370 Breckenridge St · Buffalo, NY 14213

$450,000

8 bd · 4.0 ba · 5,250 sqft · MultiFamily public records · 53 Days on market

Built 1902 3,049 sqft lot $86/sqft · 50% below area Est $892k · 50% 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
• DSCR +10.0/10.0
• Appreciation +8.8/10.0
• 1% rule +8.5/10.0
• 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 (5+ Unit). Listing-text estimate: 4 units. estimate disagrees with records

5+ unit building — per-unit beds/baths from public records are typically unavailable; the breakdown below (if shown) is an estimate from the listing text.

Listing remarks MLS

MUST SEE!!! Come see this MASSIVE 5200+ sq ft, four-family home that is cash flowing & turnkey. This attractive vinyl-clad home, located on a quiet, peaceful road in the City of Buffalo, has FANTASTIC rental potential and is steps from Elmwood Village. Updates include tear-off architectural Roof, gutters, and electrical 2017, newer HWT, and new furnaces. This 4-unit property is conveniently located close to Downtown Buffalo, major roadways, suburban centers, schools, shopping & entertainment and is an incredible investment opportunity or perfect for owner occupied buyers who find value in collecting rent to help with or cover a mortgage!

Key facts

• Vinyl clad exterior
• Full basement
• Washer dryer hookups

Tags

• TURNKEY CONDITION
• VINYL CLAD EXTERIOR
• NEWER ARCHITECTURAL ROOF
• FULL BASEMENT
• WASHER DRYER HOOKUPS
• CORNER LOT

Property features AI

Finance

• Financial info: Four total units in the building; Separate gas meter for each of the 4 units; Five separate electric meters; Operating expenses include water; Units are rented month-to-month; Sample rents listed: $950, $1,050, $760 (varies by unit)

Exterior

• Parking: On-street parking
• Utilities: Public water connected; Sewer connected; Water service included/owner pays water
• Home design: Two-story building; Existing/resale property
• Construction: Vinyl siding; Architectural shingle roof; Stone foundation; Built (existing) — year not specified
• Exterior features: Corner lot; Near public transit; Rectangular residential lot; City street and main thoroughfare frontage; Lot dimensions approximately 35 x 93

Interior

• Kitchen: Each unit includes an oven/range and refrigerator; Eat-in kitchens in all units
• Bedrooms: Four 2-bedroom units (each unit has 2 bedrooms)
• Flooring: Carpet; Laminate; Varies by unit
• Bathrooms: Four full bathrooms (one per unit)
• Heating & cooling: Gas forced-air heating
• Interior features: Natural woodwork; Varied interior finishes
• Laundry & utility: Gas water heater

What this means for you Summary

Snapshot

• This is a 4 × 2-bed/1.0-bath units multifamily listed at $450k.

Deal economics

• At list price, monthly cash flow is $2k ($26k/yr) — positive. Per door: $539/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($6k rent vs $450k).
• Recommended offer: $436k (3.0% below list) — sets the bar for market timing.
• Cap rate 12.0% 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); 138 active listings in the ZIP; 1,244 units permitted in Erie County in 2024 (563 in 5+ unit buildings).
• At $6,072/mo this rent would consume 135% 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 $37k of equity ($3k loan paydown + $34k appreciation (7.5% local appreciation)).
• At projected returns (7.5% appreciation + 0.0% rent growth), your $126k cash investment doubles in ~2 years — after that, you're playing with house money.
• By year 2, paydown + projected appreciation supports a ~$59k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 53 days — a 3% lower offer ($436k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 5y 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 $355k; 27% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Watch-outs: built in 1902 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $436,500 (3.0% below list)

Questions for the listing agent

1. It's been on market 53 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
3. What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
4. Built in 1902 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
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. 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.
8. 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.
9. 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: 1.35% ✓
• Cap rate: 12.04%
• Cash-on-cash: 20.52%
• DSCR: 1.91
• GRM: 6.2

CMA / ARV

• ARV (median comp): $891,534
• List price: $450,000
• Delta: -49.53%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 4 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
578 Richmond Ave	0.30mi	8/5.5	4,956 (-6%)	9mo	$765,000	$154	63
877 Prospect Ave	0.72mi	8/4.0	5,136 (-2%)	7mo	$358,000	$70	57
359 Potomac Ave	0.48mi	8/4.0	5,088 (-3%)	20mo	$120,000	$24	55
171 Lafayette Ave	0.29mi	9/3.0 (+1)	4,630 (-12%)	15mo	$487,695	$105	46

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: 33.7%
• Equity multiple: 3.31×
• Total profit: $290,670
• Equity at exit: $327,048

10-year hold

• IRR: 29.2%
• Equity multiple: 6.62×
• Total profit: $708,293
• Equity at exit: $635,532

Cash invested: $126,000 (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: 138
• Price-to-rent: 24.7×

Monthly cashflow live

• Estimated rent: $6,072 high
• Mortgage (P&I): −$2,360
• Tax from tax record: −$95 /mo · $1,140/yr
• Insurance: −$188
• HOA: −$0
• Vacancy / Maint / Mgmt: −$1,275
• Net cashflow: $2,155

Break-even live

Break-even rent $3,345

Max offer price $450,000

Occupancy floor 60%

Sensitivity live

Price	-10% $2,409	-5% $2,282	+0% $2,155	+5% $2,027	+10% $1,900
Rent	-10% $1,675	-5% $1,915	+0% $2,155	+5% $2,394	+10% $2,634
Rate	-1.0pp $2,381	-0.5pp $2,269	base $2,155	+0.5pp $2,038	+1.0pp $1,919

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

Units	Beds	Baths	Est. rent
▸ 4× units	2	1	$6,072
Total (4 units)			$6,072

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: $112,500
• Closing costs: $13,500
• Reserves months: —
• Total cash needed: —

Listing history 21 events

1. 2026-06-21
   days on market $450,000 Active 53 DOM
2. 2026-06-18
   days on market $450,000 Active 50 DOM
3. 2026-06-17
   days on market $450,000 Active 49 DOM
4. 2026-06-16
   days on market $450,000 Active 48 DOM
5. 2026-06-15
   days on market $450,000 Active 47 DOM
6. 2026-06-13
   days on market $450,000 Active 45 DOM
7. 2026-06-13
   days on market $450,000 Active 44 DOM
8. 2026-06-10
   days on market $450,000 Active 42 DOM
9. 2026-06-09
   days on market $450,000 Active 41 DOM
10. 2026-06-08
    days on market $450,000 Active 40 DOM
11. 2026-06-07
    days on market $450,000 Active 39 DOM
12. 2026-06-03
    days on market $450,000 Active 35 DOM
13. 2026-06-02
    days on market $450,000 Active 34 DOM
14. 2026-06-01
    days on market $450,000 Active 33 DOM
15. 2026-05-31
    days on market $450,000 Active 32 DOM
16. 2026-04-29
    listed $450,000 Active 1164-char remark
17. 2022-03-16
    soldstatus $355,000
18. 2022-03-09
    soldstatus $355,000 Closed Sale or Rented 657-char remark

    Show marketing remark (657 chars)

    MUST SEE!!! Come see this MASSIVE 5200+ sq ft, four-family home that is cash flowing & turnkey. This attractive vinyl-clad home, located on a quiet, peaceful road in the City of Buffalo, has FANTASTIC rental potential and is steps from Elmwood Village. Updates include tear-off architectural Roof, gutters, and electrical 2017, newer HWT, and new furnaces. This 4-unit property is conveniently located close to Downtown Buffalo, major roadways, suburban centers, schools, shopping & entertainment and is an incredible investment opportunity or perfect for owner occupied buyers who find value in collecting rent to help with or cover a mortgage!

19. 2021-12-07
    status Pending Sale 657-char remark

    Show marketing remark (657 chars)

    MUST SEE!!! Come see this MASSIVE 5200+ sq ft, four-family home that is cash flowing & turnkey. This attractive vinyl-clad home, located on a quiet, peaceful road in the City of Buffalo, has FANTASTIC rental potential and is steps from Elmwood Village. Updates include tear-off architectural Roof, gutters, and electrical 2017, newer HWT, and new furnaces. This 4-unit property is conveniently located close to Downtown Buffalo, major roadways, suburban centers, schools, shopping & entertainment and is an incredible investment opportunity or perfect for owner occupied buyers who find value in collecting rent to help with or cover a mortgage!

20. 2021-11-09
    listed $339,900 Active 657-char remark

    Show marketing remark (657 chars)

    MUST SEE!!! Come see this MASSIVE 5200+ sq ft, four-family home that is cash flowing & turnkey. This attractive vinyl-clad home, located on a quiet, peaceful road in the City of Buffalo, has FANTASTIC rental potential and is steps from Elmwood Village. Updates include tear-off architectural Roof, gutters, and electrical 2017, newer HWT, and new furnaces. This 4-unit property is conveniently located close to Downtown Buffalo, major roadways, suburban centers, schools, shopping & entertainment and is an incredible investment opportunity or perfect for owner occupied buyers who find value in collecting rent to help with or cover a mortgage!

21. 2006-11-22
    soldstatus $55,000

ⓘ 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: $1,140 · $95/mo
• Projected year-2 tax: $4,372 · $364/mo
• Expected delta: +$3,233/yr (+$269/mo · 283.7%)

ⓘ 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 ≥91°F today · 15 d/yr by 30 yrs out
• 💨 Wind 1/10 Low
• 🫁 Air quality 4/10 Moderate 4 unhealthy d/yr today · 9 by 30 yrs out

Taxation est. · year 1

• Rental income: $72,864
• − Mortgage interest: −$25,207
• − Property taxes: −$1,140
• − Insurance: −$2,250
• − Repairs & maintenance: −$5,829
• − Management: −$5,829
• − Depreciation: −$13,091
• Taxable income: $19,518
• Est. tax owed @ 24.0%: −$4,684
• After-tax cash flow: $21,170/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

+718.2% since first listed

6 events — show timeline

• 2026-04-29 Listed $450,000 WNYREIS
• 2022-03-16 Sold (Public Records) $355,000 Public Records
• 2022-03-09 Sold (MLS) $355,000 WNYREIS
• 2021-12-07 Pending — WNYREIS
• 2021-11-09 Listed $339,900 WNYREIS
• 2006-11-22 Sold (Public Records) $55,000 Public Records

Property tax history

+17.7%/yr

Latest (2025): $1,140 · -14.9% YoY. Source: county tax records.