190 Whitehall Ave · Buffalo, NY 14220

$250,000

4 bd · 2.0 ba · 1,472 sqft · MultiFamily public records · 8 Days on market

Built 1950 3,910 sqft lot Est $244k · at est.

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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 +27.1/30.0
• DSCR +9.4/10.0
• ARV discount +6.5/15.0
• 1% rule +6.1/10.0
• Rent growth +4.4/5.0
• Livability +3.9/5.0
• 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

Well maintained and updated Double on a quiet neighborhood street. Hardwood floors, updated kitchen and baths (1 bath with whirlpool tub) and patio with awning. Full basement and fully fenced yard. Come see your new home!

Key facts

• Vinyl windows
• Remodeled kitchen
• Full basement

Tags

• REMODELED KITCHEN
• FULL BATH
• VINYL WINDOWS
• ARCHITECTURAL ROOF
• FULL BASEMENT
• SEPARATE LAUNDRY ACCESS

Property features AI

Finance

• Financial info: Owner pays trash collection and water; Operating expenses may include insurance, maintenance, professional management, rent, and water/sewer

Exterior

• Parking: Concrete parking surface
• Utilities: Electricity connected with circuit breakers; High-speed internet available; Public water connected; Sewer connected
• Home design: Two-story property; Residential 2-unit zoning; Resale condition
• Construction: Vinyl siding; Asphalt architectural shingle roof; Block foundation; Built (existing)
• Exterior features: Awning(s); Open patio/porch; Patio; Porch; Near public transit; Rectangular residential lot; City street frontage

Interior

• Flooring: Carpet; Luxury vinyl; Varied flooring
• Bathrooms: 2 full bathrooms
• Heating & cooling: Gas forced-air heating
• Interior features: Thermal windows; Full basement
• Laundry & utility: Washer hookup; Gas water heater

What this means for you Summary

Snapshot

• This is a 4-bed/2.0-bath multifamily listed at $250k.

Deal economics

• At list price, monthly cash flow is $710 ($9k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $250k).
• Cap rate 9.7% vs local median 8.0% in Buffalo — meaningfully above typical; check what's discounted (condition, days-on-market, listing class) to confirm the premium yield is real.

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 (+7.6%/yr); 136 active listings in the ZIP; 4 comparable units currently listed for rent nearby; rentals at typical pace (median 16d on market — plan ~3-4 weeks tenant-placement turnaround); 1,244 units permitted in Erie County in 2024 (563 in 5+ unit buildings).
• At $2,770/mo this rent would consume 47% of the median local household income ($71k/yr) (locally 602% 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 $8k of value loss. Plan a longer hold.
• At projected returns (-3.0% appreciation + 7.6% rent growth), your $70k cash investment doubles in ~7 years — after that, you're playing with house money.

Negotiation context

• Only 8 days on market — expect competitive offers; lowballing is unlikely to land.
• 2 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 $105k; list at $250k implies a 138% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1950 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $250,000

Questions for the listing agent

1. Built in 1950 — 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: 1.11% ✓
• Cap rate: 9.70%
• Cash-on-cash: 12.18%
• DSCR: 1.54
• GRM: 7.5

CMA / ARV

• ARV (on-the-fly): $244,352
• Comps found: 8

Show comp detail 8 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
123 Kimberly Ave	0.20mi	4/2.0	1,633 (+11%)	4mo	$246,500	$151	69
103 Kimberly Ave	0.23mi	4/2.0	1,633 (+11%)	10mo	$271,000	$166	63
100 Shenandoah Rd	0.31mi	4/2.0	1,552 (+5%)	17mo	$265,000	$171	62
87 Kimberly Ave	0.25mi	4/2.0	1,610 (+9%)	22mo	$312,000	$194	55
87 Hollywood Ave	0.29mi	4/2.0	1,612 (+10%)	23mo	$280,000	$174	51
240 Okell St	0.72mi	3/2.0 (-1)	1,410 (-4%)	8mo	$125,000	$89	48
101 Aldrich Pl	0.65mi	4/2.0	1,516 (+3%)	24mo	$220,000	$145	45
211 Sheffield Ave	0.63mi	3/2.0 (-1)	1,391 (-6%)	16mo	$130,000	$93	43

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 · 7.62% rent growth · sell at horizon

5-year hold

• IRR: 6.3%
• Equity multiple: 1.26×
• Total profit: $18,097
• Equity at exit: $37,276

10-year hold

• IRR: 19.2%
• Equity multiple: 2.92×
• Total profit: $134,406
• Equity at exit: $21,615

Cash invested: $70,000 (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 14220

• Home prices YoY: -26.7%
• Rents YoY: 7.6%
• Active inventory: 136
• Price-to-rent: 15.0×

Monthly cashflow live

• Estimated rent: $2,770 medium
• Mortgage (P&I): −$1,311
• Tax from tax record: −$63 /mo · $753/yr
• Insurance: −$104
• HOA: −$0
• Vacancy / Maint / Mgmt: −$582
• Net cashflow: $710

Break-even live

Break-even rent $1,871

Max offer price $250,000

Occupancy floor 69%

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

Units	Beds	Baths	Est. rent
▸ 2× units	2	2	$2,770
Total (2 units)			$2,770

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: $62,500
• Closing costs: $7,500
• Reserves months: —
• Total cash needed: —

Rent comps 4 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
74 Woodside Ave Unit 1 Buffalo, NY	3.0	1.0	1250	$1,510	$1.21	2d	1	0.78mi
102 Wildwood Pl Unit 1 Buffalo, NY	3.0	1.0	1100	$1,250	$1.14	16d	1	0.93mi
298 Cumberland Ave Buffalo, NY	3.0	1.5	1208	$2,200	$1.82	2d	1	1.20mi
23 Indian Orchard Pl Unit Lower Buffalo, NY	3.0	1.0	1200	$1,250	$1.04	44d	1	1.29mi

Listing history 12 events

1. 2026-06-07
   statusdays on market $250,000 Pending 8 DOM
2. 2026-06-03
   days on market $250,000 Active 6 DOM
3. 2026-06-02
   days on market $250,000 Active 5 DOM
4. 2026-06-01
   days on market $250,000 Active 4 DOM
5. 2026-05-31
   days on market $250,000 Active 3 DOM
6. 2026-05-28
   listed $250,000 Active
7. 2016-05-10
   soldstatus $105,000
8. 2016-05-01
   soldstatus $105,000 Closed Sale or Rented 222-char remark

   Show marketing remark (222 chars)

   Well maintained and updated Double on a quiet neighborhood street. Hardwood floors, updated kitchen and baths (1 bath with whirlpool tub) and patio with awning. Full basement and fully fenced yard. Come see your new home!

9. 2016-02-29
   status Pending Sale 222-char remark

   Show marketing remark (222 chars)

   Well maintained and updated Double on a quiet neighborhood street. Hardwood floors, updated kitchen and baths (1 bath with whirlpool tub) and patio with awning. Full basement and fully fenced yard. Come see your new home!

10. 2016-02-10
    price $109,900 222-char remark

    Show marketing remark (222 chars)

    Well maintained and updated Double on a quiet neighborhood street. Hardwood floors, updated kitchen and baths (1 bath with whirlpool tub) and patio with awning. Full basement and fully fenced yard. Come see your new home!

11. 2016-02-03
    listed $119,900 Active 222-char remark

    Show marketing remark (222 chars)

    Well maintained and updated Double on a quiet neighborhood street. Hardwood floors, updated kitchen and baths (1 bath with whirlpool tub) and patio with awning. Full basement and fully fenced yard. Come see your new home!

12. 2010-08-16
    soldstatus $92,000

ⓘ 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: $753 · $63/mo
• Projected year-2 tax: $2,489 · $207/mo
• Expected delta: +$1,736/yr (+$145/mo · 230.6%)

ⓘ 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 ≥92°F today · 16 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: $33,240
• − Mortgage interest: −$14,004
• − Property taxes: −$753
• − Insurance: −$1,250
• − Repairs & maintenance: −$2,659
• − Management: −$2,659
• − Depreciation: −$7,273
• Taxable income: $4,642
• Est. tax owed @ 24.0%: −$1,114
• After-tax cash flow: $7,410/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): 24,428
• Household income: $70,963
• Rent vs Own: 29.3% rent · 70.7% own
• Severe rent burden: 602.0

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 (76%)
• Race & ethnicity: White 76% Hispanic / Latino 13% Two or more races 6% Black 5% Asian 2%
• Hispanic origin (detail): Puerto Rican 10% Cuban 1%
• Common ancestry: Romanian 16% Lithuanian 1% Subsaharan African 1%
• Foreign-born: 4% · Canada, Jamaica, China
• Languages at home: 90% English-only · Spanish 4% Chinese 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: ▼ -146.29%
• Current HPI: 402.5053
• Rent YoY: ▲ 7.62%
• 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

+171.7% since first listed

7 events — show timeline

• 2026-05-28 Listed $250,000 WNYREIS
• 2016-05-10 Sold (Public Records) $105,000 Public Records
• 2016-05-01 Sold (MLS) $105,000 WNYREIS
• 2016-02-29 Pending — WNYREIS
• 2016-02-10 Price Changed $109,900 WNYREIS
• 2016-02-03 Listed $119,900 WNYREIS
• 2010-08-16 Sold (Public Records) $92,000 Public Records

Property tax history

+2.6%/yr

Latest (2025): $753 · +22.1% YoY. Source: county tax records.