93 Martin Ave · Blasdell, NY 14219

$339,900

25 bd · None ba · 2,458 sqft · MultiFamily public records · 236 Days on market

Built 1934 5,750 sqft lot $138/sqft · 13% below area Est $389k · 13% under

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Why this score? — see what drove the B+ 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 +13.2/15.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• Schools +4.7/10.0
• Livability +3.3/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Multi-family units

County records classify this as Multi-Family (5+ Unit). Listing-text estimate: 5 units. confirmed

5+ unit building — per-unit beds/baths from public records are typically unavailable; the breakdown below (if shown) is an estimate from the listing text.

Listing remarks MLS

Attention investors and owner-occupants! Well-maintained 5-unit residential property in the heart of Blasdell. The main building offers a spacious 3-bedroom apartment with a covered front porch and three 1-bedroom units. The rear cottage includes 1 bedroom, living room, kitchen, and a full bath. Each unit has seen various updates over the years. Ample off-street parking with a large driveway and lockable exterior storage shed. Great opportunity for income generation or owner-occupancy!

Key facts

• Covered front porch
• Rear cottage
• 5,750 sq ft lot

Tags

• SPACIOUS 3 BEDROOM APARTMENT
• COVERED FRONT PORCH
• REAR COTTAGE
• AMPLE OFF STREET PARKING
• LOCKABLE EXTERIOR STORAGE SHED

What this means for you Summary

Snapshot

• This is a 1×3bd/1ba + 4×1bd/1ba units multifamily listed at $340k.

Deal economics

• At list price, monthly cash flow is $2k ($20k/yr) — positive. Per door: $326/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($5k rent vs $340k).
• Recommended offer: $299k (12.0% below list) — sets the bar for market timing.
• Cap rate 12.1% vs local median 4.5% in Blasdell — 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 66/100 on livability (#643 in NY) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety A+; Watch: employment D, schools D-, amenities F.
• Frontier Central School District (suburban): math 54% / reading 55% proficiency, ranked #301 of 590 in NY (top 51%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease; only 20% free/reduced lunch — higher-income household profile.
• Market conditions: 44 active listings in the ZIP; 1,244 units permitted in Erie County in 2024 (563 in 5+ unit buildings).

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.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $95k cash investment doubles in ~6 years — after that, you're playing with house money.

Negotiation context

• It's been on market 236 days — a 12% lower offer ($299k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 8y ago; this cycle's ask has dropped $25k (7%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $215k; list at $340k implies a 58% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1934 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: major flood risk — expect insurance premiums to compound above CPI over the hold.

Recommended offer $299,112 (12.0% below list)

Questions for the listing agent

1. It's been on market 236 days. Have you received any prior offers? Is the seller open to a 12% 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 1934 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
5. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
6. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
7. Schools are D-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
8. 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.
9. 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.
10. 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: 1.53% ✓
• Cap rate: 12.05%
• Cash-on-cash: 20.57%
• DSCR: 1.92
• GRM: 5.5

CMA / ARV

• ARV (median comp): $389,078
• List price: $339,900
• Delta: -12.64%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Projected returns pro-forma

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

5-year hold

• IRR: 12.9%
• Equity multiple: 1.51×
• Total profit: $49,001
• Equity at exit: $50,680

10-year hold

• IRR: 21.8%
• Equity multiple: 2.86×
• Total profit: $177,115
• 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 14219

• Home prices YoY: -19.4%
• Active inventory: 44
• Price-to-rent: 23.7×

Monthly cashflow live

• Estimated rent: $5,195 medium
• Mortgage (P&I): −$1,782
• Tax from tax record: −$548 /mo · $6,579/yr
• Insurance: −$142
• HOA: −$0
• Vacancy / Maint / Mgmt: −$1,091
• Net cashflow: $1,632

Break-even live

Break-even rent $3,130

Max offer price $339,900

Occupancy floor 64%

Sensitivity live

Price	-10% $1,824	-5% $1,728	+0% $1,632	+5% $1,536	+10% $1,439
Rent	-10% $1,221	-5% $1,427	+0% $1,632	+5% $1,837	+10% $2,042
Rate	-1.0pp $1,803	-0.5pp $1,718	base $1,632	+0.5pp $1,544	+1.0pp $1,454

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

Units	Beds	Baths	Est. rent
1× unit	3	1	$1,194
▸ 4× units	1	1	$4,000
Total (5 units)			$5,195

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: —

Listing history 26 events

1. 2026-06-21
   days on market $339,900 Active 236 DOM
2. 2026-06-18
   days on market $339,900 Active 233 DOM
3. 2026-06-17
   days on market $339,900 Active 232 DOM
4. 2026-06-16
   days on market $339,900 Active 231 DOM
5. 2026-06-15
   days on market $339,900 Active 230 DOM
6. 2026-06-13
   days on market $339,900 Active 228 DOM
7. 2026-06-10
   days on market $339,900 Active 225 DOM
8. 2026-06-09
   days on market $339,900 Active 224 DOM
9. 2026-06-08
   days on market $339,900 Active 223 DOM
10. 2026-06-07
    days on market $339,900 Active 222 DOM
11. 2026-06-05
    days on market $339,900 Active 219 DOM
12. 2026-06-03
    days on market $339,900 Active 218 DOM
13. 2026-06-02
    days on market $339,900 Active 217 DOM
14. 2026-06-01
    days on market $339,900 Active 216 DOM
15. 2026-05-31
    days on market $339,900 Active 215 DOM
16. 2026-04-21
    price $349,900 490-char remark

    Show marketing remark (490 chars)

    Attention investors and owner-occupants! Well-maintained 5-unit residential property in the heart of Blasdell. The main building offers a spacious 3-bedroom apartment with a covered front porch and three 1-bedroom units. The rear cottage includes 1 bedroom, living room, kitchen, and a full bath. Each unit has seen various updates over the years. Ample off-street parking with a large driveway and lockable exterior storage shed. Great opportunity for income generation or owner-occupancy!

17. 2025-10-28
    listed $365,000 Active 490-char remark

    Show marketing remark (490 chars)

    Attention investors and owner-occupants! Well-maintained 5-unit residential property in the heart of Blasdell. The main building offers a spacious 3-bedroom apartment with a covered front porch and three 1-bedroom units. The rear cottage includes 1 bedroom, living room, kitchen, and a full bath. Each unit has seen various updates over the years. Ample off-street parking with a large driveway and lockable exterior storage shed. Great opportunity for income generation or owner-occupancy!

18. 2025-10-28
    historical

    Show marketing remark (490 chars)

    Attention investors and owner-occupants! Well-maintained 5-unit residential property in the heart of Blasdell. The main building offers a spacious 3-bedroom apartment with a covered front porch and three 1-bedroom units. The rear cottage includes 1 bedroom, living room, kitchen, and a full bath. Each unit has seen various updates over the years. Ample off-street parking with a large driveway and lockable exterior storage shed. Great opportunity for income generation or owner-occupancy!

19. 2025-08-13
    price $365,000
20. 2025-05-22
    price $379,900
21. 2025-05-05
    listed $400,000 Active
22. 2019-03-20
    soldstatus $215,000 Closed Sale or Rented
23. 2019-01-09
    status Pending Sale
24. 2018-12-11
    status Under Contract- Do Not Show
25. 2018-11-09
    listed $249,900 Active
26. 2009-02-20
    soldstatus $145,000

ⓘ 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: $6,579 · $548/mo
• Projected year-2 tax: $6,579 · $548/mo
• Expected delta: $0/yr ($0/mo · 0.0%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Climate risk First Street

• 🌊 Flood 6/10 Major FEMA zone X (unshaded) · 70% 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 4/10 Moderate 3 unhealthy d/yr today · 8 by 30 yrs out

Taxation est. · year 1

• Rental income: $62,340
• − Mortgage interest: −$19,040
• − Property taxes: −$6,579
• − Insurance: −$1,700
• − Repairs & maintenance: −$4,987
• − Management: −$4,987
• − Depreciation: −$9,888
• Taxable income: $15,160
• Est. tax owed @ 24.0%: −$3,638
• After-tax cash flow: $15,942/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: Frontier Central School District
• NCES district ID: 3611670
• Math proficiency: 54% ▼ -16.00%
• Reading proficiency: 55% ▼ -10.00%
• Median HH income: $58,807
• Composite: 47.36/100
• National rank: #2291
• State rank: #301 of 590 in NY

Livability — Blasdell

• Score: 66/100
• State rank: #643
• US rank: #12059

Category grades

Amenities F Commute F Cost of living A+ Crime A- Employment D Housing A+ Health & safety A+ User ratings F

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Blasdell, NY
• Population (ZIP): 10,894

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 (87%)
• Race & ethnicity: White 87% Two or more races 5% Hispanic / Latino 5% Asian 2% Black 2%
• Common ancestry: Romanian 21% Slovak 5% Lithuanian 2%
• Foreign-born: 3% · Canada
• Languages at home: 93% English-only · Russian/Polish/Slavic 3% Other Indo-European 2% Spanish 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: ▼ -80.33%
• Current HPI: 332.7314
• 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

+141.3% since first listed

11 events — show timeline

• 2026-04-21 Price Changed $349,900 WNYREIS
• 2025-10-28 Listing Removed — WNYREIS
• 2025-10-28 Listed $365,000 WNYREIS
• 2025-08-13 Price Changed $365,000 WNYREIS
• 2025-05-22 Price Changed $379,900 WNYREIS
• 2025-05-05 Listed $400,000 WNYREIS
• 2019-03-20 Sold (MLS) $215,000 WNYREIS
• 2019-01-09 Pending — WNYREIS
• 2018-12-11 Pending — WNYREIS
• 2018-11-09 Listed $249,900 WNYREIS
• 2009-02-20 Sold (Public Records) $145,000 Public Records

Property tax history

+2.0%/yr

Latest (2025): $6,579 · +0.6% YoY. Source: county tax records.