128 Weiss St · Buffalo, NY 14206

$204,900

5 bd · 2.0 ba · 2,048 sqft · Townhouse public records · 19 Days on market

Built 1886 6,000 sqft lot Est $197k · at est.

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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 +17.6/30.0
• Appreciation +9.0/10.0
• ARV discount +5.6/15.0
• DSCR +5.5/10.0
• Livability +3.9/5.0
• 1% rule +3.4/10.0
• Schools +3.3/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0

Listing remarks MLS

Solid investment property grossing $2000/month! The rear unit has a two-story layout, and the semi-finished attic above the front unit offers opportunity to expand. Updates in the rear unit include new furnace 2/24 and new HWT 7/24. Spacious yard and plenty of off-street parking. As a courtesy to the tenants, pictures in listing are from just before they took occupancy. EQUAL HOUSING OPPORTUNITY.

Key facts

• Hot water tank
• Separate utilities
• Double lot

Tags

• DOUBLE LOT
• SEPARATE UTILITIES
• ELECTRICAL SERVICE
• FURNACE
• HOT WATER TANK
• MAINTENANCE VINYL SIDING

Property features AI

Finance

• Financial info: Small multi-family (2 units) with separate gas and electric meters for each unit; Unit 1 rent: $1,350; Unit 2 rent: $900; Operating expenses include maintenance and water/sewer; Owner pays water

Exterior

• Parking: Detached 2-car garage; Concrete parking; Two or more parking spaces
• Utilities: Public water connected; Sewer connected
• Home design: 1-story building; Resale property; Vinyl siding
• Construction: Vinyl siding construction; Existing (previously built)
• Exterior features: Rectangular residential lot; City street frontage; Lot dimensions approximately 60 x 100

Interior

• Kitchen: Unit 1: Oven/Range, Refrigerator, Eat-in kitchen, Formal dining room; Unit 2: Oven/Range, Refrigerator, Eat-in kitchen
• Bedrooms: Unit 1: 3 bedrooms; Unit 2: 2 bedrooms
• Flooring: Carpet; Vinyl; Varies
• Bathrooms: Each unit has 1 full bathroom (2 total)
• Heating & cooling: Oil forced-air heating
• Interior features: Crawl space basement
• Laundry & utility: Gas water heater

What this means for you Summary

Snapshot

• This is a 5-bed/2.0-bath townhouse listed at $205k.

Deal economics

• At list price, monthly cash flow is $160 ($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 $173k (15.8% below list).
• Recommended offer: $173k (15.8% below list) — sets the bar for 1% rule.

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: 169 active listings in the ZIP; 1,244 units permitted in Erie County in 2024 (563 in 5+ unit buildings).
• This rent runs 41% of the median local income ($50k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Forward outlook

• In year one you build about $18k of equity ($1k loan paydown + $17k appreciation (8.1% local appreciation)).
• At projected returns (8.1% appreciation + 3.0% rent growth), your $57k cash investment doubles in ~3 years — after that, you're playing with house money.
• By year 3, paydown + projected appreciation supports a ~$45k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 19 days — a 2% lower offer ($202k) is reasonable based on typical stale-listing flexibility.
• 7 sale attempts since 12y ago; this cycle's ask is 8% above the opening price — seller raised mid-cycle; expect resistance to lowballs.
• Current owner paid $125k; list at $205k implies a 64% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1886 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $172,597 (15.8% below list)

Questions for the listing agent

1. Built in 1886 — 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: 0.84% ✗
• Cap rate: 7.23%
• Cash-on-cash: 3.35%
• DSCR: 1.15
• GRM: 9.9

CMA / ARV

• ARV (on-the-fly): $196,608
• Comps found: 2

Show comp detail 2 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
58 Roanoke Pkwy	0.72mi	5/2.0	2,344 (+14%)	6mo	$225,000	$96	38
19 Littell Ave	0.74mi	6/2.0 (+1)	1,950 (-5%)	18mo	$115,000	$59	38

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

Projected returns pro-forma

8.06% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 22.7%
• Equity multiple: 2.66×
• Total profit: $95,268
• Equity at exit: $156,482

10-year hold

• IRR: 20.7%
• Equity multiple: 5.68×
• Total profit: $268,646
• Equity at exit: $311,396

Cash invested: $57,372 (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 14206

• Home prices YoY: 1.8%
• Active inventory: 169
• Price-to-rent: 9.9×

Monthly cashflow live

• Estimated rent: $1,726 medium
• Mortgage (P&I): −$1,075
• Tax from tax record: −$43 /mo · $522/yr
• Insurance: −$85
• HOA: −$0
• Vacancy / Maint / Mgmt: −$362
• Net cashflow: $160

Break-even live

Break-even rent $1,523

Max offer price $204,900

Occupancy floor 86%

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: $51,225
• Closing costs: $6,147
• Reserves months: —
• Total cash needed: —

Listing history 17 events

1. 2026-06-18
   days on market $204,900 Active 19 DOM
2. 2026-06-17
   remarks 689-char remark
3. 2026-06-17
   price $204,900 Active 18 DOM
4. 2026-06-17
   days on market $189,900 Active 18 DOM
5. 2026-06-16
   days on market $189,900 Active 17 DOM
6. 2026-06-15
   days on market $189,900 Active 16 DOM
7. 2026-06-13
   days on market $189,900 Active 14 DOM
8. 2026-06-13
   days on market $189,900 Active 13 DOM
9. 2026-06-10
   days on market $189,900 Active 11 DOM
10. 2026-06-09
    days on market $189,900 Active 10 DOM
11. 2026-06-08
    days on market $189,900 Active 9 DOM
12. 2026-06-07
    days on market $189,900 Active 8 DOM
13. 2026-06-03
    days on market $189,900 Active 4 DOM
14. 2026-06-02
    days on market $189,900 Active 3 DOM
15. 2026-06-01
    days on market $189,900 Active 2 DOM
16. 2026-05-31
    remarks 612-char remark
17. 2026-05-31
    listed $189,900 Active 1 DOM

ⓘ 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: $522 · $43/mo
• Projected year-2 tax: $1,992 · $166/mo
• Expected delta: +$1,471/yr (+$123/mo · 281.8%)

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

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 ≥92°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: $20,712
• − Mortgage interest: −$11,478
• − Property taxes: −$522
• − Insurance: −$1,024
• − Repairs & maintenance: −$1,657
• − Management: −$1,657
• − Depreciation: −$5,961
• Taxable loss: −$1,587
• Est. tax savings @ 24.0%: +$381
• After-tax cash flow: $2,303/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): 21,631
• Household income: $50,450
• Rent vs Own: 39.3% rent · 60.7% own
• Severe rent burden: 841.0

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: Majority White (65%)
• Race & ethnicity: White 65% Hispanic / Latino 13% Black 12% Two or more races 8% Asian 4%
• Hispanic origin (detail): Mexican 2% Puerto Rican 10%
• Common ancestry: Romanian 25% Lithuanian 1% Italian 1%
• Foreign-born: 6% · Canada, China
• Languages at home: 88% English-only · Spanish 5% Other Indo-European 3% Arabic 2%

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: ▲ 8.06%
• Current HPI: 457.3935
• Rent YoY: —
• 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

+202.4% since first listed

18 events — show timeline

• 2026-05-30 Listed $189,900 WNYREIS
• 2024-11-12 Sold (Public Records) $125,000 Public Records
• 2024-11-08 Sold (MLS) $125,000 WNYREIS
• 2024-09-15 Pending — WNYREIS
• 2024-09-06 Relisted — WNYREIS
• 2024-08-23 Pending — WNYREIS
• 2024-08-13 Relisted — WNYREIS
• 2024-08-13 Price Changed $139,000 WNYREIS
• 2024-08-06 Pending — WNYREIS
• 2024-07-22 Listed $169,900 WNYREIS
• 2024-02-16 Rental Removed $1,200 BUILDIUM
• 2024-02-07 Listed for Rent $1,200 BUILDIUM
• 2023-12-14 Rental Removed $800 BUILDIUM
• 2023-12-06 Listed for Rent $800 BUILDIUM
• 2015-04-02 Sold (MLS) $65,000 WNYREIS
• 2015-02-26 Sold (Public Records) $65,000 Public Records
• 2014-07-14 Listed $70,000 WNYREIS
• 2008-10-15 Sold (Public Records) $62,800 Public Records

Property tax history

+4.3%/yr

Latest (2025): $522 · +27.5% YoY. Source: county tax records.