247 Columbus Ave · Buffalo, NY 14220

$194,900

5 bd · 2.0 ba · 2,085 sqft · MultiFamily public records · 41 Days on market

Built 1910 3,150 sqft lot $93/sqft · 56% below area

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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
• DSCR +10.0/10.0
• 1% rule +9.1/10.0
• ARV discount +7.5/15.0
• Rent growth +4.4/5.0
• 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: 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 PROPERTY
• SPACIOUS LAYOUTS
• GENEROUS NATURAL LIGHT
• STRONG INCOME POTENTIAL
• CLOSE TO LOCAL SHOPS
• CLOSE TO DINING

Property features AI

Finance

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

Exterior

• Parking: Paved parking with two or more spaces
• Utilities: Public water connected; Sewer connected
• Home design: Two-story building; Existing/resale property
• Construction: Constructed with block, concrete, vinyl siding and wood siding
• Exterior features: Rectangular residential lot; Near public transit; City street frontage

Interior

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

What this means for you Summary

Snapshot

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

Deal economics

• At list price, monthly cash flow is $1k ($12k/yr) — positive. Per door: $501/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 12.5% 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 (+7.6%/yr); 136 active listings in the ZIP; 1,244 units permitted in Erie County in 2024 (563 in 5+ unit buildings).
• At $2,739/mo this rent would consume 46% of the median local household income ($71k/yr) (locally 602% 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 $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 41 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 41 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 1910 — 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: 1.41% ✓
• Cap rate: 12.46%
• Cash-on-cash: 22.04%
• DSCR: 1.98
• GRM: 5.9

CMA / ARV

• ARV (median comp): $439,950
• List price: $194,900
• Delta: -55.70%
• 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
81 Melrose St	0.37mi	4/2.0 (-1)	2,116 (+2%)	5mo	$264,000	$125	71
389 Cumberland Ave	0.16mi	5/2.0	2,328 (+12%)	5mo	$280,000	$120	69
28 Paul Pl	0.58mi	4/2.0 (-1)	2,144 (+3%)	0mo	$230,000	$107	63
889 Tifft St	0.59mi	4/2.0 (-1)	2,112 (+1%)	4mo	$210,000	$99	62
32 Magnolia Ave	0.38mi	6/2.0 (+1)	2,376 (+14%)	5mo	$225,000	$95	50
42 Mineral Spring Rd	0.68mi	6/2.0 (+1)	2,278 (+9%)	0mo	$300,000	$132	48
35 Kimmel Ave	0.75mi	6/2.0 (+1)	2,218 (+6%)	2mo	$225,000	$101	48
110 Trowbridge St	0.67mi	6/2.0 (+1)	2,264 (+9%)	4mo	$180,000	$80	46
26 Kamper Ave	0.54mi	6/2.0 (+1)	2,394 (+15%)	3mo	$179,000	$75	43
111 Harding Rd	0.68mi	4/2.0 (-1)	2,330 (+12%)	3mo	$225,000	$97	41
50 Macamley St	0.68mi	4/2.0 (-1)	2,328 (+12%)	4mo	$145,000	$62	41
165 Lockwood Ave	0.67mi	4/3.0 (-1)	1,865 (-11%)	3mo	$195,000	$105	40

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: 19.5%
• Equity multiple: 1.83×
• Total profit: $45,500
• Equity at exit: $29,060

10-year hold

• IRR: 30.6%
• Equity multiple: 4.33×
• Total profit: $181,679
• 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.

Methodology + full state rankings →

ZIP-level market 14220

• Home prices YoY: -26.7%
• Rents YoY: 7.6%
• Active inventory: 136
• Price-to-rent: 11.9×

Monthly cashflow live

• Estimated rent: $2,739 high
• Mortgage (P&I): −$1,022
• Tax from tax record: −$58 /mo · $700/yr
• Insurance: −$81
• HOA: −$0
• Vacancy / Maint / Mgmt: −$575
• Net cashflow: $1,002

Break-even live

Break-even rent $1,470

Max offer price $194,900

Occupancy floor 58%

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

Units	Beds	Baths	Est. rent
▸ 2× units	2	1	$2,738
Total (2 units)			$2,739

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: —

Listing history 21 events

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

Taxation est. · year 1

• Rental income: $32,868
• − Mortgage interest: −$10,917
• − Property taxes: −$700
• − Insurance: −$974
• − Repairs & maintenance: −$2,629
• − Management: −$2,629
• − Depreciation: −$5,670
• Taxable income: $9,347
• Est. tax owed @ 24.0%: −$2,243
• After-tax cash flow: $9,783/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): 24,428
• Household income: $70,963
• Rent vs Own: 29.3% rent · 70.7% own
• Severe rent burden: 602.0

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: 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: —

Market trends

• HPI YoY: ▼ -146.29%
• Current HPI: 402.5053
• Rent YoY: ▲ 7.62%
• 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

+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.