340 Gold St · Buffalo, NY 14206

$179,900

4 bd · 1.5 ba · 1,534 sqft · SingleFamily public records · 94 Days on market

Built 1920 4,020 sqft lot $117/sqft · 11% below area Est $202k · 11% under

---

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 +12.9/30.0
• ARV discount +12.3/15.0
• Appreciation +9.0/10.0
• DSCR +3.9/10.0
• Livability +3.9/5.0
• 1% rule +3.7/10.0
• Schools +3.3/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0

Listing remarks MLS

Great investment property or owner occupy in the desirable Lovejoy area in Buffalo! This home features 5 spacious bedrooms with 1 full bath, living room, family room, formal dining room, kitchen and first floor laundry. All rooms are very generous room sizes. The full basement with newer furnace and hot water tank, and attic provide plenty of space for storage. The exterior features a covered porch and shed. Don’t miss out on this great opportunity to make this yours!

Key facts

• Covered porch
• Hot water tank
• Attic

Tags

• FULL BASEMENT
• COVERED PORCH
• FIRST FLOOR LAUNDRY
• NEWER FURNACE
• HOT WATER TANK
• ATTIC

What this means for you Summary

Snapshot

• This is a 4-bed/1.5-bath single-family listed at $180k.

Deal economics

• At list price, monthly cash flow is $-12 ($-138/yr) — negative.
• To cash-flow at today's rent, offer at most $178k (0.9% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $156k (13.3% below list).
• Recommended offer: $156k (13.3% below list) — sets the bar for 1% rule.
• Cap rate 6.2% vs local median 8.0% in Buffalo — below-typical yield; the buyer is paying a premium for something (appreciation thesis, condition, location) that the cap rate doesn't capture.

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: 169 active listings in the ZIP; 10 comparable units currently listed for rent nearby; rentals at typical pace (median 20d 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 37% of the median local income ($50k/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 + $14k appreciation (8.1% local appreciation)).
• At projected returns (8.1% appreciation + 3.0% rent growth), your $50k cash investment doubles in ~3 years — after that, you're playing with house money.
• By year 3, paydown + projected appreciation supports a ~$39k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 94 days — a 9% lower offer ($164k) is reasonable based on typical stale-listing flexibility.
• 4 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 1920 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $155,914 (13.3% below list)

Questions for the listing agent

1. What do current leases actually rent for vs. the listed asking? Can we see a recent rent roll and the last 12 months of T-12 income?
2. It's been on market 94 days. Have you received any prior offers? Is the seller open to a 13% concession, seller financing, or rate buy-down credit?
3. Built in 1920 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
4. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
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 for-sale + rental construction is in the pipeline within 1–3 miles? Heavy new supply typically softens prices + rents 12–24 months out; constrained supply supports both.

Investment metrics

• 1% rule: 0.87% ✗
• Cap rate: 6.22%
• Cash-on-cash: -0.27%
• DSCR: 0.99
• GRM: 9.6

CMA / ARV

• ARV (median comp): $201,555
• List price: $179,900
• Delta: -10.74%
• 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
433 Benzinger St	0.18mi	5/1.5 (+1)	1,476 (-4%)	6mo	$170,000	$115	75
441 Schiller St	0.29mi	4/2.0	1,478 (-4%)	5mo	$145,000	$98	74
138 Wagner Ave	0.35mi	4/2.0	1,487 (-3%)	7mo	$220,000	$148	70
307 Benzinger St	0.07mi	3/3.0 (-1)	1,363 (-11%)	2mo	$247,000	$181	65
107 Stanley St	0.28mi	4/1.0	1,401 (-9%)	7mo	$190,000	$136	64
365 Atlantic Ave	0.48mi	4/1.0	1,701 (+11%)	0mo	$146,250	$86	57
16 Regent St	0.46mi	3/1.0 (-1)	1,604 (+5%)	8mo	$115,000	$72	57
129 Schiller St	0.45mi	4/1.0	1,328 (-13%)	7mo	$179,900	$135	49
57 N Ogden St	0.56mi	3/2.0 (-1)	1,350 (-12%)	1mo	$120,000	$89	46
42 Hennepin St	0.56mi	3/1.0 (-1)	1,733 (+13%)	3mo	$220,000	$127	43
43 Ludington St	0.62mi	3/2.0 (-1)	1,364 (-11%)	8mo	$90,000	$66	39
133 Halstead Ave Ave	0.58mi	3/1.0 (-1)	1,320 (-14%)	5mo	$235,000	$178	39

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

Projected returns pro-forma

8.06% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 19.9%
• Equity multiple: 2.47×
• Total profit: $74,070
• Equity at exit: $137,390

10-year hold

• IRR: 18.5%
• Equity multiple: 5.28×
• Total profit: $215,524
• Equity at exit: $273,402

Cash invested: $50,372 (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 14206

• Home prices YoY: 1.8%
• Active inventory: 169
• Price-to-rent: 9.6×

Monthly cashflow live

• Estimated rent: $1,559 high
• Mortgage (P&I): −$943
• Tax est. 1.5%: −$225 /mo · $2,698/yr
• Insurance: −$75
• HOA: −$0
• Vacancy / Maint / Mgmt: −$327
• Net cashflow: $-12

Break-even live

Break-even rent $1,574

Max offer price $178,232

Occupancy floor 96%

Sensitivity live

Price	-10% $113	-5% $51	+0% $-12	+5% $-74	+10% $-136
Rent	-10% $-135	-5% $-73	+0% $-12	+5% $50	+10% $112
Rate	-1.0pp $79	-0.5pp $34	base $-12	+0.5pp $-58	+1.0pp $-106

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: $44,975
• Closing costs: $5,397
• Reserves months: —
• Total cash needed: —

Rent comps 10 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1777 Broadway Unit 2 Buffalo, NY	3.0	1.0	1300	$1,200	$0.92	44d	1	0.31mi
1150 Bailey Ave Buffalo, NY	4.0	1.5	1100	$1,200	$1.09	24d	1	0.75mi
979 Walden Ave Buffalo, NY	4.0	3.0	1793	$2,000	$1.12	2d	1	0.91mi
14 Rutland Ave Buffalo, NY	4.0	1.0	1430	$2,200	$1.54	11d	1	0.99mi
96 Academy Rd Buffalo, NY	3.0	1.0	2247	$1,400	$0.62	24d	1	1.01mi
24 Euclid Ave Buffalo, NY	3.0	2.0	1150	$1,700	$1.48	44d	1	1.03mi
1202 Walden Ave Unit 3 Buffalo, NY	3.0	1.0	1500	$1,400	$0.93	17d	1	1.16mi
517 Goodyear Ave Buffalo, NY	3.0	1.0	1559	$1,800	$1.15	19d	1	1.42mi
143 Reo Ave Buffalo, NY	3.0	2.0	1143	$1,600	$1.40	12d	1	1.48mi
65 Domedion Ave Buffalo, NY	3.0	1.0	1632	$1,500	$0.92	2d	1	1.49mi

Listing history 26 events

1. 2026-06-18
   days on market $179,900 Active 94 DOM
2. 2026-06-17
   days on market $179,900 Active 93 DOM
3. 2026-06-16
   days on market $179,900 Active 92 DOM
4. 2026-06-15
   days on market $179,900 Active 91 DOM
5. 2026-06-13
   days on market $179,900 Active 89 DOM
6. 2026-06-13
   days on market $179,900 Active 88 DOM
7. 2026-06-10
   days on market $179,900 Active 86 DOM
8. 2026-06-09
   days on market $179,900 Active 85 DOM
9. 2026-06-08
   days on market $179,900 Active 84 DOM
10. 2026-06-07
    days on market $179,900 Active 83 DOM
11. 2026-06-03
    days on market $179,900 Active 79 DOM
12. 2026-06-02
    days on market $179,900 Active 78 DOM
13. 2026-06-01
    days on market $179,900 Active 77 DOM
14. 2026-05-31
    days on market $179,900 Active 76 DOM
15. 2026-03-16
    listed $179,900 Active 478-char remark

    Show marketing remark (478 chars)

    Great investment property or owner occupy in the desirable Lovejoy area in Buffalo! This home features 5 spacious bedrooms with 1 full bath, living room, family room, formal dining room, kitchen and first floor laundry. All rooms are very generous room sizes. The full basement with newer furnace and hot water tank, and attic provide plenty of space for storage. The exterior features a covered porch and shed. Don’t miss out on this great opportunity to make this yours!

16. 2026-01-31
    historical
17. 2025-07-15
    listed $169,000 Active
18. 2025-07-13
    historical
19. 2025-02-16
    price $169,000
20. 2025-01-13
    listed $170,000 Active
21. 2025-01-13
    historical
22. 2024-11-08
    price $170,000
23. 2024-10-07
    price $175,000
24. 2024-10-07
    price $174,000
25. 2024-09-17
    price $178,000
26. 2024-08-05
    listed $179,000 Active

ⓘ 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: $18,710
• − Mortgage interest: −$10,077
• − Property taxes: −$2,698
• − Insurance: −$900
• − Repairs & maintenance: −$1,497
• − Management: −$1,497
• − Depreciation: −$5,233
• Taxable loss: −$3,193
• Est. tax savings @ 24.0%: +$766
• After-tax cash flow: $628/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): 21,631
• Household income: $50,450
• Rent vs Own: 39.3% rent · 60.7% own
• Severe rent burden: 841.0

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: Majority White (65%)
• Race & ethnicity: White 65% Hispanic / Latino 13% Black 12% Two or more races 8% Asian 4%
• Hispanic origin (detail): Mexican 2% Puerto Rican 10%
• Common ancestry: Romanian 25% Lithuanian 1% Italian 1%
• Foreign-born: 6% · Canada, China
• Languages at home: 88% English-only · Spanish 5% Other Indo-European 3% Arabic 2%

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: ▲ 8.06%
• Current HPI: 457.3935
• Rent YoY: —
• 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

+0.5% since first listed

12 events — show timeline

• 2026-03-16 Listed $179,900 WNYREIS
• 2026-01-31 Listing Removed — WNYREIS
• 2025-07-15 Listed $169,000 WNYREIS
• 2025-07-13 Listing Removed — WNYREIS
• 2025-02-16 Price Changed $169,000 WNYREIS
• 2025-01-13 Listing Removed — WNYREIS
• 2025-01-13 Listed $170,000 WNYREIS
• 2024-11-08 Price Changed $170,000 WNYREIS
• 2024-10-07 Price Changed $175,000 WNYREIS
• 2024-10-07 Price Changed $174,000 WNYREIS
• 2024-09-17 Price Changed $178,000 WNYREIS
• 2024-08-05 Listed $179,000 WNYREIS

Property tax history

+1.9%/yr

Latest (2025): $319 · +0.0% YoY. Source: county tax records.