134 Crowley Ave · Buffalo, NY 14207

$169,900

4 bd · 2.0 ba · 2,428 sqft · MultiFamily public records · 15 Days on market

Built 1928 Est $226k · 25% 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 +9.1/10.0
• 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

Multi-family units

County records classify this as Multi-Family (2-4 Unit). Listing-text estimate: 1 unit. estimate disagrees with records

Listing remarks

Welcome to 134 Crowley, a conveintiently located two-unit with easy acess to I-190 and bus lines where each apartment has 2 bedrooms, each with its own closet, a hall linen closet, a large coat closet, hardwood floors and beautiful woodwork, a sizable centrally located dining room, an eat-in kitchen with glass front cupboards and appliances, and a nice-sized living room located in the front of the house with decorative fireplaces. The basement has separate laundry hookups and storage areas. A rare find in the city is a large two-car garage for your outdoor storage needs. This property is located within walking distance to the Riverside Park/ Cowley Ave playground, where you can also watch t

Key facts

• Two unit
• Large two car garage
• Hardwood floors

Tags

• TWO UNIT
• HARDWOOD FLOORS
• DECORATIVE FIREPLACES
• SEPARATE LAUNDRY HOOKUPS
• LARGE TWO CAR GARAGE

Property features AI

Finance

• Financial info: Two total units; Separate gas and electric meters for each unit; Operating expense details: see remarks

Exterior

• Parking: 2-car garage; Concrete driveway; On-street parking
• Utilities: Public water connected; Sewer connected
• Home design: Two-story multi-family building; Resale property
• Construction: Vinyl siding; Existing construction
• Exterior features: Near public transit; Rectangular residential lot with city street frontage; Lot dimensions approximately 30 x 105

Interior

• Kitchen: Each unit includes an eat-in kitchen and a formal dining room
• Bedrooms: Two 2-bedroom units (each unit includes bedrooms)
• Flooring: Hardwood; Varies by area
• Bathrooms: Two full bathrooms (one full bath per unit)
• Heating & cooling: Gas heating; Forced air; Radiant heat
• Interior features: Full basement; Hardwood and varied flooring throughout; Gas water heater
• Laundry & utility: Tenant pays all utilities

What this means for you Summary

Snapshot

• This is a 4-bed/2.0-bath multifamily listed at $170k.

Deal economics

• At list price, monthly cash flow is $888 ($11k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $170k).
• Recommended offer: $167k (1.5% below list) — sets the bar for market timing.
• Cap rate 12.6% 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 rising fast (+8.2%/yr); 197 active listings in the ZIP; 3 comparable units currently listed for rent nearby; rentals at typical pace (median 15d 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 $2,403/mo this rent would consume 73% 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 $48k cash investment doubles in ~5 years — after that, you're playing with house money.

Negotiation context

• It's been on market 15 days — a 2% lower offer ($167k) is reasonable based on typical stale-listing flexibility.
• Current owner paid $90k; list at $170k implies a 89% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1928 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $167,351 (1.5% below list)

Questions for the listing agent

1. Built in 1928 — 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 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: 1.41% ✓
• Cap rate: 12.57%
• Cash-on-cash: 22.40%
• DSCR: 2.00
• GRM: 5.9

CMA / ARV

• ARV (on-the-fly): $225,804
• Comps found: 11

Show comp detail 11 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
24 Argus St	0.36mi	4/2.0	2,256 (-7%)	7mo	$210,000	$93	65
69 Hunt Ave	0.40mi	5/2.0 (+1)	2,484 (+2%)	15mo	$234,999	$95	60
214 Esser Ave	0.27mi	4/2.0	2,240 (-8%)	17mo	$140,000	$63	60
37 Philadelphia St	0.40mi	4/2.0	2,118 (-13%)	1mo	$260,000	$123	59
128 Crowley Ave	0.01mi	4/2.0	2,080 (-14%)	20mo	$198,000	$95	59
24 Briggs Ave	0.31mi	4/2.0	2,192 (-10%)	13mo	$211,000	$96	58
527 Ontario St	0.50mi	4/2.0	2,298 (-5%)	21mo	$165,000	$72	51
102 Ullman St	0.41mi	5/2.0 (+1)	2,098 (-14%)	3mo	$165,000	$79	50
37 Peoria St	0.69mi	4/2.0	2,148 (-12%)	6mo	$138,000	$64	44
55 Albert Ave	0.32mi	4/2.0	2,092 (-14%)	23mo	$220,000	$105	43
85 Gallatin Ave	0.40mi	5/2.0 (+1)	2,092 (-14%)	16mo	$195,000	$93	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 · 8.0% rent growth · sell at horizon

5-year hold

• IRR: 20.3%
• Equity multiple: 1.88×
• Total profit: $41,672
• Equity at exit: $25,333

10-year hold

• IRR: 31.5%
• Equity multiple: 4.50×
• Total profit: $166,665
• Equity at exit: $14,690

Cash invested: $47,572 (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: 11.8×

Monthly cashflow live

• Estimated rent: $2,403 high
• Mortgage (P&I): −$891
• Tax from tax record: −$48 /mo · $581/yr
• Insurance: −$71
• HOA: −$0
• Vacancy / Maint / Mgmt: −$505
• Net cashflow: $888

Break-even live

Break-even rent $1,279

Max offer price $169,900

Occupancy floor 58%

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

Units	Beds	Baths	Est. rent
▸ 2× units	2	1	$2,404
Total (2 units)			$2,403

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: $42,475
• Closing costs: $5,097
• Reserves months: —
• Total cash needed: —

Rent comps 3 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
61 Baxter St Buffalo, NY	3.0	1.0	2014	$1,400	$0.70	1d	1	0.31mi
138 Austin St Buffalo, NY	3.0	1.0	3008	$1,500	$0.50	19d	1	1.04mi
78 Germain St Buffalo, NY	3.0	1.0	2030	$1,300	$0.64	14d	1	1.29mi

Listing history 12 events

1. 2026-06-18
   days on market $169,900 Active 15 DOM
2. 2026-06-17
   days on market $169,900 Active 14 DOM
3. 2026-06-16
   days on market $169,900 Active 13 DOM
4. 2026-06-15
   days on market $169,900 Active 12 DOM
5. 2026-06-13
   days on market $169,900 Active 10 DOM
6. 2026-06-13
   days on market $169,900 Active 9 DOM
7. 2026-06-10
   days on market $169,900 Active 7 DOM
8. 2026-06-09
   days on market $169,900 Active 6 DOM
9. 2026-06-08
   days on market $169,900 Active 5 DOM
10. 2026-06-07
    days on market $169,900 Active 4 DOM
11. 2026-06-03
    remarks 699-char remark
12. 2026-06-03
    listed $169,900 Active 1 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: $581 · $48/mo
• Projected year-2 tax: $1,726 · $144/mo
• Expected delta: +$1,145/yr (+$95/mo · 197.0%)

ⓘ 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: $28,836
• − Mortgage interest: −$9,517
• − Property taxes: −$581
• − Insurance: −$850
• − Repairs & maintenance: −$2,307
• − Management: −$2,307
• − Depreciation: −$4,943
• Taxable income: $8,332
• Est. tax owed @ 24.0%: −$2,000
• After-tax cash flow: $8,658/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

+402.7% since first listed

3 events — show timeline

• 2026-06-02 Listed $169,900 WNYREIS
• 2024-04-02 Sold (Public Records) $90,000 Public Records
• 2004-10-08 Sold (Public Records) $33,800 Public Records

Property tax history

+7.1%/yr

Latest (2025): $581 · +48.1% YoY. Source: county tax records.