134 Buffum St · Buffalo, NY 14210

$179,900

4 bd · 1.0 ba · 1,940 sqft · SingleFamily public records · 9 Days on market

Built 1892 0.48 ac lot Est $268k · 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 +20.4/30.0
• ARV discount +15.0/15.0
• Appreciation +10.0/10.0
• DSCR +6.5/10.0
• Rent growth +5.0/5.0
• 1% rule +4.2/10.0
• Livability +3.9/5.0
• Schools +3.3/10.0
• Condition / age +2.5/5.0

Listing remarks

Discover a truly one-of-a-kind property at 134 Buffum St. , a beautiful 4-bedroom, 1.5-bath colonial barn conversion set on an expansive 21,000 sq. ft. lot. Originally a barn, this home skillfully blends historic character with classic comforts, including spacious living areas and an oversized two car garage with single door and attached workshop/ storage area. Located across from Seneca Indian Park and minutes from some of South Buffalo’s favorite restaurants, shopping, and entertainment, including a short walk to Cazenovia Park. This property offers the perfect combination of charm, space, and convenience. Showings begin immediately. Open House Saturday 3/28 1-3pm, Sunday 3/29 1-3pm

Key facts

• Expansive lot
• 0.48 acre lot
• 2 garage spots

Tags

• COLONIAL BARN CONVERSION
• EXPANSIVE LOT
• ATTACHED WORKSHOP STORAGE
• SHORT WALK TO CAZENOVIA PARK

What this means for you Summary

Snapshot

• This is a 4-bed/1.0-bath single-family listed at $180k.

Deal economics

• At list price, monthly cash flow is $234 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $165k (8.4% below list).
• Recommended offer: $165k (8.4% below list) — sets the bar for 1% rule.

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 rising fast (+12.7%/yr); 94 active listings in the ZIP; 2 comparable units currently listed for rent nearby; 1,244 units permitted in Erie County in 2024 (563 in 5+ unit buildings).
• This rent runs 36% of the median local income ($54k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Forward outlook

• In year one you build about $19k of equity ($1k loan paydown + $18k appreciation (10.0% local appreciation)).
• At projected returns (10.0% appreciation + 8.0% rent growth), your $50k cash investment doubles in ~3 years — after that, you're playing with house money.
• By year 2, paydown + projected appreciation supports a ~$31k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• Only 9 days on market — expect competitive offers; lowballing is unlikely to land.

Risks & watch-outs

• Watch-outs: built in 1892 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $164,748 (8.4% below list)

Questions for the listing agent

1. Built in 1892 — 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 for-sale + rental construction is in the pipeline within 1–3 miles? Heavy new supply typically softens prices + rents 12–24 months out; constrained supply supports both.

Investment metrics

• 1% rule: 0.92% ✗
• Cap rate: 7.85%
• Cash-on-cash: 5.58%
• DSCR: 1.25
• GRM: 9.1

CMA / ARV

• ARV (on-the-fly): $267,720
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
27 Dorr St	0.27mi	4/2.0	1,817 (-6%)	7mo	$250,000	$138	67
35 Buffum St	0.19mi	3/1.5 (-1)	2,042 (+5%)	13mo	$210,000	$103	65
5 Yale Pl	0.45mi	4/2.0	1,953 (+1%)	18mo	$310,248	$159	59
29 Aurora Ave	0.69mi	3/1.0 (-1)	1,857 (-4%)	2mo	$75,000	$40	54
29 Pomona Pl	0.69mi	3/1.0 (-1)	1,771 (-9%)	4mo	$91,000	$51	45
40 Edson St	0.35mi	4/1.5	1,676 (-14%)	19mo	$250,000	$149	43
22 Cazenovia St	0.64mi	4/2.0	1,690 (-13%)	3mo	$285,000	$169	43
31 Pawnee Pkwy	0.47mi	5/2.0 (+1)	1,782 (-8%)	18mo	$184,500	$104	40
188 Cumberland Ave	0.73mi	4/2.0	1,723 (-11%)	9mo	$143,000	$83	36
74 Columbia Pkwy	0.64mi	3/1.5 (-1)	2,171 (+12%)	10mo	$309,900	$143	35
111 Sage Ave	0.74mi	4/1.5	1,676 (-14%)	8mo	$165,000	$98	34
21 Chamberlin Dr	0.67mi	3/1.5 (-1)	1,732 (-11%)	17mo	$255,000	$147	29

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

Projected returns pro-forma

10.0% appreciation · 8.0% rent growth · sell at horizon

5-year hold

• IRR: 30.1%
• Equity multiple: 3.41×
• Total profit: $121,511
• Equity at exit: $162,068

10-year hold

• IRR: 27.5%
• Equity multiple: 8.30×
• Total profit: $367,510
• Equity at exit: $349,506

Cash invested: $50,372 (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 14210

• Home prices YoY: 13.8%
• Rents YoY: 12.7%
• Active inventory: 94
• Price-to-rent: 9.1×

Monthly cashflow live

• Estimated rent: $1,647 medium
• Mortgage (P&I): −$943
• Tax from tax record: −$49 /mo · $588/yr
• Insurance: −$75
• HOA: −$0
• Vacancy / Maint / Mgmt: −$346
• Net cashflow: $234

Break-even live

Break-even rent $1,351

Max offer price $179,900

Occupancy floor 81%

Sensitivity live

Price	-10% $336	-5% $285	+0% $234	+5% $183	+10% $132
Rent	-10% $104	-5% $169	+0% $234	+5% $299	+10% $364
Rate	-1.0pp $325	-0.5pp $280	base $234	+0.5pp $187	+1.0pp $140

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: $44,975
• Closing costs: $5,397
• Reserves months: —
• Total cash needed: —

Rent comps 2 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
89 Macamley St #2 Buffalo, NY	3.0	1.0	1274	$1,100	$0.86	11d	1	1.20mi
74 Woodside Ave Unit 1 Buffalo, NY	3.0	1.0	1250	$1,510	$1.21	2d	1	1.31mi

Listing history 2 events

1. 2026-04-02
   status Pending
2. 2026-03-24
   listed $179,900 Active

ⓘ 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: $588 · $49/mo
• Projected year-2 tax: $1,814 · $151/mo
• Expected delta: +$1,226/yr (+$102/mo · 208.3%)

ⓘ 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 2/10 Low 7 d/yr ≥92°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: $19,770
• − Mortgage interest: −$10,077
• − Property taxes: −$588
• − Insurance: −$900
• − Repairs & maintenance: −$1,582
• − Management: −$1,582
• − Depreciation: −$5,233
• Taxable loss: −$192
• Est. tax savings @ 24.0%: +$46
• After-tax cash flow: $2,855/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): 15,563
• Household income: $54,197
• Rent vs Own: 53.9% rent · 46.1% own
• Severe rent burden: 959.0

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 White (79%)
• Race & ethnicity: White 79% Two or more races 8% Black 8% Hispanic / Latino 7% Asian 1%
• Hispanic origin (detail): Puerto Rican 6%
• Common ancestry: Romanian 21% Lithuanian 2% Serbian 1%
• Foreign-born: 2% · Canada, China
• Languages at home: 95% English-only · Spanish 2% Arabic 1% Other Indo-European 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: ▲ 52.34%
• Current HPI: 431.7951
• Rent YoY: ▲ 12.67%
• 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

2 events — show timeline

• 2026-04-02 Pending — WNYREIS
• 2026-03-24 Listed $179,900 WNYREIS

Property tax history

+3.2%/yr

Latest (2025): $588 · +0.0% YoY. Source: county tax records.