89 Andover Ave · Buffalo, NY 14215

$199,900

4 bd · 2.0 ba · 1,867 sqft · MultiFamily public records · 18 Days on market

Built 1923 3,968 sqft lot Est $170k · 18% over

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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 +30.0/30.0
• DSCR +10.0/10.0
• 1% rule +7.5/10.0
• Livability +3.9/5.0
• Schools +3.3/10.0
• Rent growth +2.7/5.0
• Condition / age +2.5/5.0
• ARV discount +0.0/15.0
• 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

Well maintained multifamily house located minutes away from south Campus of University at Buffalo. Recently renovated this spacious multi family house has two bedrooms , nice living-dining combo , kitchen and one full bath on each floor. Many windows are new, nice roof and full basement. Electric circuit breaker and dry clean basement.

Key facts

• Living-dining combo
• Full basement
• Recently renovated

Tags

• MULTIFAMILY HOUSE
• RECENTLY RENOVATED
• LIVING-DINING COMBO
• NEW WINDOWS
• FULL BASEMENT
• ELECTRIC CIRCUIT BREAKER

Property features AI

Finance

• Other: Two-unit property with separate gas and electric meters (2 each)
• Financial info: Owner pays water; Rent includes water; Operating expenses include water/sewer

Exterior

• Parking: 2-car garage; Two or more off-street parking spaces
• Utilities: Electricity connected; Public water connected; Sewer connected
• Home design: Single-story; Existing construction; Resale property
• Construction: Vinyl siding; Block foundation
• Exterior features: Pie-shaped lot; Near public transit; Residential lot; City street frontage; Full basement

Interior

• Flooring: Hardwood; Luxury vinyl; Varies
• Bathrooms: 2 full bathrooms
• Heating & cooling: Gas forced air heating; Gas water heater
• Interior features: Attic

What this means for you Summary

Snapshot

• This is a 4-bed/2.0-bath multifamily listed at $200k.

Deal economics

• At list price, monthly cash flow is $801 ($10k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $200k).
• Recommended offer: $197k (1.5% below list) — sets the bar for market timing.
• Cap rate 11.1% 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; 12 comparable units currently listed for rent nearby; rentals at typical pace (median 14d 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 $2,498/mo this rent would consume 67% 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 $1k of loan paydown is wiped out by about $6k of value loss. Plan a longer hold.
• At projected returns (-3.0% appreciation + 0.7% rent growth), your $56k cash investment doubles in ~9 years — after that, you're playing with house money.

Negotiation context

• It's been on market 18 days — a 2% lower offer ($197k) 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.
• Current owner paid $132k; list at $200k implies a 51% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1923 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $196,901 (1.5% below list)

Questions for the listing agent

1. Built in 1923 — 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: 1.25% ✓
• Cap rate: 11.10%
• Cash-on-cash: 17.18%
• DSCR: 1.76
• GRM: 6.7

CMA / ARV

• ARV (on-the-fly): $169,897
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
73 Easton Ave	0.49mi	4/2.0	1,950 (+4%)	8mo	$206,000	$106	63
73 Oakmont Ave	0.24mi	4/2.0	1,616 (-13%)	6mo	$215,000	$133	61
17 Proctor Ave	0.51mi	4/2.0	1,756 (-6%)	8mo	$175,000	$100	60
132 Hewitt Ave	0.65mi	4/2.0	1,946 (+4%)	5mo	$125,000	$64	59
47 Weston Ave	0.42mi	4/2.0	2,052 (+10%)	8mo	$230,000	$112	57
18 Phyllis Ave	0.19mi	5/2.0 (+1)	2,134 (+14%)	8mo	$138,000	$65	56
35 Erskine Ave	0.37mi	4/2.0	2,135 (+14%)	4mo	$170,000	$80	55
475 Norfolk Ave	0.45mi	4/2.0	2,068 (+11%)	8mo	$105,000	$51	54
358 Newburgh Ave	0.71mi	5/2.0 (+1)	1,959 (+5%)	2mo	$165,000	$84	52
88 Marigold Ave	0.75mi	4/2.0	1,960 (+5%)	8mo	$210,000	$107	50
131 Arden Ave	0.63mi	4/2.0	2,099 (+12%)	7mo	$190,000	$91	44
9 Alma Ave	0.50mi	5/2.0 (+1)	1,630 (-13%)	9mo	$82,000	$50	43

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: 6.0%
• Equity multiple: 1.23×
• Total profit: $12,816
• Equity at exit: $29,806

10-year hold

• IRR: 13.4%
• Equity multiple: 1.97×
• Total profit: $54,077
• Equity at exit: $17,284

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 14215

• Home prices YoY: -30.0%
• Rents YoY: 0.7%
• Active inventory: 237
• Price-to-rent: 13.3×

Monthly cashflow live

• Estimated rent: $2,498 high
• Mortgage (P&I): −$1,048
• Tax from tax record: −$41 /mo · $489/yr
• Insurance: −$83
• HOA: −$0
• Vacancy / Maint / Mgmt: −$525
• Net cashflow: $801

Break-even live

Break-even rent $1,484

Max offer price $199,900

Occupancy floor 63%

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

Units	Beds	Baths	Est. rent
▸ 2× units	2	1	$2,498
Total (2 units)			$2,498

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: —

Rent comps 12 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
25 Parkridge Ave Buffalo, NY	3.0	1.0	1914	$1,350	$0.71	14d	1	0.34mi
263 Minnesota Ave Unit Upper Buffalo, NY	3.0	1.0	1242	$1,500	$1.21	14d	1	0.88mi
222 Lisbon Ave Buffalo, NY	4.0	1.0	1300	$1,400	$1.08	23d	1	0.99mi
222 Lisbon Ave Unit Upper Buffalo, NY	3.0	1.0	1400	$1,400	$1.00	43d	1	0.99mi
175 Lisbon Ave Buffalo, NY	5.0	2.0	2000	$2,500	$1.25	14d	1	1.00mi
89 Lasalle Ave Buffalo, NY	1.0–4.0	1.0–4.0	1024	$2,997	$2.93	1d	10	1.03mi
85 Highgate Ave Buffalo, NY	5.0	2.0	2193	$3,750	$1.71	14d	1	1.13mi
59 Lisbon Ave Buffalo, NY	3.0	1.0	2521	$1,250	$0.50	23d	1	1.13mi
65 Northrup Pl Buffalo, NY	5.0	2.0	1467	$2,500	$1.70	14d	1	1.18mi
24 Custer St Buffalo, NY	5.0	2.0	2500	$3,000	$1.20	14d	1	1.29mi
65 Domedion Ave Buffalo, NY	3.0	1.0	1632	$1,500	$0.92	1d	1	1.46mi
60 Englewood Ave Buffalo, NY	4.0	1.0	1400	$1,650	$1.18	1d	1	1.48mi

Listing history 14 events

1. 2026-06-18
   days on market $199,900 Active 18 DOM
2. 2026-06-17
   pricedays on market $199,900 Active 17 DOM
3. 2026-06-16
   days on market $209,900 Active 16 DOM
4. 2026-06-15
   days on market $209,900 Active 15 DOM
5. 2026-06-13
   days on market $209,900 Active 13 DOM
6. 2026-06-13
   days on market $209,900 Active 12 DOM
7. 2026-06-10
   days on market $209,900 Active 10 DOM
8. 2026-06-09
   days on market $209,900 Active 9 DOM
9. 2026-06-08
   days on market $209,900 Active 8 DOM
10. 2026-06-07
    days on market $209,900 Active 7 DOM
11. 2026-06-03
    days on market $209,900 Active 3 DOM
12. 2026-06-02
    days on market $209,900 Active 2 DOM
13. 2026-06-01
    remarks 337-char remark
14. 2026-06-01
    listed $209,900 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: $489 · $41/mo
• Projected year-2 tax: $1,934 · $161/mo
• Expected delta: +$1,445/yr (+$120/mo · 295.6%)

ⓘ 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 ≥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: $29,976
• − Mortgage interest: −$11,198
• − Property taxes: −$489
• − Insurance: −$1,000
• − Repairs & maintenance: −$2,398
• − Management: −$2,398
• − Depreciation: −$5,815
• Taxable income: $6,679
• Est. tax owed @ 24.0%: −$1,603
• After-tax cash flow: $8,010/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

+59.0% since first listed

5 events — show timeline

• 2026-05-31 Listed $209,900 WNYREIS
• 2025-08-28 Price Changed $180,900 WNYREIS
• 2025-08-01 Price Changed $185,900 WNYREIS
• 2025-06-26 Listed $190,900 WNYREIS
• 2023-10-03 Sold (Public Records) $132,000 Public Records

Property tax history

+8.3%/yr

Latest (2025): $489 · +93.8% YoY. Source: county tax records.