192 York St · Buffalo, NY 14213

$299,000

3 bd · 3.0 ba · 1,884 sqft · MultiFamily public records · 39 Days on market

Built 1890 2,170 sqft lot Est $273k · 9% 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 +29.2/30.0
• DSCR +10.0/10.0
• Appreciation +8.8/10.0
• 1% rule +6.9/10.0
• Livability +3.9/5.0
• Schools +3.3/10.0
• ARV discount +3.2/15.0
• Condition / age +2.5/5.0
• Rent growth +2.4/5.0

Multi-family units

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

Listing remarks MLS

EXCEPTIONAL 2 BED 2 BATH UNIT WITH ALL THE MUST HAVES. COMPLETELY BRAND NEW RENOVATED 2 STORY UNIT. WIDE OPEN FLOOR PLAN FOR EASY ENTERTAINING AND LIVABILITY. GORGEOUS HARDWOODS THROUGHOUT, 2 NEW FULL BATHS, GOURMET KITCHEN WITH ALL APPLIANCES INCL DISHWASHER, 2ND FLOOR LAUNDRT WITH * * FRONT LOADER * * MACHINES!! TONS OF CLOSET SPACE TOO. OFF-STREET PARKING FOR 2 CARS!! SO STOP SEARCHING, AND CALL US TODAY.

Key facts

• Two family home
• Side by side units
• Updated kitchen

Tags

• TWO FAMILY HOME
• SIDE BY SIDE UNITS
• UPDATED KITCHEN
• UPDATED BATHROOM
• IN UNIT LAUNDRY
• WALK IN CLOSET

What this means for you Summary

Snapshot

• This is a 2 × 3-bed/1.5-bath units multifamily listed at $299k.

Deal economics

• At list price, monthly cash flow is $1k ($12k/yr) — positive. Per door: $521/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($4k rent vs $299k).
• Recommended offer: $290k (3.0% below list) — sets the bar for market timing.
• Cap rate 10.5% 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); 138 active listings in the ZIP; 31 comparable units currently listed for rent nearby; rentals at typical pace (median 21d on market — plan ~3-4 weeks tenant-placement turnaround); 1,244 units permitted in Erie County in 2024 (563 in 5+ unit buildings).
• At $3,561/mo this rent would consume 79% of the median local household income ($54k/yr) (locally 1501% 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 $25k of equity ($2k loan paydown + $22k appreciation (7.5% local appreciation)).
• At projected returns (7.5% appreciation + 0.0% rent growth), your $84k cash investment doubles in ~3 years — after that, you're playing with house money.
• By year 2, paydown + projected appreciation supports a ~$39k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 39 days — a 3% lower offer ($290k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts since 12y 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 $1k; list at $299k implies a 25900% 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 $290,030 (3.0% below list)

Questions for the listing agent

1. It's been on market 39 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
3. What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
4. Built in 1890 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
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: 1.19% ✓
• Cap rate: 10.47%
• Cash-on-cash: 14.93%
• DSCR: 1.66
• GRM: 7.0

CMA / ARV

• ARV (on-the-fly): $273,180
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
192 York St	0.00mi	3/2.5	1,884 (0%)	1mo	$285,000	$151	97
193 14th St	0.17mi	3/2.0	2,040 (+8%)	6mo	$156,000	$76	69
145 14th St	0.14mi	3/2.0	1,710 (-9%)	9mo	$281,500	$165	66
132 Ashland Ave	0.26mi	4/2.0 (+1)	2,002 (+6%)	12mo	$293,200	$146	59
23 Sherwood St	0.68mi	3/2.0	1,830 (-3%)	4mo	$150,000	$82	56
147 Mariner St	0.44mi	4/3.0 (+1)	2,098 (+11%)	4mo	$365,000	$174	52
475 W Ferry St	0.63mi	3/2.0	1,740 (-8%)	6mo	$236,900	$136	48
375 Plymouth Ave	0.42mi	4/2.0 (+1)	2,121 (+13%)	4mo	$265,000	$125	47
60 Elmwood Ave	0.60mi	2/3.0 (-1)	2,064 (+10%)	6mo	$299,900	$145	46
116 West Ave	0.69mi	3/2.0	1,692 (-10%)	4mo	$131,000	$77	44
428 Normal Ave	0.61mi	4/2.0 (+1)	1,680 (-11%)	9mo	$180,000	$107	37
221 Lexington Ave	0.55mi	4/2.0 (+1)	1,620 (-14%)	8mo	$425,000	$262	35

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: 29.3%
• Equity multiple: 3.03×
• Total profit: $169,691
• Equity at exit: $217,305

10-year hold

• IRR: 25.4%
• Equity multiple: 6.06×
• Total profit: $423,605
• Equity at exit: $422,276

Cash invested: $83,720 (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: 138
• Price-to-rent: 14.0×

Monthly cashflow live

• Estimated rent: $3,561 high
• Mortgage (P&I): −$1,568
• Tax from tax record: −$79 /mo · $947/yr
• Insurance: −$125
• HOA: −$0
• Vacancy / Maint / Mgmt: −$748
• Net cashflow: $1,042

Break-even live

Break-even rent $2,242

Max offer price $299,000

Occupancy floor 66%

Sensitivity live

Price	-10% $1,211	-5% $1,126	+0% $1,042	+5% $957	+10% $872
Rent	-10% $760	-5% $901	+0% $1,042	+5% $1,182	+10% $1,323
Rate	-1.0pp $1,192	-0.5pp $1,118	base $1,042	+0.5pp $964	+1.0pp $885

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

Units	Beds	Baths	Est. rent
▸ 2× units	3	1.5	$3,560
Total (2 units)			$3,561

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: $74,750
• Closing costs: $8,970
• Reserves months: —
• Total cash needed: —

Rent comps 31 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
184 14th St Buffalo, NY	4.0	2.0	1950	$4,400	$2.26	25d	1	0.18mi
161 16th St Buffalo, NY	3.0	1.5	1500	$2,000	$1.33	25d	1	0.21mi
124 Normal Ave Unit 2 Buffalo, NY	3.0	1.0	1727	$2,000	$1.16	25d	1	0.22mi
118 Ashland Ave Buffalo, NY	3.0	1.0	1326	$1,850	$1.40	15d	1	0.25mi
330 Bryant St Buffalo, NY	3.0	2.0	2224	$2,200	$0.99	21d	1	0.27mi
217 Norwood Ave Apt 1 Buffalo, NY	2.0	1.0	1500	$2,700	$1.80	45d	1	0.37mi
318 14th St Buffalo, NY	2.0	1.0	1619	$1,300	$0.80	12d	1	0.38mi
501 West Ave Buffalo, NY	3.0	1.0	2552	$1,850	$0.72	21d	1	0.39mi
501 West Ave Buffalo, NY	3.0	1.0	2552	$1,700	$0.67	15d	1	0.39mi
451 Elmwood Ave Buffalo, NY	2.0	1.0	1633	$3,305	$2.02	45d	1	0.40mi
74 Days Park Unit 8 Buffalo, NY	2.0	1.0	1350	$1,695	$1.26	45d	1	0.46mi
126 Cottage St Unit 4 Buffalo, NY	2.0	2.5	1500	$2,000	$1.33	15d	1	0.54mi
569 Elmwood Ave Buffalo, NY	2.0	1.0	1500	$1,750	$1.17	13d	1	0.55mi
888 Delaware Ave Buffalo, NY	2.0	1.0–2.0	899	$2,440	$2.71	25d	1	0.57mi
405 W Ferry St Unit Lower Buffalo, NY	3.0	1.0	2480	$1,500	$0.60	45d	1	0.66mi
506 Delaware Ave Buffalo, NY	1.0–2.0	1.0–1.5	1190	$2,995	$2.52	11d	6	0.70mi
19 North St Buffalo, NY	2.0	1.0–2.0	1306	$2,910	$2.23	11d	7	0.71mi
550 Busti Ave Unit 2 Buffalo, NY	3.0	1.0	1638	$1,500	$0.92	45d	1	0.73mi
385 Seventh St Unit Lower Buffalo, NY	2.0	1.0	2136	$1,250	$0.59	45d	1	0.74mi
83 Baynes St Unit Lower Buffalo, NY	3.0	1.0	2550	$1,850	$0.73	15d	1	0.82mi
740 Elmwood Ave Buffalo, NY	3.0	1.0	2000	$1,995	$1.00	15d	1	0.83mi
40 Putnam St Buffalo, NY	4.0	1.0	1600	$2,100	$1.31	25d	1	0.84mi
628 Ellicott St Buffalo, NY	1.0–2.0	1.0–2.0	1059	$2,812	$2.65	3d	5	0.98mi
311 Herkimer St #1 Buffalo, NY	3.0	1.0	1272	$1,400	$1.10	15d	1	1.16mi
100 S Elmwood Ave Buffalo, NY	2.0	2.0	1213	$2,260	$1.86	4d	2	1.22mi
100 S Elmwood Ave Buffalo, NY	2.0	2.0	1254	$2,232	$1.78	25d	1	1.22mi
552 Potomac Ave Buffalo, NY	2.0	1.0	2500	$2,200	$0.88	45d	1	1.29mi
1360 Niagara St Buffalo, NY	1.0–2.0	1.0–2.0	1252	$2,396	$1.91	3d	2	1.33mi
836 Richmond Ave Buffalo, NY	4.0	3.5	1982	$4,500	$2.27	45d	1	1.39mi
340 Bird Ave #202 Buffalo, NY	2.0	2.5	1505	$2,950	$1.96	11d	1	1.40mi
465 Washington St Buffalo, NY	1.0–2.0	1.0–2.0	1388	$2,285	$1.65	3d	5	1.44mi

Listing history 11 events

1. 2026-03-07
   status Pending
2. 2026-02-21
   status Active
3. 2026-02-14
   status Pending
4. 2026-01-20
   listed $299,000 Active
5. 2014-09-15
   soldstatus $1,150 414-char remark

   Show marketing remark (414 chars)

   EXCEPTIONAL 2 BED 2 BATH UNIT WITH ALL THE MUST HAVES. COMPLETELY BRAND NEW RENOVATED 2 STORY UNIT. WIDE OPEN FLOOR PLAN FOR EASY ENTERTAINING AND LIVABILITY. GORGEOUS HARDWOODS THROUGHOUT, 2 NEW FULL BATHS, GOURMET KITCHEN WITH ALL APPLIANCES INCL DISHWASHER, 2ND FLOOR LAUNDRT WITH * * FRONT LOADER * * MACHINES!! TONS OF CLOSET SPACE TOO. OFF-STREET PARKING FOR 2 CARS!! SO STOP SEARCHING, AND CALL US TODAY.

6. 2014-09-08
   soldstatus $187,000 17-char remark

   Show marketing remark (17 chars)

   SOLD BEFORE PRINT

7. 2014-09-03
   listed $1,150 414-char remark

   Show marketing remark (414 chars)

   EXCEPTIONAL 2 BED 2 BATH UNIT WITH ALL THE MUST HAVES. COMPLETELY BRAND NEW RENOVATED 2 STORY UNIT. WIDE OPEN FLOOR PLAN FOR EASY ENTERTAINING AND LIVABILITY. GORGEOUS HARDWOODS THROUGHOUT, 2 NEW FULL BATHS, GOURMET KITCHEN WITH ALL APPLIANCES INCL DISHWASHER, 2ND FLOOR LAUNDRT WITH * * FRONT LOADER * * MACHINES!! TONS OF CLOSET SPACE TOO. OFF-STREET PARKING FOR 2 CARS!! SO STOP SEARCHING, AND CALL US TODAY.

8. 2014-08-29
   soldstatus $187,000
9. 2014-06-29
   listed $189,999 17-char remark

   Show marketing remark (17 chars)

   SOLD BEFORE PRINT

10. 2009-06-05
    soldstatus $125,000
11. 2008-01-10
    soldstatus $27,000

ⓘ 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: $947 · $79/mo
• Projected year-2 tax: $3,000 · $250/mo
• Expected delta: +$2,053/yr (+$171/mo · 216.7%)

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

Climate risk First Street

• 🌊 Flood 3/10 Moderate FEMA zone X (unshaded) · 20% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 3/10 Moderate 7 d/yr ≥91°F today · 15 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: $42,732
• − Mortgage interest: −$16,749
• − Property taxes: −$947
• − Insurance: −$1,495
• − Repairs & maintenance: −$3,419
• − Management: −$3,419
• − Depreciation: −$8,698
• Taxable income: $8,006
• Est. tax owed @ 24.0%: −$1,921
• After-tax cash flow: $10,579/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

+1007.4% since first listed

11 events — show timeline

• 2026-03-07 Pending — WNYREIS
• 2026-02-21 Relisted — WNYREIS
• 2026-02-14 Pending — WNYREIS
• 2026-01-20 Listed $299,000 WNYREIS
• 2014-09-15 Sold (MLS) $1,150 WNYREIS
• 2014-09-08 Sold (MLS) $187,000 WNYREIS
• 2014-09-03 Listed $1,150 WNYREIS
• 2014-08-29 Sold (Public Records) $187,000 Public Records
• 2014-06-29 Listed $189,999 WNYREIS
• 2009-06-05 Sold (Public Records) $125,000 Public Records
• 2008-01-10 Sold (Public Records) $27,000 Public Records

Property tax history

+3.0%/yr

Latest (2025): $947 · +0.0% YoY. Source: county tax records.