33 Lafayette Ave · Buffalo, NY 14213

$129,900

3 bd · 1.0 ba · 1,252 sqft · SingleFamily public records · 38 Days on market

Built 1890 2,400 sqft lot $104/sqft · 29% below area Est $183k · 29% 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
• DSCR +10.0/10.0
• Appreciation +8.8/10.0
• 1% rule +8.3/10.0
• Livability +3.9/5.0
• Schools +3.3/10.0
• Condition / age +2.5/5.0
• Rent growth +2.4/5.0

Listing remarks

Beautiful single family home with 4 bedrooms, 2 full bathrooms along with many updates! The interior of the home features an updated eat in kitchen with magnificent wood cabinets, dishwasher and 1st floor laundry! Gleaming hardwood floors flow throughout the home, enhanced by abundant natural light that fills each room, creating a bright and spacious home. The updated bathrooms are radiantly exquisite offering comfort and elegance. Outside, enjoy a large front porch, perfect for relaxing, and a generous yard ideal for entertaining or play. Both the front and rear entrances feature stunning wooden doors that add warmth and character to this exceptional home.

Key facts

• Generous yard
• Large front porch
• 1st floor laundry

Tags

• UPDATED EAT IN KITCHEN
• 1ST FLOOR LAUNDRY
• LARGE FRONT PORCH
• GENEROUS YARD
• STUNNING WOODEN DOORS

Property features AI

Exterior

• Parking: No garage; No driveway
• Utilities: Public water (connected); Sewer connected
• Home design: Single-story; Resale property
• Construction: Aluminum siding; Vinyl siding; Poured foundation; Existing (built prior to listing)
• Exterior features: Deck; Open porch

Interior

• Kitchen: Eat-in kitchen; Granite counters; Solid surface counters
• Flooring: Hardwood; Varies
• Bathrooms: 2 full bathrooms; 1 main-level bathroom
• Heating & cooling: Electric forced-air heating
• Interior features: Eat-in kitchen; Granite counters; Solid surface counters
• Laundry & utility: Main-level laundry; Gas water heater

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $130k.

Deal economics

• At list price, monthly cash flow is $592 ($7k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $130k).
• Recommended offer: $126k (3.0% below list) — sets the bar for market timing.
• Cap rate 11.8% 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 soft (-0.5%/yr); 137 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals at typical pace (median 24d 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 38% 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 $11k of equity ($898 loan paydown + $10k appreciation (7.5% local appreciation)).
• At projected returns (7.5% appreciation + 0.0% rent growth), your $36k cash investment doubles in ~3 years — after that, you're playing with house money.
• By year 4, paydown + projected appreciation supports a ~$37k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 38 days — a 3% lower offer ($126k) is reasonable based on typical stale-listing flexibility.
• 5 sale attempts since 9y 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 $26k; list at $130k implies a 390% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1890 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $126,003 (3.0% below list)

Questions for the listing agent

1. It's been on market 38 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. Built in 1890 — 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. 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.
6. 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.
7. 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: 1.33% ✓
• Cap rate: 11.76%
• Cash-on-cash: 19.54%
• DSCR: 1.87
• GRM: 6.3

CMA / ARV

• ARV (median comp): $183,130
• List price: $129,900
• Delta: -29.07%
• 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
1193 West Ave	0.22mi	3/1.0	1,254 (+0%)	8mo	$240,000	$191	83
49 Gelston St	0.22mi	3/1.0	1,296 (+4%)	5mo	$139,000	$107	80
32 Lafayette Ave	0.04mi	3/1.5	1,390 (+11%)	8mo	$105,000	$76	72
95 Garner Ave	0.47mi	3/1.0	1,230 (-2%)	4mo	$100,000	$81	71
9 Congress St	0.31mi	4/1.0 (+1)	1,200 (-4%)	8mo	$130,000	$108	67
19 Lawrence Pl	0.63mi	2/1.5 (-1)	1,242 (-1%)	0mo	$365,000	$294	62
1061 Niagara St	0.54mi	3/1.0	1,183 (-6%)	5mo	$135,500	$115	62
187 Herkimer St	0.28mi	3/1.5	1,425 (+14%)	4mo	$105,000	$74	59
175 Garner Ave	0.58mi	4/2.0 (+1)	1,265 (+1%)	7mo	$105,000	$83	56
855 West Ave	0.43mi	3/1.5	1,432 (+14%)	3mo	$115,000	$80	52
119 Albany St	0.48mi	3/1.0	1,408 (+12%)	8mo	$180,000	$128	50
74 Baynes St	0.59mi	4/2.0 (+1)	1,075 (-14%)	4mo	$195,925	$182	37

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

Projected returns pro-forma

7.51% appreciation · 0.0% rent growth · sell at horizon

5-year hold

• IRR: 32.9%
• Equity multiple: 3.26×
• Total profit: $82,108
• Equity at exit: $94,408

10-year hold

• IRR: 28.5%
• Equity multiple: 6.52×
• Total profit: $200,812
• Equity at exit: $183,457

Cash invested: $36,372 (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 14213

• Home prices YoY: 1.7%
• Rents YoY: -0.5%
• Active inventory: 137
• Price-to-rent: 6.3×

Monthly cashflow live

• Estimated rent: $1,723 high
• Mortgage (P&I): −$681
• Tax from tax record: −$34 /mo · $403/yr
• Insurance: −$54
• HOA: −$0
• Vacancy / Maint / Mgmt: −$362
• Net cashflow: $592

Break-even live

Break-even rent $973

Max offer price $129,900

Occupancy floor 61%

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: $32,475
• Closing costs: $3,897
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1360 Niagara St Buffalo, NY	1.0–2.0	1.0–2.0	1252	$2,396	$1.91	1d	2	0.13mi
196 Auburn Ave Buffalo, NY	3.0	1.0	1000	$1,300	$1.30	43d	1	0.20mi
163 W Delavan Ave Buffalo, NY	3.0	1.0	1000	$1,500	$1.50	23d	1	0.22mi
232 Dewitt St Buffalo, NY	3.0	1.0	1200	$1,300	$1.08	23d	1	0.24mi
311 Herkimer St #1 Buffalo, NY	3.0	1.0	1272	$1,400	$1.10	14d	1	0.25mi
1485 Niagara St Buffalo, NY	1.0–2.0	1.0	925	$2,174	$2.35	1d	1	0.34mi
185 Potomac Ave Buffalo, NY	2.0	1.0	1200	$1,300	$1.08	23d	1	0.35mi
67 Herkimer St Buffalo, NY	3.0	1.0	1000	$1,300	$1.30	14d	1	0.43mi
257 Lafayette Ave Unit 317 Buffalo, NY	2.0	1.0	897	$1,400	$1.56	23d	1	0.43mi
257 Lafayette Ave Apt 319 Buffalo, NY	2.0	1.0	900	$1,395	$1.55	23d	1	0.44mi
310 Hampshire St Apt 3 Buffalo, NY	3.0	1.0	1200	$1,500	$1.25	43d	1	0.53mi
375 Hampshire St Buffalo, NY	3.0	1.0	1200	$1,100	$0.92	43d	1	0.57mi
100 Forest Ave Buffalo, NY	2.0–4.0	2.0–4.0	1304	$1,600	$1.23	1d	14	0.62mi
305 Bird Ave Unit 3 Buffalo, NY	3.0	1.5	1128	$2,300	$2.04	43d	1	0.62mi
309 Bird Ave Unit 1 Buffalo, NY	3.0	1.0	1100	$2,200	$2.00	43d	1	0.62mi
411 W Ferry St Buffalo, NY	2.0	1.0	900	$1,100	$1.22	14d	1	0.63mi
40 Putnam St Buffalo, NY	4.0	1.0	1600	$2,100	$1.31	23d	1	0.64mi
478 Breckenridge St Buffalo, NY	3.0	1.0	1100	$1,575	$1.43	43d	1	0.69mi
340 Bird Ave #202 Buffalo, NY	2.0	2.5	1505	$2,950	$1.96	10d	1	0.70mi
46 Hawley St #1 Buffalo, NY	2.0	1.0	900	$1,300	$1.44	43d	1	0.70mi
374 Baynes St Buffalo, NY	3.0	1.0	1126	$1,550	$1.38	43d	1	0.73mi
460 Rhode Island St Buffalo, NY	2.0	1.0	1089	$1,500	$1.38	14d	1	0.82mi
37 Abbottsford Pl Buffalo, NY	3.0	1.0	1130	$1,650	$1.46	43d	1	0.85mi
318 14th St Buffalo, NY	2.0	1.0	1619	$1,300	$0.80	11d	1	0.86mi
57 Abbottsford Pl Buffalo, NY	2.0	1.0	1000	$1,550	$1.55	23d	1	0.87mi
891 Richmond Ave Buffalo, NY	3.0	1.0	1176	$1,800	$1.53	43d	1	0.98mi
161 16th St Buffalo, NY	3.0	1.5	1500	$2,000	$1.33	23d	1	0.99mi
117 Bidwell Pkwy Unit 3 Buffalo, NY	2.0	1.0	1192	$1,500	$1.26	3d	1	1.00mi
102 17th St Buffalo, NY	2.0	1.0	1086	$1,290	$1.19	23d	1	1.01mi
664 Auburn Ave Unit 2 Buffalo, NY	2.0	1.0	900	$2,200	$2.44	43d	1	1.07mi
217 Norwood Ave Apt 1 Buffalo, NY	2.0	1.0	1500	$2,700	$1.80	43d	1	1.07mi
1015 Elmwood Ave Unit 3 Buffalo, NY	2.0	2.0	1000	$1,400	$1.40	43d	1	1.08mi
367 Connecticut St Unit 2 Buffalo, NY	2.0	2.0	1150	$3,000	$2.61	10d	1	1.09mi
685 Auburn Ave Buffalo, NY	2.0	1.0	1200	$1,600	$1.33	44d	1	1.11mi
685 Auburn Ave Unit 2 Buffalo, NY	3.0	1.0	1200	$1,750	$1.46	14d	1	1.11mi
305 W Utica St Unit B302 Buffalo, NY	2.0	2.0	1180	$2,060	$1.75	14d	1	1.12mi
569 Elmwood Ave Buffalo, NY	2.0	1.0	1500	$1,750	$1.17	11d	1	1.15mi
118 Ashland Ave Buffalo, NY	3.0	1.0	1326	$1,850	$1.40	14d	1	1.23mi
124 Normal Ave Unit 2 Buffalo, NY	3.0	1.0	1727	$2,000	$1.16	23d	1	1.24mi
451 Elmwood Ave Buffalo, NY	2.0	1.0	1633	$3,305	$2.02	43d	1	1.25mi

Listing history 27 events

1. 2026-06-18
   days on market $129,900 Active 38 DOM
2. 2026-06-17
   days on market $129,900 Active 37 DOM
3. 2026-06-16
   days on market $129,900 Active 36 DOM
4. 2026-06-15
   days on market $129,900 Active 35 DOM
5. 2026-06-13
   days on market $129,900 Active 33 DOM
6. 2026-06-13
   days on market $129,900 Active 32 DOM
7. 2026-06-10
   days on market $129,900 Active 30 DOM
8. 2026-06-09
   days on market $129,900 Active 29 DOM
9. 2026-06-08
   days on market $129,900 Active 28 DOM
10. 2026-06-07
    days on market $129,900 Active 27 DOM
11. 2026-06-03
    days on market $129,900 Active 23 DOM
12. 2026-06-02
    days on market $129,900 Active 22 DOM
13. 2026-06-01
    days on market $129,900 Active 21 DOM
14. 2026-05-31
    days on market $129,900 Active 20 DOM
15. 2026-05-11
    listed $129,900 Active 665-char remark
16. 2025-08-21
    status Pending
17. 2025-08-21
    historical
18. 2025-07-23
    status Active
19. 2025-07-22
    historical Active Under Contract
20. 2025-07-14
    listed $129,900 Active
21. 2020-11-05
    historical
22. 2020-09-22
    listed $179,900 Active
23. 2017-12-15
    soldstatus $26,500 Closed Sale or Rented
24. 2017-09-19
    status Under Contract- Do Not Show
25. 2017-09-05
    price $24,900
26. 2017-08-28
    listed $30,000 Active
27. 2009-11-20
    soldstatus $19,000

ⓘ 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: $403 · $34/mo
• Projected year-2 tax: $1,299 · $108/mo
• Expected delta: +$896/yr (+$75/mo · 222.5%)

ⓘ 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 3/10 Moderate 7 d/yr ≥92°F today · 14 d/yr by 30 yrs out
• 💨 Wind 1/10 Low
• 🫁 Air quality 4/10 Moderate 4 unhealthy d/yr today · 9 by 30 yrs out

Taxation est. · year 1

• Rental income: $20,676
• − Mortgage interest: −$7,276
• − Property taxes: −$403
• − Insurance: −$650
• − Repairs & maintenance: −$1,654
• − Management: −$1,654
• − Depreciation: −$3,779
• Taxable income: $5,260
• Est. tax owed @ 24.0%: −$1,263
• After-tax cash flow: $5,845/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): 24,107
• Household income: $53,870
• Rent vs Own: 60.5% rent · 39.5% own
• Severe rent burden: 1501.0

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: Highly diverse neighborhood (Simpson 0.70)
• Race & ethnicity: White 46% Hispanic / Latino 20% Black 18% Asian 12% Two or more races 10%
• Hispanic origin (detail): Mexican 1% Puerto Rican 16% Dominican 1%
• Common ancestry: Romanian 6% Slovak 3% Lithuanian 3%
• Foreign-born: 16% · Philippines, Canada, India
• Languages at home: 68% English-only · Spanish 12% Other Asian/Pacific 7% Arabic 3%

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: ▲ 7.51%
• Current HPI: 448.4879
• Rent YoY: ▼ -0.49%
• 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

+583.7% since first listed

13 events — show timeline

• 2026-05-11 Listed $129,900 WNYREIS
• 2025-08-21 Pending — WNYREIS
• 2025-08-21 Listing Removed — WNYREIS
• 2025-07-23 Relisted — WNYREIS
• 2025-07-22 Contingent — WNYREIS
• 2025-07-14 Listed $129,900 WNYREIS
• 2020-11-05 Listing Removed — WNYREIS
• 2020-09-22 Listed $179,900 WNYREIS
• 2017-12-15 Sold (MLS) $26,500 WNYREIS
• 2017-09-19 Pending — WNYREIS
• 2017-09-05 Price Changed $24,900 WNYREIS
• 2017-08-28 Listed $30,000 WNYREIS
• 2009-11-20 Sold (Public Records) $19,000 Public Records

Property tax history

+9.1%/yr

Latest (2025): $403 · +26.1% YoY. Source: county tax records.