7 Milton St · Buffalo, NY 14210

$139,000

6 bd · 2.0 ba · 2,730 sqft · MultiFamily public records · 84 Days on market

Built 1925 7,560 sqft lot $51/sqft · 39% below area Est $226k · 39% under

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Why this score? — see what drove the A 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 +15.0/15.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• Appreciation +10.0/10.0
• Rent growth +5.0/5.0
• Livability +3.9/5.0
• Schools +3.3/10.0
• Condition / age +2.5/5.0

Multi-family units

County records classify this as Multi-Family (2-4 Unit). Listing-text estimate: 2 units. confirmed

Listing remarks MLS

Great price for this spacious fully rented 2-unit property with 2,730 sqft in South Buffalo. Recent mechanical updates were done in 2022 including new electric panels, new water line and sewer line, two newer furnaces, and two newer hot water tanks plus flooring in 2 units, new tiles in bathrooms. Both units offer spacious layouts with strong rental potential. Full attic for extra storage, fully fenced backyard. The property needs some TLC to bring it to its full value, allowing the next owner an opportunity to build equity. Conveniently located near shopping, dining, transportation, Tifft Nature Preserve, Cazenovia Park, Outer Harbor Buffalo, 9 minutes to Buffalo RiverWorks, and easy access to major routes A great investment opportunity or owner occupy.

Key facts

• New water line
• Newer furnaces
• New electric panels

Tags

• RECENT MECHANICAL UPDATES
• NEW ELECTRIC PANELS
• NEW WATER LINE
• NEW SEWER LINE
• NEWER FURNACES
• NEWER HOT WATER TANKS

What this means for you Summary

Snapshot

• This is a 2 × 3-bed/1.0-bath units multifamily listed at $139k.

Deal economics

• At list price, monthly cash flow is $1k ($14k/yr) — positive. Per door: $583/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $139k).
• Recommended offer: $131k (6.0% below list) — sets the bar for market timing.
• Cap rate 16.8% 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 (+12.7%/yr); 94 active listings in the ZIP; 1,244 units permitted in Erie County in 2024 (563 in 5+ unit buildings).
• At $2,761/mo this rent would consume 61% 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 $15k of equity ($961 loan paydown + $14k appreciation (10.0% local appreciation)).
• At projected returns (10.0% appreciation + 8.0% rent growth), your $39k cash investment doubles in ~2 years — after that, you're playing with house money.
• By year 3, paydown + projected appreciation supports a ~$38k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 84 days — a 6% lower offer ($131k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 16y ago; this cycle's ask has dropped $11k (7%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $70k; list at $139k implies a 99% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: flood insurance adds $56/mo; built in 1925 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: major flood risk — expect insurance premiums to compound above CPI over the hold.

Recommended offer $130,659 (6.0% below list)

Questions for the listing agent

1. It's been on market 84 days. Have you received any prior offers? Is the seller open to a 6% 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 1925 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
5. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
6. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
7. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
8. 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?
9. 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.
10. 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.
11. 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: 1.99% ✓
• Cap rate: 16.83%
• Cash-on-cash: 37.63%
• DSCR: 2.67
• GRM: 4.2

CMA / ARV

• ARV (median comp): $226,212
• List price: $139,000
• Delta: -38.55%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 8 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
209 Babcock St	0.17mi	6/2.0	2,612 (-4%)	18mo	$125,000	$48	69
1315 Seneca St	0.05mi	7/4.0 (+1)	2,816 (+3%)	12mo	$250,000	$89	69
110 Milton St	0.14mi	6/2.0	2,484 (-9%)	22mo	$160,000	$64	60
43 Fillmore Ave	0.75mi	6/2.0	2,492 (-9%)	8mo	$185,500	$74	44
37 Fillmore Ave	0.75mi	6/2.0	2,680 (-2%)	23mo	$130,000	$49	43
116 Baitz Ave	0.52mi	6/2.0	2,445 (-10%)	21mo	$185,000	$76	41
72 Heussy Ave	0.74mi	6/2.0	2,350 (-14%)	14mo	$200,000	$85	31
1704 Seneca St	0.74mi	6/2.0	2,328 (-15%)	20mo	$166,000	$71	24

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: 55.3%
• Equity multiple: 5.23×
• Total profit: $164,573
• Equity at exit: $125,222

10-year hold

• IRR: 51.0%
• Equity multiple: 12.89×
• Total profit: $462,586
• Equity at exit: $270,046

Cash invested: $38,920 (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: 8.4×

Monthly cashflow live

• Estimated rent: $2,761 high
• Mortgage (P&I): −$729
• Tax est. 1.5%: −$174 /mo · $2,085/yr
• Insurance: −$58
• Flood insurance flood zone: −$56 /mo · $666/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$580
• Net cashflow: $1,165

Break-even live

Break-even rent $1,286

Max offer price $139,000

Occupancy floor 53%

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

Units	Beds	Baths	Est. rent
▸ 2× units	3	1	$2,760
Total (2 units)			$2,761

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: $34,750
• Closing costs: $4,170
• Reserves months: —
• Total cash needed: —

Listing history 20 events

1. 2026-06-18
   days on market $139,000 Active 84 DOM
2. 2026-06-17
   days on market $139,000 Active 83 DOM
3. 2026-06-16
   days on market $139,000 Active 82 DOM
4. 2026-06-15
   days on market $139,000 Active 81 DOM
5. 2026-06-13
   days on market $139,000 Active 79 DOM
6. 2026-06-13
   days on market $139,000 Active 78 DOM
7. 2026-06-10
   days on market $139,000 Active 76 DOM
8. 2026-06-09
   days on market $139,000 Active 75 DOM
9. 2026-06-08
   days on market $139,000 Active 74 DOM
10. 2026-06-07
    days on market $139,000 Active 73 DOM
11. 2026-06-03
    days on market $139,000 Active 69 DOM
12. 2026-06-02
    days on market $139,000 Active 68 DOM
13. 2026-06-01
    days on market $139,000 Active 67 DOM
14. 2026-05-31
    days on market $139,000 Active 66 DOM
15. 2026-05-15
    price $139,000 764-char remark

    Show marketing remark (764 chars)

    Great price for this spacious fully rented 2-unit property with 2,730 sqft in South Buffalo. Recent mechanical updates were done in 2022 including new electric panels, new water line and sewer line, two newer furnaces, and two newer hot water tanks plus flooring in 2 units, new tiles in bathrooms. Both units offer spacious layouts with strong rental potential. Full attic for extra storage, fully fenced backyard. The property needs some TLC to bring it to its full value, allowing the next owner an opportunity to build equity. Conveniently located near shopping, dining, transportation, Tifft Nature Preserve, Cazenovia Park, Outer Harbor Buffalo, 9 minutes to Buffalo RiverWorks, and easy access to major routes A great investment opportunity or owner occupy.

16. 2026-03-25
    listed $149,900 Active 764-char remark

    Show marketing remark (764 chars)

    Great price for this spacious fully rented 2-unit property with 2,730 sqft in South Buffalo. Recent mechanical updates were done in 2022 including new electric panels, new water line and sewer line, two newer furnaces, and two newer hot water tanks plus flooring in 2 units, new tiles in bathrooms. Both units offer spacious layouts with strong rental potential. Full attic for extra storage, fully fenced backyard. The property needs some TLC to bring it to its full value, allowing the next owner an opportunity to build equity. Conveniently located near shopping, dining, transportation, Tifft Nature Preserve, Cazenovia Park, Outer Harbor Buffalo, 9 minutes to Buffalo RiverWorks, and easy access to major routes A great investment opportunity or owner occupy.

17. 2021-09-24
    soldstatus $70,000
18. 2017-10-06
    soldstatus $30,000
19. 2011-01-14
    soldstatus $4,500 562-char remark

    Show marketing remark (562 chars)

    3/2 double. Property is being sold "As Is. " Buyer to determine condition of mechanics. Cash buyers & investors need 10% of purchase price or minimum $1000 as earnest deposit. Investors must agree to 3 month deed restriction. Buyer responsible for discovering any & all municipality, utility, etc. , violation or reports. No search or survey provided. Close by 12/31/2010 & receive up to 3.5% in cosing cost assistance! Eligibility restrictions apply. Incentive to owner occupied buyers only. Owner occupied bids only until 11/3/2010.

20. 2010-10-19
    listed $5,200 562-char remark

    Show marketing remark (562 chars)

    3/2 double. Property is being sold "As Is. " Buyer to determine condition of mechanics. Cash buyers & investors need 10% of purchase price or minimum $1000 as earnest deposit. Investors must agree to 3 month deed restriction. Buyer responsible for discovering any & all municipality, utility, etc. , violation or reports. No search or survey provided. Close by 12/31/2010 & receive up to 3.5% in cosing cost assistance! Eligibility restrictions apply. Incentive to owner occupied buyers only. Owner occupied bids only until 11/3/2010.

ⓘ 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 7/10 Severe FEMA zone X (unshaded) · 59% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 2/10 Low 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: $33,132
• − Mortgage interest: −$7,786
• − Property taxes: −$2,085
• − Insurance: −$1,362
• − Repairs & maintenance: −$2,651
• − Management: −$2,651
• − Depreciation: −$4,044
• Taxable income: $12,555
• Est. tax owed @ 24.0%: −$3,013
• After-tax cash flow: $10,968/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): 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

+2573.1% since first listed

6 events — show timeline

• 2026-05-15 Price Changed $139,000 WNYREIS
• 2026-03-25 Listed $149,900 WNYREIS
• 2021-09-24 Sold (Public Records) $70,000 Public Records
• 2017-10-06 Sold (Public Records) $30,000 Public Records
• 2011-01-14 Sold (MLS) $4,500 WNYREIS
• 2010-10-19 Listed $5,200 WNYREIS

Property tax history

+1.6%/yr

Latest (2025): $219 · +0.0% YoY. Source: county tax records.