674 Humboldt Pkwy · Buffalo, NY 14211

$109,900

4 bd · 2.0 ba · 2,126 sqft · MultiFamily public records · 23 Days on market

Built 1920 4,500 sqft lot Est $174k · 37% under

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Why this score? — see what drove the A- 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
• Appreciation +6.0/10.0
• Livability +3.9/5.0
• Schools +3.3/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0

Multi-family units

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

Listing remarks

Great income opportunity in Buffalo’s Humboldt Parkway corridor! This classic two-family home features two long-term tenants currently in place, making it an excellent investment property with immediate cash flow potential. Both units have maintained occupancy and offer solid rental history. The home offers 4 bedrooms, 2 baths and approximately 2,126 sq ft of living space and is ideal for an investor looking to build rental income or add to an existing portfolio. While the property needs TLC and updating, it presents a wonderful value-add opportunity in a location with strong rental demand. Situated in the Grider neighborhood along Humboldt Parkway — historically one of Buffalo&

Key facts

• Strong rental demand
• Solid rental history
• Investment property

Tags

• TWO FAMILY HOME
• INVESTMENT PROPERTY
• SOLID RENTAL HISTORY
• STRONG RENTAL DEMAND
• MAJOR TRANSPORTATION ROUTES
• LOCAL AMENITIES

What this means for you Summary

Snapshot

• This is a 2 × 2-bed/1.0-bath units multifamily listed at $110k.

Deal economics

• At list price, monthly cash flow is $2k ($18k/yr) — positive. Per door: $766/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $110k).
• Recommended offer: $108k (1.5% below list) — sets the bar for market timing.
• Cap rate 23.0% 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: 172 active listings in the ZIP; 9 comparable units currently listed for rent nearby; rentals at typical pace (median 24d 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 $2,900/mo this rent would consume 96% 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 $3k of equity ($760 loan paydown + $2k appreciation (2.0% local appreciation)).
• At projected returns (2.0% appreciation + 3.0% rent growth), your $31k cash investment doubles in ~2 years — after that, you're playing with house money.

Negotiation context

• It's been on market 23 days — a 2% lower offer ($108k) is reasonable based on typical stale-listing flexibility.
• Current owner paid $45k; list at $110k implies a 144% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1920 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $108,251 (1.5% below list)

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. Built in 1920 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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?
6. 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.
7. 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.
8. 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: 2.64% ✓
• Cap rate: 23.02%
• Cash-on-cash: 59.72%
• DSCR: 3.66
• GRM: 3.2

CMA / ARV

• ARV (on-the-fly): $174,332
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
469 Woodlawn Ave	0.32mi	4/2.0	2,120 (-0%)	6mo	$250,000	$118	80
494 Riley St	0.57mi	4/2.0	2,145 (+1%)	2mo	$175,000	$82	70
502 Glenwood Ave	0.35mi	5/2.0 (+1)	2,294 (+8%)	7mo	$20,500	$9	60
24 Winslow Ave	0.52mi	5/2.0 (+1)	2,024 (-5%)	7mo	$220,000	$109	56
244 Purdy St	0.71mi	4/2.0	2,026 (-5%)	12mo	$145,000	$72	49
104 French St	0.58mi	4/2.0	1,930 (-9%)	11mo	$102,500	$53	48
75 Box Ave	0.51mi	4/2.0	1,817 (-14%)	6mo	$117,000	$64	47
1602 Jefferson Ave	0.59mi	5/2.0 (+1)	1,936 (-9%)	8mo	$290,000	$150	46
130 E Delavan Ave Unit N	0.61mi	5/3.0 (+1)	2,258 (+6%)	10mo	$115,000	$51	44
421 E Utica St	0.55mi	5/2.0 (+1)	2,377 (+12%)	10mo	$210,000	$88	41
49 Urban St	0.60mi	5/3.0 (+1)	1,849 (-13%)	9mo	$115,000	$62	34
65 Kingsley St	0.74mi	5/2.0 (+1)	1,884 (-11%)	11mo	$230,000	$122	32

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: 63.6%
• Equity multiple: 4.43×
• Total profit: $105,396
• Equity at exit: $43,640

10-year hold

• IRR: 64.0%
• Equity multiple: 8.98×
• Total profit: $245,600
• Equity at exit: $63,068

Cash invested: $30,772 (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: 172
• Price-to-rent: 6.3×

Monthly cashflow live

• Estimated rent: $2,900 high
• Mortgage (P&I): −$576
• Tax est. 1.5%: −$137 /mo · $1,648/yr
• Insurance: −$46
• HOA: −$0
• Vacancy / Maint / Mgmt: −$609
• Net cashflow: $1,532

Break-even live

Break-even rent $961

Max offer price $109,900

Occupancy floor 42%

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

Units	Beds	Baths	Est. rent
▸ 2× units	2	1	$2,900
Total (2 units)			$2,900

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: $27,475
• Closing costs: $3,297
• Reserves months: —
• Total cash needed: —

Rent comps 9 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
184 Butler Ave Unit 1545840P Buffalo, NY	4.0	1.0	1496	$3,226	$2.16	14d	1	0.12mi
73 Inter Park Ave Buffalo, NY	3.0	1.0	2080	$1,300	$0.62	14d	1	0.18mi
563 Humboldt Pkwy Buffalo, NY	3.0	1.0	2004	$1,200	$0.60	23d	1	0.19mi
82 Butler Ave Unit 2 Buffalo, NY	3.0	1.0	2752	$1,300	$0.47	43d	1	0.31mi
28 Lonsdale Rd Buffalo, NY	3.0	1.0	2735	$1,725	$0.63	43d	1	0.49mi
79 Walden Ave Buffalo, NY	3.0	1.0	2528	$1,250	$0.49	43d	1	1.06mi
517 Goodyear Ave Buffalo, NY	3.0	1.0	1559	$1,800	$1.15	19d	1	1.16mi
518 Wilson St Buffalo, NY	5.0	1.5	1848	$1,500	$0.81	23d	1	1.23mi
7 Berkley Pl Buffalo, NY	3.0	1.0	2879	$1,250	$0.43	3d	1	1.45mi

Listing history 4 events

1. 2026-03-20
   status Pending
2. 2026-03-06
   price $109,900
3. 2026-02-25
   listed $139,900 Active
4. 1993-04-22
   soldstatus $45,000

ⓘ 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: $34,800
• − Mortgage interest: −$6,156
• − Property taxes: −$1,648
• − Insurance: −$550
• − Repairs & maintenance: −$2,784
• − Management: −$2,784
• − Depreciation: −$3,197
• Taxable income: $17,681
• Est. tax owed @ 24.0%: −$4,243
• After-tax cash flow: $14,135/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): 24,663
• 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

+144.2% since first listed

4 events — show timeline

• 2026-03-20 Pending — WNYREIS
• 2026-03-06 Price Changed $109,900 WNYREIS
• 2026-02-25 Listed $139,900 WNYREIS
• 1993-04-22 Sold (Public Records) $45,000 Public Records

Property tax history

+3.5%/yr

Latest (2025): $196 · +0.0% YoY. Source: county tax records.