15 Seneca Pksd · Buffalo, NY 14210

$259,900

6 bd · 2.0 ba · 2,190 sqft · MultiFamily · 9 Days on market

Built 1900 Good condition 3,424 sqft lot Est $239k · 9% over

---

Why this score? — see what drove the C+ 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 +22.3/30.0
• Appreciation +10.0/10.0
• DSCR +7.1/10.0
• 1% rule +5.8/10.0
• Rent growth +5.0/5.0
• Livability +3.9/5.0
• Condition / age +3.8/5.0
• ARV discount +3.5/15.0
• Schools +3.3/10.0

Multi-family units

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

Listing remarks MLS

Privacy abound on this quiet dead-end street adjoining an Olmsted Park! Buy now and use the 190 acres of Cazenovia Park as your back yard. This property offers two spacious 3BR/1BA apartments and has been family owned for three generations. Live for free while the second unit pays the mortgage or add a strong earner to your growing portfolio. This place fits the bill for either option! Offers, if any, will be due on 10/21/24 at 12PM.

Key facts

• Green space
• Two-unit property
• Cazenovia park

Tags

• TWO-UNIT PROPERTY
• BRAND-NEW WINDOWS
• LARGE WALK-UP ATTIC
• CAZENOVIA PARK
• WALKING TRAILS
• GREEN SPACE

Property features AI

Finance

• Other: Separate gas and electric meters for each unit (2 of each)
• Financial info: Operating expenses include insurance, trash, utilities, and water/sewer

Exterior

• Parking: Detached or on-site garage with 2 garage spaces; Concrete parking surface
• Utilities: Electricity connected; Public water connected; Sewer connected
• Home design: Two-story building; Multifamily (2 units); Resale property
• Construction: Composite and vinyl siding; Architectural shingle roof; Stone foundation; Existing (previously built)
• Exterior features: Fully fenced lot; Balcony; Covered and open porch; Near public transit; Rectangular residential lot with city street frontage

Interior

• Kitchen: Unit 1: Oven/range, refrigerator; Unit 2: Dishwasher, oven/range, refrigerator, microwave; Eat-in kitchens and dining areas connected to living rooms
• Bedrooms: Two 3-bedroom units (each unit has 3 bedrooms)
• Flooring: Combination of hardwood, carpet, laminate and vinyl (varies by area)
• Bathrooms: Each unit has 1 full bathroom (2 full bathrooms total)
• Heating & cooling: Gas-fired forced air heating; Gas water heater
• Interior features: Full basement; Fireplace (1); Balcony; Covered and open porch areas
• Laundry & utility: Unit 1: Washer and dryer; Unit 2: (no washer/dryer explicitly listed)

What this means for you Summary

Snapshot

• This is a 6-bed/2.0-bath multifamily listed at $260k. Condition is rated good.

Deal economics

• At list price, monthly cash flow is $426 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $260k).

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 (+12.7%/yr); 94 active listings in the ZIP; 1,244 units permitted in Erie County in 2024 (563 in 5+ unit buildings).
• At $2,813/mo this rent would consume 62% of the median local household income ($54k/yr) (locally 959% 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 $28k of equity ($2k loan paydown + $26k appreciation (10.0% local appreciation)).
• At projected returns (10.0% appreciation + 8.0% rent growth), your $73k cash investment doubles in ~3 years — after that, you're playing with house money.
• By year 2, paydown + projected appreciation supports a ~$45k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• Only 9 days on market — expect competitive offers; lowballing is unlikely to land.
• 2 sale attempts since 2y ago with the ask held roughly flat each time — persistent listings suggest the price (not the market) is what's stuck; bring a comps-based counter.

Risks & watch-outs

• Watch-outs: built in 1900 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $259,900

Questions for the listing agent

1. Built in 1900 — 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: 1.08% ✓
• Cap rate: 8.26%
• Cash-on-cash: 7.03%
• DSCR: 1.31
• GRM: 7.7

CMA / ARV

• ARV (on-the-fly): $238,710
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
71 Buffum St	0.21mi	5/2.0 (-1)	2,136 (-2%)	6mo	$160,000	$75	76
26 Kamper Ave	0.31mi	6/2.0	2,394 (+9%)	3mo	$179,000	$75	68
389 Cumberland Ave	0.29mi	5/2.0 (-1)	2,328 (+6%)	5mo	$280,000	$120	67
154 Chamberlin Dr	0.56mi	5/2.0 (-1)	2,182 (-0%)	2mo	$242,400	$111	66
42 Mineral Spring Rd	0.57mi	6/2.0	2,278 (+4%)	0mo	$300,000	$132	66
30 Chamberlin Dr	0.54mi	5/2.0 (-1)	2,208 (+1%)	5mo	$239,800	$109	64
32 Magnolia Ave	0.48mi	6/2.0	2,376 (+8%)	5mo	$225,000	$95	59
132 Edson St	0.40mi	7/3.0 (+1)	2,480 (+13%)	2mo	$210,000	$85	49
18 Stephenson Ave	0.72mi	6/2.0	1,978 (-10%)	2mo	$226,000	$114	48
260 Indian Church Rd	0.56mi	6/2.0	2,488 (+14%)	4mo	$217,000	$87	48
14 Winegar Pl	0.50mi	5/2.5 (-1)	2,469 (+13%)	5mo	$187,000	$76	44
96 Stevenson St	0.62mi	6/2.0	2,496 (+14%)	6mo	$272,096	$109	43

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

Projected returns pro-forma

10.0% appreciation · 8.0% rent growth · sell at horizon

5-year hold

• IRR: 31.5%
• Equity multiple: 3.52×
• Total profit: $183,599
• Equity at exit: $234,139

10-year hold

• IRR: 28.9%
• Equity multiple: 8.64×
• Total profit: $556,238
• Equity at exit: $504,929

Cash invested: $72,772 (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 14210

• Home prices YoY: 13.8%
• Rents YoY: 12.7%
• Active inventory: 94
• Price-to-rent: 15.4×

Monthly cashflow live

• Estimated rent: $2,813 high
• Mortgage (P&I): −$1,363
• Tax est. 1.5%: −$325 /mo · $3,898/yr
• Insurance: −$108
• HOA: −$0
• Vacancy / Maint / Mgmt: −$591
• Net cashflow: $426

Break-even live

Break-even rent $2,274

Max offer price $259,900

Occupancy floor 80%

Sensitivity live

Price	-10% $606	-5% $516	+0% $426	+5% $336	+10% $247
Rent	-10% $204	-5% $315	+0% $426	+5% $537	+10% $648
Rate	-1.0pp $557	-0.5pp $492	base $426	+0.5pp $359	+1.0pp $290

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

Units	Beds	Baths	Est. rent
▸ 2× units	3	1	$2,814
Total (2 units)			$2,813

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: $64,975
• Closing costs: $7,797
• Reserves months: —
• Total cash needed: —

Listing history 8 events

1. 2026-06-18
   days on market $259,900 Active 9 DOM
2. 2026-06-17
   days on market $259,900 Active 8 DOM
3. 2026-06-16
   days on market $259,900 Active 7 DOM
4. 2026-06-15
   days on market $259,900 Active 6 DOM
5. 2026-06-13
   days on market $259,900 Active 4 DOM
6. 2026-06-13
   days on market $259,900 Active 3 DOM
7. 2026-06-10
   remarks 699-char remark
8. 2026-06-10
   listed $259,900 Active 1 DOM

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

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 ≥92°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: $33,756
• − Mortgage interest: −$14,558
• − Property taxes: −$3,898
• − Insurance: −$1,300
• − Repairs & maintenance: −$2,700
• − Management: −$2,700
• − Depreciation: −$7,561
• Taxable income: $1,038
• Est. tax owed @ 24.0%: −$249
• After-tax cash flow: $4,865/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 · 13 photos

Good 75/100 Cosmetic rehab

This two-unit property is in good condition with tasteful updates throughout, making it a solid investment opportunity.

Value-add opportunities

• Both landscaping — enhances curb appeal and adds value
• Both exterior paint — improves curb appeal and adds value

Renovation cost estimate screening

Value-add ROI direction

• Both landscaping — enhances curb appeal and adds value ↑
• Both exterior paint — improves curb appeal and adds value ↑

ⓘ Cost ranges are severity-bucket heuristics (US national rule-of-thumb). Get contractor quotes + a written scope before underwriting a rehab budget.

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): 15,563
• Household income: $54,197
• Rent vs Own: 53.9% rent · 46.1% own
• Severe rent burden: 959.0

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 (79%)
• Race & ethnicity: White 79% Two or more races 8% Black 8% Hispanic / Latino 7% Asian 1%
• Hispanic origin (detail): Puerto Rican 6%
• Common ancestry: Romanian 21% Lithuanian 2% Serbian 1%
• Foreign-born: 2% · Canada, China
• Languages at home: 95% English-only · Spanish 2% Arabic 1% Other Indo-European 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: ▲ 52.34%
• Current HPI: 431.7951
• Rent YoY: ▲ 12.67%
• 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

+23.8% since first listed

4 events — show timeline

• 2026-06-09 Listed $259,900 WNYREIS
• 2024-12-17 Sold (MLS) $240,000 WNYREIS
• 2024-10-22 Pending — WNYREIS
• 2024-10-14 Listed $209,900 WNYREIS