479 Abbott Rd · Buffalo, NY 14220

$237,900

6 bd · 2.0 ba · 2,636 sqft · MultiFamily public records · 198 Days on market

Built 1920 4,200 sqft lot $90/sqft · 44% below area Est $427k · 44% under

---

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 +16.7/30.0
• ARV discount +15.0/15.0
• DSCR +5.2/10.0
• Rent growth +4.4/5.0
• Livability +3.9/5.0
• Schools +3.3/10.0
• 1% rule +3.2/10.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

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

2 unit, upper long term tenant, lower is vacant waiting for renovation for owner occupied or investment. Great location and great income producing property. Owner will do no repairs.

Key facts

• 4,200 sq ft lot
• Built 1920
• Listed 197 days

🏷️ Possibly a rental listed for sale. The $237,900 price doesn't fit this home's estimated sale value (~$426,693) and the remarks read like a rental — treat the cards below with caution.

What this means for you Summary

Snapshot

• This is a 6-bed/2.0-bath multifamily listed at $238k.

Deal economics

• At list price, monthly cash flow is $150 ($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 $196k (17.6% below list).
• Recommended offer: $196k (17.6% 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 rising fast (+7.6%/yr); 138 active listings in the ZIP; 1,244 units permitted in Erie County in 2024 (563 in 5+ unit buildings).
• This rent runs 33% of the median local income ($71k/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 $2k of loan paydown is wiped out by about $7k of value loss. Plan a longer hold.

Negotiation context

• It's been on market 198 days — a 12% lower offer ($209k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 16y 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 $40k; list at $238k implies a 495% 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 $196,061 (17.6% below list)

Questions for the listing agent

1. It's been on market 198 days. Have you received any prior offers? Is the seller open to a 18% 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. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
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: 0.82% ✗
• Cap rate: 7.05%
• Cash-on-cash: 2.70%
• DSCR: 1.12
• GRM: 10.1

CMA / ARV

• ARV (median comp): $426,693
• List price: $237,900
• Delta: -44.25%
• 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
276 Choate Ave	0.30mi	6/2.0	2,608 (-1%)	4mo	$195,000	$75	80
97 Red Jacket Pkwy	0.35mi	6/2.0	2,588 (-2%)	1mo	$220,000	$85	80
389 Cumberland Ave	0.13mi	5/2.0 (-1)	2,328 (-12%)	5mo	$280,000	$120	65
85 Geary St	0.52mi	6/2.0	2,780 (+6%)	2mo	$267,500	$96	64
32 Magnolia Ave	0.38mi	6/2.0	2,376 (-10%)	5mo	$225,000	$95	62
75 Harding Rd	0.73mi	6/2.0	2,703 (+2%)	0mo	$305,000	$113	61
155 Altruria St	0.73mi	6/2.0	2,720 (+3%)	2mo	$169,900	$62	59
26 Kamper Ave	0.51mi	6/2.0	2,394 (-9%)	3mo	$179,000	$75	58
54 Remoleno St	0.64mi	5/2.0 (-1)	2,796 (+6%)	2mo	$300,000	$107	53
50 Duerstein St	0.65mi	6/2.0	2,956 (+12%)	3mo	$160,000	$54	47
42 Mineral Spring Rd	0.66mi	6/2.0	2,278 (-14%)	0mo	$300,000	$132	46
110 Trowbridge St	0.70mi	6/2.0	2,264 (-14%)	4mo	$180,000	$80	40

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 · 7.62% rent growth · sell at horizon

5-year hold

• IRR: -7.7%
• Equity multiple: 0.71×
• Total profit: $-19,587
• Equity at exit: $35,472

10-year hold

• IRR: 6.4%
• Equity multiple: 1.57×
• Total profit: $37,809
• Equity at exit: $20,569

Cash invested: $66,612 (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 14220

• Home prices YoY: -26.7%
• Rents YoY: 7.6%
• Active inventory: 138
• Price-to-rent: 10.1×

Monthly cashflow live

• Estimated rent: $1,961 medium
• Mortgage (P&I): −$1,248
• Tax from tax record: −$52 /mo · $628/yr
• Insurance: −$99
• HOA: −$0
• Vacancy / Maint / Mgmt: −$412
• Net cashflow: $150

Break-even live

Break-even rent $1,771

Max offer price $237,900

Occupancy floor 87%

Sensitivity live

Price	-10% $285	-5% $217	+0% $150	+5% $83	+10% $15
Rent	-10% $-5	-5% $72	+0% $150	+5% $227	+10% $305
Rate	-1.0pp $270	-0.5pp $210	base $150	+0.5pp $88	+1.0pp $26

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: $59,475
• Closing costs: $7,137
• Reserves months: —
• Total cash needed: —

Listing history 22 events

1. 2026-06-21
   days on market $237,900 Active 198 DOM
2. 2026-06-18
   days on market $237,900 Active 195 DOM
3. 2026-06-17
   days on market $237,900 Active 194 DOM
4. 2026-06-16
   days on market $237,900 Active 193 DOM
5. 2026-06-15
   days on market $237,900 Active 192 DOM
6. 2026-06-13
   days on market $237,900 Active 190 DOM
7. 2026-06-13
   days on market $237,900 Active 189 DOM
8. 2026-06-10
   remarks 375-char remark
9. 2026-06-10
   days on market $237,900 Active 187 DOM
10. 2026-06-09
    days on market $237,900 Active 186 DOM
11. 2026-06-08
    days on market $237,900 Active 185 DOM
12. 2026-06-07
    days on market $237,900 Active 184 DOM
13. 2026-06-03
    days on market $237,900 Active 180 DOM
14. 2026-06-02
    days on market $237,900 Active 179 DOM
15. 2026-06-01
    days on market $237,900 Active 178 DOM
16. 2026-05-31
    days on market $237,900 Active 177 DOM
17. 2025-12-05
    listed $237,900 Active 182-char remark

    Show marketing remark (182 chars)

    2 unit, upper long term tenant, lower is vacant waiting for renovation for owner occupied or investment. Great location and great income producing property. Owner will do no repairs.

18. 2011-01-28
    soldstatus $40,000 117-char remark

    Show marketing remark (117 chars)

    Great Investor Oppertunity, leases in place. 3/3 double Well Maintained, Professionally Managed, Many Newer Windows

19. 2011-01-28
    soldstatus $40,000

    Show marketing remark (117 chars)

    Great Investor Oppertunity, leases in place. 3/3 double Well Maintained, Professionally Managed, Many Newer Windows

20. 2010-05-27
    listed $56,000 117-char remark

    Show marketing remark (117 chars)

    Great Investor Oppertunity, leases in place. 3/3 double Well Maintained, Professionally Managed, Many Newer Windows

21. 2007-12-27
    soldstatus $61,000
22. 2003-07-03
    soldstatus $47,700

ⓘ 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: $628 · $52/mo
• Projected year-2 tax: $2,324 · $194/mo
• Expected delta: +$1,696/yr (+$141/mo · 270.3%)

ⓘ 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 · 15 d/yr by 30 yrs out
• 💨 Wind 1/10 Low
• 🫁 Air quality 4/10 Moderate 3 unhealthy d/yr today · 8 by 30 yrs out

Taxation est. · year 1

• Rental income: $23,527
• − Mortgage interest: −$13,326
• − Property taxes: −$628
• − Insurance: −$1,190
• − Repairs & maintenance: −$1,882
• − Management: −$1,882
• − Depreciation: −$6,921
• Taxable loss: −$2,301
• Est. tax savings @ 24.0%: +$552
• After-tax cash flow: $2,351/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): 24,428
• Household income: $70,963
• Rent vs Own: 29.3% rent · 70.7% own
• Severe rent burden: 602.0

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 (76%)
• Race & ethnicity: White 76% Hispanic / Latino 13% Two or more races 6% Black 5% Asian 2%
• Hispanic origin (detail): Puerto Rican 10% Cuban 1%
• Common ancestry: Romanian 16% Lithuanian 1% Subsaharan African 1%
• Foreign-born: 4% · Canada, Jamaica, China
• Languages at home: 90% English-only · 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: ▼ -146.29%
• Current HPI: 402.5053
• Rent YoY: ▲ 7.62%
• 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

+398.7% since first listed

6 events — show timeline

• 2025-12-05 Listed $237,900 UNYREIS
• 2011-01-28 Sold (Public Records) $40,000 Public Records
• 2011-01-28 Sold (MLS) $40,000 WNYREIS
• 2010-05-27 Listed $56,000 WNYREIS
• 2007-12-27 Sold (Public Records) $61,000 Public Records
• 2003-07-03 Sold (Public Records) $47,700 Public Records

Property tax history

+6.6%/yr

Latest (2025): $628 · +0.0% YoY. Source: county tax records.