270 Comstock Ave · Buffalo, NY 14215

$124,900

3 bd · 2.0 ba · 1,765 sqft · Townhouse public records · 4 Days on market

Built 1926 3,898 sqft lot Est $194k · 36% under

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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
• ARV discount +15.0/15.0
• DSCR +10.0/10.0
• 1% rule +7.6/10.0
• 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

Opportunity awaits at 270 Comstock Ave! Located just minutes from the University at Buffalo South Campus, this two-unit property offers tremendous potential for investors, contractors, flippers, or owner-occupants looking to build equity. Conveniently situated near shopping, restaurants, public transportation, and local entertainment, the location provides strong appeal for future tenants and homeowners alike. The lower unit features 2 bedrooms, 1 full bathroom, a spacious living room, and a formal dining room. The upper unit offers 1 bedroom and 1 full bathroom. Both units are currently vacant, providing flexibility for renovations, rental opportunities, or owner occupancy. This property r

Key facts

• Multi family home
• Two unit property
• Vacant units

Tags

• TWO UNIT PROPERTY
• VACANT UNITS
• SIGNIFICANT REPAIRS
• MULTI FAMILY HOME
• VALUABLE INVESTMENT

Property features AI

Finance

• Financial info: Tenant pays all utilities; Property contains 2 total units; Separate single gas meter and single electric meter for the property

Exterior

• Parking: Attached or detached 2-car garage; Paved parking
• Utilities: Electricity connected; Public water connected; Sewer connected
• Home design: Single-story home; Aluminum siding; Asphalt roof; Existing construction
• Construction: Block foundation; Built previously (existing)
• Exterior features: Patio; Near public transit; Rectangular residential lot (approximately 37 x 103); City street frontage

Interior

• Flooring: Hardwood; Tile; Varies
• Bathrooms: 2 full bathrooms
• Heating & cooling: Gas forced-air heating
• Interior features: Full basement; Fireplace (1)
• Laundry & utility: Gas water heater

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath townhouse listed at $125k.

Deal economics

• At list price, monthly cash flow is $510 ($6k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $125k).
• Cap rate 11.2% 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.
• Zoned schools: International School (math 8% / reading 17%, grade F, #2,048 of 2,108 statewide, top 97%, 981 students, 92% FRL); Hutchinson Central Technical High School (math 96% / reading 32%, grade B-, #807 of 1,100 statewide, top 73%, 1,175 students, 78% FRL).
• Market conditions: Rents flat; 239 active listings in the ZIP; 15 comparable units currently listed for rent nearby; rentals at typical pace (median 16d on market — plan ~3-4 weeks tenant-placement turnaround); lower-income renter base — watch delinquency; 1,244 units permitted in Erie County in 2024 (563 in 5+ unit buildings).
• This rent runs 42% 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 $864 of loan paydown is wiped out by about $4k of value loss. Plan a longer hold.
• At projected returns (-3.0% appreciation + 0.7% rent growth), your $35k cash investment doubles in ~9 years — after that, you're playing with house money.

Negotiation context

• Only 4 days on market — expect competitive offers; lowballing is unlikely to land.

Risks & watch-outs

• Watch-outs: built in 1926 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $124,900

Questions for the listing agent

1. Built in 1926 — 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: 1.26% ✓
• Cap rate: 11.20%
• Cash-on-cash: 17.51%
• DSCR: 1.78
• GRM: 6.6

CMA / ARV

• ARV (on-the-fly): $194,150
• Comps found: 5

Show comp detail 5 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
131 Hewitt Ave	0.14mi	4/2.0 (+1)	1,706 (-3%)	23mo	$180,000	$106	63
151 Parkridge Ave	0.38mi	4/2.0 (+1)	1,771 (+0%)	23mo	$195,000	$110	57
481 Winspear Ave	0.57mi	4/2.0 (+1)	1,844 (+4%)	17mo	$210,000	$114	46
717 Lasalle Ave	0.64mi	4/2.0 (+1)	1,617 (-8%)	10mo	$230,000	$142	43
570 Eggert Rd	0.72mi	3/2.0	1,578 (-11%)	20mo	$151,000	$96	32

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: 6.5%
• Equity multiple: 1.25×
• Total profit: $8,593
• Equity at exit: $18,623

10-year hold

• IRR: 13.8%
• Equity multiple: 2.00×
• Total profit: $34,962
• Equity at exit: $10,799

Cash invested: $34,972 (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: 239
• Price-to-rent: 6.6×

Monthly cashflow live

• Estimated rent: $1,577 high
• Mortgage (P&I): −$655
• Tax from tax record: −$28 /mo · $339/yr
• Insurance: −$52
• HOA: −$0
• Vacancy / Maint / Mgmt: −$331
• Net cashflow: $510

Break-even live

Break-even rent $931

Max offer price $124,900

Occupancy floor 63%

Sensitivity live

Price	-10% $581	-5% $546	+0% $510	+5% $475	+10% $440
Rent	-10% $386	-5% $448	+0% $510	+5% $573	+10% $635
Rate	-1.0pp $573	-0.5pp $542	base $510	+0.5pp $478	+1.0pp $445

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: $31,225
• Closing costs: $3,747
• Reserves months: —
• Total cash needed: —

Rent comps 15 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
263 Minnesota Ave Unit Upper Buffalo, NY	3.0	1.0	1242	$1,500	$1.21	16d	1	0.18mi
222 Lisbon Ave Unit Upper Buffalo, NY	3.0	1.0	1400	$1,400	$1.00	45d	1	0.29mi
222 Lisbon Ave Buffalo, NY	4.0	1.0	1300	$1,400	$1.08	25d	1	0.29mi
59 Lisbon Ave Buffalo, NY	3.0	1.0	2521	$1,250	$0.50	25d	1	0.51mi
89 Lasalle Ave Buffalo, NY	1.0–4.0	1.0–4.0	1024	$2,291	$2.24	3d	10	0.51mi
25 Parkridge Ave Buffalo, NY	3.0	1.0	1914	$1,350	$0.71	16d	1	0.61mi
60 Englewood Ave Buffalo, NY	4.0	1.0	1400	$1,650	$1.18	3d	1	0.79mi
91 Englewood Ave Buffalo, NY	4.0	1.0	2500	$2,000	$0.80	3d	1	0.86mi
102 Englewood Ave Buffalo, NY	4.0	1.0	2426	$2,750	$1.13	3d	1	0.86mi
63 Montrose Ave Buffalo, NY	4.0	1.0	2240	$2,000	$0.89	3d	1	0.94mi
163 Carmel Rd Buffalo, NY	3.0	1.0	1400	$1,800	$1.29	4d	1	1.14mi
91 Springville Ave Buffalo, NY	4.0	2.0	1660	$2,350	$1.42	25d	1	1.20mi
153 Springville Ave Unit Lower Buffalo, NY	2.0	1.0	2216	$1,475	$0.67	45d	1	1.32mi
110 Gerald Ave Buffalo, NY	2.0	1.0	2098	$1,100	$0.52	25d	1	1.36mi
71 Gerald Ave Buffalo, NY	2.0	1.0	1773	$1,100	$0.62	45d	1	1.37mi

Listing history 5 events

1. 2026-06-17
   status $124,900 Pending 4 DOM
2. 2026-06-17
   days on market $124,900 Active 4 DOM
3. 2026-06-16
   days on market $124,900 Active 3 DOM
4. 2026-06-15
   remarks 699-char remark
5. 2026-06-15
   listed $124,900 Active 2 DOM

ⓘ 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: $339 · $28/mo
• Projected year-2 tax: $1,225 · $102/mo
• Expected delta: +$886/yr (+$74/mo · 261.5%)

ⓘ 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: $18,920
• − Mortgage interest: −$6,996
• − Property taxes: −$339
• − Insurance: −$624
• − Repairs & maintenance: −$1,514
• − Management: −$1,514
• − Depreciation: −$3,633
• Taxable income: $4,299
• Est. tax owed @ 24.0%: −$1,032
• After-tax cash flow: $5,091/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

1 event — show timeline

• 2026-06-13 Listed $124,900 WNYREIS

Property tax history

+6.3%/yr

Latest (2025): $339 · +67.9% YoY. Source: county tax records.