235 Courtland Ave · Buffalo, NY 14215

$129,900

2 bd · 1.0 ba · 903 sqft · SingleFamily public records · 45 Days on market

Built 1920 3,060 sqft lot $144/sqft · at area comps Est $191k · 32% under

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Why this score? — see what drove the C 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 +20.8/30.0
• ARV discount +15.0/15.0
• DSCR +6.6/10.0
• 1% rule +4.2/10.0
• Livability +3.9/5.0
• Schools +3.3/10.0
• Rent growth +2.7/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Welcome to 235 Courtland Ave, Buffalo, NY 14215 – a charming single-family home located in a desirable neighborhood. The lower level features 2 spacious bedrooms, a full bathroom, a bright living room, dining area, and a functional kitchen. The upper level offers 2 additional bedrooms, perfect for a growing family or extra guest space. Square footage is different than tax records, please see attach floor plan.

Key facts

• 3,060 sq ft lot
• Garage
• Built 1920

Property features AI

Exterior

• Parking: Detached 1-car garage
• Utilities: Public water connected; Sewer connected; Electric service with circuit breakers
• Home design: Two-story house; Resale property
• Construction: Vinyl siding; Asphalt roof; Block foundation; PEX plumbing
• Exterior features: Concrete driveway; Open porch

Interior

• Kitchen: Electric cooktop; Refrigerator
• Bedrooms: Two main-level bedrooms; Two bedrooms on second floor; Total of 4 bedrooms
• Flooring: Vinyl and varying flooring
• Bathrooms: One full bathroom (main level)
• Heating & cooling: Gas forced-air heating
• Interior features: Accessible doors; Ceiling fan(s); Separate/formal dining room
• Laundry & utility: Laundry in basement; Gas water heater

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $130k.

Deal economics

• At list price, monthly cash flow is $177 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $119k (8.5% below list).
• Recommended offer: $119k (8.5% below list) — sets the bar for 1% rule.

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 flat; 237 active listings in the ZIP; 16 comparable units currently listed for rent nearby; rentals lingering (median 44d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 56% of comp listings sitting > 30 days — soft ceiling on asking rent; lower-income renter base — watch delinquency; 1,244 units permitted in Erie County in 2024 (563 in 5+ unit buildings).
• This rent runs 32% of the median local income ($45k/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 $898 of loan paydown is wiped out by about $4k of value loss. Plan a longer hold.

Negotiation context

• It's been on market 45 days — a 3% lower offer ($126k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts; this cycle's ask has dropped $10k (7%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $60k; list at $130k implies a 116% 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 $118,883 (8.5% below list)

Questions for the listing agent

1. It's been on market 45 days. Have you received any prior offers? Is the seller open to a 8% concession, seller financing, or rate buy-down credit?
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. 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: 0.92% ✗
• Cap rate: 7.93%
• Cash-on-cash: 5.84%
• DSCR: 1.26
• GRM: 9.1

CMA / ARV

• ARV (median comp): $191,424
• List price: $129,900
• Delta: -32.14%
• 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
219 Hagen St	0.38mi	3/1.0 (+1)	893 (-1%)	8mo	$90,000	$101	69
340 Martha Ave	0.63mi	2/1.0	936 (+4%)	9mo	$180,000	$192	58
141 Hagen St	0.53mi	3/1.0 (+1)	961 (+6%)	8mo	$90,000	$94	53
92 Arden Ave	0.19mi	3/1.0 (+1)	1,015 (+12%)	19mo	$142,000	$140	50
306 Weston Ave	0.25mi	3/1.5 (+1)	985 (+9%)	20mo	$170,000	$173	49
37 Gail Ave	0.58mi	3/1.0 (+1)	962 (+6%)	11mo	$200,000	$208	48
91 Roma Ave	0.31mi	3/1.0 (+1)	990 (+10%)	22mo	$60,000	$61	47
23 Connelly Ave	0.59mi	3/1.0 (+1)	988 (+9%)	16mo	$75,000	$76	38
342 Phyllis Ave	0.72mi	3/1.0 (+1)	960 (+6%)	16mo	$170,000	$177	38
88 Roosevelt Ave	0.55mi	2/1.0	1,014 (+12%)	21mo	$150,000	$148	37
48 Barbara Pl	0.61mi	3/1.0 (+1)	980 (+8%)	22mo	$115,000	$117	34
169 Davidson Ave	0.73mi	3/2.0 (+1)	1,033 (+14%)	9mo	$192,000	$186	25

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 · 0.67% rent growth · sell at horizon

5-year hold

• IRR: -9.6%
• Equity multiple: 0.65×
• Total profit: $-12,556
• Equity at exit: $19,369

10-year hold

• IRR: -3.3%
• Equity multiple: 0.80×
• Total profit: $-7,337
• Equity at exit: $11,231

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 14215

• Home prices YoY: -30.0%
• Rents YoY: 0.7%
• Active inventory: 237
• Price-to-rent: 9.1×

Monthly cashflow live

• Estimated rent: $1,189 high
• Mortgage (P&I): −$681
• Tax from tax record: −$27 /mo · $320/yr
• Insurance: −$54
• HOA: −$0
• Vacancy / Maint / Mgmt: −$250
• Net cashflow: $177

Break-even live

Break-even rent $965

Max offer price $129,900

Occupancy floor 80%

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 16 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
160 Courtland Ave Buffalo, NY	2.0	1.0	810	$1,025	$1.27	14d	1	0.18mi
17 Proctor Ave Unit 1 Buffalo, NY	2.0	1.0	900	$1,100	$1.22	43d	1	0.31mi
249 Newburgh Ave Unit 2 Buffalo, NY	2.0	1.0	930	$1,300	$1.40	43d	1	0.38mi
61 Courtland Ave Unit Lower Buffalo, NY	2.0	1.0	1000	$1,300	$1.30	43d	1	0.40mi
103 Preston Rd Unit Lower Cheektowaga, NY	2.0	1.0	882	$1,300	$1.47	3d	1	0.59mi
97 Davidson Ave Buffalo, NY	3.0	1.0	925	$1,495	$1.62	1d	1	0.72mi
56 Hagen St #2 Buffalo, NY	2.0	1.0	850	$950	$1.12	43d	1	0.72mi
50 Pine Ridge Ter Unit 3 Cheektowaga, NY	2.0	1.0	900	$1,400	$1.56	17d	1	0.87mi
90 Sussex St Unit 2 Buffalo, NY	2.0	1.0	1000	$1,000	$1.00	43d	1	0.95mi
140 Parkridge Ave Buffalo, NY	3.0	1.0	990	$1,500	$1.52	43d	1	1.10mi
11 Kaufman Dr Buffalo, NY	2.0	1.0	900	$1,500	$1.67	43d	1	1.15mi
67 Moeller St Unit LOWER Buffalo, NY	3.0	1.0	960	$1,200	$1.25	23d	1	1.17mi
67 Moeller St Unit UPPER Buffalo, NY	3.0	1.0	960	$1,000	$1.04	3d	1	1.17mi
220 Dartmouth Ave Buffalo, NY	2.0	1.0	1000	$1,100	$1.10	23d	1	1.24mi
507 Lisbon Ave Unit 2 Buffalo, NY	2.0	1.0	850	$1,050	$1.24	43d	1	1.35mi
190 Manhattan Ave Buffalo, NY	2.0	1.0	724	$1,200	$1.66	43d	1	1.36mi

Listing history 18 events

1. 2026-06-18
   days on market $129,900 Active 45 DOM
2. 2026-06-17
   days on market $129,900 Active 44 DOM
3. 2026-06-16
   days on market $129,900 Active 43 DOM
4. 2026-06-15
   days on market $129,900 Active 42 DOM
5. 2026-06-13
   days on market $129,900 Active 40 DOM
6. 2026-06-13
   days on market $129,900 Active 39 DOM
7. 2026-06-10
   days on market $129,900 Active 37 DOM
8. 2026-06-09
   days on market $129,900 Active 36 DOM
9. 2026-06-08
   days on market $129,900 Active 35 DOM
10. 2026-06-07
    days on market $129,900 Active 34 DOM
11. 2026-06-03
    days on market $129,900 Active 30 DOM
12. 2026-06-02
    days on market $129,900 Active 29 DOM
13. 2026-06-01
    days on market $129,900 Active 28 DOM
14. 2026-05-31
    days on market $129,900 Active 27 DOM
15. 2026-05-04
    listed $139,900 Active 419-char remark
16. 2025-12-31
    historical
17. 2025-08-29
    listed $139,900 Active
18. 2022-09-28
    soldstatus $60,000

ⓘ 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: $320 · $27/mo
• Projected year-2 tax: $1,258 · $105/mo
• Expected delta: +$937/yr (+$78/mo · 292.7%)

ⓘ 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 ≥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: $14,266
• − Mortgage interest: −$7,276
• − Property taxes: −$320
• − Insurance: −$650
• − Repairs & maintenance: −$1,141
• − Management: −$1,141
• − Depreciation: −$3,779
• Taxable loss: −$42
• Est. tax savings @ 24.0%: +$10
• After-tax cash flow: $2,136/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): 42,524
• Household income: $44,955
• Rent vs Own: 50.0% rent · 50.0% own
• Severe rent burden: 2873.0

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 Black (67%)
• Race & ethnicity: Black 67% White 15% Asian 7% Hispanic / Latino 6% Two or more races 6%
• Hispanic origin (detail): Puerto Rican 4%
• Common ancestry: Romanian 4% Lithuanian 1% Italian 1%
• Foreign-born: 9% · Canada, China
• Languages at home: 88% English-only · Other Indo-European 4% 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: ▼ -126.29%
• Current HPI: 295.2966
• Rent YoY: ▲ 0.67%
• 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

+116.5% since first listed

5 events — show timeline

• 2026-05-27 Price Changed $129,900 WNYREIS
• 2026-05-04 Listed $139,900 WNYREIS
• 2025-12-31 Listing Removed — WNYREIS
• 2025-08-29 Listed $139,900 WNYREIS
• 2022-09-28 Sold (Public Records) $60,000 Public Records

Property tax history

+10.3%/yr

Latest (2025): $320 · +21.6% YoY. Source: county tax records.