2009 Seneca St · Buffalo, NY 14210

$159,900

7 bd · 2.0 ba · 2,959 sqft · MultiFamily public records · 14 Days on market

Built 1920 4,080 sqft lot $54/sqft · 52% below area

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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
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• Appreciation +10.0/10.0
• ARV discount +7.5/15.0
• 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: 1 unit. estimate disagrees with records

Listing remarks MLS

Great income opportunity!!! Property located right on bus route. Metal Roof only 4 years old!! Great sun porch and natural woodwork throughout!!

Key facts

• Separate utilities
• Metal roof
• Circuit breakers

Tags

• SUNROOM USED AS A BEDROOM
• METAL ROOF
• CIRCUIT BREAKERS
• SEPARATE UTILITIES
• NEWER HWT

Property features AI

Finance

• Financial info: Owner pays trash collection and water; Rent includes trash collection and water; Operating expense details: see remarks

Exterior

• Parking: Detached garage with 2 garage spaces; Concrete parking surfaces
• Utilities: Cable available; Public water connected; Sewer connected; Circuit breaker electric
• Home design: 2-story multi-family building; Resale property
• Construction: Metal roof; Aluminum siding, brick, and frame construction; Copper plumbing; Stone foundation; Built existing (year built details: existing)
• Exterior features: Balcony; Corner lot; Near public transit; Rectangular residential lot; City street frontage

Interior

• Kitchen: Gas water heater (appliance listed)
• Bedrooms: One unit with 3 bedrooms; One unit with 4 bedrooms; Both units month-to-month leases indicated for at least one unit
• Flooring: Carpet; Laminate; Tile; Varies
• Bathrooms: Two full bathrooms total (one full bath in each unit)
• Heating & cooling: Gas heating; Forced air; Hot water heating
• Interior features: Ceiling fan(s)
• Laundry & utility: Separate gas meters for each unit; Separate electric meters for each unit

What this means for you Summary

Snapshot

• This is a 7-bed/2.0-bath multifamily listed at $160k.

Deal economics

• At list price, monthly cash flow is $3k ($38k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($5k rent vs $160k).
• Cap rate 30.1% 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.
• 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: 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 $5,229/mo this rent would consume 116% 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 $17k of equity ($1k loan paydown + $16k appreciation (10.0% local appreciation)).
• At projected returns (10.0% appreciation + 8.0% rent growth), your $45k cash investment doubles in ~1 year — after that, you're playing with house money.
• By year 3, paydown + projected appreciation supports a ~$43k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• Only 14 days on market — expect competitive offers; lowballing is unlikely to land.
• 4 sale attempts since 10y 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.
• Current owner paid $72k; list at $160k implies a 124% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1920 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: major flood risk — expect insurance premiums to compound above CPI over the hold.

Recommended offer $159,900

Questions for the listing agent

1. Built in 1920 — 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 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: 3.27% ✓
• Cap rate: 30.06%
• Cash-on-cash: 84.88%
• DSCR: 4.78
• GRM: 2.5

CMA / ARV

• ARV (median comp): $332,684
• List price: $159,900
• Delta: -51.94%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
85 Geary St	0.09mi	6/2.0 (-1)	2,780 (-6%)	2mo	$267,500	$96	78
50 Duerstein St	0.61mi	6/2.0 (-1)	2,956 (-0%)	3mo	$160,000	$54	64
286 Cumberland Ave	0.31mi	6/2.0 (-1)	2,768 (-6%)	12mo	$247,391	$89	60
137 Southside Pkwy	0.66mi	6/2.0 (-1)	2,948 (-0%)	6mo	$290,000	$98	59
89 Rutland St	0.26mi	6/2.0 (-1)	2,644 (-11%)	10mo	$239,000	$90	57
82 Rutland St	0.28mi	6/2.0 (-1)	2,592 (-12%)	9mo	$325,000	$125	54
72 Seminole Pkwy	0.24mi	6/2.0 (-1)	2,548 (-14%)	9mo	$260,000	$102	53
18 Sage Ave	0.40mi	6/2.0 (-1)	2,578 (-13%)	4mo	$164,500	$64	51
72 Pomona Pl	0.38mi	7/2.0	2,530 (-14%)	11mo	$230,000	$91	49
75 Juniata Pl	0.48mi	6/2.0 (-1)	2,544 (-14%)	2mo	$245,000	$96	48
368 Cumberland Ave	0.37mi	6/2.0 (-1)	2,597 (-12%)	15mo	$315,000	$121	45
118 Indian Church Rd	0.53mi	6/2.0 (-1)	2,552 (-14%)	8mo	$265,851	$104	40

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: 98.8%
• Equity multiple: 8.07×
• Total profit: $316,411
• Equity at exit: $144,051

10-year hold

• IRR: 95.4%
• Equity multiple: 19.80×
• Total profit: $841,608
• Equity at exit: $310,651

Cash invested: $44,772 (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: 9.5×

Monthly cashflow live

• Estimated rent: $5,229 medium
• Mortgage (P&I): −$839
• Tax from tax record: −$59 /mo · $707/yr
• Insurance: −$67
• HOA: −$0
• Vacancy / Maint / Mgmt: −$1,098
• Net cashflow: $3,167

Break-even live

Break-even rent $1,220

Max offer price $159,900

Occupancy floor 34%

Sensitivity live

Price	-10% $3,257	-5% $3,212	+0% $3,167	+5% $3,122	+10% $3,076
Rent	-10% $2,754	-5% $2,960	+0% $3,167	+5% $3,373	+10% $3,580
Rate	-1.0pp $3,247	-0.5pp $3,208	base $3,167	+0.5pp $3,125	+1.0pp $3,083

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

Units	Beds	Baths	Est. rent
▸ 3× units	3	1.5	$4,218
1× unit	1	0.5	$1,012
Total (4 units)			$5,229

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: $39,975
• Closing costs: $4,797
• Reserves months: —
• Total cash needed: —

Listing history 12 events

1. 2026-05-11
   status Pending 306-char remark
2. 2026-04-27
   listed $159,900 Active 306-char remark
3. 2025-07-30
   status Pending
4. 2025-07-29
   historical
5. 2025-07-15
   status Active
6. 2025-06-27
   historical Active Under Contract
7. 2025-06-13
   listed $170,000 Active
8. 2016-05-26
   soldstatus $71,500
9. 2016-05-25
   soldstatus $70,000 Closed Sale or Rented

   Show marketing remark (144 chars)

   Great income opportunity!!! Property located right on bus route. Metal Roof only 4 years old!! Great sun porch and natural woodwork throughout!!

10. 2016-03-10
    status Pending Sale

    Show marketing remark (144 chars)

    Great income opportunity!!! Property located right on bus route. Metal Roof only 4 years old!! Great sun porch and natural woodwork throughout!!

11. 2016-02-02
    listed $82,900 Active

    Show marketing remark (144 chars)

    Great income opportunity!!! Property located right on bus route. Metal Roof only 4 years old!! Great sun porch and natural woodwork throughout!!

12. 2004-02-17
    soldstatus $26,500

ⓘ 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: $707 · $59/mo
• Projected year-2 tax: $1,705 · $142/mo
• Expected delta: +$998/yr (+$83/mo · 141.2%)

ⓘ 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) · 68% 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: $62,748
• − Mortgage interest: −$8,957
• − Property taxes: −$707
• − Insurance: −$800
• − Repairs & maintenance: −$5,020
• − Management: −$5,020
• − Depreciation: −$4,652
• Taxable income: $37,594
• Est. tax owed @ 24.0%: −$9,022
• After-tax cash flow: $28,980/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

+503.4% since first listed

12 events — show timeline

• 2026-05-11 Pending — WNYREIS
• 2026-04-27 Listed $159,900 WNYREIS
• 2025-07-30 Pending — WNYREIS
• 2025-07-29 Listing Removed — WNYREIS
• 2025-07-15 Relisted — WNYREIS
• 2025-06-27 Contingent — WNYREIS
• 2025-06-13 Listed $170,000 WNYREIS
• 2016-05-26 Sold (Public Records) $71,500 Public Records
• 2016-05-25 Sold (MLS) $70,000 WNYREIS
• 2016-03-10 Pending — WNYREIS
• 2016-02-02 Listed $82,900 WNYREIS
• 2004-02-17 Sold (Public Records) $26,500 Public Records

Property tax history

+7.0%/yr

Latest (2025): $707 · +65.9% YoY. Source: county tax records.