442 Baynes St · Buffalo, NY 14213

$342,500

6 bd · 2.0 ba · 2,244 sqft · MultiFamily public records · 76 Days on market

Built 1900 2,610 sqft lot $153/sqft · 30% below area Est $488k · 30% 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 +22.7/30.0
• ARV discount +15.0/15.0
• Appreciation +8.8/10.0
• DSCR +7.3/10.0
• 1% rule +4.6/10.0
• Livability +3.9/5.0
• Schools +3.3/10.0
• Condition / age +2.5/5.0
• Rent growth +2.4/5.0

Multi-family units

County records classify this as Multi-Family (2-4 Unit). Listing-text estimate: 2 units. confirmed

Listing remarks MLS

Investor or owner-occupant opportunity near Elmwood Village. Don’t miss this beautifully maintained two-family home at 442 Baynes St in Buffalo, just steps from the Elmwood Strip and a short walk to Buffalo State College. Each spacious unit offers three bedrooms, separate utilities and meters, and updated systems, making this a turn-key investment or ideal owner-occupant opportunity. Recent updates include a newer full tear-off roof, a lower furnace installed in 2021 and an upper furnace in 2024, a lower hot water tank replaced in 2024, and renovations to the upper unit bathroom and doors completed in 2024. The home also features a clean, waterproofed basement and a full walk-up attic ready to be finished for additional living space or potential income. Off-street parking accommodates one to two vehicles. All appliances are included, and both units are fully rented with dependable tenants. Located in one of Buffalo’s most walkable neighborhoods, close to restaurants, shops, parks, and public transit, 442 Baynes is a smart and solid investment whether you are expanding your portfolio or looking to live affordably while rental income offsets your mortgage.

Key facts

• 2,610 sq ft lot
• Parking
• Built 1900

What this means for you Summary

Snapshot

• This is a 2 × 3-bed/1.0-bath units multifamily listed at $342k.

Deal economics

• At list price, monthly cash flow is $586 ($7k/yr) — positive. Per door: $293/mo.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $328k (4.4% below list).
• Recommended offer: $322k (6.0% below list) — sets the bar for market timing.

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 soft (-0.5%/yr); 138 active listings in the ZIP; 1,244 units permitted in Erie County in 2024 (563 in 5+ unit buildings).
• At $3,276/mo this rent would consume 73% of the median local household income ($54k/yr) (locally 1501% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

Forward outlook

• In year one you build about $28k of equity ($2k loan paydown + $26k appreciation (7.5% local appreciation)).
• At projected returns (7.5% appreciation + 0.0% rent growth), your $96k cash investment doubles in ~3 years — after that, you're playing with house money.
• By year 2, paydown + projected appreciation supports a ~$45k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 76 days — a 6% lower offer ($322k) 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 $240k; 43% 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.
• Climate carrying-cost: major flood risk — expect insurance premiums to compound above CPI over the hold.

Recommended offer $321,950 (6.0% below list)

Questions for the listing agent

1. It's been on market 76 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
2. Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
3. What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
4. Built in 1900 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
5. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
6. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
7. 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?
8. 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.
9. 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.
10. 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: 0.96% ✗
• Cap rate: 8.35%
• Cash-on-cash: 7.33%
• DSCR: 1.33
• GRM: 8.7

CMA / ARV

• ARV (median comp): $488,011
• List price: $342,500
• Delta: -29.82%
• 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
289 Hoyt St	0.28mi	6/2.0	2,232 (-0%)	8mo	$270,000	$121	80
391 Hoyt St	0.09mi	6/2.0	2,112 (-6%)	8mo	$308,000	$146	79
88 Pooley Pl	0.31mi	6/2.0	2,288 (+2%)	7mo	$270,000	$118	76
427 Forest Ave	0.10mi	5/2.0 (-1)	2,068 (-8%)	1mo	$262,500	$127	76
60 Granger Pl	0.46mi	6/2.5	2,228 (-1%)	1mo	$300,000	$135	74
315 Herkimer St	0.56mi	6/2.0	2,303 (+3%)	2mo	$148,000	$64	68
823 Ashland Ave	0.35mi	6/2.0	2,066 (-8%)	7mo	$403,000	$195	65
559 Potomac Ave	0.41mi	6/2.0	2,402 (+7%)	6mo	$437,500	$182	64
38 Ardmore Pl	0.42mi	5/2.0 (-1)	2,121 (-6%)	6mo	$230,000	$108	61
124 Hawley St	0.38mi	6/2.0	1,920 (-14%)	5mo	$179,900	$94	54
234 Dewitt St	0.59mi	5/3.0 (-1)	2,120 (-6%)	2mo	$59,000	$28	53
385 Auburn Ave	0.64mi	6/2.0	1,920 (-14%)	0mo	$218,000	$114	46

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

Projected returns pro-forma

7.51% appreciation · 0.0% rent growth · sell at horizon

5-year hold

• IRR: 23.4%
• Equity multiple: 2.65×
• Total profit: $158,039
• Equity at exit: $248,920

10-year hold

• IRR: 20.6%
• Equity multiple: 5.30×
• Total profit: $412,780
• Equity at exit: $483,711

Cash invested: $95,900 (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 14213

• Home prices YoY: 1.7%
• Rents YoY: -0.5%
• Active inventory: 138
• Price-to-rent: 17.4×

Monthly cashflow live

• Estimated rent: $3,276 high
• Mortgage (P&I): −$1,796
• Tax from tax record: −$63 /mo · $757/yr
• Insurance: −$143
• HOA: −$0
• Vacancy / Maint / Mgmt: −$688
• Net cashflow: $586

Break-even live

Break-even rent $2,534

Max offer price $342,500

Occupancy floor 77%

Sensitivity live

Price	-10% $780	-5% $683	+0% $586	+5% $489	+10% $392
Rent	-10% $327	-5% $457	+0% $586	+5% $716	+10% $845
Rate	-1.0pp $759	-0.5pp $673	base $586	+0.5pp $497	+1.0pp $407

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

Units	Beds	Baths	Est. rent
▸ 2× units	3	1	$3,276
Total (2 units)			$3,276

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: $85,625
• Closing costs: $10,275
• Reserves months: —
• Total cash needed: —

Listing history 21 events

1. 2026-06-21
   days on market $342,500 Active 76 DOM
2. 2026-06-18
   days on market $342,500 Active 73 DOM
3. 2026-06-17
   days on market $342,500 Active 72 DOM
4. 2026-06-16
   days on market $342,500 Active 71 DOM
5. 2026-06-15
   days on market $342,500 Active 70 DOM
6. 2026-06-13
   days on market $342,500 Active 68 DOM
7. 2026-06-13
   pricedays on market $342,500 Active 67 DOM
8. 2026-06-10
   days on market $344,999 Active 65 DOM
9. 2026-06-09
   days on market $344,999 Active 64 DOM
10. 2026-06-08
    days on market $344,999 Active 63 DOM
11. 2026-06-07
    days on market $344,999 Active 62 DOM
12. 2026-06-03
    days on market $344,999 Active 58 DOM
13. 2026-06-02
    days on market $344,999 Active 57 DOM
14. 2026-06-01
    days on market $344,999 Active 56 DOM
15. 2026-05-31
    days on market $344,999 Active 55 DOM
16. 2026-04-06
    listed $350,000 Active 1184-char remark

    Show marketing remark (1184 chars)

    Investor or owner-occupant opportunity near Elmwood Village. Don’t miss this beautifully maintained two-family home at 442 Baynes St in Buffalo, just steps from the Elmwood Strip and a short walk to Buffalo State College. Each spacious unit offers three bedrooms, separate utilities and meters, and updated systems, making this a turn-key investment or ideal owner-occupant opportunity. Recent updates include a newer full tear-off roof, a lower furnace installed in 2021 and an upper furnace in 2024, a lower hot water tank replaced in 2024, and renovations to the upper unit bathroom and doors completed in 2024. The home also features a clean, waterproofed basement and a full walk-up attic ready to be finished for additional living space or potential income. Off-street parking accommodates one to two vehicles. All appliances are included, and both units are fully rented with dependable tenants. Located in one of Buffalo’s most walkable neighborhoods, close to restaurants, shops, parks, and public transit, 442 Baynes is a smart and solid investment whether you are expanding your portfolio or looking to live affordably while rental income offsets your mortgage.

17. 2026-01-09
    historical
18. 2025-10-14
    price $345,000
19. 2025-09-17
    listed $350,000 Active
20. 2020-11-21
    soldstatus $240,000
21. 2019-05-09
    soldstatus $60,000

ⓘ 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: $757 · $63/mo
• Projected year-2 tax: $3,272 · $273/mo
• Expected delta: +$2,516/yr (+$210/mo · 332.5%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Climate risk First Street

• 🌊 Flood 6/10 Major FEMA zone X (unshaded) · 68% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 3/10 Moderate 7 d/yr ≥91°F today · 14 d/yr by 30 yrs out
• 💨 Wind 1/10 Low
• 🫁 Air quality 4/10 Moderate 4 unhealthy d/yr today · 9 by 30 yrs out

Taxation est. · year 1

• Rental income: $39,312
• − Mortgage interest: −$19,185
• − Property taxes: −$757
• − Insurance: −$1,712
• − Repairs & maintenance: −$3,145
• − Management: −$3,145
• − Depreciation: −$9,964
• Taxable income: $1,404
• Est. tax owed @ 24.0%: −$337
• After-tax cash flow: $6,697/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): 24,107
• Household income: $53,870
• Rent vs Own: 60.5% rent · 39.5% own
• Severe rent burden: 1501.0

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: Highly diverse neighborhood (Simpson 0.70)
• Race & ethnicity: White 46% Hispanic / Latino 20% Black 18% Asian 12% Two or more races 10%
• Hispanic origin (detail): Mexican 1% Puerto Rican 16% Dominican 1%
• Common ancestry: Romanian 6% Slovak 3% Lithuanian 3%
• Foreign-born: 16% · Philippines, Canada, India
• Languages at home: 68% English-only · Spanish 12% Other Asian/Pacific 7% Arabic 3%

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: ▲ 7.51%
• Current HPI: 448.4879
• Rent YoY: ▼ -0.49%
• 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

+483.3% since first listed

6 events — show timeline

• 2026-04-06 Listed $350,000 WNYREIS
• 2026-01-09 Listing Removed — WNYREIS
• 2025-10-14 Price Changed $345,000 WNYREIS
• 2025-09-17 Listed $350,000 WNYREIS
• 2020-11-21 Sold (Public Records) $240,000 Public Records
• 2019-05-09 Sold (Public Records) $60,000 Public Records

Property tax history

+9.9%/yr

Latest (2025): $757 · +0.0% YoY. Source: county tax records.