442 Schiller St · Buffalo, NY 14212

$200,000

4 bd · 2.0 ba · 1,777 sqft · MultiFamily public records · 20 Days on market

Built 1900 3,870 sqft lot Est $151k · 32% over

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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 +21.4/30.0
• Appreciation +10.0/10.0
• DSCR +6.8/10.0
• 1% rule +5.6/10.0
• Livability +3.9/5.0
• Schools +3.3/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• ARV discount +0.0/15.0

Multi-family units

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

Listing remarks

Looking for a fantastic income-producing opportunity? This 2-unit duplex in a cozy Buffalo neighborhood is packed with potential! Each unit features 2 bedrooms and 1 full bathroom, making it perfect for owner-occupants or savvy investors. Unit 1 offers a bright open kitchen layout, spacious bathroom, and access to a finished attic area — ideal for a home office, extra storage, or future expansion possibilities. Unit 2 features a functional kitchen, comfortable living space, and two generously sized bedrooms. Both units include washer and dryer hookups, and appliances are included for added convenience. Outside, you’ll find a detached garage plus additional storage space behind t

Key facts

• Finished attic area
• Detached garage
• 3,870 sq ft lot

Tags

• FINISHED ATTIC AREA
• DETACHED GARAGE
• ADDITIONAL STORAGE SPACE

Property features AI

Finance

• Financial info: Operating expenses include electric; Owner pays grounds care and snow removal; Rent includes gardener and snow removal; One unit currently rented for $450/month (month-to-month lease through June 30, 2026); Property contains 2 total units (part of a 4-unit community) and has separate gas and electric meters for each unit

Exterior

• Parking: Garage (1 space); Paved parking; Two or more parking spaces
• Utilities: Public water connected; Sewer connected
• Home design: Single-story building; Resale property; Shingle roof; Vinyl siding
• Construction: Vinyl siding construction; Shingle roof; Crawl space foundation; Originally existing (year built details: existing)
• Exterior features: Deck; Rectangular residential lot; City street frontage

Interior

• Kitchen: Eat-in kitchen; Oven/range; Refrigerator; Microwave (in one unit)
• Bedrooms: Two-bedroom unit (one of the units listed as 2 bedrooms)
• Flooring: Carpet; Laminate; Varies
• Bathrooms: Two full bathrooms total (building information shows 2 full bathrooms)
• Heating & cooling: Gas heating; Forced air heating
• Interior features: Ceiling fan(s)
• Laundry & utility: Washer; Dryer; Gas water heater

What this means for you Summary

Snapshot

• This is a 2 × 2-bed/1.0-bath units multifamily listed at $200k.

Deal economics

• At list price, monthly cash flow is $296 ($4k/yr) — positive. Per door: $148/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $200k).
• Recommended offer: $197k (1.5% below list) — sets the bar for market timing.

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: 84 active listings in the ZIP; 7 comparable units currently listed for rent nearby; rentals at typical pace (median 19d on market — plan ~3-4 weeks tenant-placement turnaround); 1,244 units permitted in Erie County in 2024 (563 in 5+ unit buildings).

Forward outlook

• In year one you build about $21k of equity ($1k loan paydown + $20k appreciation (10.0% local appreciation)).
• At projected returns (10.0% appreciation + 3.0% rent growth), your $56k cash investment doubles in ~3 years — after that, you're playing with house money.
• By year 2, paydown + projected appreciation supports a ~$34k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 20 days — a 2% lower offer ($197k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

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

Recommended offer $197,000 (1.5% below list)

Questions for the listing agent

1. Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
2. What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
3. Built in 1900 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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?
6. 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.
7. 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.
8. 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: 1.06% ✓
• Cap rate: 8.07%
• Cash-on-cash: 6.34%
• DSCR: 1.28
• GRM: 7.8

CMA / ARV

• ARV (on-the-fly): $151,045
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
362 Davey St	0.20mi	5/2.0 (+1)	1,640 (-8%)	2mo	$92,000	$56	71
350 Davey St	0.22mi	4/2.0	1,904 (+7%)	14mo	$265,500	$139	66
238 Schiller St	0.38mi	4/2.0	1,894 (+7%)	12mo	$145,000	$77	61
187 Goethe St	0.46mi	4/2.0	1,890 (+6%)	12mo	$77,000	$41	58
427 Benzinger St	0.23mi	4/2.0	2,018 (+14%)	14mo	$172,000	$85	55
108 Moreland St	0.62mi	4/2.0	1,856 (+4%)	12mo	$205,000	$110	54
250 Gold St	0.42mi	5/2.0 (+1)	1,646 (-7%)	12mo	$190,000	$115	53
188 Crocker St	0.65mi	5/2.0 (+1)	1,895 (+7%)	4mo	$227,000	$120	51
1068 E Lovejoy St	0.62mi	3/2.0 (-1)	1,661 (-6%)	7mo	$135,000	$81	50
293 Ludington St	0.69mi	3/2.0 (-1)	1,688 (-5%)	10mo	$205,000	$121	46
125 Gatchell St	0.72mi	4/2.0	1,650 (-7%)	13mo	$80,000	$48	43
115 Greene St	0.74mi	5/3.0 (+1)	1,968 (+11%)	6mo	$165,000	$84	34

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 · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 28.9%
• Equity multiple: 3.28×
• Total profit: $127,797
• Equity at exit: $180,176

10-year hold

• IRR: 25.1%
• Equity multiple: 7.46×
• Total profit: $361,590
• Equity at exit: $388,556

Cash invested: $56,000 (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 14212

• Home prices YoY: 20.4%
• Active inventory: 84
• Price-to-rent: 15.7×

Monthly cashflow live

• Estimated rent: $2,124 high
• Mortgage (P&I): −$1,049
• Tax est. 1.5%: −$250 /mo · $3,000/yr
• Insurance: −$83
• HOA: −$0
• Vacancy / Maint / Mgmt: −$446
• Net cashflow: $296

Break-even live

Break-even rent $1,750

Max offer price $200,000

Occupancy floor 81%

Sensitivity live

Price	-10% $434	-5% $365	+0% $296	+5% $227	+10% $158
Rent	-10% $128	-5% $212	+0% $296	+5% $380	+10% $464
Rate	-1.0pp $397	-0.5pp $347	base $296	+0.5pp $244	+1.0pp $191

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

Units	Beds	Baths	Est. rent
▸ 2× units	2	1	$2,124
Total (2 units)			$2,124

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: $50,000
• Closing costs: $6,000
• Reserves months: —
• Total cash needed: —

Rent comps 7 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	45d	1	0.41mi
979 Walden Ave Buffalo, NY	4.0	3.0	1793	$2,000	$1.12	3d	1	0.67mi
14 Rutland Ave Buffalo, NY	4.0	1.0	1430	$2,200	$1.54	12d	1	0.79mi
96 Academy Rd Buffalo, NY	3.0	1.0	2247	$1,400	$0.62	25d	1	0.85mi
1202 Walden Ave Unit 3 Buffalo, NY	3.0	1.0	1500	$1,400	$0.93	18d	1	0.87mi
65 Domedion Ave Buffalo, NY	3.0	1.0	1632	$1,500	$0.92	3d	1	1.27mi
517 Goodyear Ave Buffalo, NY	3.0	1.0	1559	$1,800	$1.15	20d	1	1.41mi

Listing history 14 events

1. 2026-06-21
   days on market $200,000 Active 20 DOM
2. 2026-06-18
   days on market $200,000 Active 17 DOM
3. 2026-06-17
   days on market $200,000 Active 16 DOM
4. 2026-06-16
   days on market $200,000 Active 15 DOM
5. 2026-06-15
   days on market $200,000 Active 14 DOM
6. 2026-06-13
   days on market $200,000 Active 12 DOM
7. 2026-06-13
   days on market $200,000 Active 11 DOM
8. 2026-06-10
   days on market $200,000 Active 9 DOM
9. 2026-06-09
   days on market $200,000 Active 8 DOM
10. 2026-06-08
    days on market $200,000 Active 7 DOM
11. 2026-06-07
    days on market $200,000 Active 6 DOM
12. 2026-06-03
    days on market $200,000 Active 2 DOM
13. 2026-06-02
    remarks 687-char remark
14. 2026-06-02
    listed $200,000 Active 1 DOM

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

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: $25,488
• − Mortgage interest: −$11,203
• − Property taxes: −$3,000
• − Insurance: −$1,000
• − Repairs & maintenance: −$2,039
• − Management: −$2,039
• − Depreciation: −$5,818
• Taxable income: $389
• Est. tax owed @ 24.0%: −$93
• After-tax cash flow: $3,456/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
• City population: 440,021
• Population (ZIP): 13,603

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 0.75)
• Race & ethnicity: White 32% Black 27% Asian 25% Hispanic / Latino 9% Two or more races 8%
• Hispanic origin (detail): Puerto Rican 8%
• Common ancestry: Romanian 12% Serbian 1% Lithuanian 1%
• Foreign-born: 20% · Philippines, Canada, China
• Languages at home: 68% English-only · Other Indo-European 18% Spanish 4% Other Asian/Pacific 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: ▲ 79.80%
• Current HPI: 471.6399
• Rent YoY: —
• Metro: —
• 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

1 event — show timeline

• 2026-06-01 Listed $200,000 WNYREIS

Property tax history

+2.5%/yr

Latest (2025): $320 · +9.9% YoY. Source: county tax records.