305 Parkdale Ave · Buffalo, NY 14213

$259,999

4 bd · 2.0 ba · 1,898 sqft · MultiFamily public records · 17 Days on market

Built 1900 1,927 sqft lot $137/sqft · 50% below area Est $518k · 50% 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 +12.2/30.0
• Appreciation +8.8/10.0
• Livability +3.9/5.0
• DSCR +3.6/10.0
• Schools +3.3/10.0
• Condition / age +2.5/5.0
• Rent growth +2.4/5.0
• 1% rule +2.2/10.0

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

Great Investor Opportunity! Featuring beautiful kitchens, fully updated bathrooms, New floors, New windows, this list goes on and on. Both units remodeled in 2021. This RENOVATED Beauty is just minutes from Elmwood Ave and ready for your next move!

Key facts

• New floors
• Remodeled
• New windows

Tags

• FULLY UPDATED BATHROOMS
• NEW FLOORS
• NEW WINDOWS
• REMODELED

What this means for you Summary

Snapshot

• This is a 4-bed/2.0-bath multifamily listed at $260k.

Deal economics

• At list price, monthly cash flow is $-53 ($-638/yr) — negative.
• To cash-flow at today's rent, offer at most $251k (3.6% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $188k (27.8% below list).
• Recommended offer: $188k (27.8% below list) — sets the bar for 1% rule.
• Cap rate 6.0% 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: Rents soft (-0.5%/yr); 138 active listings in the ZIP; 17 comparable units currently listed for rent nearby; rentals at typical pace (median 21d on market — plan ~3-4 weeks tenant-placement turnaround); 1,244 units permitted in Erie County in 2024 (563 in 5+ unit buildings).
• This rent runs 42% of the median local income ($54k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Forward outlook

• In year one you build about $21k of equity ($2k loan paydown + $20k appreciation (7.5% local appreciation)).
• At projected returns (7.5% appreciation + 0.0% rent growth), your $73k cash investment doubles in ~4 years — after that, you're playing with house money.
• By year 2, paydown + projected appreciation supports a ~$34k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 17 days — a 2% lower offer ($256k) is reasonable based on typical stale-listing flexibility.
• 5 sale attempts since 11y 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 $120k; list at $260k implies a 117% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1900 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $187,609 (27.8% below list)

Questions for the listing agent

1. What do current leases actually rent for vs. the listed asking? Can we see a recent rent roll and the last 12 months of T-12 income?
2. Built in 1900 — 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: 0.72% ✗
• Cap rate: 6.05%
• Cash-on-cash: -0.88%
• DSCR: 0.96
• GRM: 11.5

CMA / ARV

• ARV (median comp): $518,165
• List price: $259,999
• Delta: -49.82%
• 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
276 Potomac Ave	0.10mi	4/2.0	1,674 (-12%)	4mo	$167,000	$100	72
228 Potomac Ave	0.20mi	3/2.0 (-1)	1,782 (-6%)	10mo	$325,000	$182	68
427 Forest Ave	0.34mi	5/2.0 (+1)	2,068 (+9%)	1mo	$262,500	$127	63
92 Dewitt St	0.52mi	4/2.0	1,856 (-2%)	13mo	$60,000	$32	61
38 Ardmore Pl	0.23mi	5/2.0 (+1)	2,121 (+12%)	6mo	$230,000	$108	60
73 Baynes St	0.44mi	4/2.0	1,698 (-10%)	6mo	$199,900	$118	57
118 Auburn Ave	0.58mi	4/2.0	1,760 (-7%)	9mo	$260,000	$148	53
1072 West Ave	0.58mi	4/2.0	2,014 (+6%)	13mo	$125,000	$62	52
234 Dewitt St	0.40mi	5/3.0 (+1)	2,120 (+12%)	2mo	$59,000	$28	51
475 W Ferry St	0.60mi	3/2.0 (-1)	1,740 (-8%)	6mo	$236,900	$136	48
90 18th St	0.68mi	3/2.0 (-1)	1,959 (+3%)	15mo	$75,000	$38	45
1002 West Ave	0.67mi	5/2.0 (+1)	2,030 (+7%)	19mo	$175,000	$86	36

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

Projected returns pro-forma

7.51% appreciation · 0.0% rent growth · sell at horizon

5-year hold

• IRR: 17.3%
• Equity multiple: 2.24×
• Total profit: $90,032
• Equity at exit: $188,960

10-year hold

• IRR: 15.9%
• Equity multiple: 4.48×
• Total profit: $253,343
• Equity at exit: $367,195

Cash invested: $72,800 (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 14213

• Home prices YoY: 1.7%
• Rents YoY: -0.5%
• Active inventory: 138
• Price-to-rent: 11.5×

Monthly cashflow live

• Estimated rent: $1,876 high
• Mortgage (P&I): −$1,363
• Tax from tax record: −$64 /mo · $762/yr
• Insurance: −$108
• HOA: −$0
• Vacancy / Maint / Mgmt: −$394
• Net cashflow: $-53

Break-even live

Break-even rent $1,943

Max offer price $250,600

Occupancy floor 98%

Sensitivity live

Price	-10% $94	-5% $20	+0% $-53	+5% $-127	+10% $-200
Rent	-10% $-201	-5% $-127	+0% $-53	+5% $21	+10% $95
Rate	-1.0pp $78	-0.5pp $13	base $-53	+0.5pp $-121	+1.0pp $-189

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: $65,000
• Closing costs: $7,800
• Reserves months: —
• Total cash needed: —

Rent comps 17 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
836 Richmond Ave Buffalo, NY	4.0	3.5	1982	$4,500	$2.27	45d	1	0.33mi
311 Herkimer St #1 Buffalo, NY	3.0	1.0	1272	$1,400	$1.10	15d	1	0.33mi
40 Putnam St Buffalo, NY	4.0	1.0	1600	$2,100	$1.31	25d	1	0.43mi
83 Baynes St Unit Lower Buffalo, NY	3.0	1.0	2550	$1,850	$0.73	15d	1	0.44mi
100 Forest Ave Buffalo, NY	2.0–4.0	2.0–4.0	1304	$2,560	$1.96	3d	14	0.49mi
405 W Ferry St Unit Lower Buffalo, NY	3.0	1.0	2480	$1,500	$0.60	45d	1	0.61mi
740 Elmwood Ave Buffalo, NY	3.0	1.0	2000	$1,995	$1.00	15d	1	0.67mi
62 Germain St Buffalo, NY	3.0	1.0	1320	$1,250	$0.95	25d	1	1.05mi
161 16th St Buffalo, NY	3.0	1.5	1500	$2,000	$1.33	25d	1	1.07mi
78 Germain St Buffalo, NY	3.0	1.0	2030	$1,300	$0.64	15d	1	1.07mi
330 Bryant St Buffalo, NY	3.0	2.0	2224	$2,200	$0.99	21d	1	1.12mi
139 Fordham Dr Buffalo, NY	3.0	1.0	1453	$1,700	$1.17	25d	1	1.13mi
118 Ashland Ave Buffalo, NY	3.0	1.0	1326	$1,850	$1.40	15d	1	1.17mi
184 14th St Buffalo, NY	4.0	2.0	1950	$4,400	$2.26	25d	1	1.26mi
501 West Ave Buffalo, NY	3.0	1.0	2552	$1,700	$0.67	15d	1	1.29mi
501 West Ave Buffalo, NY	3.0	1.0	2552	$1,850	$0.72	21d	1	1.29mi
124 Normal Ave Unit 2 Buffalo, NY	3.0	1.0	1727	$2,000	$1.16	25d	1	1.39mi

Listing history 17 events

1. 2026-05-07
   status Pending 248-char remark

   Show marketing remark (248 chars)

   Great Investor Opportunity! Featuring beautiful kitchens, fully updated bathrooms, New floors, New windows, this list goes on and on. Both units remodeled in 2021. This RENOVATED Beauty is just minutes from Elmwood Ave and ready for your next move!

2. 2026-04-20
   listed $259,999 Active 248-char remark

   Show marketing remark (248 chars)

   Great Investor Opportunity! Featuring beautiful kitchens, fully updated bathrooms, New floors, New windows, this list goes on and on. Both units remodeled in 2021. This RENOVATED Beauty is just minutes from Elmwood Ave and ready for your next move!

3. 2025-07-16
   historical $1,300
4. 2025-06-15
   listed $1,300
5. 2022-10-03
   historical
6. 2022-09-07
   price $235,000
7. 2022-08-18
   price $250,000
8. 2022-07-09
   price $255,000
9. 2022-06-27
   price $260,000
10. 2022-06-16
    listed $264,999 Active
11. 2021-06-23
    soldstatus $120,000
12. 2021-06-22
    soldstatus $120,000 Closed Sale or Rented
13. 2021-04-21
    status Pending Sale
14. 2021-04-16
    listed $89,900 Active
15. 2015-09-23
    soldstatus $84,900 Closed Sale or Rented
16. 2015-05-31
    historical Under Contract- Do Not Show
17. 2015-05-30
    listed $84,900 Active

ⓘ 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: $762 · $64/mo
• Projected year-2 tax: $2,578 · $215/mo
• Expected delta: +$1,816/yr (+$151/mo · 238.2%)

ⓘ 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 · 14 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: $22,513
• − Mortgage interest: −$14,564
• − Property taxes: −$762
• − Insurance: −$1,300
• − Repairs & maintenance: −$1,801
• − Management: −$1,801
• − Depreciation: −$7,564
• Taxable loss: −$5,279
• Est. tax savings @ 24.0%: +$1,267
• After-tax cash flow: $628/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): 24,107
• Household income: $53,870
• Rent vs Own: 60.5% rent · 39.5% own
• Severe rent burden: 1501.0

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: Highly diverse neighborhood (Simpson 0.70)
• Race & ethnicity: White 46% Hispanic / Latino 20% Black 18% Asian 12% Two or more races 10%
• Hispanic origin (detail): Mexican 1% Puerto Rican 16% Dominican 1%
• Common ancestry: Romanian 6% Slovak 3% Lithuanian 3%
• Foreign-born: 16% · Philippines, Canada, India
• Languages at home: 68% English-only · Spanish 12% Other Asian/Pacific 7% Arabic 3%

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: ▲ 7.51%
• Current HPI: 448.4879
• Rent YoY: ▼ -0.49%
• 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

+206.2% since first listed

17 events — show timeline

• 2026-05-07 Pending — WNYREIS
• 2026-04-20 Listed $259,999 WNYREIS
• 2025-07-16 Rental Removed $1,300 Avail
• 2025-06-15 Listed for Rent $1,300 Avail
• 2022-10-03 Listing Removed — WNYREIS
• 2022-09-07 Price Changed $235,000 WNYREIS
• 2022-08-18 Price Changed $250,000 WNYREIS
• 2022-07-09 Price Changed $255,000 WNYREIS
• 2022-06-27 Price Changed $260,000 WNYREIS
• 2022-06-16 Listed $264,999 WNYREIS
• 2021-06-23 Sold (Public Records) $120,000 Public Records
• 2021-06-22 Sold (MLS) $120,000 WNYREIS
• 2021-04-21 Pending — WNYREIS
• 2021-04-16 Listed $89,900 WNYREIS
• 2015-09-23 Sold (MLS) $84,900 WNYREIS
• 2015-05-31 Contingent — WNYREIS
• 2015-05-30 Listed $84,900 WNYREIS

Property tax history

+10.2%/yr

Latest (2025): $762 · +0.0% YoY. Source: county tax records.