79 Folger St · Buffalo, NY 14220

$179,000

4 bd · 2.0 ba · 1,633 sqft · MultiFamily public records · 13 Days on market

Built 1950 4,800 sqft lot Est $173k · at est.

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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 +30.0/30.0
• DSCR +10.0/10.0
• 1% rule +7.7/10.0
• ARV discount +6.0/15.0
• Rent growth +4.4/5.0
• Livability +3.9/5.0
• Schools +3.3/10.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Multi-family units

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

Listing remarks MLS

Great opportunity. South Buffalo double would make good investment. Both units have month to month tenants. Needs a little cosmetics and elbow grease. Make an offer.

Key facts

• Quiet street
• Multi family home
• Strong rental demand

Tags

• INCOME PRODUCING
• MULTI FAMILY HOME
• QUIET STREET
• STRONG RENTAL DEMAND
• TIMELESS BUFFALO CHARM

Property features AI

Finance

• Other: Two total units with separate gas and electric meters (2 each)
• Financial info: Owner pays water; Operating expenses include water/sewer

Exterior

• Parking: Concrete parking
• Utilities: Public water connected; Sewer available
• Home design: 2-story property; Resale property
• Construction: Vinyl siding; Existing construction
• Exterior features: Rectangular residential lot; City street frontage; Lot dimensions approximately 40 x 120

Interior

• Flooring: Vinyl flooring; Varied flooring
• Bathrooms: 2 full bathrooms
• Heating & cooling: Gas forced-air heating
• Interior features: Full basement
• Laundry & utility: Gas water heater

What this means for you Summary

Snapshot

• This is a 2 × 2-bed/1.0-bath units multifamily listed at $179k.

Deal economics

• At list price, monthly cash flow is $680 ($8k/yr) — positive. Per door: $340/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $179k).
• Cap rate 11.2% 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: Rents rising fast (+7.6%/yr); 136 active listings in the ZIP; 10 comparable units currently listed for rent nearby; rentals at typical pace (median 14d on market — plan ~3-4 weeks tenant-placement turnaround); 1,244 units permitted in Erie County in 2024 (563 in 5+ unit buildings).
• This rent runs 39% 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 $1k of loan paydown is wiped out by about $5k of value loss. Plan a longer hold.
• At projected returns (-3.0% appreciation + 7.6% rent growth), your $50k cash investment doubles in ~6 years — after that, you're playing with house money.

Negotiation context

• Only 13 days on market — expect competitive offers; lowballing is unlikely to land.
• 2 sale attempts since 13y 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.

Risks & watch-outs

• Watch-outs: flood insurance adds $56/mo; built in 1950 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: major flood risk — expect insurance premiums to compound above CPI over the hold.

Recommended offer $179,000

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 1950 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
4. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. 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?
7. 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.
8. 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.
9. 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: 1.27% ✓
• Cap rate: 11.23%
• Cash-on-cash: 17.62%
• DSCR: 1.78
• GRM: 6.5

CMA / ARV

• ARV (on-the-fly): $173,098
• Comps found: 8

Show comp detail 8 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
119 Trowbridge St	0.13mi	3/2.0 (-1)	1,505 (-8%)	12mo	$133,400	$89	66
327 Mystic St	0.46mi	4/2.0	1,714 (+5%)	10mo	$180,000	$105	62
199 Amber St	0.34mi	3/2.0 (-1)	1,543 (-6%)	10mo	$159,900	$104	62
165 Lockwood Ave	0.37mi	4/3.0	1,865 (+14%)	3mo	$195,000	$105	53
183 Lockwood Ave	0.38mi	4/2.0	1,858 (+14%)	12mo	$197,500	$106	49
16 Culver Rd	0.68mi	4/2.0	1,800 (+10%)	7mo	$262,000	$146	45
171 Lockwood Ave	0.38mi	5/2.0 (+1)	1,817 (+11%)	24mo	$212,000	$117	39
55 Harding Rd	0.69mi	4/2.0	1,844 (+13%)	9mo	$275,000	$149	39

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: 12.1%
• Equity multiple: 1.51×
• Total profit: $25,382
• Equity at exit: $26,689

10-year hold

• IRR: 24.3%
• Equity multiple: 3.55×
• Total profit: $127,831
• Equity at exit: $15,477

Cash invested: $50,120 (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: 13.1×

Monthly cashflow live

• Estimated rent: $2,280 high
• Mortgage (P&I): −$939
• Tax from tax record: −$52 /mo · $624/yr
• Insurance: −$75
• Flood insurance flood zone: −$56 /mo · $666/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$479
• Net cashflow: $680

Break-even live

Break-even rent $1,419

Max offer price $179,000

Occupancy floor 65%

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

Units	Beds	Baths	Est. rent
▸ 2× units	2	1	$2,280
Total (2 units)			$2,280

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: $44,750
• Closing costs: $5,370
• Reserves months: —
• Total cash needed: —

Rent comps 10 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	10d	1	0.31mi
700 Hopkins St Buffalo, NY	3.0	1.0	1100	$1,225	$1.11	14d	1	0.58mi
74 Woodside Ave Unit 1 Buffalo, NY	3.0	1.0	1250	$1,510	$1.21	1d	1	0.59mi
298 Cumberland Ave Buffalo, NY	3.0	1.5	1208	$2,200	$1.82	1d	1	0.72mi
76 Hammerschmidt Ave Buffalo, NY	3.0	1.0	1200	$1,275	$1.06	1d	1	0.89mi
1899 Seneca St Buffalo, NY	3.0	1.0	1134	$1,075	$0.95	14d	1	0.97mi
1927 Seneca St Buffalo, NY	3.0	1.0	1196	$1,250	$1.05	23d	1	0.98mi
34 Hayden St Unit Back Buffalo, NY	3.0	1.0	1200	$1,600	$1.33	43d	1	1.06mi
23 Indian Orchard Pl Unit Lower Buffalo, NY	3.0	1.0	1200	$1,250	$1.04	43d	1	1.32mi
102 Wildwood Pl Unit 1 Buffalo, NY	3.0	1.0	1100	$1,250	$1.14	15d	1	1.45mi

Listing history 9 events

1. 2026-06-16
   statusdays on market $179,000 Pending 13 DOM
2. 2026-06-15
   days on market $179,000 Active 12 DOM
3. 2026-06-13
   days on market $179,000 Active 10 DOM
4. 2026-06-13
   days on market $179,000 Active 9 DOM
5. 2026-06-10
   days on market $179,000 Active 7 DOM
6. 2026-06-09
   days on market $179,000 Active 6 DOM
7. 2026-06-08
   days on market $179,000 Active 5 DOM
8. 2026-06-07
   remarks 675-char remark
9. 2026-06-07
   listed $179,000 Active 4 DOM

ⓘ 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: $624 · $52/mo
• Projected year-2 tax: $1,825 · $152/mo
• Expected delta: +$1,200/yr (+$100/mo · 192.3%)

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

Climate risk First Street

• 🌊 Flood 7/10 Severe FEMA zone X (unshaded) · 76% 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: $27,360
• − Mortgage interest: −$10,027
• − Property taxes: −$624
• − Insurance: −$1,562
• − Repairs & maintenance: −$2,189
• − Management: −$2,189
• − Depreciation: −$5,207
• Taxable income: $5,563
• Est. tax owed @ 24.0%: −$1,335
• After-tax cash flow: $6,829/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

+198.3% since first listed

5 events — show timeline

• 2026-06-03 Listed $179,000 WNYREIS
• 2021-09-21 Sold (Public Records) $1,597,618 Public Records
• 2014-03-31 Sold (MLS) $52,500 WNYREIS
• 2013-11-18 Listed $49,900 WNYREIS
• 2007-05-23 Sold (Public Records) $60,000 Public Records

Property tax history

+6.1%/yr

Latest (2025): $624 · +85.6% YoY. Source: county tax records.