259 Davey St · Buffalo, NY 14206

$159,900

2 bd · 1.0 ba · 1,222 sqft · SingleFamily public records · 16 Days on market

Built 1920 4,020 sqft lot $131/sqft · 17% below area Est $192k · 17% under

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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).

• ARV discount +15.0/15.0
• Cash flow +14.7/30.0
• Appreciation +9.0/10.0
• DSCR +4.5/10.0
• Livability +3.9/5.0
• Schools +3.3/10.0
• 1% rule +2.8/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0

Listing remarks

Welcome to 259 Davey Street, a charming single-family home offering exceptional value in Buffalo’s Lovejoy neighborhood. This well-maintained property blends classic character with thoughtful modern updates, making it a great opportunity for both homeowners and investors. The home features a wide-open living area with beautiful flooring throughout, including hardwood, tile, and vinyl. The spacious kitchen includes a convenient island, perfect for cooking and entertaining. With 3 bedrooms and 1 full bathroom, including a first-floor bedroom, the layout offers flexibility and comfort for everyday living. Step outside to a fully fenced backyard, ideal for relaxing, pets, or gatherings. T

Key facts

• Blacktop driveway
• 4,020 sq ft lot
• Garage

Tags

• WIDE-OPEN LIVING AREA
• FULLY FENCED BACKYARD
• DETACHED ONE-CAR GARAGE
• ADDITIONAL STORAGE SHED
• ALUMINUM AND VINYL SIDING
• BLACKTOP DRIVEWAY

Property features AI

Finance

• HOA & community: Trails/paths nearby

Exterior

• Parking: Detached garage; One garage space
• Utilities: Public water connected; Sewer connected; Circuit breaker electric
• Home design: Two-story house; Existing structure; Vinyl siding; Stone foundation; Asphalt roof
• Construction: Vinyl siding; PEX plumbing
• Exterior features: Blacktop driveway; City street frontage; Rectangular residential lot (approx. 30 x 134)

Interior

• Kitchen: Kitchen (first level)
• Bedrooms: Bedroom on main level; Three bedrooms total (two on second level, one on first level)
• Flooring: Tile; Vinyl; Varies
• Bathrooms: One full bathroom (main level)
• Heating & cooling: Gas forced-air heating
• Interior features: Accessible doors; Partially furnished; Separate/formal dining room; Crawl space basement
• Laundry & utility: Laundry in basement; Gas water heater

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $160k.

Deal economics

• At list price, monthly cash flow is $41 ($496/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 $124k (22.4% below list).
• Recommended offer: $124k (22.4% 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; 6 comparable units currently listed for rent nearby; rentals lingering (median 44d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 50% of comp listings sitting > 30 days — soft ceiling on asking rent; 1,244 units permitted in Erie County in 2024 (563 in 5+ unit buildings).

Forward outlook

• In year one you build about $14k of equity ($1k loan paydown + $13k appreciation (8.1% local appreciation)).
• At projected returns (8.1% appreciation + 3.0% rent growth), your $45k cash investment doubles in ~3 years — after that, you're playing with house money.
• By year 3, paydown + projected appreciation supports a ~$35k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 16 days — a 2% lower offer ($158k) is reasonable based on typical stale-listing flexibility.
• 6 sale attempts since 14y 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 $65k; list at $160k implies a 146% 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 $124,132 (22.4% below list)

Questions for the listing agent

1. Built in 1920 — 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: 0.78% ✗
• Cap rate: 6.60%
• Cash-on-cash: 1.11%
• DSCR: 1.05
• GRM: 10.7

CMA / ARV

• ARV (median comp): $191,996
• List price: $159,900
• Delta: -16.72%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
74 Vanderbilt St	0.17mi	3/1.0 (+1)	1,136 (-7%)	3mo	$105,000	$92	73
391 Greene St	0.39mi	3/1.0 (+1)	1,144 (-6%)	2mo	$200,000	$175	64
67 Gold St	0.37mi	3/2.0 (+1)	1,183 (-3%)	8mo	$103,500	$87	62
379 N Ogden St Unit E	0.28mi	3/1.0 (+1)	1,083 (-11%)	3mo	$160,000	$148	61
232 Boll St	0.73mi	3/1.0 (+1)	1,224 (+0%)	1mo	$240,000	$196	60
307 Benzinger St	0.16mi	3/3.0 (+1)	1,363 (+12%)	2mo	$247,000	$181	59
105 Regent St	0.34mi	3/2.0 (+1)	1,138 (-7%)	6mo	$110,000	$97	59
317 Atlantic Ave	0.45mi	3/1.0 (+1)	1,095 (-10%)	3mo	$174,900	$160	55
57 N Ogden St	0.39mi	3/2.0 (+1)	1,350 (+10%)	1mo	$120,000	$89	54
133 Halstead Ave Ave	0.52mi	3/1.0 (+1)	1,320 (+8%)	5mo	$235,000	$178	53
215 Curtiss St	0.64mi	3/1.0 (+1)	1,160 (-5%)	7mo	$240,000	$207	51
43 Ludington St	0.57mi	3/2.0 (+1)	1,364 (+12%)	8mo	$90,000	$66	39

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: 20.9%
• Equity multiple: 2.54×
• Total profit: $69,018
• Equity at exit: $122,116

10-year hold

• IRR: 19.3%
• Equity multiple: 5.43×
• Total profit: $198,145
• Equity at exit: $243,007

Cash invested: $44,772 (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: 10.7×

Monthly cashflow live

• Estimated rent: $1,241 high
• Mortgage (P&I): −$839
• Tax from tax record: −$34 /mo · $409/yr
• Insurance: −$67
• HOA: −$0
• Vacancy / Maint / Mgmt: −$261
• Net cashflow: $41

Break-even live

Break-even rent $1,189

Max offer price $159,900

Occupancy floor 92%

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: $39,975
• Closing costs: $4,797
• Reserves months: —
• Total cash needed: —

Rent comps 6 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1777 Broadway Unit 2 Buffalo, NY	3.0	1.0	1300	$1,200	$0.92	43d	1	0.48mi
24 Euclid Ave Buffalo, NY	3.0	2.0	1150	$1,700	$1.48	43d	1	1.13mi
1202 Walden Ave Unit 3 Buffalo, NY	3.0	1.0	1500	$1,400	$0.93	17d	1	1.22mi
1202 Walden Ave Unit 2 Buffalo, NY	3.0	1.0	800	$1,350	$1.69	43d	1	1.22mi
67 Moeller St Unit LOWER Buffalo, NY	3.0	1.0	960	$1,200	$1.25	23d	1	1.33mi
67 Moeller St Unit UPPER Buffalo, NY	3.0	1.0	960	$1,000	$1.04	3d	1	1.33mi

Listing history 22 events

1. 2026-06-18
   days on market $159,900 Active 16 DOM
2. 2026-06-17
   days on market $159,900 Active 15 DOM
3. 2026-06-16
   days on market $159,900 Active 14 DOM
4. 2026-06-15
   days on market $159,900 Active 13 DOM
5. 2026-06-13
   days on market $159,900 Active 11 DOM
6. 2026-06-13
   days on market $159,900 Active 10 DOM
7. 2026-06-10
   days on market $159,900 Active 8 DOM
8. 2026-06-09
   days on market $159,900 Active 7 DOM
9. 2026-06-08
   days on market $159,900 Active 6 DOM
10. 2026-06-07
    days on market $159,900 Active 5 DOM
11. 2026-06-02
    days on marketlisting id $159,900 Active 1 DOM
12. 2026-05-14
    status Active 1120-char remark
13. 2026-05-12
    historical Active Under Contract 1120-char remark
14. 2026-05-08
    listed $159,900 Active 1120-char remark
15. 2026-01-30
    historical
16. 2025-10-31
    listed $129,900 Active
17. 2020-11-20
    soldstatus $65,000 Closed Sale or Rented
18. 2020-11-20
    soldstatus $65,000
19. 2020-10-05
    status Under Contract- Do Not Show
20. 2020-09-18
    listed $70,000 Active
21. 2012-08-17
    listed $57,000
22. 2009-12-11
    soldstatus $24,500

ⓘ 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: $409 · $34/mo
• Projected year-2 tax: $1,556 · $130/mo
• Expected delta: +$1,146/yr (+$96/mo · 280.0%)

ⓘ 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: $14,896
• − Mortgage interest: −$8,957
• − Property taxes: −$409
• − Insurance: −$800
• − Repairs & maintenance: −$1,192
• − Management: −$1,192
• − Depreciation: −$4,652
• Taxable loss: −$2,305
• Est. tax savings @ 24.0%: +$553
• After-tax cash flow: $1,050/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

+552.7% since first listed

13 events — show timeline

• 2026-06-02 Listed $159,900 WNYREIS
• 2026-05-25 Listing Removed — WNYREIS
• 2026-05-14 Relisted — WNYREIS
• 2026-05-12 Contingent — WNYREIS
• 2026-05-08 Listed $159,900 WNYREIS
• 2026-01-30 Listing Removed — WNYREIS
• 2025-10-31 Listed $129,900 WNYREIS
• 2020-11-20 Sold (Public Records) $65,000 Public Records
• 2020-11-20 Sold (MLS) $65,000 WNYREIS
• 2020-10-05 Pending — WNYREIS
• 2020-09-18 Listed $70,000 WNYREIS
• 2012-08-17 Listed $57,000 WNYREIS
• 2009-12-11 Sold (Public Records) $24,500 Public Records

Property tax history

+4.8%/yr

Latest (2025): $409 · +12.4% YoY. Source: county tax records.