at up to 25%, and gains may owe capital-gains tax (a 1031 exchange can defer both). Figures are a year-1 estimate at your 24.0% rate — not tax advice; consult a CPA.

Schools (NCES district)

• District: Buffalo City School District
• NCES district ID: 3605850
• Math proficiency: 41% ▲ 11.00%
• Reading proficiency: 40% ▲ 7.00%
• Median HH income: $31,665
• Composite: 33.17/100
• National rank: #5544
• State rank: #535 of 590 in NY

Livability — Buffalo

• Score: 77/100
• State rank: #195
• US rank: #3011

Category grades

Amenities A Commute A+ Cost of living A Crime F Employment D- Housing A+ Health & safety A+ User ratings F

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Buffalo, NY
• County: Erie County · 714,559 people
• City population: 440,021
• Metro: Buffalo-Cheektowaga, NY
• Population (ZIP): 26,327
• Household income: $39,753
• Rent vs Own: 65.0% rent · 35.0% own
• Severe rent burden: 2177.0

Population outlook (Erie County) Hauer SSP2

• Today (2025): 933,037 people
• By 2030: 935,181 · +0.2%
• By 2040: 928,531 · -0.5%
• By 2050: 905,725 · -2.9%
• By 2075: 834,037 · -10.6%
• By 2100: 708,033 · -24.1%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Highly diverse neighborhood (Simpson 0.74)
• Race & ethnicity: White 40% Hispanic / Latino 23% Black 16% Asian 15% Two or more races 14%
• Hispanic origin (detail): Puerto Rican 18% Dominican 2%
• Common ancestry: Romanian 8% Portuguese 1% Arab 1%
• Foreign-born: 19% · Philippines, Canada, India
• Languages at home: 65% English-only · Spanish 14% Other Asian/Pacific 10% Other Indo-European 5%

Political lean MEDSL · Erie

• 2024 margin: Lean D (+9.7) · D 54.8% · R 45.2%
• 2008→2024 swing: -7.9pp toward R · 2008: 17.5pp · 2024: 9.7pp
• All cycles: 2024: D+9.7 2020: D+14.7 2016: D+4.8 2012: D+15.6 2008: D+17.5

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -54.42%
• Current HPI: 233.0902
• Rent YoY: ▲ 8.19%
• Metro: Buffalo-Cheektowaga, NY
• State GDP YoY: ▲ 2.60%
• F500 in state: 92

Industry mix (Fortune 500 HQ in NY)

Industry	F500 HQs	Revenue
▸Financial Services	10	$950B
▸Consumer Goods	9	$162B
▸Insurance	4	$225B
▸Telecommunications	2	$144B
▸Pharmaceuticals	2	$112B
▸Media / Entertainment	2	$69B

Price history

+562.2% since first listed

8 events — show timeline

• 2026-04-27 Price Changed $264,900 WNYREIS
• 2026-04-14 Listed $274,900 WNYREIS
• 2025-08-21 Sold (Public Records) $95,000 Public Records
• 2025-08-19 Sold (MLS) $95,000 WNYREIS
• 2025-05-21 Pending — WNYREIS
• 2025-05-19 Listed $84,900 WNYREIS
• 2022-04-13 Sold (Public Records) $27,500 Public Records
• 1996-09-12 Sold (Public Records) $40,000 Public Records

Property tax history

+4.0%/yr

Latest (2025): $376 · +0.0% YoY. Source: county tax records.