1266 E Ferry St · Buffalo, NY 14211

$169,900

4 bd · 2.0 ba · 1,905 sqft · MultiFamily · 1 Days on market

Built 1920 Fair condition 3,286 sqft lot

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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 +29.8/30.0
• DSCR +10.0/10.0
• 1% rule +8.4/10.0
• ARV discount +7.5/15.0
• Appreciation +6.0/10.0
• Livability +3.9/5.0
• Schools +3.3/10.0
• Rent growth +2.5/5.0
• Condition / age +2.2/5.0

Multi-family units

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

Listing remarks

Welcome to 1266 East Ferry St, Buffalo, NY 14211 — a fantastic two-family property offering flexibility for both investors and owner-occupants! The lower unit features 3 spacious bedrooms, a bright living room, formal dining area, full kitchen, and a full bathroom. The upper unit offers 2 comfortable bedrooms, living room, dining area, kitchen, and a full bathroom—perfectly laid out for easy living. This property also includes a full basement providing ample storage or additional usable space, along with a detached 2-car garage for convenient parking. Both units are move-in ready and can be rented immediately or used for owner-occupancy, making this a great opportunity to genera

Key facts

• Move-in ready
• Full basement
• Two-family property

Tags

• TWO-FAMILY PROPERTY
• FULL BASEMENT
• DETACHED 2-CAR GARAGE
• MOVE-IN READY
• CONVENIENTLY LOCATED

What this means for you Summary

Snapshot

• This is a 2 × 2-bed/1.0-bath units multifamily listed at $170k. Condition is rated fair.

Deal economics

• At list price, monthly cash flow is $569 ($7k/yr) — positive. Per door: $285/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $170k).
• Cap rate 10.7% 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: 173 active listings in the ZIP; 11 comparable units currently listed for rent nearby; rentals at typical pace (median 18d 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 $2,277/mo this rent would consume 75% of the median local household income ($36k/yr) (locally 1804% 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 $5k of equity ($1k loan paydown + $3k appreciation (2.0% local appreciation)).
• At projected returns (2.0% appreciation + 3.0% rent growth), your $48k cash investment doubles in ~4 years — after that, you're playing with house money.
• By year 8, paydown + projected appreciation supports a ~$35k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• Only 1 days on market — expect competitive offers; lowballing is unlikely to land.
• 4 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: flood insurance adds $56/mo; built in 1920 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: severe flood risk — expect insurance premiums to compound above CPI over the hold.

Recommended offer $169,900

Questions for the listing agent

1. Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
2. What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
3. Have any recent inspections been done? Can we get a copy of the seller's disclosures and any deferred-maintenance estimates?
4. Built in 1920 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
5. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
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: 1.34% ✓
• Cap rate: 10.71%
• Cash-on-cash: 15.76%
• DSCR: 1.70
• GRM: 6.2

CMA / ARV

• ARV (on-the-fly): $110,490
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
109 Newburgh Ave	0.48mi	4/2.0	1,970 (+3%)	7mo	$140,000	$71	66
45 Cambridge Ave	0.28mi	5/2.0 (+1)	2,042 (+7%)	10mo	$62,000	$30	62
65 Goembel Ave	0.59mi	5/2.0 (+1)	1,910 (+0%)	8mo	$110,000	$58	61
124 Newburgh Ave	0.47mi	4/2.0	1,750 (-8%)	7mo	$95,000	$54	59
32 Courtland Ave	0.63mi	4/2.0	2,011 (+6%)	4mo	$220,000	$109	58
60 Sattler Ave	0.59mi	4/2.0	1,746 (-8%)	6mo	$94,500	$54	53
221 May St	0.57mi	5/2.0 (+1)	1,794 (-6%)	8mo	$91,000	$51	52
274 Newburgh Ave	0.66mi	5/2.0 (+1)	1,754 (-8%)	4mo	$185,000	$105	48
95 Carl St	0.55mi	4/2.0	1,632 (-14%)	4mo	$84,000	$51	47
141 Moselle St	0.62mi	5/2.0 (+1)	1,730 (-9%)	8mo	$30,000	$17	44
7 Hazelwood Ave	0.66mi	4/2.0	2,134 (+12%)	10mo	$180,000	$84	41
210 Carl St	0.68mi	5/2.0 (+1)	2,112 (+11%)	7mo	$220,000	$104	40

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

Projected returns pro-forma

2.05% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 18.8%
• Equity multiple: 2.02×
• Total profit: $48,391
• Equity at exit: $67,465

10-year hold

• IRR: 21.0%
• Equity multiple: 3.78×
• Total profit: $132,448
• Equity at exit: $97,500

Cash invested: $47,572 (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 14211

• Home prices YoY: 0.6%
• Active inventory: 173
• Price-to-rent: 12.4×

Monthly cashflow live

• Estimated rent: $2,277 high
• Mortgage (P&I): −$891
• Tax est. 1.5%: −$212 /mo · $2,548/yr
• Insurance: −$71
• Flood insurance flood zone: −$56 /mo · $666/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$478
• Net cashflow: $569

Break-even live

Break-even rent $1,557

Max offer price $169,900

Occupancy floor 70%

Sensitivity live

Price	-10% $687	-5% $628	+0% $569	+5% $510	+10% $452
Rent	-10% $389	-5% $479	+0% $569	+5% $659	+10% $749
Rate	-1.0pp $655	-0.5pp $612	base $569	+0.5pp $525	+1.0pp $480

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

Units	Beds	Baths	Est. rent
▸ 2× units	2	1	$2,278
Total (2 units)			$2,277

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: $42,475
• Closing costs: $5,097
• Reserves months: —
• Total cash needed: —

Rent comps 11 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
517 Goodyear Ave Buffalo, NY	3.0	1.0	1559	$1,800	$1.15	20d	1	0.41mi
96 Academy Rd Buffalo, NY	3.0	1.0	2247	$1,400	$0.62	25d	1	0.70mi
65 Domedion Ave Buffalo, NY	3.0	1.0	1632	$1,500	$0.92	3d	1	0.79mi
979 Walden Ave Buffalo, NY	4.0	3.0	1793	$2,000	$1.12	3d	1	1.05mi
79 Walden Ave Buffalo, NY	3.0	1.0	2528	$1,250	$0.49	45d	1	1.15mi
73 Inter Park Ave Buffalo, NY	3.0	1.0	2080	$1,300	$0.62	15d	1	1.19mi
1777 Broadway Unit 2 Buffalo, NY	3.0	1.0	1300	$1,200	$0.92	45d	1	1.28mi
1202 Walden Ave Unit 3 Buffalo, NY	3.0	1.0	1500	$1,400	$0.93	18d	1	1.39mi
563 Humboldt Pkwy Buffalo, NY	3.0	1.0	2004	$1,200	$0.60	25d	1	1.40mi
25 Parkridge Ave Buffalo, NY	3.0	1.0	1914	$1,350	$0.71	15d	1	1.43mi
184 Butler Ave Unit 1545840P Buffalo, NY	4.0	1.0	1496	$3,226	$2.16	15d	1	1.44mi

Listing history 9 events

1. 2026-04-21
   status Pending
2. 2026-04-21
   listed $169,900 Active
3. 2026-04-06
   historical
4. 2026-01-13
   listed $169,900 Active
5. 2025-05-31
   historical
6. 2025-04-23
   status Active
7. 2025-04-23
   price $174,900
8. 2025-02-26
   status Pending
9. 2025-02-05
   listed $164,900 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 9/10 Extreme FEMA zone X (unshaded) · 99% 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: $27,324
• − Mortgage interest: −$9,517
• − Property taxes: −$2,548
• − Insurance: −$1,516
• − Repairs & maintenance: −$2,186
• − Management: −$2,186
• − Depreciation: −$4,943
• Taxable income: $4,428
• Est. tax owed @ 24.0%: −$1,063
• After-tax cash flow: $5,767/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 · 2 photos

Fair 45/100 Moderate rehab

A two-family property with moderate rehabilitation needs, including exterior repairs and landscaping improvements to enhance its value.

Repairs flagged

• Minor roof — Some discoloration visible
• Minor exterior siding — Weathered appearance
• Minor exterior paint — Some discoloration

Value-add opportunities

• Both Landscaping and fencing improvements — Enhances curb appeal and property value
• Both Painting exterior and roof — Improves appearance and extends lifespan

Renovation cost estimate screening

Repair item	Severity	Est. cost
roof · Some discoloration visible	Minor	$500–3,000
exterior siding · Weathered appearance	Minor	$500–3,000
exterior paint · Some discoloration	Minor	$500–3,000
Total estimated repair cost · 3 items		$1,500–9,000

Value-add ROI direction

• Both Landscaping and fencing improvements — Enhances curb appeal and property value ↑
• Both Painting exterior and roof — Improves appearance and extends lifespan ↑

ⓘ Cost ranges are severity-bucket heuristics (US national rule-of-thumb). Get contractor quotes + a written scope before underwriting a rehab budget.

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): 24,663
• Household income: $36,300
• Rent vs Own: 54.8% rent · 45.2% own
• Severe rent burden: 1804.0

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: Diverse neighborhood (Simpson 0.60)
• Race & ethnicity: Black 59% Asian 20% Hispanic / Latino 9% White 9% Two or more races 5%
• Hispanic origin (detail): Puerto Rican 6%
• Common ancestry: Romanian 4%
• Foreign-born: 17% · Canada, Philippines, Vietnam
• Languages at home: 74% English-only · Other Indo-European 14% Spanish 6% Other Asian/Pacific 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: ▲ 2.05%
• Current HPI: 357.6438
• 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

+3.0% since first listed

9 events — show timeline

• 2026-04-21 Pending — WNYREIS
• 2026-04-21 Listed $169,900 WNYREIS
• 2026-04-06 Listing Removed — WNYREIS
• 2026-01-13 Listed $169,900 WNYREIS
• 2025-05-31 Listing Removed — WNYREIS
• 2025-04-23 Relisted — WNYREIS
• 2025-04-23 Price Changed $174,900 WNYREIS
• 2025-02-26 Pending — WNYREIS
• 2025-02-05 Listed $164,900 WNYREIS