93 Gatchell St · Buffalo, NY 14212

$134,900

4 bd · 2.0 ba · 2,080 sqft · MultiFamily public records · 157 Days on market

Built 1910 3,300 sqft lot $65/sqft · 27% below area Est $184k · 27% under

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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
• ARV discount +15.0/15.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• Appreciation +10.0/10.0
• Livability +3.9/5.0
• Schools +3.3/10.0
• Rent growth +2.5/5.0
• 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

Welcome to 93 Gatchell Street, a well-maintained 3/3 double offering a strong opportunity for both owner-occupants and investors. Each unit features 3 bedrooms and 1 full bathroom, providing spacious and functional living layouts. The property offers vinyl flooring throughout, solid mechanics, and a fenced yard for outdoor enjoyment. The rear unit includes a first-floor layout with in-unit laundry, adding convenience and appeal. The property is currently rented for a total of $1,930 per month, delivering immediate income potential. Conveniently located near shopping, public transportation, and neighborhood amenities, this multi-family home combines space, functionality, and cash-flow potential. A great opportunity to own a solid income-producing property

Key facts

• Vinyl flooring
• Income potential
• Fenced yard

Tags

• VINYL FLOORING
• FENCED YARD
• FIRST-FLOOR LAYOUT
• IN-UNIT LAUNDRY
• INCOME POTENTIAL
• NEAR SHOPPING

🏷️ Possibly a rental listed for sale. The $134,900 price doesn't fit this home's estimated sale value (~$184,436) and the remarks read like a rental — treat the cards below with caution.

What this means for you Summary

Snapshot

• This is a 4-bed/2.0-bath multifamily listed at $135k.

Deal economics

• At list price, monthly cash flow is $2k ($20k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $135k).
• Recommended offer: $119k (12.0% below list) — sets the bar for market timing.
• Cap rate 21.2% 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.
• Market conditions: 84 active listings in the ZIP; 7 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).

Forward outlook

• In year one you build about $14k of equity ($933 loan paydown + $13k appreciation (10.0% local appreciation)).
• At projected returns (10.0% appreciation + 3.0% rent growth), your $38k cash investment doubles in ~2 years — after that, you're playing with house money.
• By year 3, paydown + projected appreciation supports a ~$37k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 157 days — a 12% lower offer ($119k) is reasonable based on typical stale-listing flexibility.
• Current owner paid $27k; list at $135k implies a 400% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1910 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: moderate flood risk — expect insurance premiums to compound above CPI over the hold.

Recommended offer $118,712 (12.0% below list)

Questions for the listing agent

1. It's been on market 157 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 1910 — 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 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: 2.45% ✓
• Cap rate: 21.19%
• Cash-on-cash: 53.21%
• DSCR: 3.37
• GRM: 3.4

CMA / ARV

• ARV (median comp): $184,436
• List price: $134,900
• Delta: -26.86%
• 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
86 Shepard St	0.08mi	5/2.0 (+1)	2,024 (-3%)	2mo	$165,000	$82	85
56 Shepard St	0.12mi	5/2.0 (+1)	2,093 (+1%)	5mo	$88,000	$42	84
80 Liddell St	0.29mi	5/2.0 (+1)	2,099 (+1%)	1mo	$68,000	$32	79
81 Schutrum St	0.17mi	5/2.0 (+1)	2,149 (+3%)	10mo	$100,000	$47	74
112 Liddell St	0.29mi	5/2.0 (+1)	2,031 (-2%)	6mo	$65,000	$32	72
55 Keystone St	0.34mi	5/2.0 (+1)	2,068 (-1%)	8mo	$130,000	$63	71
49 Howlett St	0.70mi	4/2.0	2,178 (+5%)	1mo	$120,000	$55	59
1362 Bailey Ave	0.57mi	4/2.0	1,892 (-9%)	5mo	$197,081	$104	54
65 Goembel Ave	0.47mi	5/2.0 (+1)	1,910 (-8%)	8mo	$110,000	$58	53
19 Moeller St	0.75mi	4/2.0	1,920 (-8%)	10mo	$152,000	$79	44
221 May St	0.49mi	5/2.0 (+1)	1,794 (-14%)	8mo	$91,000	$51	43
227 Ashley St	0.52mi	5/2.0 (+1)	1,776 (-15%)	5mo	$145,000	$82	42

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 · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 66.3%
• Equity multiple: 5.77×
• Total profit: $180,185
• Equity at exit: $121,529

10-year hold

• IRR: 60.0%
• Equity multiple: 12.83×
• Total profit: $446,833
• Equity at exit: $262,081

Cash invested: $37,772 (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 14212

• Home prices YoY: 20.4%
• Active inventory: 84
• Price-to-rent: 10.2×

Monthly cashflow live

• Estimated rent: $3,300 medium
• Mortgage (P&I): −$707
• Tax est. 1.5%: −$169 /mo · $2,024/yr
• Insurance: −$56
• HOA: −$0
• Vacancy / Maint / Mgmt: −$693
• Net cashflow: $1,675

Break-even live

Break-even rent $1,180

Max offer price $134,900

Occupancy floor 44%

Sensitivity live

Price	-10% $1,768	-5% $1,721	+0% $1,675	+5% $1,628	+10% $1,582
Rent	-10% $1,414	-5% $1,544	+0% $1,675	+5% $1,805	+10% $1,935
Rate	-1.0pp $1,743	-0.5pp $1,709	base $1,675	+0.5pp $1,640	+1.0pp $1,604

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

Units	Beds	Baths	Est. rent
▸ 3× units	3	1	$3,300
Total (3 units)			$3,300

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: $33,725
• Closing costs: $4,047
• Reserves months: —
• Total cash needed: —

Rent comps 7 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
96 Academy Rd Buffalo, NY	3.0	1.0	2247	$1,400	$0.62	25d	1	0.75mi
517 Goodyear Ave Buffalo, NY	3.0	1.0	1559	$1,800	$1.15	20d	1	0.80mi
979 Walden Ave Buffalo, NY	4.0	3.0	1793	$2,000	$1.12	3d	1	0.90mi
79 Walden Ave Buffalo, NY	3.0	1.0	2528	$1,250	$0.49	45d	1	0.96mi
65 Domedion Ave Buffalo, NY	3.0	1.0	1632	$1,500	$0.92	3d	1	1.27mi
518 Wilson St Buffalo, NY	5.0	1.5	1848	$1,500	$0.81	25d	1	1.28mi
1202 Walden Ave Unit 3 Buffalo, NY	3.0	1.0	1500	$1,400	$0.93	18d	1	1.30mi

Listing history 20 events

1. 2026-06-21
   days on market $134,900 Active 157 DOM
2. 2026-06-18
   days on market $134,900 Active 154 DOM
3. 2026-06-17
   days on market $134,900 Active 153 DOM
4. 2026-06-16
   days on market $134,900 Active 152 DOM
5. 2026-06-15
   days on market $134,900 Active 151 DOM
6. 2026-06-13
   days on market $134,900 Active 149 DOM
7. 2026-06-13
   days on market $134,900 Active 148 DOM
8. 2026-06-10
   days on market $134,900 Active 146 DOM
9. 2026-06-09
   days on market $134,900 Active 145 DOM
10. 2026-06-08
    days on market $134,900 Active 144 DOM
11. 2026-06-07
    pricedays on market $134,900 Active 143 DOM
12. 2026-06-03
    days on market $146,900 Active 139 DOM
13. 2026-06-02
    days on market $146,900 Active 138 DOM
14. 2026-06-01
    days on market $146,900 Active 137 DOM
15. 2026-05-31
    days on market $146,900 Active 136 DOM
16. 2026-04-16
    price $146,900 764-char remark

    Show marketing remark (764 chars)

    Welcome to 93 Gatchell Street, a well-maintained 3/3 double offering a strong opportunity for both owner-occupants and investors. Each unit features 3 bedrooms and 1 full bathroom, providing spacious and functional living layouts. The property offers vinyl flooring throughout, solid mechanics, and a fenced yard for outdoor enjoyment. The rear unit includes a first-floor layout with in-unit laundry, adding convenience and appeal. The property is currently rented for a total of $1,930 per month, delivering immediate income potential. Conveniently located near shopping, public transportation, and neighborhood amenities, this multi-family home combines space, functionality, and cash-flow potential. A great opportunity to own a solid income-producing property

17. 2026-02-21
    price $147,100 764-char remark

    Show marketing remark (764 chars)

    Welcome to 93 Gatchell Street, a well-maintained 3/3 double offering a strong opportunity for both owner-occupants and investors. Each unit features 3 bedrooms and 1 full bathroom, providing spacious and functional living layouts. The property offers vinyl flooring throughout, solid mechanics, and a fenced yard for outdoor enjoyment. The rear unit includes a first-floor layout with in-unit laundry, adding convenience and appeal. The property is currently rented for a total of $1,930 per month, delivering immediate income potential. Conveniently located near shopping, public transportation, and neighborhood amenities, this multi-family home combines space, functionality, and cash-flow potential. A great opportunity to own a solid income-producing property

18. 2026-01-16
    price $147,600 764-char remark

    Show marketing remark (764 chars)

    Welcome to 93 Gatchell Street, a well-maintained 3/3 double offering a strong opportunity for both owner-occupants and investors. Each unit features 3 bedrooms and 1 full bathroom, providing spacious and functional living layouts. The property offers vinyl flooring throughout, solid mechanics, and a fenced yard for outdoor enjoyment. The rear unit includes a first-floor layout with in-unit laundry, adding convenience and appeal. The property is currently rented for a total of $1,930 per month, delivering immediate income potential. Conveniently located near shopping, public transportation, and neighborhood amenities, this multi-family home combines space, functionality, and cash-flow potential. A great opportunity to own a solid income-producing property

19. 2026-01-15
    listed $145,500 Active 764-char remark

    Show marketing remark (764 chars)

    Welcome to 93 Gatchell Street, a well-maintained 3/3 double offering a strong opportunity for both owner-occupants and investors. Each unit features 3 bedrooms and 1 full bathroom, providing spacious and functional living layouts. The property offers vinyl flooring throughout, solid mechanics, and a fenced yard for outdoor enjoyment. The rear unit includes a first-floor layout with in-unit laundry, adding convenience and appeal. The property is currently rented for a total of $1,930 per month, delivering immediate income potential. Conveniently located near shopping, public transportation, and neighborhood amenities, this multi-family home combines space, functionality, and cash-flow potential. A great opportunity to own a solid income-producing property

20. 2007-08-13
    soldstatus $27,000

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

Climate risk First Street

• 🌊 Flood 5/10 Major FEMA zone X (unshaded) · 65% 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: $39,600
• − Mortgage interest: −$7,556
• − Property taxes: −$2,024
• − Insurance: −$674
• − Repairs & maintenance: −$3,168
• − Management: −$3,168
• − Depreciation: −$3,924
• Taxable income: $19,085
• Est. tax owed @ 24.0%: −$4,580
• After-tax cash flow: $15,516/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
• City population: 440,021
• Population (ZIP): 13,603

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 0.75)
• Race & ethnicity: White 32% Black 27% Asian 25% Hispanic / Latino 9% Two or more races 8%
• Hispanic origin (detail): Puerto Rican 8%
• Common ancestry: Romanian 12% Serbian 1% Lithuanian 1%
• Foreign-born: 20% · Philippines, Canada, China
• Languages at home: 68% English-only · Other Indo-European 18% Spanish 4% Other Asian/Pacific 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: ▲ 79.80%
• Current HPI: 471.6399
• 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

+444.1% since first listed

5 events — show timeline

• 2026-04-16 Price Changed $146,900 WNYREIS
• 2026-02-21 Price Changed $147,100 WNYREIS
• 2026-01-16 Price Changed $147,600 WNYREIS
• 2026-01-15 Listed $145,500 WNYREIS
• 2007-08-13 Sold (Public Records) $27,000 Public Records

Property tax history

+1.1%/yr

Latest (2025): $135 · +0.0% YoY. Source: county tax records.