13 Mariner St · Buffalo, NY 14201

$339,900

4 bd · 2.0 ba · 1,645 sqft · MultiFamily public records · 36 Days on market

Built 1905 1,950 sqft lot $207/sqft · 24% below area Est $450k · 24% 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 +19.1/30.0
• ARV discount +15.0/15.0
• DSCR +6.0/10.0
• 1% rule +3.9/10.0
• Livability +3.9/5.0
• Rent growth +3.6/5.0
• Schools +3.3/10.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

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

13 Mariner is a two-unit property with a driveway, in the Allentown Historic Preservation District. Each unit has 2 bedrooms, one full bath, in unit laundry, front and rear outdoor space. The entire building was remodeled in the last 12 years, including furnaces and ducts, hot water tanks and plumbing, electric panels and wiring, kitchens, bathrooms, flooring and fixtures, appliances, sewer trap, windows, and the roof was a full tear off with 50-year architectural shingles. Utilities for each unit are separated. Clean and dry full basement. The units are laid out nicely and flow well with lots of natural light and spacious bedrooms. Walking distance to the Medical Campus, Elmwood Village, and Downtown. Both units are currently rented. Showings will be held on Tuesdays and Thursdays from 6-8pm and Saturdays 1-3pm, by appointment only.

Key facts

• Two unit property
• Remodeled building
• In unit laundry

Tags

• TWO UNIT PROPERTY
• IN UNIT LAUNDRY
• FRONT AND REAR OUTDOOR SPACE
• REMODELED BUILDING
• SEPARATED UTILITIES
• CLEAN AND DRY FULL BASEMENT

What this means for you Summary

Snapshot

• This is a 4-bed/2.0-bath multifamily listed at $340k.

Deal economics

• At list price, monthly cash flow is $360 ($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 $301k (11.5% below list).
• Recommended offer: $301k (11.5% 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 rising fast (+4.3%/yr); 56 active listings in the ZIP; 18 comparable units currently listed for rent nearby; rentals at typical pace (median 25d on market — plan ~3-4 weeks tenant-placement turnaround); lower-income renter base — watch delinquency; 1,244 units permitted in Erie County in 2024 (563 in 5+ unit buildings).
• At $3,009/mo this rent would consume 89% of the median local household income ($41k/yr) (locally 1213% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $2k of loan paydown is wiped out by about $10k of value loss. Plan a longer hold.

Negotiation context

• It's been on market 36 days — a 3% lower offer ($330k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 14y ago; this cycle's ask has dropped $25k (7%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Watch-outs: built in 1905 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $300,900 (11.5% 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 11% concession, seller financing, or rate buy-down credit?
2. Built in 1905 — 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: 0.89% ✗
• Cap rate: 7.56%
• Cash-on-cash: 4.54%
• DSCR: 1.20
• GRM: 9.4

CMA / ARV

• ARV (median comp): $449,801
• List price: $339,900
• Delta: -24.43%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 6 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
116 West Ave	0.25mi	3/2.0 (-1)	1,692 (+3%)	4mo	$131,000	$77	76
372 Prospect Ave	0.51mi	4/3.0	1,660 (+1%)	17mo	$408,000	$246	56
145 Hudson St	0.54mi	4/2.0	1,492 (-9%)	5mo	$150,000	$101	55
145 14th St	0.66mi	3/2.0 (-1)	1,710 (+4%)	9mo	$281,500	$165	50
11 Orton Pl	0.29mi	4/3.0	1,450 (-12%)	23mo	$350,000	$241	44
192 York St	0.67mi	3/2.5 (-1)	1,884 (+14%)	1mo	$285,000	$151	37

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

Projected returns pro-forma

-3.0% appreciation · 4.28% rent growth · sell at horizon

5-year hold

• IRR: -8.0%
• Equity multiple: 0.70×
• Total profit: $-28,379
• Equity at exit: $50,680

10-year hold

• IRR: 2.9%
• Equity multiple: 1.22×
• Total profit: $20,703
• Equity at exit: $29,388

Cash invested: $95,172 (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 14201

• Home prices YoY: -19.1%
• Rents YoY: 4.3%
• Active inventory: 56
• Price-to-rent: 18.8×

Monthly cashflow live

• Estimated rent: $3,009 high
• Mortgage (P&I): −$1,782
• Tax from tax record: −$93 /mo · $1,115/yr
• Insurance: −$142
• HOA: −$0
• Vacancy / Maint / Mgmt: −$632
• Net cashflow: $360

Break-even live

Break-even rent $2,553

Max offer price $339,900

Occupancy floor 83%

Sensitivity live

Price	-10% $552	-5% $456	+0% $360	+5% $264	+10% $168
Rent	-10% $122	-5% $241	+0% $360	+5% $479	+10% $598
Rate	-1.0pp $531	-0.5pp $447	base $360	+0.5pp $272	+1.0pp $182

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

Units	Beds	Baths	Est. rent
▸ 2× units	2	1	$3,010
Total (2 units)			$3,009

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: $84,975
• Closing costs: $10,197
• Reserves months: —
• Total cash needed: —

Rent comps 18 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
21 College St Buffalo, NY	3.0	1.0	1104	$1,850	$1.68	24d	1	0.05mi
217 W Tupper St Unit 2 Buffalo, NY	3.0	1.0	1150	$1,350	$1.17	44d	1	0.14mi
44 N Pearl St #5 Buffalo, NY	3.0	1.0	1200	$2,400	$2.00	44d	1	0.32mi
190 Whitney Pl Buffalo, NY	3.0	1.0	1180	$1,550	$1.31	44d	1	0.32mi
17 N Pearl St Unit 3 Buffalo, NY	3.0	2.0	1197	$3,100	$2.59	24d	1	0.33mi
124 Normal Ave Unit 2 Buffalo, NY	3.0	1.0	1727	$2,000	$1.16	24d	1	0.63mi
184 14th St Buffalo, NY	4.0	2.0	1950	$4,400	$2.26	24d	1	0.75mi
118 Ashland Ave Buffalo, NY	3.0	1.0	1326	$1,850	$1.40	15d	1	0.77mi
550 Busti Ave Unit 2 Buffalo, NY	3.0	1.0	1638	$1,500	$0.92	44d	1	0.82mi
330 Bryant St Buffalo, NY	3.0	2.0	2224	$2,200	$0.99	21d	1	0.82mi
161 16th St Buffalo, NY	3.0	1.5	1500	$2,000	$1.33	24d	1	0.88mi
237 Main St Buffalo, NY	1.0–3.0	1.5–2.5	1608	$4,035	$2.51	2d	9	1.12mi
375 Hampshire St Buffalo, NY	3.0	1.0	1200	$1,100	$0.92	44d	1	1.32mi
310 Hampshire St Apt 3 Buffalo, NY	3.0	1.0	1200	$1,500	$1.25	44d	1	1.33mi
740 Elmwood Ave Buffalo, NY	3.0	1.0	2000	$1,995	$1.00	15d	1	1.40mi
478 Breckenridge St Buffalo, NY	3.0	1.0	1100	$1,575	$1.43	44d	1	1.42mi
685 Auburn Ave Unit 2 Buffalo, NY	3.0	1.0	1200	$1,750	$1.46	15d	1	1.49mi
40 Putnam St Buffalo, NY	4.0	1.0	1600	$2,100	$1.31	24d	1	1.49mi

Listing history 10 events

1. 2026-05-11
   price $339,900 845-char remark

   Show marketing remark (845 chars)

   13 Mariner is a two-unit property with a driveway, in the Allentown Historic Preservation District. Each unit has 2 bedrooms, one full bath, in unit laundry, front and rear outdoor space. The entire building was remodeled in the last 12 years, including furnaces and ducts, hot water tanks and plumbing, electric panels and wiring, kitchens, bathrooms, flooring and fixtures, appliances, sewer trap, windows, and the roof was a full tear off with 50-year architectural shingles. Utilities for each unit are separated. Clean and dry full basement. The units are laid out nicely and flow well with lots of natural light and spacious bedrooms. Walking distance to the Medical Campus, Elmwood Village, and Downtown. Both units are currently rented. Showings will be held on Tuesdays and Thursdays from 6-8pm and Saturdays 1-3pm, by appointment only.

2. 2026-04-17
   listed $365,000 Active 845-char remark

   Show marketing remark (845 chars)

   13 Mariner is a two-unit property with a driveway, in the Allentown Historic Preservation District. Each unit has 2 bedrooms, one full bath, in unit laundry, front and rear outdoor space. The entire building was remodeled in the last 12 years, including furnaces and ducts, hot water tanks and plumbing, electric panels and wiring, kitchens, bathrooms, flooring and fixtures, appliances, sewer trap, windows, and the roof was a full tear off with 50-year architectural shingles. Utilities for each unit are separated. Clean and dry full basement. The units are laid out nicely and flow well with lots of natural light and spacious bedrooms. Walking distance to the Medical Campus, Elmwood Village, and Downtown. Both units are currently rented. Showings will be held on Tuesdays and Thursdays from 6-8pm and Saturdays 1-3pm, by appointment only.

3. 2024-12-18
   soldstatus $330,000
4. 2024-11-06
   soldstatus $330,000 Closed 766-char remark

   Show marketing remark (766 chars)

   13 Mariner is a two-unit property with a driveway, in the Allentown Historic Preservation District. Each unit has 2 bedrooms, one full bath, in unit laundry, as well as front and rear outdoor space. The entire building was remodeled in the last 10 years, including furnaces and ducts, hot water tanks and plumbing, electric panels and wiring, kitchens, bathrooms, flooring and fixtures, appliances, sewer trap, windows, and the roof was a full tear off with a 50-year architectural shingle. Utilities for each unit are separated. Clean and dry full basement. The units are laid out nicely and flow well with lots of natural light, one larger primary bedroom and a smaller second bedroom. Showings will be held on Tuesday's & Thursdays between 6pm & 8pm.

5. 2024-08-16
   status Pending 766-char remark

   Show marketing remark (766 chars)

   13 Mariner is a two-unit property with a driveway, in the Allentown Historic Preservation District. Each unit has 2 bedrooms, one full bath, in unit laundry, as well as front and rear outdoor space. The entire building was remodeled in the last 10 years, including furnaces and ducts, hot water tanks and plumbing, electric panels and wiring, kitchens, bathrooms, flooring and fixtures, appliances, sewer trap, windows, and the roof was a full tear off with a 50-year architectural shingle. Utilities for each unit are separated. Clean and dry full basement. The units are laid out nicely and flow well with lots of natural light, one larger primary bedroom and a smaller second bedroom. Showings will be held on Tuesday's & Thursdays between 6pm & 8pm.

6. 2024-08-05
   price $324,900 766-char remark

   Show marketing remark (766 chars)

   13 Mariner is a two-unit property with a driveway, in the Allentown Historic Preservation District. Each unit has 2 bedrooms, one full bath, in unit laundry, as well as front and rear outdoor space. The entire building was remodeled in the last 10 years, including furnaces and ducts, hot water tanks and plumbing, electric panels and wiring, kitchens, bathrooms, flooring and fixtures, appliances, sewer trap, windows, and the roof was a full tear off with a 50-year architectural shingle. Utilities for each unit are separated. Clean and dry full basement. The units are laid out nicely and flow well with lots of natural light, one larger primary bedroom and a smaller second bedroom. Showings will be held on Tuesday's & Thursdays between 6pm & 8pm.

7. 2024-07-27
   listed $349,000 Active 766-char remark

   Show marketing remark (766 chars)

   13 Mariner is a two-unit property with a driveway, in the Allentown Historic Preservation District. Each unit has 2 bedrooms, one full bath, in unit laundry, as well as front and rear outdoor space. The entire building was remodeled in the last 10 years, including furnaces and ducts, hot water tanks and plumbing, electric panels and wiring, kitchens, bathrooms, flooring and fixtures, appliances, sewer trap, windows, and the roof was a full tear off with a 50-year architectural shingle. Utilities for each unit are separated. Clean and dry full basement. The units are laid out nicely and flow well with lots of natural light, one larger primary bedroom and a smaller second bedroom. Showings will be held on Tuesday's & Thursdays between 6pm & 8pm.

8. 2012-09-12
   soldstatus $110,000
9. 2012-09-12
   soldstatus $110,000
10. 2012-07-07
    listed $129,900

ⓘ 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: $1,115 · $93/mo
• Projected year-2 tax: $3,430 · $286/mo
• Expected delta: +$2,314/yr (+$193/mo · 207.5%)

ⓘ 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: $36,108
• − Mortgage interest: −$19,040
• − Property taxes: −$1,115
• − Insurance: −$1,700
• − Repairs & maintenance: −$2,889
• − Management: −$2,889
• − Depreciation: −$9,888
• Taxable loss: −$1,412
• Est. tax savings @ 24.0%: +$339
• After-tax cash flow: $4,660/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): 12,369
• Household income: $40,512
• Rent vs Own: 76.4% rent · 23.6% own
• Severe rent burden: 1213.0

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: Diverse neighborhood (Simpson 0.66)
• Race & ethnicity: White 42% Hispanic / Latino 36% Black 16% Two or more races 12% Asian 2% Native American 1%
• Hispanic origin (detail): Mexican 4% Puerto Rican 30% Dominican 1%
• Common ancestry: Romanian 7% Subsaharan African 2% Slovak 1%
• Foreign-born: 8% · Canada, China
• Languages at home: 69% English-only · Spanish 24% Arabic 2% 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: ▼ -68.73%
• Current HPI: 290.2643
• Rent YoY: ▲ 4.28%
• 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

+161.7% since first listed

10 events — show timeline

• 2026-05-11 Price Changed $339,900 WNYREIS
• 2026-04-17 Listed $365,000 WNYREIS
• 2024-12-18 Sold (Public Records) $330,000 Public Records
• 2024-11-06 Sold (MLS) $330,000 WNYREIS
• 2024-08-16 Pending — WNYREIS
• 2024-08-05 Price Changed $324,900 WNYREIS
• 2024-07-27 Listed $349,000 WNYREIS
• 2012-09-12 Sold (Public Records) $110,000 Public Records
• 2012-09-12 Sold (MLS) $110,000 WNYREIS
• 2012-07-07 Listed $129,900 WNYREIS

Property tax history

+11.3%/yr

Latest (2025): $1,115 · +0.0% YoY. Source: county tax records.