23 Albert Ave · Buffalo, NY 14207

$154,900

4 bd · 1.0 ba · 1,276 sqft · SingleFamily public records · 3 Days on market

Built 1900 3,000 sqft lot $121/sqft · at area comps Est $163k · at est.

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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 +24.0/30.0
• ARV discount +9.6/15.0
• DSCR +7.7/10.0
• 1% rule +5.0/10.0
• Rent growth +4.5/5.0
• Livability +3.9/5.0
• Schools +3.3/10.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

High ceilings, gorgeous formal dining room with natural hardwoods. A nice functional modern kitchen. The beautiful curved staircase. Master with huge walk in closet. The finished man cave in the attic. .. are all the reasons why you don't want to miss seeing this house. Brand spankin new hot water tank.

Key facts

• 3,000 sq ft lot
• Garage
• Built 1900

Property features AI

Exterior

• Parking: Attached garage (1 car)
• Utilities: Cable available; Electricity available (circuit breakers); High-speed internet available; Public water connected; Sewer connected
• Home design: 2-story existing home; Residential lot on a city street; Rectangular lot (approx. 30 x 100)
• Construction: Asphalt roof; Block foundation; Construction details: see remarks
• Exterior features: Concrete driveway; Partial fence

Interior

• Kitchen: Gas oven; Gas range
• Bedrooms: Main level primary (number of bedrooms not specified)
• Flooring: Laminate flooring; Varies by room
• Bathrooms: 1 full bathroom; 1 half bathroom; 2 bathrooms on the main level
• Heating & cooling: Gas forced air heating
• Interior features: Kitchen open to family room; Natural woodwork; Main level primary bedroom
• Laundry & utility: Laundry in basement; Gas water heater

What this means for you Summary

Snapshot

• This is a 4-bed/1.0-bath single-family listed at $155k.

Deal economics

• At list price, monthly cash flow is $303 ($4k/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 $154k (0.5% below list).
• Recommended offer: $154k (0.5% 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 (+8.2%/yr); 197 active listings in the ZIP; 8 comparable units currently listed for rent nearby; rentals at typical pace (median 25d 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).
• At $1,542/mo this rent would consume 47% of the median local household income ($40k/yr) (locally 2177% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

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.
• At projected returns (-3.0% appreciation + 8.0% rent growth), your $43k cash investment doubles in ~8 years — after that, you're playing with house money.

Negotiation context

• Only 3 days on market — expect competitive offers; lowballing is unlikely to land.
• 8 sale attempts since 14y 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 $25k; list at $155k implies a 520% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

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

Recommended offer $154,152 (0.5% 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: 1.00% ✗
• Cap rate: 8.64%
• Cash-on-cash: 8.39%
• DSCR: 1.37
• GRM: 8.4

CMA / ARV

• ARV (median comp): $162,591
• List price: $154,900
• Delta: -4.73%
• 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
186 Crowley Ave	0.22mi	4/2.0	1,333 (+4%)	2mo	$215,000	$161	76
62 Chadduck Ave	0.31mi	3/1.0 (-1)	1,240 (-3%)	2mo	$155,000	$125	74
136 Crowley Ave	0.26mi	4/1.0	1,394 (+9%)	2mo	$100,000	$72	71
50 Philadelphia St	0.49mi	3/1.5 (-1)	1,276 (0%)	1mo	$155,000	$121	69
280 Esser Ave	0.51mi	3/1.0 (-1)	1,283 (+0%)	3mo	$175,000	$136	68
38 Wyandotte Ave	0.58mi	4/1.0	1,200 (-6%)	2mo	$150,000	$125	61
195 Hertel Ave	0.59mi	3/1.0 (-1)	1,236 (-3%)	1mo	$110,000	$89	61
107 Ullman St	0.65mi	4/2.0	1,258 (-1%)	3mo	$118,000	$94	61
82 Beatrice Ave	0.43mi	3/1.0 (-1)	1,166 (-9%)	2mo	$165,000	$142	59
136 Newfield St	0.58mi	3/1.5 (-1)	1,198 (-6%)	2mo	$167,000	$139	54
88 Huetter Ave Ave	0.71mi	3/1.5 (-1)	1,317 (+3%)	1mo	$250,000	$190	54
221 Newfield St	0.68mi	4/1.5	1,127 (-12%)	4mo	$75,000	$67	44

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 · 8.0% rent growth · sell at horizon

5-year hold

• IRR: 1.3%
• Equity multiple: 1.05×
• Total profit: $2,287
• Equity at exit: $23,096

10-year hold

• IRR: 15.0%
• Equity multiple: 2.47×
• Total profit: $63,645
• Equity at exit: $13,393

Cash invested: $43,372 (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 14207

• Home prices YoY: -18.9%
• Rents YoY: 8.2%
• Active inventory: 197
• Price-to-rent: 8.4×

Monthly cashflow live

• Estimated rent: $1,542 high
• Mortgage (P&I): −$812
• Tax from tax record: −$38 /mo · $452/yr
• Insurance: −$65
• HOA: −$0
• Vacancy / Maint / Mgmt: −$324
• Net cashflow: $303

Break-even live

Break-even rent $1,158

Max offer price $154,900

Occupancy floor 75%

Sensitivity live

Price	-10% $391	-5% $347	+0% $303	+5% $259	+10% $216
Rent	-10% $181	-5% $242	+0% $303	+5% $364	+10% $425
Rate	-1.0pp $381	-0.5pp $343	base $303	+0.5pp $263	+1.0pp $222

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: $38,725
• Closing costs: $4,647
• Reserves months: —
• Total cash needed: —

Rent comps 8 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
118 Rano St Buffalo, NY	3.0	1.0	1050	$1,200	$1.14	22d	1	0.27mi
158 Chadduck Ave Buffalo, NY	4.0	1.0	1200	$1,250	$1.04	24d	1	0.33mi
15 Ontario St Unit 1 Buffalo, NY	3.0	1.0	1000	$1,500	$1.50	2d	1	0.50mi
480 W Hazeltine Ave Buffalo, NY	3.0	1.0	989	$1,900	$1.92	24d	1	0.83mi
62 Seabrook St Buffalo, NY	4.0	1.0	1300	$2,000	$1.54	2d	1	0.84mi
72 Reservation St Unit 2 Buffalo, NY	3.0	1.0	950	$1,150	$1.21	24d	1	1.03mi
62 Germain St Buffalo, NY	3.0	1.0	1320	$1,250	$0.95	24d	1	1.08mi
139 Fordham Dr Buffalo, NY	3.0	1.0	1453	$1,700	$1.17	24d	1	1.48mi

Listing history 29 events

1. 2026-06-18
   days on market $154,900 Active 3 DOM
2. 2026-06-17
   days on market $154,900 Active 2 DOM
3. 2026-06-15
   days on marketlisting id $154,900 Active 1 DOM
4. 2026-06-15
   days on market $154,900 Active 96 DOM
5. 2026-06-13
   days on market $154,900 Active 94 DOM
6. 2026-06-13
   days on market $154,900 Active 93 DOM
7. 2026-06-10
   days on market $154,900 Active 91 DOM
8. 2026-06-09
   days on market $154,900 Active 90 DOM
9. 2026-06-08
   days on market $154,900 Active 89 DOM
10. 2026-06-07
    pricedays on market $154,900 Active 88 DOM
11. 2026-06-03
    days on market $174,400 Active 84 DOM
12. 2026-06-02
    days on market $174,400 Active 83 DOM
13. 2026-06-01
    days on market $174,400 Active 82 DOM
14. 2026-05-31
    days on market $174,400 Active 81 DOM
15. 2026-04-16
    price $174,400 842-char remark
16. 2026-03-11
    listed $174,900 Active 842-char remark
17. 2025-02-07
    historical $1,400
18. 2025-01-25
    listed $1,400
19. 2024-12-24
    historical $1,400
20. 2024-12-22
    historical $1,400
21. 2024-12-21
    listed $1,400
22. 2024-12-21
    listed $1,400
23. 2024-12-13
    historical $1,400
24. 2024-12-13
    historical $1,400
25. 2024-12-13
    listed $1,400
26. 2024-12-13
    listed $1,400
27. 2012-10-05
    soldstatus $25,000 304-char remark

    Show marketing remark (304 chars)

    High ceilings, gorgeous formal dining room with natural hardwoods. A nice functional modern kitchen. The beautiful curved staircase. Master with huge walk in closet. The finished man cave in the attic. .. are all the reasons why you don't want to miss seeing this house. Brand spankin new hot water tank.

28. 2012-08-04
    listed $35,000 304-char remark

    Show marketing remark (304 chars)

    High ceilings, gorgeous formal dining room with natural hardwoods. A nice functional modern kitchen. The beautiful curved staircase. Master with huge walk in closet. The finished man cave in the attic. .. are all the reasons why you don't want to miss seeing this house. Brand spankin new hot water tank.

29. 2007-09-13
    soldstatus $36,000

ⓘ 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: $452 · $38/mo
• Projected year-2 tax: $1,535 · $128/mo
• Expected delta: +$1,083/yr (+$90/mo · 239.3%)

ⓘ 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 ≥93°F today · 15 d/yr by 30 yrs out
• 💨 Wind 1/10 Low
• 🫁 Air quality 3/10 Moderate 3 unhealthy d/yr today · 4 by 30 yrs out

Taxation est. · year 1

• Rental income: $18,498
• − Mortgage interest: −$8,677
• − Property taxes: −$452
• − Insurance: −$774
• − Repairs & maintenance: −$1,480
• − Management: −$1,480
• − Depreciation: −$4,506
• Taxable income: $1,129
• Est. tax owed @ 24.0%: −$271
• After-tax cash flow: $3,368/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): 26,327
• Household income: $39,753
• Rent vs Own: 65.0% rent · 35.0% own
• Severe rent burden: 2177.0

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 0.74)
• Race & ethnicity: White 40% Hispanic / Latino 23% Black 16% Asian 15% Two or more races 14%
• Hispanic origin (detail): Puerto Rican 18% Dominican 2%
• Common ancestry: Romanian 8% Portuguese 1% Arab 1%
• Foreign-born: 19% · Philippines, Canada, India
• Languages at home: 65% English-only · Spanish 14% Other Asian/Pacific 10% Other Indo-European 5%

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: ▼ -54.42%
• Current HPI: 233.0902
• Rent YoY: ▲ 8.19%
• 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

+330.3% since first listed

18 events — show timeline

• 2026-06-15 Listing Removed — WNYREIS
• 2026-06-15 Listed $154,900 WNYREIS
• 2026-06-06 Price Changed $154,900 WNYREIS
• 2026-04-16 Price Changed $174,400 WNYREIS
• 2026-03-11 Listed $174,900 WNYREIS
• 2025-02-07 Rental Removed $1,400 PROPERTYWARE
• 2025-01-25 Listed for Rent $1,400 PROPERTYWARE
• 2024-12-24 Rental Removed $1,400 PROPERTYWARE
• 2024-12-22 Rental Removed $1,400 SHOWMOJO
• 2024-12-21 Listed for Rent $1,400 SHOWMOJO
• 2024-12-21 Listed for Rent $1,400 PROPERTYWARE
• 2024-12-13 Rental Removed $1,400 PROPERTYWARE
• 2024-12-13 Rental Removed $1,400 SHOWMOJO
• 2024-12-13 Listed for Rent $1,400 PROPERTYWARE
• 2024-12-13 Listed for Rent $1,400 SHOWMOJO
• 2012-10-05 Sold (MLS) $25,000 WNYREIS
• 2012-08-04 Listed $35,000 WNYREIS
• 2007-09-13 Sold (Public Records) $36,000 Public Records

Property tax history

+6.4%/yr

Latest (2025): $452 · +22.3% YoY. Source: county tax records.