213 Stevenson St · Buffalo, NY 14210

$265,000

6 bd · 2.0 ba · 2,200 sqft · MultiFamily public records · 21 Days on market

Built 1915 3,648 sqft lot Est $218k · 22% over

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

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

Steps away from Seneca Street redevelopment, don't miss out on this 3/3 double! Features updated eat-in kitchens with ceramic tile floors. Renovated bathrooms, updated electric, spacious living room dining room combo spaces. Detached garage, private yard! Call today for a private showing!

Key facts

• Tiled kitchen
• Updated kitchen
• Tiled bathrooms

Tags

• UPDATED KITCHEN
• UPDATED BATHROOM
• LUXURY VINYL FLOORING
• TILED KITCHEN
• TILED BATHROOMS
• NEW ARCHITECTURAL ROOF

Property features AI

Finance

• Financial info: Owner pays trash collection and water; Operating expenses may include insurance, maintenance, professional management, trash, and water/sewer (multi-family)

Exterior

• Parking: Has garage (1.5 spaces); Paved parking
• Utilities: Electricity connected; High-speed internet available; Cable available; Public water connected; Sewer connected
• Home design: Two-story multi-family (2 units); Residential 2-unit zoning; Resale condition
• Construction: Composite and vinyl siding; Asphalt architectural shingle roof; Block and stone foundation; Built existing (year built details: existing)
• Exterior features: Covered and open porch; Near public transit; Rectangular residential lot; City street frontage

Interior

• Kitchen: Gas water heater
• Bedrooms: Two-unit property (unit-specific bedroom counts not provided)
• Flooring: Carpet; Luxury vinyl; Tile; Varied flooring
• Bathrooms: Two full bathrooms (total)
• Heating & cooling: Gas forced-air heating
• Interior features: Thermal windows; Natural woodwork; Full basement
• Laundry & utility: Washer hookup

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 $2k ($22k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($4k rent vs $265k).
• Recommended offer: $261k (1.5% below list) — sets the bar for market timing.
• Cap rate 14.7% 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: Rents rising fast (+12.7%/yr); 94 active listings in the ZIP; 1,244 units permitted in Erie County in 2024 (563 in 5+ unit buildings).
• At $4,320/mo this rent would consume 96% of the median local household income ($54k/yr) (locally 959% 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 $28k of equity ($2k loan paydown + $26k appreciation (10.0% local appreciation)).
• At projected returns (10.0% appreciation + 8.0% rent growth), your $74k cash investment doubles in ~2 years — after that, you're playing with house money.
• By year 2, paydown + projected appreciation supports a ~$46k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 21 days — a 2% lower offer ($261k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 7y 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 $140k; list at $265k implies a 89% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1915 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: major flood risk — expect insurance premiums to compound above CPI over the hold.

Recommended offer $261,025 (1.5% below list)

Questions for the listing agent

1. Built in 1915 — 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 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: 1.63% ✓
• Cap rate: 14.71%
• Cash-on-cash: 30.07%
• DSCR: 2.34
• GRM: 5.1

CMA / ARV

• ARV (on-the-fly): $217,800
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
42 Mineral Spring Rd	0.14mi	6/2.0	2,278 (+4%)	0mo	$300,000	$132	87
219 Stevenson St	0.01mi	6/2.0	2,332 (+6%)	6mo	$190,000	$81	84
132 Ryan St	0.35mi	6/3.0	2,230 (+1%)	7mo	$205,000	$92	72
35 Kimmel Ave	0.58mi	6/2.0	2,218 (+1%)	2mo	$225,000	$101	70
26 Kamper Ave	0.31mi	6/2.0	2,394 (+9%)	3mo	$179,000	$75	68
110 Armin Pl	0.29mi	5/2.0 (-1)	2,366 (+8%)	1mo	$235,000	$99	68
30 Geary St	0.19mi	6/2.0	2,438 (+11%)	7mo	$301,000	$123	67
96 Stevenson St	0.23mi	6/2.0	2,496 (+14%)	6mo	$272,096	$109	62
1726 S Park Ave	0.69mi	6/2.0	2,232 (+2%)	6mo	$77,500	$35	60
71 Buffum St	0.58mi	5/2.0 (-1)	2,136 (-3%)	6mo	$160,000	$75	58
389 Cumberland Ave	0.51mi	5/2.0 (-1)	2,328 (+6%)	5mo	$280,000	$120	57
39 Kimmel Ave	0.58mi	6/2.0	2,016 (-8%)	4mo	$152,000	$75	56

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: 50.0%
• Equity multiple: 4.85×
• Total profit: $285,454
• Equity at exit: $238,733

10-year hold

• IRR: 45.7%
• Equity multiple: 11.83×
• Total profit: $803,852
• Equity at exit: $514,837

Cash invested: $74,200 (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: 15.3×

Monthly cashflow live

• Estimated rent: $4,320 medium
• Mortgage (P&I): −$1,390
• Tax from tax record: −$54 /mo · $644/yr
• Insurance: −$110
• HOA: −$0
• Vacancy / Maint / Mgmt: −$907
• Net cashflow: $1,859

Break-even live

Break-even rent $1,967

Max offer price $265,000

Occupancy floor 52%

Sensitivity live

Price	-10% $2,009	-5% $1,934	+0% $1,859	+5% $1,784	+10% $1,709
Rent	-10% $1,518	-5% $1,688	+0% $1,859	+5% $2,030	+10% $2,200
Rate	-1.0pp $1,992	-0.5pp $1,926	base $1,859	+0.5pp $1,790	+1.0pp $1,721

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

Units	Beds	Baths	Est. rent
▸ 3× units	3	1	$4,320
Total (3 units)			$4,320

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: $66,250
• Closing costs: $7,950
• Reserves months: —
• Total cash needed: —

Listing history 22 events

1. 2026-06-18
   days on market $265,000 Active 21 DOM
2. 2026-06-17
   days on market $265,000 Active 20 DOM
3. 2026-06-16
   days on market $265,000 Active 19 DOM
4. 2026-06-15
   days on market $265,000 Active 18 DOM
5. 2026-06-13
   days on market $265,000 Active 16 DOM
6. 2026-06-13
   days on market $265,000 Active 15 DOM
7. 2026-06-10
   days on market $265,000 Active 13 DOM
8. 2026-06-09
   days on market $265,000 Active 12 DOM
9. 2026-06-08
   days on market $265,000 Active 11 DOM
10. 2026-06-07
    days on market $265,000 Active 10 DOM
11. 2026-06-03
    days on market $265,000 Active 6 DOM
12. 2026-06-02
    days on market $265,000 Active 5 DOM
13. 2026-06-01
    days on market $265,000 Active 4 DOM
14. 2026-05-31
    days on market $265,000 Active 3 DOM
15. 2026-05-28
    listed $265,000 Active
16. 2020-01-23
    soldstatus $140,000 Closed Sale or Rented 290-char remark

    Show marketing remark (290 chars)

    Steps away from Seneca Street redevelopment, don't miss out on this 3/3 double! Features updated eat-in kitchens with ceramic tile floors. Renovated bathrooms, updated electric, spacious living room dining room combo spaces. Detached garage, private yard! Call today for a private showing!

17. 2020-01-23
    soldstatus $140,000

    Show marketing remark (290 chars)

    Steps away from Seneca Street redevelopment, don't miss out on this 3/3 double! Features updated eat-in kitchens with ceramic tile floors. Renovated bathrooms, updated electric, spacious living room dining room combo spaces. Detached garage, private yard! Call today for a private showing!

18. 2019-12-11
    status Pending Sale 290-char remark

    Show marketing remark (290 chars)

    Steps away from Seneca Street redevelopment, don't miss out on this 3/3 double! Features updated eat-in kitchens with ceramic tile floors. Renovated bathrooms, updated electric, spacious living room dining room combo spaces. Detached garage, private yard! Call today for a private showing!

19. 2019-11-20
    listed $149,900 Active 290-char remark

    Show marketing remark (290 chars)

    Steps away from Seneca Street redevelopment, don't miss out on this 3/3 double! Features updated eat-in kitchens with ceramic tile floors. Renovated bathrooms, updated electric, spacious living room dining room combo spaces. Detached garage, private yard! Call today for a private showing!

20. 2016-09-30
    soldstatus $30,000
21. 2004-05-27
    soldstatus $49,350
22. 1996-01-05
    soldstatus $80,850

ⓘ 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: $644 · $54/mo
• Projected year-2 tax: $2,561 · $213/mo
• Expected delta: +$1,917/yr (+$160/mo · 297.7%)

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

Climate risk First Street

• 🌊 Flood 6/10 Major FEMA zone X (unshaded) · 74% 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 3/10 Moderate 2 unhealthy d/yr today · 3 by 30 yrs out

Taxation est. · year 1

• Rental income: $51,840
• − Mortgage interest: −$14,844
• − Property taxes: −$644
• − Insurance: −$1,325
• − Repairs & maintenance: −$4,147
• − Management: −$4,147
• − Depreciation: −$7,709
• Taxable income: $19,023
• Est. tax owed @ 24.0%: −$4,566
• After-tax cash flow: $17,743/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

+227.8% since first listed

8 events — show timeline

• 2026-05-28 Listed $265,000 WNYREIS
• 2020-01-23 Sold (Public Records) $140,000 Public Records
• 2020-01-23 Sold (MLS) $140,000 WNYREIS
• 2019-12-11 Pending — WNYREIS
• 2019-11-20 Listed $149,900 WNYREIS
• 2016-09-30 Sold (Public Records) $30,000 Public Records
• 2004-05-27 Sold (Public Records) $49,350 Public Records
• 1996-01-05 Sold (Public Records) $80,850 Public Records

Property tax history

+5.8%/yr

Latest (2025): $644 · +36.8% YoY. Source: county tax records.