77 Sheffield Ave · Buffalo, NY 14220

$264,900

6 bd · 2.0 ba · 2,492 sqft · MultiFamily public records · 10 Days on market

Built 1920 3,450 sqft lot $106/sqft · 38% below area Est $430k · 38% under

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Why this score? — see what drove the D+ 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).

• ARV discount +15.0/15.0
• Cash flow +12.5/30.0
• Rent growth +4.4/5.0
• Livability +3.9/5.0
• DSCR +3.7/10.0
• Schools +3.3/10.0
• Condition / age +2.5/5.0
• 1% rule +2.3/10.0
• 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 MLS

3/3 Double in South Buffalo fully occupied currents rents are $800 for lower and $700 for upper. Roof approximately 8 years young (tear off), mechanics have been updated. All kitchen appliances stay.

Key facts

• Modern furnaces
• 3,450 sq ft lot
• Garage

Tags

• FULL ATTIC FOR STORAGE
• RECENT FULL TEAR-OFF ROOF
• UPDATED ELECTRIC SERVICES
• MODERN FURNACES

Property features AI

Finance

• Other: Two-unit property with separate gas and electric meters (2 gas meters, 2 electric meters); Operating expense details referenced in remarks
• Financial info: Owner pays water and trash (rental arrangements list water and trash included)

Exterior

• Parking: Detached or attached garage with one garage space; Paved parking; Two or more parking spaces
• Utilities: Cable available; Public water connected; Sewer connected; Circuit breaker electric
• Home design: Two-story building
• Construction: Vinyl siding; Copper plumbing; Architectural shingle roof; Stone foundation; Existing (previously built)
• Exterior features: Balcony; Open porch; Partial fencing; Near public transit; Rectangular residential lot; City street frontage

Interior

• Flooring: Ceramic tile; Hardwood; Laminate; Vinyl; Varied flooring
• Bathrooms: Two full bathrooms
• Heating & cooling: Gas forced-air heating
• Interior features: Leaded glass and thermal windows; Natural woodwork
• Laundry & utility: Washer hookup; Gas water heater

What this means for you Summary

Snapshot

• This is a 6-bed/2.0-bath multifamily listed at $265k.

Deal economics

• At list price, monthly cash flow is $-40 ($-486/yr) — negative.
• To cash-flow at today's rent, offer at most $258k (2.7% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $194k (26.9% below list).
• Recommended offer: $194k (26.9% below list) — sets the bar for 1% rule.
• Cap rate 6.1% vs local median 8.0% in Buffalo — below-typical yield; the buyer is paying a premium for something (appreciation thesis, condition, location) that the cap rate doesn't capture.

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 (+7.6%/yr); 136 active listings in the ZIP; 1,244 units permitted in Erie County in 2024 (563 in 5+ unit buildings).
• This rent runs 33% of the median local income ($71k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $2k of loan paydown is wiped out by about $8k of value loss. Plan a longer hold.

Negotiation context

• Only 10 days on market — expect competitive offers; lowballing is unlikely to land.
• 4 sale attempts since 16y ago 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 $135k; list at $265k implies a 96% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1920 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: moderate flood risk — expect insurance premiums to compound above CPI over the hold.

Recommended offer $193,610 (26.9% below list)

Questions for the listing agent

1. What do current leases actually rent for vs. the listed asking? Can we see a recent rent roll and the last 12 months of T-12 income?
2. Built in 1920 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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?
5. The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?
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: 0.73% ✗
• Cap rate: 6.11%
• Cash-on-cash: -0.65%
• DSCR: 0.97
• GRM: 11.4

CMA / ARV

• ARV (median comp): $430,409
• List price: $264,900
• Delta: -38.45%
• 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
75 Harding Rd	0.17mi	6/2.0	2,703 (+8%)	0mo	$305,000	$113	78
2267 S Park Ave #2	0.44mi	6/2.0	2,496 (+0%)	3mo	$140,000	$56	77
33 Harding Rd	0.19mi	6/2.0	2,670 (+7%)	5mo	$329,000	$123	75
276 Choate Ave	0.39mi	6/2.0	2,608 (+5%)	4mo	$195,000	$75	70
155 Altruria St	0.27mi	6/2.0	2,720 (+9%)	2mo	$169,900	$62	70
51 Olcott Ave	0.40mi	6/2.0	2,592 (+4%)	6mo	$306,000	$118	70
97 Red Jacket Pkwy	0.55mi	6/2.0	2,588 (+4%)	1mo	$220,000	$85	67
16 Lorraine Ave	0.33mi	6/2.0	2,688 (+8%)	6mo	$240,000	$89	67
32 Magnolia Ave	0.53mi	6/2.0	2,376 (-5%)	5mo	$225,000	$95	64
389 Cumberland Ave	0.69mi	5/2.0 (-1)	2,328 (-7%)	5mo	$280,000	$120	48
110 Trowbridge St	0.71mi	6/2.0	2,264 (-9%)	4mo	$180,000	$80	48
1726 S Park Ave	0.66mi	6/2.0	2,232 (-10%)	6mo	$77,500	$35	47

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 · 7.62% rent growth · sell at horizon

5-year hold

• IRR: -13.1%
• Equity multiple: 0.51×
• Total profit: $-36,215
• Equity at exit: $39,497

10-year hold

• IRR: 1.2%
• Equity multiple: 1.10×
• Total profit: $7,141
• Equity at exit: $22,904

Cash invested: $74,172 (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 14220

• Home prices YoY: -26.7%
• Rents YoY: 7.6%
• Active inventory: 136
• Price-to-rent: 11.4×

Monthly cashflow live

• Estimated rent: $1,936 medium
• Mortgage (P&I): −$1,389
• Tax from tax record: −$70 /mo · $845/yr
• Insurance: −$110
• HOA: −$0
• Vacancy / Maint / Mgmt: −$407
• Net cashflow: $-40

Break-even live

Break-even rent $1,987

Max offer price $257,751

Occupancy floor 97%

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: $66,225
• Closing costs: $7,947
• Reserves months: —
• Total cash needed: —

Listing history 16 events

1. 2026-05-15
   status Pending 1016-char remark
2. 2026-05-05
   listed $264,900 Active 1016-char remark
3. 2018-05-16
   soldstatus $135,000 Closed Sale or Rented 199-char remark

   Show marketing remark (199 chars)

   3/3 Double in South Buffalo fully occupied currents rents are $800 for lower and $700 for upper. Roof approximately 8 years young (tear off), mechanics have been updated. All kitchen appliances stay.

4. 2018-05-16
   soldstatus $135,000

   Show marketing remark (199 chars)

   3/3 Double in South Buffalo fully occupied currents rents are $800 for lower and $700 for upper. Roof approximately 8 years young (tear off), mechanics have been updated. All kitchen appliances stay.

5. 2018-05-02
   status Pending Sale 199-char remark

   Show marketing remark (199 chars)

   3/3 Double in South Buffalo fully occupied currents rents are $800 for lower and $700 for upper. Roof approximately 8 years young (tear off), mechanics have been updated. All kitchen appliances stay.

6. 2018-03-30
   status Under Contract- Do Not Show 199-char remark

   Show marketing remark (199 chars)

   3/3 Double in South Buffalo fully occupied currents rents are $800 for lower and $700 for upper. Roof approximately 8 years young (tear off), mechanics have been updated. All kitchen appliances stay.

7. 2018-03-24
   listed $139,900 Active 199-char remark

   Show marketing remark (199 chars)

   3/3 Double in South Buffalo fully occupied currents rents are $800 for lower and $700 for upper. Roof approximately 8 years young (tear off), mechanics have been updated. All kitchen appliances stay.

8. 2017-09-01
   soldstatus $120,000 Closed Sale or Rented

   Show marketing remark (646 chars)

   Great opportunity to own a solid, low maintenance vinyl 3/3 double in desirable South Buffalo neighborhood! Driveway, garage, fenced in yard! Younger tear off roof, solid mechanical systems for each unit. Full basement with glass block, large walk-up attic. Each unit features a classic formal dining area/living room combo. Kitchen appliances stay in both units. Many cosmetic updates in lower unit including new carpeting, new pergo flooring, tray ceiling in dining room, many replacement windows, recently updated bathroom! Lower tenant is on lease until September. Upper unit has been updated and has long term tenants who would love to stay.

9. 2017-09-01
   soldstatus $120,000

   Show marketing remark (646 chars)

   Great opportunity to own a solid, low maintenance vinyl 3/3 double in desirable South Buffalo neighborhood! Driveway, garage, fenced in yard! Younger tear off roof, solid mechanical systems for each unit. Full basement with glass block, large walk-up attic. Each unit features a classic formal dining area/living room combo. Kitchen appliances stay in both units. Many cosmetic updates in lower unit including new carpeting, new pergo flooring, tray ceiling in dining room, many replacement windows, recently updated bathroom! Lower tenant is on lease until September. Upper unit has been updated and has long term tenants who would love to stay.

10. 2017-07-12
    status Pending Sale

    Show marketing remark (646 chars)

    Great opportunity to own a solid, low maintenance vinyl 3/3 double in desirable South Buffalo neighborhood! Driveway, garage, fenced in yard! Younger tear off roof, solid mechanical systems for each unit. Full basement with glass block, large walk-up attic. Each unit features a classic formal dining area/living room combo. Kitchen appliances stay in both units. Many cosmetic updates in lower unit including new carpeting, new pergo flooring, tray ceiling in dining room, many replacement windows, recently updated bathroom! Lower tenant is on lease until September. Upper unit has been updated and has long term tenants who would love to stay.

11. 2017-07-06
    historical Under Contract- Do Not Show

    Show marketing remark (646 chars)

    Great opportunity to own a solid, low maintenance vinyl 3/3 double in desirable South Buffalo neighborhood! Driveway, garage, fenced in yard! Younger tear off roof, solid mechanical systems for each unit. Full basement with glass block, large walk-up attic. Each unit features a classic formal dining area/living room combo. Kitchen appliances stay in both units. Many cosmetic updates in lower unit including new carpeting, new pergo flooring, tray ceiling in dining room, many replacement windows, recently updated bathroom! Lower tenant is on lease until September. Upper unit has been updated and has long term tenants who would love to stay.

12. 2017-06-27
    listed $109,900 Active

    Show marketing remark (646 chars)

    Great opportunity to own a solid, low maintenance vinyl 3/3 double in desirable South Buffalo neighborhood! Driveway, garage, fenced in yard! Younger tear off roof, solid mechanical systems for each unit. Full basement with glass block, large walk-up attic. Each unit features a classic formal dining area/living room combo. Kitchen appliances stay in both units. Many cosmetic updates in lower unit including new carpeting, new pergo flooring, tray ceiling in dining room, many replacement windows, recently updated bathroom! Lower tenant is on lease until September. Upper unit has been updated and has long term tenants who would love to stay.

13. 2011-05-03
    soldstatus $100,220
14. 2011-05-03
    soldstatus $100,220
15. 2011-04-25
    soldstatus $100,220
16. 2010-08-20
    listed $98,000

ⓘ 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: $845 · $70/mo
• Projected year-2 tax: $2,661 · $222/mo
• Expected delta: +$1,816/yr (+$151/mo · 214.8%)

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

Climate risk First Street

• 🌊 Flood 5/10 Major FEMA zone X (unshaded) · 49% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 3/10 Moderate 7 d/yr ≥92°F today · 15 d/yr by 30 yrs out
• 💨 Wind 1/10 Low
• 🫁 Air quality 4/10 Moderate 3 unhealthy d/yr today · 8 by 30 yrs out

Taxation est. · year 1

• Rental income: $23,233
• − Mortgage interest: −$14,839
• − Property taxes: −$845
• − Insurance: −$1,324
• − Repairs & maintenance: −$1,859
• − Management: −$1,859
• − Depreciation: −$7,706
• Taxable loss: −$5,199
• Est. tax savings @ 24.0%: +$1,248
• After-tax cash flow: $762/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): 24,428
• Household income: $70,963
• Rent vs Own: 29.3% rent · 70.7% own
• Severe rent burden: 602.0

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 (76%)
• Race & ethnicity: White 76% Hispanic / Latino 13% Two or more races 6% Black 5% Asian 2%
• Hispanic origin (detail): Puerto Rican 10% Cuban 1%
• Common ancestry: Romanian 16% Lithuanian 1% Subsaharan African 1%
• Foreign-born: 4% · Canada, Jamaica, China
• Languages at home: 90% English-only · 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: ▼ -146.29%
• Current HPI: 402.5053
• Rent YoY: ▲ 7.62%
• 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

+170.3% since first listed

16 events — show timeline

• 2026-05-15 Pending — WNYREIS
• 2026-05-05 Listed $264,900 WNYREIS
• 2018-05-16 Sold (Public Records) $135,000 Public Records
• 2018-05-16 Sold (MLS) $135,000 WNYREIS
• 2018-05-02 Pending — WNYREIS
• 2018-03-30 Pending — WNYREIS
• 2018-03-24 Listed $139,900 WNYREIS
• 2017-09-01 Sold (Public Records) $120,000 Public Records
• 2017-09-01 Sold (MLS) $120,000 WNYREIS
• 2017-07-12 Pending — WNYREIS
• 2017-07-06 Contingent — WNYREIS
• 2017-06-27 Listed $109,900 WNYREIS
• 2011-05-03 Sold (Public Records) $100,220 Public Records
• 2011-05-03 Sold (Public Records) $100,220 Public Records
• 2011-04-25 Sold (MLS) $100,220 WNYREIS
• 2010-08-20 Listed $98,000 WNYREIS

Property tax history

+8.3%/yr

Latest (2025): $845 · +21.6% YoY. Source: county tax records.