CashFlowRE
Sign in Sign up
247 Columbus Ave Duplex
B+ Composite 78.73
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 +8.8/10.0
  • Rent growth +4.4/5.0
  • Schools +4.4/10.0
  • Livability +3.9/5.0
  • Condition / age +2.2/5.0
  • Appreciation +0.0/10.0

$194,900

247 Columbus Ave · Buffalo, NY 14220
5 bd · 2.0 ba · 2,085 sqft · MultiFamily public records · 47 Days on market
Built 1910 Fair condition 3,150 sqft lot $93/sqft · 46% below area Est $359k · 46% under

🖨 Deal sheet (PDF) 📄 Offer letter ✓ Due diligence

Multi-family units

County records classify this as Multi-Family (2-4 Unit). Listing-text estimate: 2 units. confirmed

Listing remarks

Welcome to 247 Columbus Avenue, a well-located two-unit property in the heart of Buffalo. This double offers two separate units with spacious layouts, generous natural light, and classic details throughout. Ideal for owner-occupants or investors, the property presents strong income potential while remaining close to local shops, dining, parks, and major commuting routes. A great opportunity to live in one unit and rent the other, or add a solid multi-family asset to your portfolio as both units are occupied. Convenient city living with long-term upside—don’t miss this one.

Key facts

  • Spacious layouts
  • Two unit property
  • Close to dining

Tags

TWO UNIT PROPERTYSPACIOUS LAYOUTSGENEROUS NATURAL LIGHTSTRONG INCOME POTENTIALCLOSE TO LOCAL SHOPSCLOSE TO DINING

Neighborhood map

Property Rental comp Retail Costco Walmart Transit Schools Stadiums Fortune 500 · Circle radius: 6.0 mi
Loading POIs…

What this means for you Summary

Snapshot

  • This is a 2 × 2-bed/1.0-bath units multifamily listed at $195k. Condition is rated fair.

Deal economics

  • At list price, monthly cash flow is $967 ($12k/yr) — positive. Per door: $484/mo.
  • The deal already cash-flows at list — no discount required.
  • Meets the 1% rule at list price ($3k rent vs $195k).
  • Recommended offer: $189k (3.0% below list) — sets the bar for market timing.
  • Cap rate 12.2% vs local median 7.0% 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.
  • 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 rising fast (+7.6%/yr); 187 active listings in the ZIP; 1,244 units permitted in Erie County in 2024 (563 in 5+ unit buildings).

Forward outlook

  • Local home prices are declining (-3.0%/yr); year-one equity from $1k of loan paydown is wiped out by about $6k of value loss. Plan a longer hold.
  • At projected returns (-3.0% appreciation + 7.6% rent growth), your $55k cash investment doubles in ~5 years — after that, you're playing with house money.

Negotiation context

  • It's been on market 47 days — a 3% lower offer ($189k) is reasonable based on typical stale-listing flexibility.
  • 3 sale attempts since 12y ago; this cycle's ask is 30% above the opening price — seller raised mid-cycle; expect resistance to lowballs.
  • Current owner paid $54k; list at $195k implies a 261% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

  • Watch-outs: built in 1910 — expect roof / HVAC / electrical / plumbing capex.
Recommended offer $189,053 (3.0% below list)

Questions for the listing agent

  1. It's been on market 47 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. Have any recent inspections been done? Can we get a copy of the seller's disclosures and any deferred-maintenance estimates?
  5. Built in 1910 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
  6. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
  7. 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?
  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 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
1.38%
Cap rate
12.25%
Cash-on-cash
21.27%
DSCR
1.95
GRM
6.0

CMA / ARV

ARV (median comp)
$359,378
List price
$194,900
Delta
-45.77%
Verdict
UNDERPRICED
Comps
20 within 1.0 mi
Show comp detail 12 sales within ~0.75 mi
Address Dist Beds/Ba Sqft Sold Price $/sf Match
2296 Seneca St 0.57mi 4/2.0 (-1) 2,153 (+3%) 1mo $220,000 $102 62
28 Paul Pl 0.58mi 4/2.0 (-1) 2,144 (+3%) 2mo $230,000 $107 62
889 Tifft St 0.59mi 4/2.0 (-1) 2,112 (+1%) 5mo $210,000 $99 61
52 Kamper Ave 0.59mi 6/2.0 (+1) 2,244 (+8%) 1mo $220,000 $98 54
85 Hayden St 0.70mi 6/2.0 (+1) 2,200 (+6%) 0mo $190,000 $86 53
215 Stevenson St 0.58mi 6/2.0 (+1) 2,332 (+12%) 0mo $275,000 $118 48
42 Mineral Spring Rd 0.68mi 6/2.0 (+1) 2,278 (+9%) 2mo $300,000 $132 46
35 Kimmel Ave 0.75mi 6/2.0 (+1) 2,218 (+6%) 4mo $225,000 $101 46
26 Kamper Ave 0.54mi 6/2.0 (+1) 2,394 (+15%) 4mo $179,000 $75 41
111 Harding Rd 0.68mi 4/2.0 (-1) 2,330 (+12%) 5mo $225,000 $97 40
50 Macamley St 0.68mi 4/2.0 (-1) 2,328 (+12%) 6mo $145,000 $62 39
165 Lockwood Ave 0.67mi 4/3.0 (-1) 1,865 (-11%) 4mo $195,000 $105 38

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 · 7.62% rent growth · sell at horizon

5-year hold
IRR
18.5%
Equity multiple
1.79×
Total profit
$43,071
Equity at exit
$29,060
10-year hold
IRR
29.7%
Equity multiple
4.22×
Total profit
$175,745
Equity at exit
$16,851

Cash invested: $54,572 (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.
Balanced market Market conditions within 1.0 mi — comparable homes for sale

Active competition Active MLS

For sale now
20 active · 37 under contract
Months of supply
4.0 mo (25%/mo absorbed)
Median asking
$224,450 ($106/sqft)
Median days on market
54 d
This list price
30% of active listings are priced below it
ARV vs active asking
+63.2% above current asking $/sqft

Closed sales set the value; these active listings set current market conditions and a practical price ceiling.

ZIP-level market 14220

Home prices YoY
-26.7%
Rents YoY
7.6%
Active inventory
187
Price-to-rent
12.1×

Monthly cashflow live

Estimated rent
$2,695 high interval (Pro) →
Mortgage (P&I)
$1,022
Tax from tax record
$58 /mo · $700/yr
Insurance
$81
HOA
$0
Vacancy / Maint / Mgmt
$566
Net cashflow
$967

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

UnitsBedsBathsEst. rent
Total (2 units) $2,695

Break-even live

Break-even rent $1,470
Max offer price $194,900
Occupancy floor 59%

Sensitivity live

Price -10% $1,078 -5% $1,023 +0% $967 +5% $912 +10% $857
Rent -10% $755 -5% $861 +0% $967 +5% $1,074 +10% $1,180
Rate -1.0pp $1,066 -0.5pp $1,017 base $967 +0.5pp $917 +1.0pp $866

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
$48,725
Closing costs
$5,847
Reserves months
Total cash needed

Loan-product check · same deal, 3 products live

Conventional

25% down · 7.5% · 30yr

Cash invested
Monthly P&I
Monthly cashflow
DSCR
Eligible?

Personal DTI + credit; lowest rate.

DSCR

20% down · 8.5% · 30yr

Cash invested
Monthly P&I
Monthly cashflow
DSCR
Eligible?

No personal income docs; deal must DSCR.

Hard money

10% down · 12.0% · 12mo

Cash invested
Monthly P&I
Monthly cashflow
DSCR
Eligible?

Short-term bridge; refi at stabilization.

Rent comps 40 comps

AddressBedsBaths SqftRent$/sqft DOM Units Dist
86 Edgewood Ave Buffalo, NY 2.0 2.0 1700 $1,700 $1.00 11d 1 0.10mi
298 Cumberland Ave Buffalo, NY 3.0 1.5 1208 $2,200 $1.82 46d 1 0.19mi
32 Milford St Buffalo, NY 3.0 1.0 $1,425 93d 1 0.23mi
42 Princeton Pl Buffalo, NY 1.0 1.0 $750 47d 1 0.32mi
61 Princeton Pl Buffalo, NY 2.0 1.0 860 $1,250 $1.45 17d 1 0.35mi
61 Princeton Pl Buffalo, NY 2.0 1.0 820 $1,300 $1.59 52d 1 0.35mi
2111 Seneca St #3 Buffalo, NY 2.0 1.0 937 $1,150 $1.23 93d 1 0.43mi
40 Geary St Unit 1 Buffalo, NY 3.0 1.0 2544 $1,350 $0.53 25d 1 0.44mi
111 Southside Pkwy Buffalo, NY 1.0 1.0 1000 $1,000 $1.00 73d 1 0.44mi
2096 Seneca St Buffalo, NY 1.0 1.0 474 $1,000 $2.11 93d 1 0.47mi
227 Abbott Rd Unit 4 Buffalo, NY 1.0 1.0 550 $965 $1.75 64d 1 0.47mi
39 Coronada St Buffalo, NY 3.0 1.0 $1,200 93d 1 0.48mi
187 Melrose St Unit 2 Buffalo, NY 2.0 1.0 $700 32d 1 0.48mi
214 Abbott Rd Unit 2 Buffalo, NY 2.0 1.0 945 $1,200 $1.27 64d 1 0.50mi
46 Norman Ave Buffalo, NY 2.0 1.0 $700 17d 1 0.53mi
40 Ryan St Buffalo, NY 2.0 1.0 $1,250 73d 1 0.58mi
1927 Seneca St Buffalo, NY 3.0 1.0 1196 $1,250 $1.05 73d 1 0.58mi
34 Hayden St Unit Back Buffalo, NY 3.0 1.0 1200 $1,600 $1.33 93d 1 0.59mi
50 Ryan St Buffalo, NY 2.0 1.0 1170 $1,150 $0.98 30d 1 0.60mi
74 Woodside Ave Unit 1 Buffalo, NY 3.0 1.0 1250 $1,510 $1.21 46d 1 0.61mi
1899 Seneca St Buffalo, NY 3.0 1.0 1134 $1,075 $0.95 64d 1 0.62mi
212 Lockwood Ave Unit Lower Buffalo, NY 3.0 1.0 1272 $1,475 $1.16 11d 1 0.62mi
212 Lockwood Ave Unit Upper Buffalo, NY 3.0 1.0 1272 $1,350 $1.06 11d 1 0.62mi
89 Macamley St #2 Buffalo, NY 3.0 1.0 1274 $1,100 $0.86 60d 1 0.62mi
76 Hammerschmidt Ave Buffalo, NY 3.0 1.0 1200 $1,275 $1.06 51d 1 0.62mi
67 Newman Pl Buffalo, NY 3.0 1.0 1482 $1,475 $1.00 11d 1 0.64mi
23 Indian Orchard Pl Unit Lower Buffalo, NY 3.0 1.0 1200 $1,250 $1.04 93d 1 0.68mi
151 Amber St Unit Upper Buffalo, NY 2.0 1.0 1058 $1,200 $1.13 32d 1 0.70mi
109 Spaulding St Unit Rear Buffalo, NY 2.0 1.0 3000 $1,150 $0.38 52d 1 0.70mi
109 Spaulding St Unit Rear Buffalo, NY 2.0 1.0 3000 $1,150 $0.38 93d 1 0.70mi
122 Spaulding St Buffalo, NY 3.0 1.0 $1,100 41d 1 0.71mi
94 Edson St Buffalo, NY 2.0 1.0 $950 93d 1 0.74mi
80 Abbott Rd Buffalo, NY 3.0 1.0 $1,400 41d 1 0.75mi
98 Edson St Buffalo, NY 2.0 1.0 $925 41d 1 0.76mi
178 Ridgewood Rd Unit 3 Buffalo, NY 2.0 1.0 950 $1,200 $1.26 35d 1 0.77mi
102 Wildwood Pl Unit 1 Buffalo, NY 3.0 1.0 1100 $1,250 $1.14 65d 1 0.80mi
161 Edson St Buffalo, NY 3.0 1.0 $1,200 69d 1 0.86mi
21 Amber St Unit UPPER Buffalo, NY 2.0 1.0 2112 $1,300 $0.62 27d 1 0.91mi
262 Indian Church Rd Buffalo, NY 2.0 1.0 $1,200 93d 1 0.99mi
46 Kirkwood Dr Unit Lower West Seneca, NY 2.0 1.0 1064 $1,350 $1.27 65d 1 1.00mi

Property features AI

Finance

Financial info
Property configured as a 2-unit multifamily with separate gas and electric meters for each unitBoth units currently month-to-monthEach unit currently rents for $785Operating expenses may include accounting, insurance, legal, maintenance, professional management and utilitiesOwner pays trash collection and water; rent includes trash collection and water

Exterior

Parking
Paved parking with two or more spaces
Utilities
Public water connectedSewer connected
Home design
Two-story buildingExisting/resale property
Construction
Constructed with block, concrete, vinyl siding and wood siding
Exterior features
Rectangular residential lotNear public transitCity street frontage

Interior

Kitchen
Each unit includes an eat-in kitchen
Bedrooms
Two 2-bedroom units (each unit has 2 bedrooms)
Flooring
CarpetHardwoodVinylVaries
Bathrooms
Two full bathrooms (one in each unit)
Heating & cooling
Gas forced-air heating
Interior features
Full basementCarpet, hardwood, vinyl and varying flooring throughout
Laundry & utility
Gas water heater

Listing history 24 events

  1. 2026-06-25
    days on market $194,900 Active 47 DOM
  2. 2026-06-22
    days on market $194,900 Active 45 DOM
  3. 2026-06-21
    days on market $194,900 Active 44 DOM
  4. 2026-06-18
    days on market $194,900 Active 41 DOM
  5. 2026-06-17
    days on market $194,900 Active 40 DOM
  6. 2026-06-16
    days on market $194,900 Active 39 DOM
  7. 2026-06-15
    days on market $194,900 Active 38 DOM
  8. 2026-06-13
    days on market $194,900 Active 36 DOM
  9. 2026-06-13
    days on market $194,900 Active 35 DOM
  10. 2026-06-10
    days on market $194,900 Active 33 DOM
  11. 2026-06-09
    days on market $194,900 Active 32 DOM
  12. 2026-06-08
    days on market $194,900 Active 31 DOM
  13. 2026-06-07
    days on market $194,900 Active 30 DOM
  14. 2026-06-03
    days on market $194,900 Active 26 DOM
  15. 2026-06-02
    days on market $194,900 Active 25 DOM
  16. 2026-06-01
    days on market $194,900 Active 24 DOM
  17. 2026-05-31
    days on market $194,900 Active 23 DOM
  18. 2026-05-09
    price $194,900 591-char remark
  19. 2026-05-08
    listed $149,900 Active 591-char remark
  20. 2026-02-13
    historical
  21. 2025-11-03
    price $199,900
  22. 2025-08-13
    listed $207,000 Active
  23. 2014-03-17
    listed $57,900
  24. 2007-11-30
    soldstatus $54,000

ⓘ 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
$700 · $58/mo
Projected year-2 tax
$1,997 · $166/mo
Expected delta
+$1,297/yr (+$108/mo · 185.2%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Climate risk First Street

  • 🌊 Flood 2/10 Low FEMA zone X (unshaded) · 3% chance over 30 yrs
  • 🔥 Wildfire 1/10 Low
  • 🌡 Heat 3/10 Moderate 7 d/yr ≥92°F today · 15 d/yr by 30 yrs out
  • 💨 Wind 1/10 Low
  • 🫁 Air quality 4/10 Moderate 3 unhealthy d/yr today · 8 by 30 yrs out

Nearby sold comps map

Loading sold comps map…

Walkable amenities ~0.75 mi

Loading nearby amenities…

Taxation est. · year 1

Rental income
$32,340
− Mortgage interest
−$10,917
− Property taxes
−$700
− Insurance
−$974
− Repairs & maintenance
−$2,587
− Management
−$2,587
− Depreciation
−$5,670
Taxable income
$8,904
combined federal + state — saved on this device
Est. tax owed @ 24.0%
−$2,137
After-tax cash flow
$9,472/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.

Condition & rehab AI · 3 photos

Fair 45/100 Moderate rehab Est. rehab $52,125–$93,825 screening

This two-unit property requires significant repairs and updates to improve its condition and value. The roof, exterior siding, flooring, interior walls, and HVAC unit all need major attention. Addressing these issues will significantly enhance the property's resale and rental value.

Repairs flagged

  • Major roof — Significant damage and potential leakage
  • Major exterior siding — Severe wear and peeling paint
  • Major flooring — Old and worn, needs replacement
  • Major interior walls/paint — Peeling paint and signs of wear
  • Major HVAC unit — Old and possibly inefficient

Value-add opportunities

  • Both New roof — Fixes major issue and improves curb appeal
  • Both New exterior siding — Enhances curb appeal and structural integrity
  • Both New flooring — Improves living space and adds value
  • Both New interior paint — Enhances interior appearance and adds value
  • Both New HVAC unit — Improves comfort and energy efficiency

ⓘ Rehab cost is a screening estimate — Moderate scope × the home's square footage at US $/sqft rules of thumb (the same model as the Flip Finder). Get contractor quotes + a written scope before underwriting.

F Composite school gradezoned avg 44/100

Zoned Schools

Elementary Lorraine Elementary School F NY #1,444/2,108 Nat'l #19,648/41,679 High South Park High School D NY #999/1,100 Nat'l #6,127/17,239

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
B Composite livability gradescore 77/100

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 · 933,037 people
City population
440,021
Metro
Buffalo-Cheektowaga, NY
Population (ZIP)
24,428
Household income
$70,963
Rent vs Own
29.3% rent · 70.7% own
Severe rent burden
12% of renters

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 White (76%)
Race & ethnicity
White 76% Hispanic / Latino 13% Two or more races 6% Black 5% Asian 2%
Hispanic origin (detail)
Puerto Rican 10% Cuban 1%
Common ancestry
Romanian 16% Lithuanian 1% Subsaharan African 1%
Foreign-born
4% · Canada, Jamaica, China
Languages at home
90% English-only · 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

Price history

+260.9% since first listed
7 events — show timeline
  • 2026-05-09 Price Changed $194,900 WNYREIS
  • 2026-05-08 Listed $149,900 WNYREIS
  • 2026-02-13 Listing Removed WNYREIS
  • 2025-11-03 Price Changed $199,900 WNYREIS
  • 2025-08-13 Listed $207,000 WNYREIS
  • 2014-03-17 Listed $57,900 WNYREIS
  • 2007-11-30 Sold (Public Records) $54,000 Public Records

Property tax history

+8.2%/yr

Latest (2025): $700 · +21.3% YoY. Source: county tax records.

Cash-flow waterfall

monthly

Sold comps — $/sqft

last 12 mo · ≤1 mi

Loading sold comps…