1078 Kensington Ave · Buffalo, NY 14215

$164,988

3 bd · 1.0 ba · 1,462 sqft · SingleFamily public records · 81 Days on market

Built 1917 3,680 sqft lot $113/sqft · 7% below area Est $178k · 7% under

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Why this score? — see what drove the D 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 +13.2/30.0
• ARV discount +10.7/15.0
• DSCR +4.0/10.0
• Livability +3.9/5.0
• 1% rule +3.7/10.0
• Schools +3.3/10.0
• Rent growth +2.7/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

This is a package sale that includes 930 Kensington Ave, 934 Kensington Ave, 1066 Kensington Ave, and 1078 Kensington Ave. Properties may also be sold separately. Well-maintained 3-bedroom, 1-bath home located at 1078 Kensington Ave. This property features a brand new roof along with a fully updated kitchen and bathroom, offering a great blend of comfort and modern updates. Spacious layout with plenty of natural light throughout. Ideal for both owner-occupants and investors. Conveniently located close to shopping, schools, and major routes. Part of a package sale but can also be sold separately.

Key facts

• 3,680 sq ft lot
• Built 1917
• Listed 81 days

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $165k.

Deal economics

• At list price, monthly cash flow is $-3 ($-42/yr) — negative.
• To cash-flow at today's rent, offer at most $164k (0.3% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $144k (12.8% below list).
• Recommended offer: $144k (12.8% below list) — sets the bar for 1% rule.
• Cap rate 6.3% vs local median 8.0% in Buffalo — below-typical yield; the buyer is paying a premium for something (appreciation thesis, condition, location) that the cap rate doesn't capture.

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; 24 comparable units currently listed for rent nearby; rentals at typical pace (median 26d on market — plan ~3-4 weeks tenant-placement turnaround); 46% of comp listings sitting > 30 days — soft ceiling on asking rent; lower-income renter base — watch delinquency; 1,244 units permitted in Erie County in 2024 (563 in 5+ unit buildings).
• This rent runs 38% 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 $1k of loan paydown is wiped out by about $5k of value loss. Plan a longer hold.

Negotiation context

• It's been on market 81 days — a 6% lower offer ($155k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 15y 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 $165k implies a 312% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1917 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $143,890 (12.8% below list)

Questions for the listing agent

1. What do current leases actually rent for vs. the listed asking? Can we see a recent rent roll and the last 12 months of T-12 income?
2. It's been on market 81 days. Have you received any prior offers? Is the seller open to a 13% concession, seller financing, or rate buy-down credit?
3. Built in 1917 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
4. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
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. The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?
8. 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.
9. 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.
10. 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: 0.87% ✗
• Cap rate: 6.27%
• Cash-on-cash: -0.09%
• DSCR: 1.00
• GRM: 9.6

CMA / ARV

• ARV (median comp): $177,790
• List price: $164,988
• Delta: -7.20%
• Verdict: FAIR
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
84 Elmer Ave	0.25mi	3/1.0	1,510 (+3%)	1mo	$125,000	$83	82
37 Elmer Ave	0.23mi	4/1.0 (+1)	1,327 (-9%)	0mo	$170,000	$128	69
59 Martha Ave	0.30mi	3/1.0	1,282 (-12%)	1mo	$149,000	$116	65
243 Berkshire Ave	0.23mi	4/2.0 (+1)	1,617 (+11%)	1mo	$220,000	$136	62
496 Berkshire Ave	0.35mi	3/1.0	1,266 (-13%)	1mo	$125,000	$99	61
353 Warwick Ave	0.51mi	3/1.0	1,611 (+10%)	1mo	$161,800	$100	58
153 Stockbridge Ave	0.38mi	3/1.0	1,248 (-15%)	3mo	$150,000	$120	55
347 Lisbon Ave	0.64mi	3/1.5	1,558 (+7%)	3mo	$180,000	$116	54
141 Millicent Ave	0.39mi	4/2.0 (+1)	1,620 (+11%)	2mo	$142,000	$88	53
90 Alma Ave	0.72mi	2/2.0 (-1)	1,360 (-7%)	3mo	$105,000	$77	43
622 Lasalle Ave	0.60mi	4/1.0 (+1)	1,258 (-14%)	3mo	$115,000	$91	42
176 Lasalle Ave	0.74mi	4/2.0 (+1)	1,601 (+10%)	2mo	$270,000	$169	39

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: -19.1%
• Equity multiple: 0.35×
• Total profit: $-30,231
• Equity at exit: $24,600

10-year hold

• IRR: -17.3%
• Equity multiple: 0.15×
• Total profit: $-39,431
• Equity at exit: $14,265

Cash invested: $46,197 (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: 9.6×

Monthly cashflow live

• Estimated rent: $1,439 high
• Mortgage (P&I): −$865
• Tax est. 1.5%: −$206 /mo · $2,475/yr
• Insurance: −$69
• HOA: −$0
• Vacancy / Maint / Mgmt: −$302
• Net cashflow: $-3

Break-even live

Break-even rent $1,443

Max offer price $164,487

Occupancy floor 95%

Sensitivity live

Price	-10% $111	-5% $54	+0% $-3	+5% $-60	+10% $-117
Rent	-10% $-117	-5% $-60	+0% $-3	+5% $53	+10% $110
Rate	-1.0pp $80	-0.5pp $38	base $-3	+0.5pp $-46	+1.0pp $-90

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: $41,247
• Closing costs: $4,950
• Reserves months: —
• Total cash needed: —

Rent comps 24 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
97 Davidson Ave Buffalo, NY	3.0	1.0	925	$1,495	$1.62	3d	1	0.27mi
140 Parkridge Ave Buffalo, NY	3.0	1.0	990	$1,500	$1.52	45d	1	0.35mi
220 Dartmouth Ave Buffalo, NY	2.0	1.0	1000	$1,100	$1.10	25d	1	0.40mi
189 Westminster Ave Buffalo, NY	4.0	1.5	1065	$1,595	$1.50	12d	1	0.46mi
263 Minnesota Ave Unit Upper Buffalo, NY	3.0	1.0	1242	$1,500	$1.21	16d	1	0.62mi
265 Lisbon Ave Unit 2 Buffalo, NY	3.0	1.0	1200	$1,400	$1.17	45d	1	0.66mi
222 Lisbon Ave Buffalo, NY	4.0	1.0	1300	$1,400	$1.08	25d	1	0.73mi
222 Lisbon Ave Unit Upper Buffalo, NY	3.0	1.0	1400	$1,400	$1.00	45d	1	0.73mi
17 Proctor Ave Unit 1 Buffalo, NY	2.0	1.0	900	$1,100	$1.22	45d	1	0.80mi
74 Dorris Ave Buffalo, NY	3.0	1.0	1200	$1,450	$1.21	45d	1	0.80mi
89 Lasalle Ave Buffalo, NY	1.0–4.0	1.0–4.0	1024	$2,291	$2.24	3d	10	0.83mi
92 Lasalle Ave Unit 1 Buffalo, NY	2.0	1.0	1000	$1,150	$1.15	45d	1	0.84mi
90 Sussex St Unit 2 Buffalo, NY	2.0	1.0	1000	$1,000	$1.00	45d	1	0.91mi
71 Gerald Ave Buffalo, NY	2.0	1.0	1773	$1,100	$0.62	45d	1	0.93mi
40 Lisbon Ave Unit Upper Buffalo, NY	2.0	1.0	1057	$1,500	$1.42	13d	1	0.95mi
26 Custer St Buffalo, NY	2.0	1.0	1000	$1,300	$1.30	45d	1	1.07mi
249 Newburgh Ave Unit 2 Buffalo, NY	2.0	1.0	930	$1,300	$1.40	45d	1	1.18mi
60 Englewood Ave Buffalo, NY	4.0	1.0	1400	$1,650	$1.18	3d	1	1.23mi
61 Courtland Ave Unit Lower Buffalo, NY	2.0	1.0	1000	$1,300	$1.30	45d	1	1.23mi
216 Newburgh Ave Buffalo, NY	2.0	1.0	1690	$1,150	$0.68	25d	1	1.24mi
103 Preston Rd Unit Lower Cheektowaga, NY	2.0	1.0	882	$1,300	$1.47	5d	1	1.30mi
76 Vernon Pl Unit Upper Buffalo, NY	3.0	1.0	1190	$1,595	$1.34	16d	1	1.37mi
76 Vernon Pl Unit Lower Buffalo, NY	3.0	1.0	1190	$1,445	$1.21	16d	1	1.37mi
163 Carmel Rd Buffalo, NY	3.0	1.0	1400	$1,800	$1.29	4d	1	1.50mi

Listing history 22 events

1. 2026-06-21
   days on market $164,988 Active 81 DOM
2. 2026-06-18
   days on market $164,988 Active 78 DOM
3. 2026-06-17
   days on market $164,988 Active 77 DOM
4. 2026-06-16
   days on market $164,988 Active 76 DOM
5. 2026-06-15
   days on market $164,988 Active 75 DOM
6. 2026-06-13
   days on market $164,988 Active 73 DOM
7. 2026-06-13
   days on market $164,988 Active 72 DOM
8. 2026-06-10
   days on market $164,988 Active 70 DOM
9. 2026-06-09
   days on market $164,988 Active 69 DOM
10. 2026-06-08
    days on market $164,988 Active 68 DOM
11. 2026-06-07
    days on market $164,988 Active 67 DOM
12. 2026-06-03
    days on market $164,988 Active 63 DOM
13. 2026-06-02
    days on market $164,988 Active 62 DOM
14. 2026-06-01
    days on market $164,988 Active 61 DOM
15. 2026-05-31
    days on market $164,988 Active 60 DOM
16. 2026-05-05
    price $164,988 602-char remark

    Show marketing remark (602 chars)

    This is a package sale that includes 930 Kensington Ave, 934 Kensington Ave, 1066 Kensington Ave, and 1078 Kensington Ave. Properties may also be sold separately. Well-maintained 3-bedroom, 1-bath home located at 1078 Kensington Ave. This property features a brand new roof along with a fully updated kitchen and bathroom, offering a great blend of comfort and modern updates. Spacious layout with plenty of natural light throughout. Ideal for both owner-occupants and investors. Conveniently located close to shopping, schools, and major routes. Part of a package sale but can also be sold separately.

17. 2026-04-01
    listed $169,988 Active 602-char remark

    Show marketing remark (602 chars)

    This is a package sale that includes 930 Kensington Ave, 934 Kensington Ave, 1066 Kensington Ave, and 1078 Kensington Ave. Properties may also be sold separately. Well-maintained 3-bedroom, 1-bath home located at 1078 Kensington Ave. This property features a brand new roof along with a fully updated kitchen and bathroom, offering a great blend of comfort and modern updates. Spacious layout with plenty of natural light throughout. Ideal for both owner-occupants and investors. Conveniently located close to shopping, schools, and major routes. Part of a package sale but can also be sold separately.

18. 2017-10-27
    soldstatus $40,000 Closed Sale or Rented 396-char remark

    Show marketing remark (396 chars)

    Come and view this 3 bedroom 1 bath home in the highly requested Kensington/Bailey area. Home features a fully fenced private yard that can easily accessed from the living room. Kitchen boasts plenty of cabinet space and the bedrooms are spacious with large closets. Modern electricity, a newer furnace and water heater round out this excellent property! Don't miss this deal! come view it today!

19. 2017-08-28
    status Under Contract- Do Not Show 396-char remark

    Show marketing remark (396 chars)

    Come and view this 3 bedroom 1 bath home in the highly requested Kensington/Bailey area. Home features a fully fenced private yard that can easily accessed from the living room. Kitchen boasts plenty of cabinet space and the bedrooms are spacious with large closets. Modern electricity, a newer furnace and water heater round out this excellent property! Don't miss this deal! come view it today!

20. 2017-08-03
    listed $54,900 Active 396-char remark

    Show marketing remark (396 chars)

    Come and view this 3 bedroom 1 bath home in the highly requested Kensington/Bailey area. Home features a fully fenced private yard that can easily accessed from the living room. Kitchen boasts plenty of cabinet space and the bedrooms are spacious with large closets. Modern electricity, a newer furnace and water heater round out this excellent property! Don't miss this deal! come view it today!

21. 2012-05-14
    soldstatus $12,120
22. 2011-08-31
    listed $10,300

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

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 ≥93°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: $17,267
• − Mortgage interest: −$9,242
• − Property taxes: −$2,475
• − Insurance: −$825
• − Repairs & maintenance: −$1,381
• − Management: −$1,381
• − Depreciation: −$4,800
• Taxable loss: −$2,837
• Est. tax savings @ 24.0%: +$681
• After-tax cash flow: $639/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

+1501.8% since first listed

7 events — show timeline

• 2026-05-05 Price Changed $164,988 WNYREIS
• 2026-04-01 Listed $169,988 WNYREIS
• 2017-10-27 Sold (MLS) $40,000 WNYREIS
• 2017-08-28 Pending — WNYREIS
• 2017-08-03 Listed $54,900 WNYREIS
• 2012-05-14 Sold (MLS) $12,120 WNYREIS
• 2011-08-31 Listed $10,300 WNYREIS

Property tax history

+10.7%/yr

Latest (2025): $247 · +0.0% YoY. Source: county tax records.