2047 Clinton St · Buffalo, NY 14206

$199,900

5 bd · 3.0 ba · 4,656 sqft · SingleFamily · 357 Days on market

Built 1920 7,758 sqft lot $43/sqft · 27% below area Est $275k · 27% 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).

• ARV discount +15.0/15.0
• Cash flow +13.5/30.0
• Appreciation +9.0/10.0
• DSCR +4.1/10.0
• Livability +3.9/5.0
• 1% rule +3.8/10.0
• Schools +3.3/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0

Listing remarks MLS

Great investment opportunity on busy Clinton Street in Kaisertown! The parking lot accommodates 8–10 cars. Perfect for an owner-occupant or investor — live in one unit and rent out the others. The property includes a storefront space of approximately 600 sq. ft. , previously rented for $1,500/month, a 2-bedroom upper apartment that previously rented for $900/month, and a very spacious 3-bedroom, 2-story lower unit with additional rooms that was previously rented for $1,500/month. Features beautiful natural woodwork and hardwood floors throughout. Updates include a newer roof (2011), updated electric, and a tankless hot water system in one unit. New main sewer line 8/2025. Gas meters have been relocated outside by National Fuel 7/2025. The upper and lower units are on boiler heat, while the storefront features forced air with AC. Separate utilities for each unit, except water. Also listed as a commercial property, B1602930. Property being sold "As Is Condition" Price reduced to reflect repairs needed.

Key facts

• Natural woodwork
• Newer roof
• Investment property

Tags

• INVESTMENT PROPERTY
• STORE FRONT
• NATURAL WOODWORK
• HARDWOOD FLOORS
• PARKING LOT
• NEWER ROOF

🏷️ Possibly a rental listed for sale. The $199,900 price doesn't fit this home's estimated sale value (~$275,176) and the remarks read like a rental — treat the cards below with caution.

What this means for you Summary

Snapshot

• This is a 5-bed/3.0-bath single-family listed at $200k.

Deal economics

• At list price, monthly cash flow is $6 ($74/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 $176k (12.1% below list).
• Recommended offer: $176k (12.1% below list) — sets the bar for 1% rule.
• Cap rate 6.3% vs local median 8.0% in Buffalo — below-typical yield; the buyer is paying a premium for something (appreciation thesis, condition, location) that the cap rate doesn't capture.

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; 1,244 units permitted in Erie County in 2024 (563 in 5+ unit buildings).
• This rent runs 42% 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 $17k of equity ($1k loan paydown + $16k appreciation (8.1% local appreciation)).
• At projected returns (8.1% appreciation + 3.0% rent growth), your $56k cash investment doubles in ~3 years — after that, you're playing with house money.
• By year 3, paydown + projected appreciation supports a ~$44k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 357 days — a 12% lower offer ($176k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 13y ago; this cycle's ask has dropped $100k (33%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Watch-outs: built in 1920 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $175,646 (12.1% below list)

Questions for the listing agent

1. It's been on market 357 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Built in 1920 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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?
6. 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.
7. 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.
8. 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: 0.88% ✗
• Cap rate: 6.33%
• Cash-on-cash: 0.13%
• DSCR: 1.01
• GRM: 9.5

CMA / ARV

• ARV (median comp): $275,176
• List price: $199,900
• Delta: -27.36%
• Verdict: UNDERPRICED
• Comps: 2 within 2.0 mi

Projected returns pro-forma

8.06% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 20.2%
• Equity multiple: 2.49×
• Total profit: $83,512
• Equity at exit: $152,664

10-year hold

• IRR: 18.8%
• Equity multiple: 5.33×
• Total profit: $242,091
• Equity at exit: $303,797

Cash invested: $55,972 (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: 9.5×

Monthly cashflow live

• Estimated rent: $1,756 medium
• Mortgage (P&I): −$1,048
• Tax est. 1.5%: −$250 /mo · $2,998/yr
• Insurance: −$83
• HOA: −$0
• Vacancy / Maint / Mgmt: −$369
• Net cashflow: $6

Break-even live

Break-even rent $1,749

Max offer price $199,900

Occupancy floor 95%

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: $49,975
• Closing costs: $5,997
• Reserves months: —
• Total cash needed: —

Listing history 21 events

1. 2026-06-18
   days on market $199,900 Active 357 DOM
2. 2026-06-17
   days on market $199,900 Active 356 DOM
3. 2026-06-16
   days on market $199,900 Active 355 DOM
4. 2026-06-15
   days on market $199,900 Active 354 DOM
5. 2026-06-13
   days on market $199,900 Active 352 DOM
6. 2026-06-13
   days on market $199,900 Active 351 DOM
7. 2026-06-10
   days on market $199,900 Active 349 DOM
8. 2026-06-09
   days on market $199,900 Active 348 DOM
9. 2026-06-08
   days on market $199,900 Active 347 DOM
10. 2026-06-07
    days on market $199,900 Active 346 DOM
11. 2026-06-03
    days on market $199,900 Active 342 DOM
12. 2026-06-02
    days on market $199,900 Active 341 DOM
13. 2026-06-01
    days on market $199,900 Active 340 DOM
14. 2026-05-31
    days on market $199,900 Active 339 DOM
15. 2026-05-01
    price $199,900 1039-char remark

    Show marketing remark (1039 chars)

    Great investment opportunity on busy Clinton Street in Kaisertown! The parking lot accommodates 8–10 cars. Perfect for an owner-occupant or investor — live in one unit and rent out the others. The property includes a storefront space of approximately 600 sq. ft. , previously rented for $1,500/month, a 2-bedroom upper apartment that previously rented for $900/month, and a very spacious 3-bedroom, 2-story lower unit with additional rooms that was previously rented for $1,500/month. Features beautiful natural woodwork and hardwood floors throughout. Updates include a newer roof (2011), updated electric, and a tankless hot water system in one unit. New main sewer line 8/2025. Gas meters have been relocated outside by National Fuel 7/2025. The upper and lower units are on boiler heat, while the storefront features forced air with AC. Separate utilities for each unit, except water. Also listed as a commercial property, B1602930. Property being sold "As Is Condition" Price reduced to reflect repairs needed.

16. 2026-03-19
    price $219,900 1039-char remark

    Show marketing remark (1039 chars)

    Great investment opportunity on busy Clinton Street in Kaisertown! The parking lot accommodates 8–10 cars. Perfect for an owner-occupant or investor — live in one unit and rent out the others. The property includes a storefront space of approximately 600 sq. ft. , previously rented for $1,500/month, a 2-bedroom upper apartment that previously rented for $900/month, and a very spacious 3-bedroom, 2-story lower unit with additional rooms that was previously rented for $1,500/month. Features beautiful natural woodwork and hardwood floors throughout. Updates include a newer roof (2011), updated electric, and a tankless hot water system in one unit. New main sewer line 8/2025. Gas meters have been relocated outside by National Fuel 7/2025. The upper and lower units are on boiler heat, while the storefront features forced air with AC. Separate utilities for each unit, except water. Also listed as a commercial property, B1602930. Property being sold "As Is Condition" Price reduced to reflect repairs needed.

17. 2026-02-06
    price $229,900 1039-char remark

    Show marketing remark (1039 chars)

    Great investment opportunity on busy Clinton Street in Kaisertown! The parking lot accommodates 8–10 cars. Perfect for an owner-occupant or investor — live in one unit and rent out the others. The property includes a storefront space of approximately 600 sq. ft. , previously rented for $1,500/month, a 2-bedroom upper apartment that previously rented for $900/month, and a very spacious 3-bedroom, 2-story lower unit with additional rooms that was previously rented for $1,500/month. Features beautiful natural woodwork and hardwood floors throughout. Updates include a newer roof (2011), updated electric, and a tankless hot water system in one unit. New main sewer line 8/2025. Gas meters have been relocated outside by National Fuel 7/2025. The upper and lower units are on boiler heat, while the storefront features forced air with AC. Separate utilities for each unit, except water. Also listed as a commercial property, B1602930. Property being sold "As Is Condition" Price reduced to reflect repairs needed.

18. 2025-12-05
    price $259,900 1039-char remark

    Show marketing remark (1039 chars)

    Great investment opportunity on busy Clinton Street in Kaisertown! The parking lot accommodates 8–10 cars. Perfect for an owner-occupant or investor — live in one unit and rent out the others. The property includes a storefront space of approximately 600 sq. ft. , previously rented for $1,500/month, a 2-bedroom upper apartment that previously rented for $900/month, and a very spacious 3-bedroom, 2-story lower unit with additional rooms that was previously rented for $1,500/month. Features beautiful natural woodwork and hardwood floors throughout. Updates include a newer roof (2011), updated electric, and a tankless hot water system in one unit. New main sewer line 8/2025. Gas meters have been relocated outside by National Fuel 7/2025. The upper and lower units are on boiler heat, while the storefront features forced air with AC. Separate utilities for each unit, except water. Also listed as a commercial property, B1602930. Property being sold "As Is Condition" Price reduced to reflect repairs needed.

19. 2025-09-10
    price $275,000 1039-char remark

    Show marketing remark (1039 chars)

    Great investment opportunity on busy Clinton Street in Kaisertown! The parking lot accommodates 8–10 cars. Perfect for an owner-occupant or investor — live in one unit and rent out the others. The property includes a storefront space of approximately 600 sq. ft. , previously rented for $1,500/month, a 2-bedroom upper apartment that previously rented for $900/month, and a very spacious 3-bedroom, 2-story lower unit with additional rooms that was previously rented for $1,500/month. Features beautiful natural woodwork and hardwood floors throughout. Updates include a newer roof (2011), updated electric, and a tankless hot water system in one unit. New main sewer line 8/2025. Gas meters have been relocated outside by National Fuel 7/2025. The upper and lower units are on boiler heat, while the storefront features forced air with AC. Separate utilities for each unit, except water. Also listed as a commercial property, B1602930. Property being sold "As Is Condition" Price reduced to reflect repairs needed.

20. 2025-06-26
    listed $299,999 Active 1039-char remark

    Show marketing remark (1039 chars)

    Great investment opportunity on busy Clinton Street in Kaisertown! The parking lot accommodates 8–10 cars. Perfect for an owner-occupant or investor — live in one unit and rent out the others. The property includes a storefront space of approximately 600 sq. ft. , previously rented for $1,500/month, a 2-bedroom upper apartment that previously rented for $900/month, and a very spacious 3-bedroom, 2-story lower unit with additional rooms that was previously rented for $1,500/month. Features beautiful natural woodwork and hardwood floors throughout. Updates include a newer roof (2011), updated electric, and a tankless hot water system in one unit. New main sewer line 8/2025. Gas meters have been relocated outside by National Fuel 7/2025. The upper and lower units are on boiler heat, while the storefront features forced air with AC. Separate utilities for each unit, except water. Also listed as a commercial property, B1602930. Property being sold "As Is Condition" Price reduced to reflect repairs needed.

21. 2013-10-23
    listed $135,900

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Taxation est. · year 1

• Rental income: $21,078
• − Mortgage interest: −$11,198
• − Property taxes: −$2,998
• − Insurance: −$1,000
• − Repairs & maintenance: −$1,686
• − Management: −$1,686
• − Depreciation: −$5,815
• Taxable loss: −$3,306
• Est. tax savings @ 24.0%: +$793
• After-tax cash flow: $867/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

+47.1% since first listed

7 events — show timeline

• 2026-05-01 Price Changed $199,900 WNYREIS
• 2026-03-19 Price Changed $219,900 WNYREIS
• 2026-02-06 Price Changed $229,900 WNYREIS
• 2025-12-05 Price Changed $259,900 WNYREIS
• 2025-09-10 Price Changed $275,000 WNYREIS
• 2025-06-26 Listed $299,999 WNYREIS
• 2013-10-23 Listed $135,900 WNYREIS