139 Vermont St · Buffalo, NY 14213

$429,900

9 bd · 3.6 ba · 5,703 sqft · MultiFamily · 8 Days on market

Built 1920 2,738 sqft lot Est $399k · 8% 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
• DSCR +10.0/10.0
• 1% rule +9.2/10.0
• Appreciation +8.8/10.0
• ARV discount +4.0/15.0
• Livability +3.9/5.0
• Schools +3.3/10.0
• 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: 3 units. confirmed

Listing remarks MLS

Great investment opportunity on Buffalo's thriving Westside, one Block from D'Youville College! This property consists of 3 residential units, a storefront and a 2 car garage. This property has been fully renovated inside and out and is structurally sound. The three residential apartments are all updated with modern amenities including stainless steel appliances and dishwashers. They are all currently occupied. The rent for each apartment ranges from $995 to $1,087 per month, and the tenants are responsible for paying their own gas and electric. Common area laundry for tenant convenience. The storefront and garage are occupied by a food pantry and has a deeply discounted lease of $100/month. This fully renovated space includes central a/c and can be rented for $1,000/mo making this property a 9.26% cap rate. Significant upgrades include: new tear off roof building/garage, new electric, vinyl windows throughout, new sewer line, boilers 2018/2012, water tanks ('21, '18, '15, '15). Best time to show is during the day weekdays. Also listed as commercial MLS# B1454546. Offers will be reviewed Tuesday 2/14 at 2pm.

Key facts

• Solid basement
• In-unit laundry
• Rented garage

Tags

• HARDWOOD FLOORS
• RENTED GARAGE
• STAINLESS STEEL APPLIANCES
• IN-UNIT LAUNDRY
• FULL ATTIC
• SOLID BASEMENT

Property features AI

Finance

• Other: Lot dimensions approximately 23 x 116 feet
• Financial info: Owner pays water and trash collection; Rent includes water and trash collection; Multi-family property with 3 total units (4 units in the community); separate gas and electric meters for units; Operating expenses include electricity, insurance, maintenance, trash, water/sewer (see remarks)

Exterior

• Parking: Two-car garage; Additional parking with two or more spaces
• Utilities: Electricity connected; Public water connected; Sewer connected
• Home design: Two-story multi-family residence; Residential multi-use zoning; Resale property
• Construction: Asphalt roof; Attic/crawl hatchway(s) insulated
• Exterior features: Near public transit; Rectangular residential lot; City street frontage

Interior

• Kitchen: Dishwasher; Oven/Range; Refrigerator; Microwave; Eat-in kitchens and dining areas (some units have dining area with living room)
• Bedrooms: Unit mix includes 2-bedroom and 3-bedroom apartments
• Flooring: Hardwood; Varies by unit
• Bathrooms: Three full bathrooms and one half bathroom in the building; individual units each have one bathroom
• Heating & cooling: Gas heating; Baseboard heating; Radiant heating
• Interior features: Hardwood and varied flooring; Full basement
• Laundry & utility: Utilities include electricity, water, and sewer connections

What this means for you Summary

Snapshot

• This is a 3 × 3-bed/1.2-bath units multifamily listed at $430k.

Deal economics

• At list price, monthly cash flow is $2k ($22k/yr) — positive. Per door: $620/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($6k rent vs $430k).
• Cap rate 11.5% 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); 137 active listings in the ZIP; 1,244 units permitted in Erie County in 2024 (563 in 5+ unit buildings).
• At $6,115/mo this rent would consume 136% 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 $35k of equity ($3k loan paydown + $32k appreciation (7.5% local appreciation)).
• At projected returns (7.5% appreciation + 0.0% rent growth), your $120k cash investment doubles in ~3 years — after that, you're playing with house money.
• By year 2, paydown + projected appreciation supports a ~$56k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• Only 8 days on market — expect competitive offers; lowballing is unlikely to land.
• 5 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.
• Current owner paid $364k; 18% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Watch-outs: built in 1920 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $429,900

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 1920 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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?
6. 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.
7. 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.
8. 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: 1.42% ✓
• Cap rate: 11.48%
• Cash-on-cash: 18.54%
• DSCR: 1.82
• GRM: 5.9

CMA / ARV

• ARV (on-the-fly): $399,210
• Comps found: 2

Show comp detail 2 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
397 Plymouth Ave	0.20mi	10/4.0 (+1)	6,300 (+10%)	4mo	$380,000	$60	63
877 Prospect Ave	0.41mi	8/4.0 (-1)	5,136 (-10%)	7mo	$358,000	$70	52

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: 32.0%
• Equity multiple: 3.20×
• Total profit: $264,408
• Equity at exit: $312,440

10-year hold

• IRR: 27.6%
• Equity multiple: 6.37×
• Total profit: $646,396
• Equity at exit: $607,145

Cash invested: $120,372 (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: 17.6×

Monthly cashflow live

• Estimated rent: $6,115 high
• Mortgage (P&I): −$2,254
• Tax est. 1.5%: −$537 /mo · $6,448/yr
• Insurance: −$179
• HOA: −$0
• Vacancy / Maint / Mgmt: −$1,284
• Net cashflow: $1,860

Break-even live

Break-even rent $3,761

Max offer price $429,900

Occupancy floor 65%

Sensitivity live

Price	-10% $2,157	-5% $2,008	+0% $1,860	+5% $1,711	+10% $1,563
Rent	-10% $1,377	-5% $1,618	+0% $1,860	+5% $2,101	+10% $2,343
Rate	-1.0pp $2,076	-0.5pp $1,969	base $1,860	+0.5pp $1,749	+1.0pp $1,635

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

Units	Beds	Baths	Est. rent
▸ 3× units	3	1.2	$6,114
Total (3 units)			$6,115

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: $107,475
• Closing costs: $12,897
• Reserves months: —
• Total cash needed: —

Listing history 10 events

1. 2026-04-15
   status Pending
2. 2026-04-07
   listed $429,900 Active
3. 2025-04-17
   historical
4. 2025-04-03
   listed $369,000 Active
5. 2023-05-29
   soldstatus $364,300 Closed Sale or Rented 1126-char remark

   Show marketing remark (1126 chars)

   Great investment opportunity on Buffalo's thriving Westside, one Block from D'Youville College! This property consists of 3 residential units, a storefront and a 2 car garage. This property has been fully renovated inside and out and is structurally sound. The three residential apartments are all updated with modern amenities including stainless steel appliances and dishwashers. They are all currently occupied. The rent for each apartment ranges from $995 to $1,087 per month, and the tenants are responsible for paying their own gas and electric. Common area laundry for tenant convenience. The storefront and garage are occupied by a food pantry and has a deeply discounted lease of $100/month. This fully renovated space includes central a/c and can be rented for $1,000/mo making this property a 9.26% cap rate. Significant upgrades include: new tear off roof building/garage, new electric, vinyl windows throughout, new sewer line, boilers 2018/2012, water tanks ('21, '18, '15, '15). Best time to show is during the day weekdays. Also listed as commercial MLS# B1454546. Offers will be reviewed Tuesday 2/14 at 2pm.

6. 2023-02-16
   status Under Contract- Do Not Show 1126-char remark

   Show marketing remark (1126 chars)

   Great investment opportunity on Buffalo's thriving Westside, one Block from D'Youville College! This property consists of 3 residential units, a storefront and a 2 car garage. This property has been fully renovated inside and out and is structurally sound. The three residential apartments are all updated with modern amenities including stainless steel appliances and dishwashers. They are all currently occupied. The rent for each apartment ranges from $995 to $1,087 per month, and the tenants are responsible for paying their own gas and electric. Common area laundry for tenant convenience. The storefront and garage are occupied by a food pantry and has a deeply discounted lease of $100/month. This fully renovated space includes central a/c and can be rented for $1,000/mo making this property a 9.26% cap rate. Significant upgrades include: new tear off roof building/garage, new electric, vinyl windows throughout, new sewer line, boilers 2018/2012, water tanks ('21, '18, '15, '15). Best time to show is during the day weekdays. Also listed as commercial MLS# B1454546. Offers will be reviewed Tuesday 2/14 at 2pm.

7. 2023-02-08
   listed $350,000 Active 1126-char remark

   Show marketing remark (1126 chars)

   Great investment opportunity on Buffalo's thriving Westside, one Block from D'Youville College! This property consists of 3 residential units, a storefront and a 2 car garage. This property has been fully renovated inside and out and is structurally sound. The three residential apartments are all updated with modern amenities including stainless steel appliances and dishwashers. They are all currently occupied. The rent for each apartment ranges from $995 to $1,087 per month, and the tenants are responsible for paying their own gas and electric. Common area laundry for tenant convenience. The storefront and garage are occupied by a food pantry and has a deeply discounted lease of $100/month. This fully renovated space includes central a/c and can be rented for $1,000/mo making this property a 9.26% cap rate. Significant upgrades include: new tear off roof building/garage, new electric, vinyl windows throughout, new sewer line, boilers 2018/2012, water tanks ('21, '18, '15, '15). Best time to show is during the day weekdays. Also listed as commercial MLS# B1454546. Offers will be reviewed Tuesday 2/14 at 2pm.

8. 2016-03-31
   soldstatus $95,000
9. 2015-10-31
   listed $119,000
10. 2013-01-01
    listed $82,000

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Taxation est. · year 1

• Rental income: $73,380
• − Mortgage interest: −$24,081
• − Property taxes: −$6,448
• − Insurance: −$2,150
• − Repairs & maintenance: −$5,870
• − Management: −$5,870
• − Depreciation: −$12,506
• Taxable income: $16,454
• Est. tax owed @ 24.0%: −$3,949
• After-tax cash flow: $18,370/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

+424.3% since first listed

10 events — show timeline

• 2026-04-15 Pending — WNYREIS
• 2026-04-07 Listed $429,900 WNYREIS
• 2025-04-17 Listing Removed — WNYREIS
• 2025-04-03 Listed $369,000 WNYREIS
• 2023-05-29 Sold (MLS) $364,300 WNYREIS
• 2023-02-16 Pending — WNYREIS
• 2023-02-08 Listed $350,000 WNYREIS
• 2016-03-31 Sold (MLS) $95,000 WNYREIS
• 2015-10-31 Listed $119,000 WNYREIS
• 2013-01-01 Listed $82,000 WNYREIS