86 Garner Ave · Buffalo, NY 14213

$197,500

4 bd · 2.0 ba · 1,496 sqft · MultiFamily public records · 36 Days on market

Built 1900 3,484 sqft lot $132/sqft · 39% below area Est $325k · 39% 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 +21.6/30.0
• ARV discount +15.0/15.0
• Appreciation +8.8/10.0
• DSCR +6.9/10.0
• 1% rule +4.3/10.0
• Livability +3.9/5.0
• Schools +3.3/10.0
• Condition / age +2.5/5.0
• Rent growth +2.4/5.0

Multi-family units

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

Listing remarks MLS

Lovely, newly renovated, West Side, single family home with four bedrooms, new kitchen and two full baths. This home has all the charm of an older home with all the modern amenities including; new kitchen cabinets, new ceramic kitchen floor, granite countertops, new fixtures, refinished hardwood floors, fresh paint throughout and much more.

Key facts

• Large front porch
• Flex space
• Freshly painted

Tags

• PRIVATE ONE WAY STREET
• FLEX SPACE
• FRESHLY PAINTED
• LARGE FRONT PORCH
• FULLY FENCED DEEP BACKYARD
• LOADS OF STORAGE

Property features AI

Exterior

• Parking: No garage; No driveway
• Utilities: Public water connected; Sewer connected; Circuit breaker electric
• Home design: Two-story single-family residence; Existing structure; Rectangular residential lot with city street frontage; Lot dimensions approximately 28 x 119
• Construction: Wood siding; Copper plumbing; Asphalt roof; Stone foundation; Built as existing (year built: existing)
• Exterior features: Fully fenced yard; Open porch

Interior

• Kitchen: Gas oven and gas range; Microwave; Refrigerator; Solid surface counters
• Bedrooms: Four bedrooms total, including one main-level bedroom; Three bedrooms on the second level
• Flooring: Hardwood; Ceramic tile; Varies
• Bathrooms: Two full bathrooms total, one on the main level
• Heating & cooling: Gas heating; Forced air
• Interior features: Leaded glass windows; Separate/formal living room; Separate/formal dining room; Solid surface counters; Convertible bedroom; Primary bedroom with bath; Has full basement with sump pump; One fireplace
• Laundry & utility: Washer; Dryer; Gas water heater

What this means for you Summary

Snapshot

• This is a 4-bed/2.0-bath multifamily listed at $198k.

Deal economics

• At list price, monthly cash flow is $302 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $184k (6.9% below list).
• Recommended offer: $184k (6.9% below list) — sets the bar for 1% rule.

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 soft (-0.5%/yr); 137 active listings in the ZIP; 29 comparable units currently listed for rent nearby; rentals at typical pace (median 24d on market — plan ~3-4 weeks tenant-placement turnaround); 1,244 units permitted in Erie County in 2024 (563 in 5+ unit buildings).
• This rent runs 41% of the median local income ($54k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Forward outlook

• In year one you build about $16k of equity ($1k loan paydown + $15k appreciation (7.5% local appreciation)).
• At projected returns (7.5% appreciation + 0.0% rent growth), your $55k cash investment doubles in ~3 years — after that, you're playing with house money.
• By year 3, paydown + projected appreciation supports a ~$40k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 36 days — a 3% lower offer ($192k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts since 13y 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.
• Current owner paid $90k; list at $198k implies a 120% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

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

Recommended offer $183,880 (6.9% below list)

Questions for the listing agent

1. It's been on market 36 days. Have you received any prior offers? Is the seller open to a 7% concession, seller financing, or rate buy-down credit?
2. Built in 1900 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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?
5. 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.
6. 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.
7. 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: 0.93% ✗
• Cap rate: 8.13%
• Cash-on-cash: 6.55%
• DSCR: 1.29
• GRM: 9.0

CMA / ARV

• ARV (median comp): $325,058
• List price: $197,500
• Delta: -39.24%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 3 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
276 Potomac Ave	0.14mi	4/2.0	1,674 (+12%)	4mo	$167,000	$100	70
73 Baynes St	0.61mi	4/2.0	1,698 (+14%)	6mo	$199,900	$118	44
319 Breckenridge St	0.59mi	3/2.0 (-1)	1,632 (+9%)	22mo	$159,900	$98	34

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

Projected returns pro-forma

7.51% appreciation · 0.0% rent growth · sell at horizon

5-year hold

• IRR: 22.8%
• Equity multiple: 2.61×
• Total profit: $88,959
• Equity at exit: $143,538

10-year hold

• IRR: 20.1%
• Equity multiple: 5.23×
• Total profit: $233,708
• Equity at exit: $278,928

Cash invested: $55,300 (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 14213

• Home prices YoY: 1.7%
• Rents YoY: -0.5%
• Active inventory: 137
• Price-to-rent: 9.0×

Monthly cashflow live

• Estimated rent: $1,839 high
• Mortgage (P&I): −$1,036
• Tax from tax record: −$33 /mo · $396/yr
• Insurance: −$82
• HOA: −$0
• Vacancy / Maint / Mgmt: −$386
• Net cashflow: $302

Break-even live

Break-even rent $1,457

Max offer price $197,500

Occupancy floor 79%

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: $49,375
• Closing costs: $5,925
• Reserves months: —
• Total cash needed: —

Rent comps 29 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
305 Bird Ave Unit 3 Buffalo, NY	3.0	1.5	1128	$2,300	$2.04	43d	1	0.18mi
309 Bird Ave Unit 1 Buffalo, NY	3.0	1.0	1100	$2,200	$2.00	43d	1	0.19mi
232 Dewitt St Buffalo, NY	3.0	1.0	1200	$1,300	$1.08	23d	1	0.24mi
163 W Delavan Ave Buffalo, NY	3.0	1.0	1000	$1,500	$1.50	23d	1	0.25mi
311 Herkimer St #1 Buffalo, NY	3.0	1.0	1272	$1,400	$1.10	14d	1	0.26mi
100 Forest Ave Buffalo, NY	2.0–4.0	2.0–4.0	1304	$2,560	$1.96	1d	14	0.30mi
374 Baynes St Buffalo, NY	3.0	1.0	1126	$1,550	$1.38	43d	1	0.31mi
37 Abbottsford Pl Buffalo, NY	3.0	1.0	1130	$1,650	$1.46	43d	1	0.42mi
196 Auburn Ave Buffalo, NY	3.0	1.0	1000	$1,300	$1.30	43d	1	0.45mi
891 Richmond Ave Buffalo, NY	3.0	1.0	1176	$1,800	$1.53	43d	1	0.56mi
40 Putnam St Buffalo, NY	4.0	1.0	1600	$2,100	$1.31	23d	1	0.58mi
478 Breckenridge St Buffalo, NY	3.0	1.0	1100	$1,575	$1.43	43d	1	0.65mi
67 Herkimer St Buffalo, NY	3.0	1.0	1000	$1,300	$1.30	14d	1	0.73mi
375 Hampshire St Buffalo, NY	3.0	1.0	1200	$1,100	$0.92	43d	1	0.73mi
310 Hampshire St Apt 3 Buffalo, NY	3.0	1.0	1200	$1,500	$1.25	43d	1	0.77mi
685 Auburn Ave Unit 2 Buffalo, NY	3.0	1.0	1200	$1,750	$1.46	14d	1	0.92mi
62 Germain St Buffalo, NY	3.0	1.0	1320	$1,250	$0.95	23d	1	0.98mi
1560 Delaware Ave Unit 1 Buffalo, NY	3.0	1.0	1000	$2,800	$2.80	23d	1	1.17mi
161 16th St Buffalo, NY	3.0	1.5	1500	$2,000	$1.33	23d	1	1.17mi
825 Forest Ave Unit 1 Buffalo, NY	3.0	1.0	1200	$1,700	$1.42	3d	1	1.17mi
825 Forest Ave Buffalo, NY	3.0	1.0	1200	$2,000	$1.67	23d	1	1.17mi
139 Fordham Dr Buffalo, NY	3.0	1.0	1453	$1,700	$1.17	23d	1	1.17mi
72 Reservation St Unit 2 Buffalo, NY	3.0	1.0	950	$1,150	$1.21	23d	1	1.19mi
118 Ashland Ave Buffalo, NY	3.0	1.0	1326	$1,850	$1.40	14d	1	1.31mi
238 Oxford Ave Unit Upper Buffalo, NY	3.0	1.0	1100	$1,600	$1.45	23d	1	1.38mi
31 Norwood Ave Unit 2 Buffalo, NY	3.0	1.0	1000	$1,950	$1.95	11d	1	1.45mi
88 W Utica St Unit 1 Buffalo, NY	3.0	2.0	990	$2,150	$2.17	3d	1	1.46mi
88 W Utica St Unit 1 Buffalo, NY	3.0	2.0	990	$2,150	$2.17	14d	1	1.46mi
124 Normal Ave Unit 2 Buffalo, NY	3.0	1.0	1727	$2,000	$1.16	23d	1	1.48mi

Listing history 15 events

1. 2026-06-02
   days on market $197,500 Active 36 DOM
2. 2026-06-01
   days on market $197,500 Active 35 DOM
3. 2026-05-31
   days on market $197,500 Active 34 DOM
4. 2026-04-27
   listed $197,500 Active 790-char remark
5. 2025-11-24
   price $205,000
6. 2025-10-30
   price $207,500
7. 2025-10-17
   listed $209,900 Active
8. 2015-12-29
   soldstatus $89,900 Closed Sale or Rented

   Show marketing remark (342 chars)

   Lovely, newly renovated, West Side, single family home with four bedrooms, new kitchen and two full baths. This home has all the charm of an older home with all the modern amenities including; new kitchen cabinets, new ceramic kitchen floor, granite countertops, new fixtures, refinished hardwood floors, fresh paint throughout and much more.

9. 2015-12-29
   soldstatus $89,900

   Show marketing remark (342 chars)

   Lovely, newly renovated, West Side, single family home with four bedrooms, new kitchen and two full baths. This home has all the charm of an older home with all the modern amenities including; new kitchen cabinets, new ceramic kitchen floor, granite countertops, new fixtures, refinished hardwood floors, fresh paint throughout and much more.

10. 2015-10-19
    status Pending Sale

    Show marketing remark (342 chars)

    Lovely, newly renovated, West Side, single family home with four bedrooms, new kitchen and two full baths. This home has all the charm of an older home with all the modern amenities including; new kitchen cabinets, new ceramic kitchen floor, granite countertops, new fixtures, refinished hardwood floors, fresh paint throughout and much more.

11. 2015-10-16
    historical Under Contract- Do Not Show

    Show marketing remark (342 chars)

    Lovely, newly renovated, West Side, single family home with four bedrooms, new kitchen and two full baths. This home has all the charm of an older home with all the modern amenities including; new kitchen cabinets, new ceramic kitchen floor, granite countertops, new fixtures, refinished hardwood floors, fresh paint throughout and much more.

12. 2015-10-15
    listed $89,900 Active

    Show marketing remark (342 chars)

    Lovely, newly renovated, West Side, single family home with four bedrooms, new kitchen and two full baths. This home has all the charm of an older home with all the modern amenities including; new kitchen cabinets, new ceramic kitchen floor, granite countertops, new fixtures, refinished hardwood floors, fresh paint throughout and much more.

13. 2014-10-16
    soldstatus $13,500
14. 2014-10-14
    soldstatus $13,500
15. 2013-08-15
    listed $25,000

ⓘ 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: $396 · $33/mo
• Projected year-2 tax: $1,867 · $156/mo
• Expected delta: +$1,471/yr (+$123/mo · 371.1%)

ⓘ 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 ≥91°F today · 15 d/yr by 30 yrs out
• 💨 Wind 1/10 Low
• 🫁 Air quality 4/10 Moderate 4 unhealthy d/yr today · 9 by 30 yrs out

Taxation est. · year 1

• Rental income: $22,066
• − Mortgage interest: −$11,063
• − Property taxes: −$396
• − Insurance: −$988
• − Repairs & maintenance: −$1,765
• − Management: −$1,765
• − Depreciation: −$5,745
• Taxable income: $343
• Est. tax owed @ 24.0%: −$82
• After-tax cash flow: $3,537/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): 24,107
• Household income: $53,870
• Rent vs Own: 60.5% rent · 39.5% own
• Severe rent burden: 1501.0

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: Highly diverse neighborhood (Simpson 0.70)
• Race & ethnicity: White 46% Hispanic / Latino 20% Black 18% Asian 12% Two or more races 10%
• Hispanic origin (detail): Mexican 1% Puerto Rican 16% Dominican 1%
• Common ancestry: Romanian 6% Slovak 3% Lithuanian 3%
• Foreign-born: 16% · Philippines, Canada, India
• Languages at home: 68% English-only · Spanish 12% Other Asian/Pacific 7% Arabic 3%

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: ▲ 7.51%
• Current HPI: 448.4879
• Rent YoY: ▼ -0.49%
• 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

+690.0% since first listed

12 events — show timeline

• 2026-04-27 Listed $197,500 WNYREIS
• 2025-11-24 Price Changed $205,000 WNYREIS
• 2025-10-30 Price Changed $207,500 WNYREIS
• 2025-10-17 Listed $209,900 WNYREIS
• 2015-12-29 Sold (Public Records) $89,900 Public Records
• 2015-12-29 Sold (MLS) $89,900 WNYREIS
• 2015-10-19 Pending — WNYREIS
• 2015-10-16 Contingent — WNYREIS
• 2015-10-15 Listed $89,900 WNYREIS
• 2014-10-16 Sold (Public Records) $13,500 Public Records
• 2014-10-14 Sold (MLS) $13,500 WNYREIS
• 2013-08-15 Listed $25,000 WNYREIS

Property tax history

+10.2%/yr

Latest (2025): $396 · -33.3% YoY. Source: county tax records.