296 Strauss St · Buffalo, NY 14211

$96,000

6 bd · 2.0 ba · 2,699 sqft · MultiFamily public records · 5 Days on market

Built 1910 4,260 sqft lot Est $157k · 39% 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
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• Appreciation +6.0/10.0
• Livability +3.9/5.0
• Schools +3.3/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0

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 296 Strauss St, Buffalo, NY 14211 — a fantastic opportunity for both investors and owner-occupants! This multi-family property features two spacious units, Total of 6 bedrooms, 2 full bathrooms, and 2 kitchens. Each unit provides comfortable living spaces with functional layouts, making it ideal for rental income or multi-generational living.

Key facts

• 4,260 sq ft lot
• Built 1910
• Listed 5 days

Property features AI

Finance

• Other: Two total dwelling units
• Financial info: Owner pays: other (see remarks); Rent includes: see remarks; Operating expenses: see remarks

Exterior

• Parking: Concrete parking
• Utilities: Separate gas and electric meters (one set per unit)
• Home design: Two-story multi-family building; Resale property; Brick and frame construction
• Construction: Brick and frame construction; Existing structure (previously built)
• Exterior features: Rectangular lot; Lot dimensions approximately 30 x 142

Interior

• Kitchen: Water heater listed (see remarks for additional appliance details)
• Bedrooms: Two separate 3-bedroom units (each unit includes a formal dining room and living room)
• Flooring: Hardwood; Varies
• Bathrooms: Two full bathrooms total (one full bathroom in each unit)
• Heating & cooling: Heating details: see remarks
• Interior features: Hardwood and varied flooring; Full basement
• Laundry & utility: Separate gas and electric meters for each unit (2 gas meters, 2 electric meters)

What this means for you Summary

Snapshot

• This is a 6-bed/2.0-bath multifamily listed at $96k.

Deal economics

• At list price, monthly cash flow is $2k ($26k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($4k rent vs $96k).
• Cap rate 33.4% 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: 172 active listings in the ZIP; 1 comparable units currently listed for rent nearby; lower-income renter base — watch delinquency; 1,244 units permitted in Erie County in 2024 (563 in 5+ unit buildings).
• At $3,580/mo this rent would consume 118% of the median local household income ($36k/yr) (locally 1804% 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 $3k of equity ($664 loan paydown + $2k appreciation (2.0% local appreciation)).
• At projected returns (2.0% appreciation + 3.0% rent growth), your $27k cash investment doubles in ~1 year — after that, you're playing with house money.

Negotiation context

• Only 5 days on market — expect competitive offers; lowballing is unlikely to land.

Risks & watch-outs

• Watch-outs: built in 1910 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: moderate flood risk — expect insurance premiums to compound above CPI over the hold.

Recommended offer $96,000

Questions for the listing agent

1. Built in 1910 — 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: 3.73% ✓
• Cap rate: 33.35%
• Cash-on-cash: 96.64%
• DSCR: 5.30
• GRM: 2.2

CMA / ARV

• ARV (on-the-fly): $156,542
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1002 Humboldt Pkwy	0.50mi	6/2.0	2,684 (-1%)	8mo	$185,750	$69	69
37 Pershing Ave	0.49mi	5/3.0 (-1)	2,641 (-2%)	1mo	$85,000	$32	63
144 Grey St	0.59mi	6/2.0	2,568 (-5%)	8mo	$70,000	$27	58
75 Mills St	0.43mi	5/3.0 (-1)	2,506 (-7%)	3mo	$130,100	$52	56
511 Dodge St	0.48mi	5/3.0 (-1)	2,564 (-5%)	8mo	$80,000	$31	53
361 E North St Unit S	0.68mi	5/2.5 (-1)	2,544 (-6%)	3mo	$172,500	$68	49
497-499 Riley St	0.66mi	6/2.0	2,380 (-12%)	2mo	$105,900	$44	48
509 E Utica St	0.75mi	6/2.0	2,976 (+10%)	3mo	$135,800	$46	45
494 Best St	0.48mi	6/2.0	2,352 (-13%)	17mo	$267,000	$114	42
53 Pershing Ave	0.50mi	5/2.0 (-1)	2,360 (-13%)	11mo	$149,000	$63	42
25 Woltz Ave	0.53mi	7/3.0 (+1)	2,320 (-14%)	11mo	$135,000	$58	34
439 Riley St	0.72mi	6/2.0	2,320 (-14%)	17mo	$253,000	$109	29

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

2.05% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: —
• Equity multiple: 6.39×
• Total profit: $144,751
• Equity at exit: $38,120

10-year hold

• IRR: —
• Equity multiple: 13.21×
• Total profit: $328,299
• Equity at exit: $55,091

Cash invested: $26,880 (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 14211

• Home prices YoY: 0.6%
• Active inventory: 172
• Price-to-rent: 4.5×

Monthly cashflow live

• Estimated rent: $3,580 high
• Mortgage (P&I): −$503
• Tax est. 1.5%: −$120 /mo · $1,440/yr
• Insurance: −$40
• HOA: −$0
• Vacancy / Maint / Mgmt: −$752
• Net cashflow: $2,165

Break-even live

Break-even rent $840

Max offer price $96,000

Occupancy floor 35%

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

Units	Beds	Baths	Est. rent
▸ 2× units	3	1	$3,580
Total (2 units)			$3,580

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: $24,000
• Closing costs: $2,880
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
518 Wilson St Buffalo, NY	5.0	1.5	1848	$1,500	$0.81	24d	1	0.12mi

Listing history 2 events

1. 2026-05-12
   status Pending
2. 2026-05-07
   listed $96,000 Active

ⓘ 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 5/10 Major FEMA zone X (unshaded) · 65% 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: $42,960
• − Mortgage interest: −$5,377
• − Property taxes: −$1,440
• − Insurance: −$480
• − Repairs & maintenance: −$3,437
• − Management: −$3,437
• − Depreciation: −$2,793
• Taxable income: $25,996
• Est. tax owed @ 24.0%: −$6,239
• After-tax cash flow: $19,738/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): 24,663
• Household income: $36,300
• Rent vs Own: 54.8% rent · 45.2% own
• Severe rent burden: 1804.0

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: Diverse neighborhood (Simpson 0.60)
• Race & ethnicity: Black 59% Asian 20% Hispanic / Latino 9% White 9% Two or more races 5%
• Hispanic origin (detail): Puerto Rican 6%
• Common ancestry: Romanian 4%
• Foreign-born: 17% · Canada, Philippines, Vietnam
• Languages at home: 74% English-only · Other Indo-European 14% Spanish 6% Other Asian/Pacific 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: ▲ 2.05%
• Current HPI: 357.6438
• Rent YoY: —
• 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

2 events — show timeline

• 2026-05-12 Pending — WNYREIS
• 2026-05-07 Listed $96,000 WNYREIS

Property tax history

+7.3%/yr

Latest (2025): $118 · +0.0% YoY. Source: county tax records.