269 Sterling Ave · Buffalo, NY 14216

$434,000

6 bd · 3.0 ba · 2,968 sqft · MultiFamily public records · 12 Days on market

Built 1925 4,585 sqft lot Est $410k · 6% over

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Why this score? — see what drove the D 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 +14.9/30.0
• ARV discount +4.8/15.0
• DSCR +4.6/10.0
• 1% rule +4.1/10.0
• Livability +3.9/5.0
• Rent growth +3.4/5.0
• 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: 3 units. confirmed

Listing remarks

Discover this exceptional 3-unit multi-family home on Sterling Avenue in desirable North Buffalo! Perfect for investors or owner-occupants seeking income-producing property with strong rental demand, this solid 1925-built building offers approximately 2,968 square feet of living space across three spacious units. Each unit provides comfortable living with a great layout, natural light, and classic Buffalo charm. The property features off-street parking and a two-car garage, a major plus for tenants and rare in the area. Situated on a manageable lot, this building is well-positioned for long-term appreciation in one of North Buffalo’s most convenient and sought-after neighborhoods&mdas

Key facts

• Manageable lot
• Multi-family home
• Off-street parking

Tags

• MULTI-FAMILY HOME
• OFF-STREET PARKING
• TWO-CAR GARAGE
• MANAGEABLE LOT
• CONVENIENT NEIGHBORHOOD

Property features AI

Finance

• Financial info: Owner pays electricity for rental units; Operating expenses include electric, insurance, and water/sewer; One unit currently rented month-to-month for $480

Exterior

• Parking: Detached or attached garage with two garage spaces; Concrete driveway/parking; Two or more parking spaces
• Utilities: Electricity connected; Public water connected; Sewer connected
• Home design: Two-story multi-family building; Resale property
• Construction: Brick and frame construction; Asphalt roof; Poured foundation; Existing (previously built) structure
• Exterior features: Balcony

Interior

• Kitchen: Oven/range and refrigerator included in each unit; Units feature dining area with kitchen or eat-in kitchen
• Bedrooms: Three 3-bedroom units (unit counts by unit type: one 3-bed, one 2-bed, one 1-bed)
• Flooring: Carpet; Hardwood; Laminate; Varies by unit
• Bathrooms: Three full bathrooms (one per unit)
• Heating & cooling: Gas heating with baseboard systems
• Interior features: Full basement; Varied flooring including carpet, hardwood and laminate
• Laundry & utility: Washer hookup available; Gas water heater

What this means for you Summary

Snapshot

• This is a 3 × 2-bed/1.0-bath units multifamily listed at $434k.

Deal economics

• At list price, monthly cash flow is $129 ($2k/yr) — positive. Per door: $43/mo.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $396k (8.8% below list).
• Recommended offer: $396k (8.8% below list) — sets the bar for 1% rule.

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 (+3.6%/yr); 91 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 $3,960/mo this rent would consume 68% of the median local household income ($70k/yr) (locally 1831% 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 $3k of loan paydown is wiped out by about $13k of value loss. Plan a longer hold.

Negotiation context

• Only 12 days on market — expect competitive offers; lowballing is unlikely to land.
• 2 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.

Risks & watch-outs

• Watch-outs: built in 1925 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $396,000 (8.8% below list)

Questions for the listing agent

1. Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
2. What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
3. Built in 1925 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
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. The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?
7. 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.
8. 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.
9. 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: 0.91% ✗
• Cap rate: 6.65%
• Cash-on-cash: 1.28%
• DSCR: 1.06
• GRM: 9.1

CMA / ARV

• ARV (on-the-fly): $409,584
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
162 N Park Ave	0.27mi	6/2.0	2,876 (-3%)	8mo	$407,500	$142	72
310 Colvin Ave	0.39mi	6/2.0	2,829 (-5%)	1mo	$367,000	$130	69
21 Sterling Ave	0.49mi	6/2.0	2,910 (-2%)	2mo	$441,000	$152	68
415 Colvin Ave	0.30mi	6/2.0	2,738 (-8%)	8mo	$360,000	$131	63
12 Lovering Ave	0.61mi	6/2.0	2,876 (-3%)	5mo	$294,000	$102	58
246 Crestwood Ave	0.41mi	6/3.0	2,665 (-10%)	7mo	$430,000	$161	58
32 Sterling Ave	0.47mi	6/3.0	2,662 (-10%)	7mo	$470,300	$177	55
190 Commonwealth Ave	0.49mi	6/2.0	2,672 (-10%)	4mo	$310,000	$116	53
329 Huntington Ave	0.57mi	5/2.0 (-1)	2,886 (-3%)	8mo	$392,500	$136	53
24 Lovering Ave	0.60mi	6/2.0	2,716 (-8%)	4mo	$340,000	$125	50
1164 Hertel Ave	0.69mi	5/3.0 (-1)	2,702 (-9%)	2mo	$420,000	$155	46
245 Tacoma Ave	0.55mi	6/2.0	2,544 (-14%)	8mo	$350,000	$138	40

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 · 3.65% rent growth · sell at horizon

5-year hold

• IRR: -13.5%
• Equity multiple: 0.51×
• Total profit: $-59,436
• Equity at exit: $64,711

10-year hold

• IRR: -3.6%
• Equity multiple: 0.75×
• Total profit: $-30,086
• Equity at exit: $37,524

Cash invested: $121,520 (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 14216

• Rents YoY: 3.6%
• Active inventory: 91
• Price-to-rent: 27.4×

Monthly cashflow live

• Estimated rent: $3,960 high
• Mortgage (P&I): −$2,276
• Tax est. 1.5%: −$542 /mo · $6,510/yr
• Insurance: −$181
• HOA: −$0
• Vacancy / Maint / Mgmt: −$832
• Net cashflow: $129

Break-even live

Break-even rent $3,797

Max offer price $434,000

Occupancy floor 92%

Sensitivity live

Price	-10% $429	-5% $279	+0% $129	+5% $-21	+10% $-171
Rent	-10% $-184	-5% $-27	+0% $129	+5% $286	+10% $442
Rate	-1.0pp $348	-0.5pp $240	base $129	+0.5pp $17	+1.0pp $-98

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

Units	Beds	Baths	Est. rent
▸ 3× units	2	1	$3,960
Total (3 units)			$3,960

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: $108,500
• Closing costs: $13,020
• Reserves months: —
• Total cash needed: —

Rent comps 4 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
196 Englewood Ave Buffalo, NY	5.0	1.5	2560	$2,000	$0.78	3d	1	1.19mi
133 Merrimac St Buffalo, NY	7.0	2.0	2327	$4,450	$1.91	16d	1	1.20mi
24 Custer St Buffalo, NY	5.0	2.0	2500	$3,000	$1.20	16d	1	1.27mi
85 Highgate Ave Buffalo, NY	5.0	2.0	2193	$3,750	$1.71	16d	1	1.46mi

Listing history 9 events

1. 2026-06-21
   days on market $434,000 Active 12 DOM
2. 2026-06-18
   days on market $434,000 Active 9 DOM
3. 2026-06-17
   days on market $434,000 Active 8 DOM
4. 2026-06-16
   days on market $434,000 Active 7 DOM
5. 2026-06-15
   days on market $434,000 Active 6 DOM
6. 2026-06-13
   days on market $434,000 Active 4 DOM
7. 2026-06-13
   days on market $434,000 Active 3 DOM
8. 2026-06-10
   remarks 693-char remark
9. 2026-06-10
   listed $434,000 Active 1 DOM

ⓘ 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 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 · 15 d/yr by 30 yrs out
• 💨 Wind 1/10 Low
• 🫁 Air quality 3/10 Moderate 3 unhealthy d/yr today · 4 by 30 yrs out

Taxation est. · year 1

• Rental income: $47,520
• − Mortgage interest: −$24,311
• − Property taxes: −$6,510
• − Insurance: −$2,170
• − Repairs & maintenance: −$3,802
• − Management: −$3,802
• − Depreciation: −$12,625
• Taxable loss: −$5,699
• Est. tax savings @ 24.0%: +$1,368
• After-tax cash flow: $2,917/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): 22,849
• Household income: $69,629
• Rent vs Own: 54.4% rent · 45.6% own
• Severe rent burden: 1831.0

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 (72%)
• Race & ethnicity: White 72% Black 16% Hispanic / Latino 7% Two or more races 5% Asian 1%
• Hispanic origin (detail): Puerto Rican 5%
• Common ancestry: Romanian 10% Iranian 2% Lithuanian 1%
• Foreign-born: 5% · Canada, China
• Languages at home: 90% English-only · Spanish 5% French/Haitian/Cajun 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: ▼ -264.53%
• Current HPI: 421.1138
• Rent YoY: ▲ 3.65%
• 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

+106.8% since first listed

5 events — show timeline

• 2026-06-09 Listed $434,000 WNYREIS
• 2015-05-18 Price Changed $215,000 WNYREIS
• 2015-05-15 Pending — WNYREIS
• 2015-05-13 Listed $209,900 WNYREIS
• 2015-05-02 Listing Removed — WNYREIS

Property tax history

+4.7%/yr

Latest (2025): $441 · -23.9% YoY. Source: county tax records.