65 Benzinger St · Buffalo, NY 14206

$149,900

3 bd · 1.0 ba · 1,032 sqft · SingleFamily public records · 3 Days on market

Built 1890 4,020 sqft lot Est $181k · 17% under

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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 +15.2/30.0
• ARV discount +15.0/15.0
• Appreciation +9.0/10.0
• DSCR +4.7/10.0
• 1% rule +4.2/10.0
• Livability +3.9/5.0
• Schools +3.3/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0

Listing remarks MLS

Make sure to check out the Interactive Virtual Tour with Floor plan on this completely updated 4 bed; 1212 sq ft 2-story home in Lovejoy. This is not a flip, this house has been updated and lived in by the owners. Roof 2010/2015, AC 2020, Vinyl siding 2013, back deck 2014, huge shed with rock climbing wall 2019, solid hardwood hickory floors. 1st floor laundry. Fully fenced yard.

Key facts

• 4,020 sq ft lot
• Built 1890
• Listed 3 days

Property features AI

Exterior

• Parking: No garage
• Utilities: Public water connected; Sewer connected
• Home design: Single-story; Resale property; Vinyl siding
• Construction: Vinyl siding
• Exterior features: See remarks

Interior

• Kitchen: Gas oven; Gas range; Microwave; Refrigerator
• Bedrooms: 2 main-level bedrooms
• Flooring: Carpet; Hardwood; Vinyl; Varies
• Bathrooms: 1 full bathroom (main level)
• Heating & cooling: Gas heating; Baseboard heating
• Interior features: Separate/formal dining room; Separate/formal living room; Home office; Kitchen island; Storage; Walk-in pantry; Bedroom on main level
• Laundry & utility: Main-level laundry; Gas water heater

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $150k.

Deal economics

• At list price, monthly cash flow is $52 ($627/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 $138k (8.1% below list).
• Recommended offer: $138k (8.1% 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: 169 active listings in the ZIP; 3 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 33% 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 $13k of equity ($1k loan paydown + $12k appreciation (8.1% local appreciation)).
• At projected returns (8.1% appreciation + 3.0% rent growth), your $42k cash investment doubles in ~3 years — after that, you're playing with house money.
• By year 3, paydown + projected appreciation supports a ~$33k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• Only 3 days on market — expect competitive offers; lowballing is unlikely to land.
• 3 sale attempts since 16y 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 1890 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: moderate flood risk — expect insurance premiums to compound above CPI over the hold.

Recommended offer $137,741 (8.1% below list)

Questions for the listing agent

1. Built in 1890 — 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 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: 0.92% ✗
• Cap rate: 6.71%
• Cash-on-cash: 1.49%
• DSCR: 1.07
• GRM: 9.1

CMA / ARV

• ARV (on-the-fly): $180,600
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
29 Bogardus St	0.38mi	3/1.0	1,092 (+6%)	10mo	$150,000	$137	64
302 N Pleasant Pkwy	0.57mi	3/1.0	1,000 (-3%)	7mo	$185,000	$185	62
67 Gold St	0.06mi	3/2.0	1,183 (+15%)	8mo	$103,500	$87	62
74 Vanderbilt St	0.42mi	3/1.0	1,136 (+10%)	3mo	$105,000	$92	62
379 N Ogden St Unit E	0.67mi	3/1.0	1,083 (+5%)	3mo	$160,000	$148	58
105 Regent St	0.38mi	3/2.0	1,138 (+10%)	6mo	$110,000	$97	56
275 N Willowlawn Pkwy	0.67mi	3/1.0	948 (-8%)	2mo	$215,000	$227	54
324 Ideal St	0.50mi	4/2.0 (+1)	1,092 (+6%)	6mo	$195,000	$179	53
31 Central Ave	0.47mi	3/1.0	879 (-15%)	1mo	$35,000	$40	52
391 Greene St	0.65mi	3/1.0	1,144 (+11%)	2mo	$200,000	$175	50
169 Lackawanna Ave	0.74mi	3/1.5	1,116 (+8%)	10mo	$220,000	$197	42
126 Claude Dr	0.74mi	3/1.0	897 (-13%)	10mo	$194,500	$217	35

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: 21.3%
• Equity multiple: 2.56×
• Total profit: $65,658
• Equity at exit: $114,479

10-year hold

• IRR: 19.6%
• Equity multiple: 5.48×
• Total profit: $188,089
• Equity at exit: $227,810

Cash invested: $41,972 (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: 9.1×

Monthly cashflow live

• Estimated rent: $1,377 medium
• Mortgage (P&I): −$786
• Tax est. 1.5%: −$187 /mo · $2,248/yr
• Insurance: −$62
• HOA: −$0
• Vacancy / Maint / Mgmt: −$289
• Net cashflow: $52

Break-even live

Break-even rent $1,311

Max offer price $149,900

Occupancy floor 91%

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: $37,475
• Closing costs: $4,497
• Reserves months: —
• Total cash needed: —

Rent comps 3 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1150 Bailey Ave Buffalo, NY	4.0	1.5	1100	$1,200	$1.09	23d	1	0.44mi
1777 Broadway Unit 2 Buffalo, NY	3.0	1.0	1300	$1,200	$0.92	43d	1	0.73mi
14 Rutland Ave Buffalo, NY	4.0	1.0	1430	$2,200	$1.54	10d	1	1.18mi

Listing history 9 events

1. 2026-04-10
   status Pending
2. 2026-04-07
   listed $149,900 Active
3. 2020-11-20
   soldstatus $140,000
4. 2020-11-19
   soldstatus $130,000 Closed Sale or Rented 382-char remark

   Show marketing remark (382 chars)

   Make sure to check out the Interactive Virtual Tour with Floor plan on this completely updated 4 bed; 1212 sq ft 2-story home in Lovejoy. This is not a flip, this house has been updated and lived in by the owners. Roof 2010/2015, AC 2020, Vinyl siding 2013, back deck 2014, huge shed with rock climbing wall 2019, solid hardwood hickory floors. 1st floor laundry. Fully fenced yard.

5. 2020-10-01
   status Pending Sale 382-char remark

   Show marketing remark (382 chars)

   Make sure to check out the Interactive Virtual Tour with Floor plan on this completely updated 4 bed; 1212 sq ft 2-story home in Lovejoy. This is not a flip, this house has been updated and lived in by the owners. Roof 2010/2015, AC 2020, Vinyl siding 2013, back deck 2014, huge shed with rock climbing wall 2019, solid hardwood hickory floors. 1st floor laundry. Fully fenced yard.

6. 2020-08-25
   status Under Contract- Do Not Show 382-char remark

   Show marketing remark (382 chars)

   Make sure to check out the Interactive Virtual Tour with Floor plan on this completely updated 4 bed; 1212 sq ft 2-story home in Lovejoy. This is not a flip, this house has been updated and lived in by the owners. Roof 2010/2015, AC 2020, Vinyl siding 2013, back deck 2014, huge shed with rock climbing wall 2019, solid hardwood hickory floors. 1st floor laundry. Fully fenced yard.

7. 2020-08-20
   listed $130,000 Active 382-char remark

   Show marketing remark (382 chars)

   Make sure to check out the Interactive Virtual Tour with Floor plan on this completely updated 4 bed; 1212 sq ft 2-story home in Lovejoy. This is not a flip, this house has been updated and lived in by the owners. Roof 2010/2015, AC 2020, Vinyl siding 2013, back deck 2014, huge shed with rock climbing wall 2019, solid hardwood hickory floors. 1st floor laundry. Fully fenced yard.

8. 2010-04-05
   soldstatus $11,500 303-char remark

   Show marketing remark (303 chars)

   LOVEJOY SINGLE FAMILY HOME. GREAT STARTER OR RENTAL PROPERTY FOR A SUPER LOW PRICE. OFF STREET PARKING. UPDATED ELECTRIC. SOME ELBOW GREASE AND PAINT WILL GIVE THIS HOUSE A WHOLE NEW LOOK. NEWER BOILER AND HWT. 4 BEDROOMS. SOLD WAY BELOW ASSESSED VALUE. * * REHAB NEEDED - SOLD "AS IS" * *

9. 2010-01-04
   listed $12,500 303-char remark

   Show marketing remark (303 chars)

   LOVEJOY SINGLE FAMILY HOME. GREAT STARTER OR RENTAL PROPERTY FOR A SUPER LOW PRICE. OFF STREET PARKING. UPDATED ELECTRIC. SOME ELBOW GREASE AND PAINT WILL GIVE THIS HOUSE A WHOLE NEW LOOK. NEWER BOILER AND HWT. 4 BEDROOMS. SOLD WAY BELOW ASSESSED VALUE. * * REHAB NEEDED - SOLD "AS IS" * *

ⓘ 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 5/10 Major FEMA zone X (unshaded) · 24% 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: $16,529
• − Mortgage interest: −$8,397
• − Property taxes: −$2,248
• − Insurance: −$750
• − Repairs & maintenance: −$1,322
• − Management: −$1,322
• − Depreciation: −$4,361
• Taxable loss: −$1,871
• Est. tax savings @ 24.0%: +$449
• After-tax cash flow: $1,076/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

+1099.2% since first listed

9 events — show timeline

• 2026-04-10 Pending — WNYREIS
• 2026-04-07 Listed $149,900 WNYREIS
• 2020-11-20 Sold (Public Records) $140,000 Public Records
• 2020-11-19 Sold (MLS) $130,000 WNYREIS
• 2020-10-01 Pending — WNYREIS
• 2020-08-25 Pending — WNYREIS
• 2020-08-20 Listed $130,000 WNYREIS
• 2010-04-05 Sold (MLS) $11,500 WNYREIS
• 2010-01-04 Listed $12,500 WNYREIS

Property tax history

+1.7%/yr

Latest (2025): $263 · +0.0% YoY. Source: county tax records.