136 Milton St · Buffalo, NY 14210

$199,900

6 bd · 2.0 ba · 2,156 sqft · MultiFamily public records · 12 Days on market

Built 1900 4,375 sqft lot $93/sqft · 21% below area Est $253k · 21% 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 +16.7/30.0
• ARV discount +15.0/15.0
• Appreciation +10.0/10.0
• DSCR +5.2/10.0
• Rent growth +5.0/5.0
• 1% rule +4.5/10.0
• Livability +3.9/5.0
• Schools +3.3/10.0
• Condition / age +2.5/5.0

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

This beautiful multifamily listing offers an incredible blend of comfortable living space and convenience to everything, close to major highway & park. Presenting 3 spacious bedrooms, large and separate living and dining area. Standard size kitchen with separate kitchen pantry for storage. Decent bathroom in each apartment. This house is nicely upgraded, new flooring throughout, upgraded plumbing with pex line and many more. House has very clean full attic and full basement. Nothing needs to be done on this property, its just waiting on a new owner!

Key facts

• 4,375 sq ft lot
• Built 1900
• Listed 12 days

Property features AI

Finance

• Financial info: Owner pays hot water and water; Rent includes hot water and water; Professional management handles operating expenses; One unit listed with $1,300 rent

Exterior

• Parking: Off-site parking
• Utilities: Public water connected; Sewer connected; Cable available; Circuit breaker electric
• Home design: Two-story multi-family property; Existing condition
• Construction: Aluminum and vinyl siding; Architectural shingle roof; Block and stone foundation; Built (existing)
• Exterior features: Covered porch

Interior

• Kitchen: Oven/Range; Refrigerator
• Bedrooms: Two separate 3-bedroom units
• Flooring: Hardwood; Tile; Vinyl; Varied flooring
• Bathrooms: Two full bathrooms (one in each unit)
• Heating & cooling: Gas heating; Forced air; Space heater
• Interior features: Drapes and window treatments; Storm and thermal windows with wood frames; Natural woodwork; Storage
• Laundry & utility: Common area laundry; Gas water heater

What this means for you Summary

Snapshot

• This is a 6-bed/2.0-bath multifamily listed at $200k.

Deal economics

• At list price, monthly cash flow is $123 ($1k/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 $190k (4.7% below list).
• Recommended offer: $190k (4.7% 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: Rents rising fast (+12.7%/yr); 94 active listings in the ZIP; 1,244 units permitted in Erie County in 2024 (563 in 5+ unit buildings).
• This rent runs 42% of the median local income ($54k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Forward outlook

• In year one you build about $21k of equity ($1k loan paydown + $20k appreciation (10.0% local appreciation)).
• At projected returns (10.0% appreciation + 8.0% rent growth), your $56k cash investment doubles in ~3 years — after that, you're playing with house money.
• By year 2, paydown + projected appreciation supports a ~$34k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• Only 12 days on market — expect competitive offers; lowballing is unlikely to land.
• 4 sale attempts since 11y ago with the ask held roughly flat each time — persistent listings suggest the price (not the market) is what's stuck; bring a comps-based counter.
• Current owner paid $160k; 25% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Watch-outs: built in 1900 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $190,454 (4.7% below list)

Questions for the listing agent

1. Built in 1900 — 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 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: 7.03%
• Cash-on-cash: 2.64%
• DSCR: 1.12
• GRM: 8.7

CMA / ARV

• ARV (median comp): $252,888
• List price: $199,900
• Delta: -20.95%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 7 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
109 Baitz Ave	0.33mi	6/2.0	2,268 (+5%)	11mo	$75,000	$33	67
475 Babcock St	0.36mi	5/2.0 (-1)	2,288 (+6%)	12mo	$235,000	$103	58
100 Orlando St	0.45mi	6/2.0	2,076 (-4%)	17mo	$68,500	$33	58
1038 Clinton St	0.59mi	6/2.0	2,156 (0%)	18mo	$148,530	$69	58
138 Scoville Ave	0.37mi	5/2.0 (-1)	2,112 (-2%)	20mo	$128,000	$61	58
116 Baitz Ave	0.33mi	6/2.0	2,445 (+13%)	21mo	$185,000	$76	45
23 Archer Ave	0.59mi	5/2.0 (-1)	1,840 (-15%)	9mo	$230,000	$125	35

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

Projected returns pro-forma

10.0% appreciation · 8.0% rent growth · sell at horizon

5-year hold

• IRR: 28.1%
• Equity multiple: 3.27×
• Total profit: $126,806
• Equity at exit: $180,086

10-year hold

• IRR: 26.0%
• Equity multiple: 8.01×
• Total profit: $392,249
• Equity at exit: $388,362

Cash invested: $55,972 (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 14210

• Home prices YoY: 13.8%
• Rents YoY: 12.7%
• Active inventory: 94
• Price-to-rent: 8.7×

Monthly cashflow live

• Estimated rent: $1,905 medium
• Mortgage (P&I): −$1,048
• Tax est. 1.5%: −$250 /mo · $2,998/yr
• Insurance: −$83
• HOA: −$0
• Vacancy / Maint / Mgmt: −$400
• Net cashflow: $123

Break-even live

Break-even rent $1,749

Max offer price $199,900

Occupancy floor 89%

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: $49,975
• Closing costs: $5,997
• Reserves months: —
• Total cash needed: —

Listing history 11 events

1. 2026-05-05
   status Pending 495-char remark
2. 2026-04-23
   listed $199,900 Active 495-char remark
3. 2024-06-06
   soldstatus $160,000
4. 2024-05-31
   soldstatus $160,000 Closed 561-char remark

   Show marketing remark (561 chars)

   This beautiful multifamily listing offers an incredible blend of comfortable living space and convenience to everything, close to major highway & park. Presenting 3 spacious bedrooms, large and separate living and dining area. Standard size kitchen with separate kitchen pantry for storage. Decent bathroom in each apartment. This house is nicely upgraded, new flooring throughout, upgraded plumbing with pex line and many more. House has very clean full attic and full basement. Nothing needs to be done on this property, its just waiting on a new owner!

5. 2024-04-01
   status Pending 561-char remark

   Show marketing remark (561 chars)

   This beautiful multifamily listing offers an incredible blend of comfortable living space and convenience to everything, close to major highway & park. Presenting 3 spacious bedrooms, large and separate living and dining area. Standard size kitchen with separate kitchen pantry for storage. Decent bathroom in each apartment. This house is nicely upgraded, new flooring throughout, upgraded plumbing with pex line and many more. House has very clean full attic and full basement. Nothing needs to be done on this property, its just waiting on a new owner!

6. 2024-03-21
   price $169,000 561-char remark

   Show marketing remark (561 chars)

   This beautiful multifamily listing offers an incredible blend of comfortable living space and convenience to everything, close to major highway & park. Presenting 3 spacious bedrooms, large and separate living and dining area. Standard size kitchen with separate kitchen pantry for storage. Decent bathroom in each apartment. This house is nicely upgraded, new flooring throughout, upgraded plumbing with pex line and many more. House has very clean full attic and full basement. Nothing needs to be done on this property, its just waiting on a new owner!

7. 2024-02-02
   listed $169,900 Active 561-char remark

   Show marketing remark (561 chars)

   This beautiful multifamily listing offers an incredible blend of comfortable living space and convenience to everything, close to major highway & park. Presenting 3 spacious bedrooms, large and separate living and dining area. Standard size kitchen with separate kitchen pantry for storage. Decent bathroom in each apartment. This house is nicely upgraded, new flooring throughout, upgraded plumbing with pex line and many more. House has very clean full attic and full basement. Nothing needs to be done on this property, its just waiting on a new owner!

8. 2016-04-09
   historical
9. 2015-10-14
   listed $42,000 Active
10. 2015-10-02
    historical
11. 2015-05-13
    listed $44,900 Active

ⓘ 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 ≥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: $22,854
• − Mortgage interest: −$11,198
• − Property taxes: −$2,998
• − Insurance: −$1,000
• − Repairs & maintenance: −$1,828
• − Management: −$1,828
• − Depreciation: −$5,815
• Taxable loss: −$1,813
• Est. tax savings @ 24.0%: +$435
• After-tax cash flow: $1,913/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): 15,563
• Household income: $54,197
• Rent vs Own: 53.9% rent · 46.1% own
• Severe rent burden: 959.0

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 White (79%)
• Race & ethnicity: White 79% Two or more races 8% Black 8% Hispanic / Latino 7% Asian 1%
• Hispanic origin (detail): Puerto Rican 6%
• Common ancestry: Romanian 21% Lithuanian 2% Serbian 1%
• Foreign-born: 2% · Canada, China
• Languages at home: 95% English-only · Spanish 2% Arabic 1% Other Indo-European 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: ▲ 52.34%
• Current HPI: 431.7951
• Rent YoY: ▲ 12.67%
• 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

+345.2% since first listed

11 events — show timeline

• 2026-05-05 Pending — WNYREIS
• 2026-04-23 Listed $199,900 WNYREIS
• 2024-06-06 Sold (Public Records) $160,000 Public Records
• 2024-05-31 Sold (MLS) $160,000 WNYREIS
• 2024-04-01 Pending — WNYREIS
• 2024-03-21 Price Changed $169,000 WNYREIS
• 2024-02-02 Listed $169,900 WNYREIS
• 2016-04-09 Listing Removed — WNYREIS
• 2015-10-14 Listed $42,000 WNYREIS
• 2015-10-02 Listing Removed — WNYREIS
• 2015-05-13 Listed $44,900 WNYREIS

Property tax history

+3.9%/yr

Latest (2025): $314 · +36.5% YoY. Source: county tax records.