111 Bushnell St · Buffalo, NY 14206

$79,900

6 bd · 1.0 ba · 1,725 sqft · SingleFamily public records · 22 Days on market

Built 1900 3,720 sqft lot $46/sqft · 33% below area Est $120k · 33% 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
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• Appreciation +9.0/10.0
• Livability +3.9/5.0
• Schools +3.3/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0

Listing remarks MLS

This 2 bed home has much potential for an investor or owner to occupy, 2nd floor ready to be finished . Offers will be reviewed Sunday October 19th at 12pm

Key facts

• Walk up attic
• Large storage room
• Walk in pantry

Tags

• WALK UP ATTIC
• WALK IN PANTRY
• 1ST FLOOR LAUNDRY ROOM
• LARGE STORAGE ROOM
• LARGE REAR SHED
• FENCED REAR YARD

Property features AI

Exterior

• Parking: No garage
• Utilities: Electricity connected (circuit breakers); Public water connected; Sewer connected
• Home design: Single-story property; Resale property; Asphalt roof
• Construction: Composite siding; Copper plumbing; Foundation: Pillar/Post/Pier and slab; Year built: existing
• Exterior features: Concrete driveway; Near public transit; Rectangular residential lot with 30 x 124 dimensions; City street frontage

Interior

• Kitchen: Free-standing range; Oven
• Bedrooms: 2 bedrooms on the main level; Bedroom on main level
• Flooring: Hardwood; Laminate; Varies
• Bathrooms: 1 full bathroom on the main level
• Heating & cooling: Gas heating; Space heater
• Interior features: Separate formal dining room; Entrance foyer; Eat-in kitchen; Separate formal living room; Storage; Walk-in pantry
• Laundry & utility: Main-level laundry / accessible utilities

What this means for you Summary

Snapshot

• This is a 6-bed/1.0-bath single-family listed at $80k.

Deal economics

• At list price, monthly cash flow is $890 ($11k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $80k).
• Recommended offer: $79k (1.5% below list) — sets the bar for market timing.
• Cap rate 19.7% 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: 169 active listings in the ZIP; 1,244 units permitted in Erie County in 2024 (563 in 5+ unit buildings).
• This rent runs 41% of the median local income ($50k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Forward outlook

• In year one you build about $7k of equity ($552 loan paydown + $6k appreciation (8.1% local appreciation)).
• At projected returns (8.1% appreciation + 3.0% rent growth), your $22k cash investment doubles in ~2 years — after that, you're playing with house money.
• By year 5, paydown + projected appreciation supports a ~$32k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 22 days — a 2% lower offer ($79k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts; this cycle's ask has dropped $10k (11%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $64k; 25% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Watch-outs: built in 1900 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $78,701 (1.5% below list)

Questions for the listing agent

1. Built in 1900 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. 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?
4. 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.
5. 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.
6. 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: 2.18% ✓
• Cap rate: 19.66%
• Cash-on-cash: 47.73%
• DSCR: 3.12
• GRM: 3.8

CMA / ARV

• ARV (median comp): $120,039
• List price: $79,900
• Delta: -33.44%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 1 sale within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
223 Maurice St	0.54mi	5/2.0 (-1)	1,549 (-10%)	14mo	$217,247	$140	37

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

Projected returns pro-forma

8.06% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 59.3%
• Equity multiple: 5.02×
• Total profit: $89,873
• Equity at exit: $61,020

10-year hold

• IRR: 54.4%
• Equity multiple: 10.77×
• Total profit: $218,627
• Equity at exit: $121,428

Cash invested: $22,372 (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 14206

• Home prices YoY: 1.8%
• Active inventory: 169
• Price-to-rent: 3.8×

Monthly cashflow live

• Estimated rent: $1,738 medium
• Mortgage (P&I): −$419
• Tax from tax record: −$31 /mo · $373/yr
• Insurance: −$33
• HOA: −$0
• Vacancy / Maint / Mgmt: −$365
• Net cashflow: $890

Break-even live

Break-even rent $612

Max offer price $79,900

Occupancy floor 44%

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: $19,975
• Closing costs: $2,397
• Reserves months: —
• Total cash needed: —

Listing history 7 events

1. 2026-05-12
   status Pending 651-char remark
2. 2026-05-04
   price $79,900 651-char remark
3. 2026-04-27
   listed $89,900 Active 651-char remark
4. 2025-12-18
   soldstatus $64,000
5. 2025-12-17
   soldstatus $64,000 Closed 155-char remark

   Show marketing remark (155 chars)

   This 2 bed home has much potential for an investor or owner to occupy, 2nd floor ready to be finished . Offers will be reviewed Sunday October 19th at 12pm

6. 2025-10-21
   status Pending 155-char remark

   Show marketing remark (155 chars)

   This 2 bed home has much potential for an investor or owner to occupy, 2nd floor ready to be finished . Offers will be reviewed Sunday October 19th at 12pm

7. 2025-10-13
   listed $68,000 Active 155-char remark

   Show marketing remark (155 chars)

   This 2 bed home has much potential for an investor or owner to occupy, 2nd floor ready to be finished . Offers will be reviewed Sunday October 19th at 12pm

ⓘ 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: $373 · $31/mo
• Projected year-2 tax: $862 · $72/mo
• Expected delta: +$489/yr (+$41/mo · 130.9%)

ⓘ 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 3/10 Moderate 2 unhealthy d/yr today · 3 by 30 yrs out

Taxation est. · year 1

• Rental income: $20,860
• − Mortgage interest: −$4,476
• − Property taxes: −$373
• − Insurance: −$400
• − Repairs & maintenance: −$1,669
• − Management: −$1,669
• − Depreciation: −$2,324
• Taxable income: $9,949
• Est. tax owed @ 24.0%: −$2,388
• After-tax cash flow: $8,291/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): 21,631
• Household income: $50,450
• Rent vs Own: 39.3% rent · 60.7% own
• Severe rent burden: 841.0

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: Majority White (65%)
• Race & ethnicity: White 65% Hispanic / Latino 13% Black 12% Two or more races 8% Asian 4%
• Hispanic origin (detail): Mexican 2% Puerto Rican 10%
• Common ancestry: Romanian 25% Lithuanian 1% Italian 1%
• Foreign-born: 6% · Canada, China
• Languages at home: 88% English-only · Spanish 5% Other Indo-European 3% Arabic 2%

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: ▲ 8.06%
• Current HPI: 457.3935
• Rent YoY: —
• 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

+17.5% since first listed

9 events — show timeline

• 2026-05-27 Pending — WNYREIS
• 2026-05-20 Relisted — WNYREIS
• 2026-05-12 Pending — WNYREIS
• 2026-05-04 Price Changed $79,900 WNYREIS
• 2026-04-27 Listed $89,900 WNYREIS
• 2025-12-18 Sold (Public Records) $64,000 Public Records
• 2025-12-17 Sold (MLS) $64,000 WNYREIS
• 2025-10-21 Pending — WNYREIS
• 2025-10-13 Listed $68,000 WNYREIS

Property tax history

+9.8%/yr

Latest (2025): $373 · +114.8% YoY. Source: county tax records.