181 Wyoming Ave · Buffalo, NY 14215

$163,000

6 bd · 2.0 ba · 2,140 sqft · Townhouse public records · 12 Days on market

Built 1923 3,894 sqft lot $76/sqft · 16% below area Est $193k · 16% under

---

Why this score? — see what drove the B- 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 +27.2/30.0
• ARV discount +14.5/15.0
• DSCR +9.5/10.0
• 1% rule +6.1/10.0
• Livability +3.9/5.0
• Schools +3.3/10.0
• Rent growth +2.7/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Opportunity awaits at 181 Wyoming Ave in Buffalo! This 3/3 double offers solid bones and plenty of potential for an owner-occupant or investor looking to add value. Each unit features 3 bedrooms and 1 bath, providing spacious layouts and strong income possibilities. The property could use some TLC, but the fundamentals are there to make this a smart investment. Outside, you’ll find a 2-car garage and a fully fenced yard, adding convenience and appeal for future tenants or homeowners. Whether you’re looking to renovate and rent, or restore and reside, this double is full of promise in a convenient Buffalo location.

Key facts

• Spacious layouts
• Solid bones
• 2 car garage

Tags

• 2 CAR GARAGE
• FULLY FENCED YARD
• SPACIOUS LAYOUTS
• STRONG INCOME POSSIBILITIES
• SOLID BONES

Property features AI

Finance

• Other: Operating expense details referenced in remarks
• Financial info: Owner pays snow removal and water; Tenant pays all utilities; One unit reported with $500 rent (month-to-month); Multi-unit property with 2 total units, separate gas and electric meters for each unit

Exterior

• Parking: Detached or attached garage not specified, includes a 2-car garage; Paved parking; Two or more parking spaces
• Security: Fully fenced
• Utilities: Electricity available; Public water connected; Sewer connected
• Home design: 2-story property; Existing structure; Residential 2-unit zoning
• Construction: Shake siding exterior; Asphalt roof; Poured foundation; Resale condition
• Exterior features: Awning(s); Open porch; Fully fenced yard; Full fencing; Near public transit; Rectangular residential lot; City street frontage

Interior

• Kitchen: No specific kitchen appliance list provided
• Bedrooms: One unit with 3 bedrooms; One unit with 2 bedrooms
• Flooring: Hardwood; Laminate; Varies
• Bathrooms: Two full bathrooms (total)
• Heating & cooling: Gas forced-air heating
• Interior features: Hardwood, laminate, and varied flooring throughout; Gas water heater
• Laundry & utility: Washer hookup

What this means for you Summary

Snapshot

• This is a 6-bed/2.0-bath townhouse listed at $163k.

Deal economics

• At list price, monthly cash flow is $466 ($6k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $163k).
• Cap rate 9.7% vs local median 8.0% in Buffalo — meaningfully above typical; check what's discounted (condition, days-on-market, listing class) to confirm the premium yield is real.

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 flat; 237 active listings in the ZIP; lower-income renter base — watch delinquency; 1,244 units permitted in Erie County in 2024 (563 in 5+ unit buildings).
• At $1,805/mo this rent would consume 48% of the median local household income ($45k/yr) (locally 2873% 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 $1k of loan paydown is wiped out by about $5k of value loss. Plan a longer hold.

Negotiation context

• Only 12 days on market — expect competitive offers; lowballing is unlikely to land.

Risks & watch-outs

• Watch-outs: built in 1923 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $163,000

Questions for the listing agent

1. Built in 1923 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. 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?
4. 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.
5. 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.
6. How much new for-sale + rental construction is in the pipeline within 1–3 miles? Heavy new supply typically softens prices + rents 12–24 months out; constrained supply supports both.

Investment metrics

• 1% rule: 1.11% ✓
• Cap rate: 9.72%
• Cash-on-cash: 12.25%
• DSCR: 1.55
• GRM: 7.5

CMA / ARV

• ARV (median comp): $193,000
• List price: $163,000
• Delta: -15.54%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 6 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1314 E Ferry St Unit N	0.53mi	6/2.0	2,122 (-1%)	4mo	$166,000	$78	71
417 Cambridge Ave	0.45mi	6/2.0	1,960 (-8%)	1mo	$220,000	$112	64
411 Cambridge Ave	0.44mi	6/2.0	1,960 (-8%)	3mo	$235,000	$120	63
517 Goodyear Ave	0.65mi	6/2.0	1,926 (-10%)	3mo	$257,000	$133	51
32 Roslyn St	0.74mi	5/2.0 (-1)	2,048 (-4%)	3mo	$133,000	$65	51
24 Nevada Ave	0.64mi	6/2.0	2,266 (+6%)	18mo	$95,000	$42	45

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 · 0.67% rent growth · sell at horizon

5-year hold

• IRR: -0.6%
• Equity multiple: 0.98×
• Total profit: $-945
• Equity at exit: $24,304

10-year hold

• IRR: 6.8%
• Equity multiple: 1.46×
• Total profit: $20,892
• Equity at exit: $14,093

Cash invested: $45,640 (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 14215

• Home prices YoY: -30.0%
• Rents YoY: 0.7%
• Active inventory: 237
• Price-to-rent: 7.5×

Monthly cashflow live

• Estimated rent: $1,805 medium
• Mortgage (P&I): −$855
• Tax from tax record: −$37 /mo · $449/yr
• Insurance: −$68
• HOA: −$0
• Vacancy / Maint / Mgmt: −$379
• Net cashflow: $466

Break-even live

Break-even rent $1,215

Max offer price $163,000

Occupancy floor 69%

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: $40,750
• Closing costs: $4,890
• Reserves months: —
• Total cash needed: —

Listing history 2 events

1. 2026-05-16
   status Pending 633-char remark
2. 2026-05-03
   listed $163,000 Active 633-char remark

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

Tax reassessment forecast NY · Partial reset (capped growth)

• Current annual tax: $449 · $37/mo
• Projected year-2 tax: $1,602 · $133/mo
• Expected delta: +$1,153/yr (+$96/mo · 256.7%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Climate risk First Street

• 🌊 Flood 4/10 Moderate FEMA zone X (unshaded) · 21% 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 3/10 Moderate 2 unhealthy d/yr today · 3 by 30 yrs out

Taxation est. · year 1

• Rental income: $21,663
• − Mortgage interest: −$9,131
• − Property taxes: −$449
• − Insurance: −$815
• − Repairs & maintenance: −$1,733
• − Management: −$1,733
• − Depreciation: −$4,742
• Taxable income: $3,060
• Est. tax owed @ 24.0%: −$734
• After-tax cash flow: $4,857/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): 42,524
• Household income: $44,955
• Rent vs Own: 50.0% rent · 50.0% own
• Severe rent burden: 2873.0

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: Predominantly Black (67%)
• Race & ethnicity: Black 67% White 15% Asian 7% Hispanic / Latino 6% Two or more races 6%
• Hispanic origin (detail): Puerto Rican 4%
• Common ancestry: Romanian 4% Lithuanian 1% Italian 1%
• Foreign-born: 9% · Canada, China
• Languages at home: 88% English-only · Other Indo-European 4% Spanish 4% Chinese 1%

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: ▼ -126.29%
• Current HPI: 295.2966
• Rent YoY: ▲ 0.67%
• 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

2 events — show timeline

• 2026-05-16 Pending — WNYREIS
• 2026-05-03 Listed $163,000 WNYREIS

Property tax history

+14.3%/yr

Latest (2025): $449 · +142.8% YoY. Source: county tax records.