None · Buffalo, NY 14208

$205,900

6 bd · 2.0 ba · 2,552 sqft · MultiFamily · 56 Days on market

Built 1900 Good condition 5,610 sqft lot $81/sqft · 39% below area Est $340k · 39% under ↓ 21% since listing

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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
• Condition / age +3.8/5.0
• Rent growth +2.5/5.0
• Schools +1.9/10.0
• 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

Huge 3/3 double in wonderful location. Big room sizes. Lower has spacious sunporch. Artificial brick fireplaces in both units. All bedroom are great size with one bedroom having doors from dining room and hall. Nicely renovated baths in both units. Great sized basement . Circuit breakers. Newer roof. Driveway. Vinyl siding, Improvements include fresh paint through the interior of both units, ceramic tile in kitchens. All information is deemed reliable by but not guaranteed by listing broker. No Escalation clause. Lots of original features that make this home extraordinary.

Key facts

• Renovated baths
• Original features
• Spacious sunporch

Tags

• SPACIOUS SUNPORCH
• RENOVATED BATHS
• CERAMIC TILE IN KITCHENS
• ORIGINAL FEATURES

What this means for you Summary

Snapshot

• This is a 6-bed/2.0-bath multifamily listed at $206k. Condition is rated good.

Deal economics

• At list price, monthly cash flow is $1k ($16k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($4k rent vs $206k).
• Recommended offer: $200k (3.0% below list) — sets the bar for market timing.
• Cap rate 14.3% vs local median 6.9% 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.
• Zoned schools: International School (math 8% / reading 17%, grade F, #2,048 of 2,108 statewide, top 97%, 981 students, 92% FRL); Hutchinson Central Technical High School (math 96% / reading 32%, grade B-, #807 of 1,100 statewide, top 73%, 1,175 students, 78% FRL).
• Market conditions: 105 active listings in the ZIP; 1,244 units permitted in Erie County in 2024 (563 in 5+ unit buildings).
• At $3,530/mo this rent would consume 87% of the median local household income ($48k/yr) (locally 21% 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 $6k of value loss. Plan a longer hold.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $58k cash investment doubles in ~5 years — after that, you're playing with house money.

Negotiation context

• It's been on market 56 days — a 3% lower offer ($200k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts 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.

Risks & watch-outs

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

Recommended offer $199,723 (3.0% below list)

Questions for the listing agent

1. It's been on market 56 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 1900 — 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: 1.71% ✓
• Cap rate: 14.25%
• Cash-on-cash: 28.43%
• DSCR: 2.26
• GRM: 4.9

CMA / ARV

• ARV (median comp): $339,508
• List price: $205,900
• Delta: -39.35%
• 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
84 Monticello Pl	0.33mi	6/2.0	2,591 (+2%)	4mo	$145,000	$56	79
137 Donaldson Rd Rd	0.30mi	6/2.0	2,684 (+5%)	1mo	$220,000	$82	77
404 Northland Ave	0.20mi	6/2.0	2,360 (-8%)	2mo	$199,900	$85	77
73 Monticello Pl	0.30mi	6/2.0	2,424 (-5%)	6mo	$160,000	$66	72
56 Eastwood Pl	0.41mi	6/2.0	2,487 (-2%)	7mo	$250,000	$101	71
192 Northland Ave	0.45mi	6/2.0	2,438 (-4%)	1mo	$211,000	$87	71
192 Goulding Ave	0.46mi	6/2.0	2,476 (-3%)	5mo	$220,000	$89	70
26 Pleasant Pl	0.28mi	6/2.0	2,346 (-8%)	6mo	$162,000	$69	69
208 Loring Ave	0.29mi	7/2.0 (+1)	2,736 (+7%)	2mo	$121,000	$44	68
236 Brunswick Blvd	0.36mi	5/2.0 (-1)	2,779 (+9%)	7mo	$287,500	$103	58
2006 Fillmore Ave	0.50mi	5/2.0 (-1)	2,390 (-6%)	6mo	$84,800	$35	56
622 Woodlawn Ave	0.59mi	6/2.0	2,288 (-10%)	6mo	$177,500	$78	50

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 · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 22.7%
• Equity multiple: 1.93×
• Total profit: $53,675
• Equity at exit: $30,700

10-year hold

• IRR: 30.7%
• Equity multiple: 3.76×
• Total profit: $158,965
• Equity at exit: $17,802

Cash invested: $57,652 (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 →

Buyer's market Market conditions within 1.0 mi — comparable homes for sale

Active competition Active MLS

• For sale now: 33 active · 30 under contract
• Months of supply: 13.2 mo (8%/mo absorbed)
• Median asking: $209,900 ($96/sqft)
• Median days on market: 68 d
• This list price: 48% of active listings are priced below it
• ARV vs active asking: +38.2% above current asking $/sqft

Closed sales set the value; these active listings set current market conditions and a practical price ceiling.

ZIP-level market 14208

• Home prices YoY: -3.4%
• Active inventory: 105
• Price-to-rent: 9.7×

Monthly cashflow live

• Estimated rent: $3,530 high
• Mortgage (P&I): −$1,080
• Tax est. 1.5%: −$257 /mo · $3,088/yr
• Insurance: −$86
• HOA: −$0
• Vacancy / Maint / Mgmt: −$741
• Net cashflow: $1,366

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

Units	Beds	Baths	Est. rent
▸ 2× units	3	1.5	$3,530
Total (2 units)			$3,530

Break-even live

Break-even rent $1,801

Max offer price $205,900

Occupancy floor 56%

Sensitivity live

Price	-10% $1,508	-5% $1,437	+0% $1,366	+5% $1,295	+10% $1,223
Rent	-10% $1,087	-5% $1,226	+0% $1,366	+5% $1,505	+10% $1,645
Rate	-1.0pp $1,469	-0.5pp $1,418	base $1,366	+0.5pp $1,312	+1.0pp $1,258

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: $51,475
• Closing costs: $6,177
• Club membership (one-time): —
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
171 Blaine Ave Buffalo, NY	4.0	1.0	1400	$1,700	$1.21	10d	1	0.17mi
563 Humboldt Pkwy Buffalo, NY	3.0	1.0	2004	$1,200	$0.60	119d	1	0.17mi
179 Donaldson Rd Buffalo, NY	3.0	1.0	1152	$1,350	$1.17	99d	1	0.23mi
150 Hughes Ave Buffalo, NY	3.0	1.0	—	$1,600	—	71d	1	0.27mi
184 Butler Ave Unit 1299857P Buffalo, NY	4.0	1.0	—	$4,225	—	139d	1	0.39mi
184 Butler Ave Unit 1545840P Buffalo, NY	4.0	1.0	1496	$3,226	$2.16	110d	1	0.39mi
104 Butler Ave Buffalo, NY	3.0	1.0	1000	$1,400	$1.40	139d	1	0.42mi
232 Humboldt Pkwy Buffalo, NY	3.0	1.0	2648	$1,000	$0.38	10d	1	0.43mi
82 Butler Ave Unit 2 Buffalo, NY	3.0	1.0	2752	$1,300	$0.47	139d	1	0.43mi
98 E Delavan Ave Buffalo, NY	4.0	2.0	3105	$2,000	$0.64	139d	1	0.44mi
215 Humboldt Pkwy Unit MSA-A1 Buffalo, NY	2.0	2.0	872	$1,425	$1.63	88d	1	0.45mi
71 Brunswick Blvd Unit Lower Buffalo, NY	3.0	1.0	2836	$1,600	$0.56	67d	1	0.48mi
2075 Main St Buffalo, NY	2.0	2.0	872	$1,630	$1.87	7d	5	0.49mi
73 Inter Park Ave Buffalo, NY	3.0	1.0	2080	$1,300	$0.62	110d	1	0.52mi
102 Florida St Buffalo, NY	3.0	1.0	1296	$1,650	$1.27	10d	1	0.53mi
88 Florida St Buffalo, NY	2.0	1.0	1296	$1,700	$1.31	93d	1	0.56mi
2148 Main St Buffalo, NY	2.0	1.0	5040	$1,250	$0.25	139d	1	0.56mi
28 Lonsdale Rd Buffalo, NY	3.0	1.0	2735	$1,595	$0.58	10d	1	0.58mi
2206 Main St #1 Buffalo, NY	3.0	1.0	1632	$1,875	$1.15	10d	1	0.61mi
121 Humboldt Pkwy Unit B Buffalo, NY	2.0	1.0	1265	$1,650	$1.30	88d	1	0.61mi
117 Humboldt Pkwy Unit B Buffalo, NY	2.0	1.0	840	$1,850	$2.20	139d	1	0.62mi
117 Humboldt Pkwy Unit A Buffalo, NY	3.0	1.0	1105	$2,050	$1.86	10d	1	0.62mi
298 Winslow Ave Unit 2 Buffalo, NY	3.0	1.0	2392	$1,150	$0.48	88d	1	0.63mi
298 Winslow Ave Unit 1 Buffalo, NY	3.0	1.0	2392	$1,200	$0.50	88d	1	0.63mi
107 Humboldt Pkwy Unit A Buffalo, NY	2.0	1.0	1172	$1,995	$1.70	139d	1	0.64mi
95 Humboldt Pkwy Unit A Buffalo, NY	4.0	2.0	1800	$2,550	$1.42	10d	1	0.66mi
95 Humboldt Pkwy Unit B Buffalo, NY	3.0	1.5	1323	$2,300	$1.74	88d	1	0.66mi
91 W Humboldt Pkwy Buffalo, NY	4.0	2.0	3017	$3,400	$1.13	139d	1	0.67mi
478 Glenwood Ave Unit upper Buffalo, NY	4.0	1.0	—	$1,500	—	10d	1	0.67mi
170 Dewey Ave Buffalo, NY	3.0	1.0	—	$1,300	—	62d	1	0.69mi
77 Humboldt Pkwy Unit B Buffalo, NY	4.0	2.5	2124	$2,550	$1.20	10d	1	0.69mi
408 Winslow Ave Unit 2 Buffalo, NY	3.0	1.0	1000	$1,050	$1.05	110d	1	0.70mi
2 Agassiz Cir Unit B Buffalo, NY	2.0	1.0	983	$1,950	$1.98	88d	1	0.71mi
2 Agassiz Cir Unit A Buffalo, NY	2.0	1.0	1076	$2,050	$1.91	88d	1	0.71mi
1786 Main St Unit 104 Buffalo, NY	2.0	2.0	1256	$1,875	$1.49	139d	1	0.72mi
1786 Main St Unit 103 Buffalo, NY	2.0	1.5	1110	$1,677	$1.51	139d	1	0.72mi
1786 Main St Buffalo, NY	2.0	2.0	1110	$1,677	$1.51	10d	1	0.72mi
2335 Main St Buffalo, NY	3.0	2.0	19965	$2,100	$0.11	139d	1	0.74mi
2335 Main St Buffalo, NY	3.0	2.0	19965	$2,000	$0.10	119d	1	0.74mi
569 E Utica St Lowr Rear Buffalo, NY	2.0	1.0	779	$1,500	$1.93	10d	1	0.77mi

Property features AI

Finance

• Financial info: Tenant(s) responsible for all utilitiesOperating expenses include insurance, maintenance (structure and general), snow removal, trash, and water/sewer

Exterior

• Parking: Concrete parking surface
• Utilities: Public water connectedSewer connected
• Home design: Two-story multi-family buildingResale property
• Construction: Vinyl sidingAsphalt roofStone foundationBuilt (existing structure)
• Exterior features: Balcony

Interior

• Kitchen: Each unit features an eat-in kitchen
• Bedrooms: Two separate 3-bedroom units (each unit includes an eat-in kitchen, formal dining room and living room)
• Flooring: HardwoodTileVinylVaries by area
• Bathrooms: Two full bathrooms (one in each unit)
• Heating & cooling: Gas forced-air heating
• Interior features: Hardwood, tile, vinyl and mixed flooring throughoutFull basement
• Laundry & utility: Common area laundryGas water heater

Listing history 5 events

1. 2026-05-31
   days on market $205,900 Active 56 DOM
2. 2026-04-05
   listed $205,900 Active 579-char remark
3. 2026-02-27
   historical
4. 2025-12-19
   price $234,900
5. 2025-10-30
   listed $259,900 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 ≥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: $42,360
• − Mortgage interest: −$11,534
• − Property taxes: −$3,088
• − Insurance: −$1,030
• − Repairs & maintenance: −$3,389
• − Management: −$3,389
• − Depreciation: −$5,990
• Taxable income: $13,941
• Est. tax owed @ 24.0%: −$3,346
• After-tax cash flow: $13,043/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.

Condition & rehab AI · 1 photo

Good 75/100 Cosmetic rehab Est. rehab $12,760–$38,280 screening

This multi-family home is in good condition with recent renovations and improvements, making it a solid investment opportunity.

Value-add opportunities

• Both Landscaping — Enhances curb appeal and rental value ↑
• Both Exterior paint — Maintains curb appeal and rental value ↑
• Both Landscaping and curb appeal — Improves curb appeal and rental value ↑

ⓘ Rehab cost is a screening estimate — Cosmetic scope × the home's square footage at US $/sqft rules of thumb (the same model as the Flip Finder). Get contractor quotes + a written scope before underwriting.

F Composite school gradezoned avg 19/100

Zoned Schools

Elementary Buffalo Elementary School Of Technology F NY #2,062/2,108 Nat'l #38,691/41,679 High Math Science Technology Preparatory School At 197 F NY #1,086/1,100 Nat'l #11,728/17,239

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

B Composite livability gradescore 77/100

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 · 933,037 people
• City population: 440,021
• Metro: Buffalo-Cheektowaga, NY
• Population (ZIP): 12,572
• Household income: $48,476
• Rent vs Own: 46.2% rent · 53.8% own
• Severe rent burden: 21% of renters

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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%

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Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly Black (72%)
• Race & ethnicity: Black 72% White 15% Asian 6% Two or more races 4% Hispanic / Latino 3%
• Common ancestry: Romanian 2% Italian 1% Hispanic 0%
• Foreign-born: 7% · Canada, South Korea, Philippines
• Languages at home: 89% English-only · Other Indo-European 3% Spanish 2% French/Haitian/Cajun 1%

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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: ▼ -16.37%
• Current HPI: 459.2084
• Rent YoY: —
• Metro: Buffalo-Cheektowaga, NY
• State GDP YoY: ▲ 2.60%
• F500 in state: 92

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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

Property features AI

Finance

• Financial info: Tenant(s) responsible for all utilitiesOperating expenses include insurance, maintenance (structure and general), snow removal, trash, and water/sewer

Exterior

• Parking: Concrete parking surface
• Utilities: Public water connectedSewer connected
• Home design: Two-story multi-family buildingResale property
• Construction: Vinyl sidingAsphalt roofStone foundationBuilt (existing structure)
• Exterior features: Balcony

Interior

• Kitchen: Each unit features an eat-in kitchen
• Bedrooms: Two separate 3-bedroom units (each unit includes an eat-in kitchen, formal dining room and living room)
• Flooring: HardwoodTileVinylVaries by area
• Bathrooms: Two full bathrooms (one in each unit)
• Heating & cooling: Gas forced-air heating
• Interior features: Hardwood, tile, vinyl and mixed flooring throughoutFull basement
• Laundry & utility: Common area laundryGas water heater

Price history

-20.8% since first listed

4 events — show timeline

• 2026-04-05 Listed $205,900 WNYREIS
• 2026-02-27 Listing Removed — WNYREIS
• 2025-12-19 Price Changed $234,900 WNYREIS
• 2025-10-30 Listed $259,900 WNYREIS