96 Dorris Ave · Buffalo, NY 14215

$149,000

6 bd · 2.0 ba · 2,200 sqft · MultiFamily public records · 6 Days on market

Built 1928 3,600 sqft lot Est $165k · 10% 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 +11.9/15.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• Livability +3.9/5.0
• Schools +3.3/10.0
• Rent growth +2.7/5.0
• 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 96 Dorris Ave, Buffalo, NY! This 3/3 double presents an excellent opportunity for both investors and owner-occupants looking to build equity. The property features spacious units, solid mechanics, a full basement, and a full attic, offering ample storage and added potential. Enjoy a backyard and the convenience of off-street parking. Ideally located near public transportation, shopping, restaurants, and other local amenities. While the property does require some updates and TLC, with the right vision and improvements, this multi-family property can be transformed into a great investment opportunity. Don’t miss your chance to bring this property’s full potential to lif

Key facts

• Backyard
• Full basement
• Local amenities

Tags

• FULL BASEMENT
• FULL ATTIC
• BACKYARD
• OFF-STREET PARKING
• PUBLIC TRANSPORTATION
• LOCAL AMENITIES

Property features AI

Finance

• Financial info: Owner pays water; water expense included in operating/rent considerations; Operating expenses include water/sewer

Exterior

• Parking: Detached or on-site garage with 2 garage spaces; Additional two or more parking spaces
• Utilities: Electricity connected (circuit breakers); Public water connected; Sewer connected; Cable available; High-speed internet available
• Home design: Two-story building; Resale property; Asphalt roof; Vinyl siding
• Construction: Existing construction; Vinyl siding; Asphalt roof
• Exterior features: Near public transit; Rectangular residential lot with 30 x 120 dimensions; City street frontage

Interior

• Kitchen: Gas water heater
• Bedrooms: Two 3-bedroom units (each unit lists 3 bedrooms)
• Flooring: Hardwood; Varies by area
• Bathrooms: Each unit has 1 full bathroom (2 full bathrooms total)
• Heating & cooling: Gas forced-air heating
• Interior features: Hardwood and varied flooring; Full basement
• Laundry & utility: Common area laundry

What this means for you Summary

Snapshot

• This is a 6-bed/2.0-bath multifamily listed at $149k.

Deal economics

• At list price, monthly cash flow is $1k ($14k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $149k).
• Cap rate 16.0% 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.
• 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 flat; 239 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 $2,643/mo this rent would consume 71% of the median local household income ($45k/yr) (locally 2873% 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 $4k of value loss. Plan a longer hold.
• At projected returns (-3.0% appreciation + 0.7% rent growth), your $42k cash investment doubles in ~4 years — after that, you're playing with house money.

Negotiation context

• Only 6 days on market — expect competitive offers; lowballing is unlikely to land.
• Current owner paid $35k; list at $149k implies a 326% 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 $149,000

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: 1.77% ✓
• Cap rate: 15.95%
• Cash-on-cash: 34.49%
• DSCR: 2.53
• GRM: 4.7

CMA / ARV

• ARV (on-the-fly): $165,000
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
66 Kermit Ave	0.18mi	6/2.0	2,142 (-3%)	7mo	$75,000	$35	81
440 Cornwall Ave	0.38mi	6/2.0	2,200 (0%)	7mo	$131,000	$60	77
94 Ericson Ave	0.37mi	6/2.0	1,974 (-10%)	2mo	$85,000	$43	64
96 Sussex St	0.55mi	5/2.0 (-1)	2,152 (-2%)	4mo	$255,000	$118	63
358 Newburgh Ave	0.34mi	5/2.0 (-1)	1,959 (-11%)	2mo	$165,000	$84	59
815 E Delavan Ave	0.68mi	6/2.0	2,096 (-5%)	4mo	$160,000	$76	57
266 Cambridge Ave	0.52mi	6/2.0	2,000 (-9%)	7mo	$75,000	$38	55
246 Cambridge Ave	0.54mi	6/2.0	2,000 (-9%)	6mo	$117,000	$59	55
183 Freund St	0.71mi	6/2.0	2,332 (+6%)	7mo	$140,000	$60	51
14 Phyllis Ave	0.66mi	6/2.0	1,987 (-10%)	4mo	$227,500	$114	49
199 Schuele Ave	0.74mi	6/2.0	2,392 (+9%)	3mo	$178,500	$75	48
1402 E Delavan Ave Unit N	0.55mi	6/2.0	2,523 (+15%)	6mo	$225,000	$89	45

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 · 0.67% rent growth · sell at horizon

5-year hold

• IRR: 27.4%
• Equity multiple: 2.11×
• Total profit: $46,125
• Equity at exit: $22,216

10-year hold

• IRR: 33.6%
• Equity multiple: 3.75×
• Total profit: $114,602
• Equity at exit: $12,883

Cash invested: $41,720 (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 14215

• Home prices YoY: -30.0%
• Rents YoY: 0.7%
• Active inventory: 239
• Price-to-rent: 9.4×

Monthly cashflow live

• Estimated rent: $2,643 high
• Mortgage (P&I): −$781
• Tax from tax record: −$45 /mo · $545/yr
• Insurance: −$62
• HOA: −$0
• Vacancy / Maint / Mgmt: −$555
• Net cashflow: $1,199

Break-even live

Break-even rent $1,125

Max offer price $149,000

Occupancy floor 50%

Sensitivity live

Price	-10% $1,283	-5% $1,241	+0% $1,199	+5% $1,157	+10% $1,115
Rent	-10% $990	-5% $1,095	+0% $1,199	+5% $1,304	+10% $1,408
Rate	-1.0pp $1,274	-0.5pp $1,237	base $1,199	+0.5pp $1,160	+1.0pp $1,121

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

Units	Beds	Baths	Est. rent
▸ 2× units	3	1.5	$2,642
Total (2 units)			$2,643

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: $37,250
• Closing costs: $4,470
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
145 Minnesota Ave Buffalo, NY	7.0	2.0	2551	$4,900	$1.92	16d	1	1.49mi

Listing history 5 events

1. 2026-06-21
   days on market $149,000 Active 6 DOM
2. 2026-06-18
   days on market $149,000 Active 3 DOM
3. 2026-06-17
   days on market $149,000 Active 2 DOM
4. 2026-06-15
   remarks 687-char remark
5. 2026-06-15
   listed $149,000 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: $545 · $45/mo
• Projected year-2 tax: $1,531 · $128/mo
• Expected delta: +$987/yr (+$82/mo · 181.1%)

ⓘ 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 2 unhealthy d/yr today · 3 by 30 yrs out

Taxation est. · year 1

• Rental income: $31,716
• − Mortgage interest: −$8,346
• − Property taxes: −$545
• − Insurance: −$745
• − Repairs & maintenance: −$2,537
• − Management: −$2,537
• − Depreciation: −$4,335
• Taxable income: $12,671
• Est. tax owed @ 24.0%: −$3,041
• After-tax cash flow: $11,348/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): 42,524
• Household income: $44,955
• Rent vs Own: 50.0% rent · 50.0% own
• Severe rent burden: 2873.0

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 Black (67%)
• Race & ethnicity: Black 67% White 15% Asian 7% Hispanic / Latino 6% Two or more races 6%
• Hispanic origin (detail): Puerto Rican 4%
• Common ancestry: Romanian 4% Lithuanian 1% Italian 1%
• Foreign-born: 9% · Canada, China
• Languages at home: 88% English-only · Other Indo-European 4% 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: ▼ -126.29%
• Current HPI: 295.2966
• Rent YoY: ▲ 0.67%
• 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

+727.8% since first listed

5 events — show timeline

• 2026-06-15 Listed $149,000 WNYREIS
• 2020-02-11 Sold (Public Records) $35,000 Public Records
• 2004-12-29 Sold (Public Records) $50,000 Public Records
• 2004-12-29 Sold (Public Records) $22,000 Public Records
• 1999-06-22 Sold (Public Records) $18,000 Public Records

Property tax history

+8.8%/yr

Latest (2025): $545 · +111.3% YoY. Source: county tax records.