112 Hazelwood Ave · Buffalo, NY 14215

$99,999

4 bd · 2.0 ba · 1,498 sqft · MultiFamily public records · 31 Days on market

Built 1937 3,000 sqft lot Est $148k · 33% under

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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 +30.0/30.0
• ARV discount +15.0/15.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• 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

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

INVESTORS! THIS ONE WON'T LAST LONG! WONDERFUL TENANTS WISH TO STAY. TENANTS KEEP UNITS IN GOOD CONDITION! ROOF 5 YEARS. SEPARATE UTILITIES.

Key facts

• Buffalo neighborhood
• Close to schools
• Upper-lower home

Tags

• MULTI-FAMILY PROPERTY
• INVESTMENT PORTFOLIO
• UPPER-LOWER HOME
• BUFFALO NEIGHBORHOOD
• CLOSE TO SCHOOLS
• CLOSE TO SHOPPING

What this means for you Summary

Snapshot

• This is a 4-bed/2.0-bath multifamily listed at $100k.

Deal economics

• At list price, monthly cash flow is $1k ($15k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $100k).
• Recommended offer: $97k (3.0% below list) — sets the bar for market timing.
• Cap rate 21.5% vs local median 8.0% in Buffalo — top-decile yield for the area; either an underpriced asset or a hidden risk that comps aren't pricing in. Stress-test before assuming the spread holds.

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; 13 comparable units currently listed for rent nearby; rentals at typical pace (median 17d 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 $2,337/mo this rent would consume 62% 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 $691 of loan paydown is wiped out by about $3k of value loss. Plan a longer hold.
• At projected returns (-3.0% appreciation + 0.7% rent growth), your $28k cash investment doubles in ~3 years — after that, you're playing with house money.

Negotiation context

• It's been on market 31 days — a 3% lower offer ($97k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 13y ago; this cycle's ask has dropped $33k (25%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Watch-outs: built in 1937 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $96,999 (3.0% below list)

Questions for the listing agent

1. It's been on market 31 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. Built in 1937 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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?
5. 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.
6. 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.
7. 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: 2.34% ✓
• Cap rate: 21.45%
• Cash-on-cash: 54.14%
• DSCR: 3.41
• GRM: 3.6

CMA / ARV

• ARV (on-the-fly): $148,302
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
112 Hazelwood Ave	0.00mi	4/2.0	1,498 (0%)	1mo	$87,000	$58	99
213 Hagen St	0.12mi	4/2.0	1,509 (+1%)	9mo	$150,000	$99	86
78 Freund St	0.27mi	4/2.0	1,426 (-5%)	3mo	$130,000	$91	77
124 Roma Ave	0.37mi	4/2.0	1,520 (+2%)	5mo	$235,000	$155	76
160 Courtland Ave	0.16mi	4/2.0	1,620 (+8%)	13mo	$160,000	$99	68
265 Hagen St	0.07mi	3/2.0 (-1)	1,344 (-10%)	8mo	$172,000	$128	68
20 Ericson Ave	0.40mi	4/2.0	1,563 (+4%)	15mo	$123,000	$79	61
376 Norfolk Ave	0.72mi	4/2.0	1,536 (+2%)	3mo	$160,000	$104	59
121 Domedion Ave	0.43mi	5/2.0 (+1)	1,419 (-5%)	11mo	$80,000	$56	57
99 Sattler Ave	0.67mi	4/2.0	1,390 (-7%)	8mo	$82,500	$59	50
73 Oakmont Ave	0.73mi	4/2.0	1,616 (+8%)	6mo	$215,000	$133	48
9 Alma Ave	0.69mi	5/2.0 (+1)	1,630 (+9%)	9mo	$82,000	$50	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 · 0.67% rent growth · sell at horizon

5-year hold

• IRR: 49.8%
• Equity multiple: 3.10×
• Total profit: $58,873
• Equity at exit: $14,910

10-year hold

• IRR: 54.3%
• Equity multiple: 5.78×
• Total profit: $133,779
• Equity at exit: $8,646

Cash invested: $28,000 (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: 7.1×

Monthly cashflow live

• Estimated rent: $2,337 medium
• Mortgage (P&I): −$524
• Tax from tax record: −$17 /mo · $202/yr
• Insurance: −$42
• HOA: −$0
• Vacancy / Maint / Mgmt: −$491
• Net cashflow: $1,263

Break-even live

Break-even rent $738

Max offer price $99,999

Occupancy floor 41%

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

Units	Beds	Baths	Est. rent
▸ 2× units	2	1	$2,336
Total (2 units)			$2,337

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: $25,000
• Closing costs: $3,000
• Reserves months: —
• Total cash needed: —

Rent comps 13 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
85 Blake St Unit 1 Buffalo, NY	4.0	2.0	1022	$1,000	$0.98	43d	1	0.47mi
65 Domedion Ave Buffalo, NY	3.0	1.0	1632	$1,500	$0.92	1d	1	0.51mi
74 Dorris Ave Buffalo, NY	3.0	1.0	1200	$1,450	$1.21	43d	1	0.57mi
67 Moeller St Unit UPPER Buffalo, NY	3.0	1.0	960	$1,000	$1.04	3d	1	0.85mi
67 Moeller St Unit LOWER Buffalo, NY	3.0	1.0	960	$1,200	$1.25	23d	1	0.85mi
24 Euclid Ave Buffalo, NY	3.0	2.0	1150	$1,700	$1.48	43d	1	1.06mi
97 Davidson Ave Buffalo, NY	3.0	1.0	925	$1,495	$1.62	1d	1	1.06mi
979 Walden Ave Buffalo, NY	4.0	3.0	1793	$2,000	$1.12	1d	1	1.11mi
517 Goodyear Ave Buffalo, NY	3.0	1.0	1559	$1,800	$1.15	19d	1	1.15mi
143 Reo Ave Buffalo, NY	3.0	2.0	1143	$1,600	$1.40	11d	1	1.16mi
1202 Walden Ave Unit 3 Buffalo, NY	3.0	1.0	1500	$1,400	$0.93	17d	1	1.24mi
189 Westminster Ave Buffalo, NY	4.0	1.5	1065	$1,595	$1.50	10d	1	1.34mi
140 Parkridge Ave Buffalo, NY	3.0	1.0	990	$1,500	$1.52	43d	1	1.41mi

Listing history 10 events

1. 2026-04-20
   status Pending
2. 2026-03-27
   price $99,999
3. 2026-03-20
   listed $133,000 Active
4. 2026-03-20
   historical
5. 2025-12-12
   price $136,900
6. 2025-09-17
   listed $144,900 Active
7. 2015-06-24
   soldstatus $107,000
8. 2013-08-22
   soldstatus $21,000 143-char remark

   Show marketing remark (143 chars)

   INVESTORS! THIS ONE WON'T LAST LONG! WONDERFUL TENANTS WISH TO STAY. TENANTS KEEP UNITS IN GOOD CONDITION! ROOF 5 YEARS. SEPARATE UTILITIES.

9. 2013-08-22
   soldstatus $21,000

   Show marketing remark (143 chars)

   INVESTORS! THIS ONE WON'T LAST LONG! WONDERFUL TENANTS WISH TO STAY. TENANTS KEEP UNITS IN GOOD CONDITION! ROOF 5 YEARS. SEPARATE UTILITIES.

10. 2013-06-10
    listed $24,900 143-char remark

    Show marketing remark (143 chars)

    INVESTORS! THIS ONE WON'T LAST LONG! WONDERFUL TENANTS WISH TO STAY. TENANTS KEEP UNITS IN GOOD CONDITION! ROOF 5 YEARS. SEPARATE UTILITIES.

ⓘ 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: $202 · $17/mo
• Projected year-2 tax: $946 · $79/mo
• Expected delta: +$744/yr (+$62/mo · 368.8%)

ⓘ 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) · 24% 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: $28,044
• − Mortgage interest: −$5,601
• − Property taxes: −$202
• − Insurance: −$500
• − Repairs & maintenance: −$2,244
• − Management: −$2,244
• − Depreciation: −$2,909
• Taxable income: $14,345
• Est. tax owed @ 24.0%: −$3,443
• After-tax cash flow: $11,717/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

+301.6% since first listed

10 events — show timeline

• 2026-04-20 Pending — WNYREIS
• 2026-03-27 Price Changed $99,999 WNYREIS
• 2026-03-20 Listing Removed — WNYREIS
• 2026-03-20 Listed $133,000 WNYREIS
• 2025-12-12 Price Changed $136,900 WNYREIS
• 2025-09-17 Listed $144,900 WNYREIS
• 2015-06-24 Sold (Public Records) $107,000 Public Records
• 2013-08-22 Sold (Public Records) $21,000 Public Records
• 2013-08-22 Sold (MLS) $21,000 WNYREIS
• 2013-06-10 Listed $24,900 WNYREIS

Property tax history

+0.9%/yr

Latest (2025): $202 · +0.0% YoY. Source: county tax records.