302 Massachusetts Ave · Buffalo, NY 14213

$199,900

4 bd · 1.5 ba · 2,042 sqft · SingleFamily public records · 29 Days on market

Built 1880 4,000 sqft lot Est $376k · 47% 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).

• Cash flow +16.6/30.0
• ARV discount +15.0/15.0
• Appreciation +8.8/10.0
• DSCR +5.2/10.0
• 1% rule +4.5/10.0
• Livability +3.9/5.0
• Schools +3.3/10.0
• Condition / age +2.5/5.0
• Rent growth +2.4/5.0

Listing remarks

Welcome home to this spacious and opportunity-filled 5-bedroom, 1.5-bath home in the heart of Buffalo’s vibrant West Side! This home is packed with character, charm, and endless potential to truly make it your own. Enjoy the convenience of city living with easy access to public transportation, popular coffee shops, restaurants, parks, and the vibrant walkable lifestyle the West Side is known for. As soon as you arrive, you’re welcomed by a covered front porch, perfect for relaxing. The home also offers a driveway parking spot in addition to street parking for added convenience. Step inside to find a large living room and formal dining room with hardwood floors underneath the car

Key facts

• Covered front porch
• Half bath
• Formal dining room

Tags

• COVERED FRONT PORCH
• DRIVEWAY PARKING SPOT
• HARDWOOD FLOORS
• LARGE LIVING ROOM
• FORMAL DINING ROOM
• HALF BATH

Property features AI

Finance

• Other: Rectangular lot with 32x125 dimensions; Lot near public transit

Exterior

• Parking: No garage
• Utilities: Public water connected; Sewer connected; Circuit breaker electric service
• Home design: 2-story house; Existing construction
• Construction: Composite siding; Vinyl siding; Stone foundation
• Exterior features: Concrete driveway; Partial fencing; Covered porch

Interior

• Kitchen: Gas oven; Gas range; Refrigerator
• Bedrooms: 1 bedroom on the main level
• Flooring: Carpet; Ceramic tile; Varies
• Bathrooms: 1 full bathroom; 1 half bathroom; 1 main-level bathroom
• Heating & cooling: Gas heating; Forced air heating
• Interior features: Separate/formal dining room; Eat-in kitchen; Separate/formal living room; Bedroom on main level; Full basement
• Laundry & utility: Gas water heater

What this means for you Summary

Snapshot

• This is a 4-bed/1.5-bath single-family listed at $200k.

Deal economics

• At list price, monthly cash flow is $65 ($782/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 $190k (4.9% below list).
• Recommended offer: $190k (4.9% 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.
• Market conditions: Rents soft (-0.5%/yr); 137 active listings in the ZIP; 15 comparable units currently listed for rent nearby; rentals at typical pace (median 20d 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 $16k of equity ($1k loan paydown + $15k appreciation (7.5% local appreciation)).
• At projected returns (7.5% appreciation + 0.0% rent growth), your $56k cash investment doubles in ~4 years — after that, you're playing with house money.
• By year 3, paydown + projected appreciation supports a ~$41k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 29 days — a 2% lower offer ($197k) is reasonable based on typical stale-listing flexibility.
• Current owner paid $36k; list at $200k implies a 455% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: flood insurance adds $56/mo; built in 1880 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: major flood risk — expect insurance premiums to compound above CPI over the hold.

Recommended offer $190,153 (4.9% below list)

Questions for the listing agent

1. Built in 1880 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
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 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: 0.95% ✗
• Cap rate: 7.02%
• Cash-on-cash: 2.59%
• DSCR: 1.12
• GRM: 8.8

CMA / ARV

• ARV (on-the-fly): $375,728
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
36 Lawrence Pl	0.10mi	4/1.5	2,089 (+2%)	5mo	$295,000	$141	88
419 Normal Ave	0.10mi	4/2.0	1,994 (-2%)	11mo	$377,000	$189	80
71 Hoyt St	0.46mi	4/2.0	2,160 (+6%)	2mo	$190,000	$88	66
264 Highland Ave	0.58mi	4/1.5	1,972 (-3%)	6mo	$280,000	$142	62
20 Chenango St	0.37mi	4/1.5	1,824 (-11%)	8mo	$175,000	$96	58
128 Dewitt St	0.67mi	4/2.0	2,064 (+1%)	10mo	$380,000	$184	57
555 W Ferry St	0.58mi	4/1.5	2,226 (+9%)	4mo	$529,000	$238	55
15 Greenwood Pl	0.64mi	4/2.5	1,987 (-3%)	10mo	$425,000	$214	54
402 Breckenridge St	0.42mi	3/2.5 (-1)	2,136 (+5%)	13mo	$435,000	$204	53
499 Breckenridge St	0.52mi	5/2.0 (+1)	2,175 (+6%)	9mo	$416,005	$191	50
655 Prospect Ave	0.50mi	4/2.5	1,754 (-14%)	2mo	$310,000	$177	47
193 Parkdale Ave	0.65mi	3/1.5 (-1)	1,756 (-14%)	12mo	$315,000	$179	32

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: 18.8%
• Equity multiple: 2.34×
• Total profit: $74,798
• Equity at exit: $145,282

10-year hold

• IRR: 16.9%
• Equity multiple: 4.64×
• Total profit: $203,810
• Equity at exit: $282,318

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 14213

• Home prices YoY: 1.7%
• Rents YoY: -0.5%
• Active inventory: 137
• Price-to-rent: 8.8×

Monthly cashflow live

• Estimated rent: $1,902 high
• Mortgage (P&I): −$1,048
• Tax est. 1.5%: −$250 /mo · $2,998/yr
• Insurance: −$83
• Flood insurance flood zone: −$56 /mo · $666/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$399
• Net cashflow: $65

Break-even live

Break-even rent $1,819

Max offer price $199,900

Occupancy floor 92%

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: —

Rent comps 15 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
405 W Ferry St Unit Lower Buffalo, NY	3.0	1.0	2480	$1,500	$0.60	44d	1	0.32mi
11 Hoyt St Buffalo, NY	4.0	1.0	2848	$1,775	$0.62	14d	1	0.34mi
161 16th St Buffalo, NY	3.0	1.5	1500	$2,000	$1.33	24d	1	0.38mi
501 West Ave Buffalo, NY	3.0	1.0	2552	$1,700	$0.67	14d	1	0.45mi
501 West Ave Buffalo, NY	3.0	1.0	2552	$1,850	$0.72	20d	1	0.45mi
184 14th St Buffalo, NY	4.0	2.0	1950	$4,400	$2.26	24d	1	0.48mi
83 Baynes St Unit Lower Buffalo, NY	3.0	1.0	2550	$1,850	$0.73	14d	1	0.49mi
40 Putnam St Buffalo, NY	4.0	1.0	1600	$2,100	$1.31	24d	1	0.53mi
124 Normal Ave Unit 2 Buffalo, NY	3.0	1.0	1727	$2,000	$1.16	24d	1	0.61mi
330 Bryant St Buffalo, NY	3.0	2.0	2224	$2,200	$0.99	20d	1	0.64mi
740 Elmwood Ave Buffalo, NY	3.0	1.0	2000	$1,995	$1.00	14d	1	0.78mi
550 Busti Ave Unit 2 Buffalo, NY	3.0	1.0	1638	$1,500	$0.92	44d	1	0.90mi
836 Richmond Ave Buffalo, NY	4.0	3.5	1982	$4,500	$2.27	44d	1	1.09mi
100 Forest Ave Buffalo, NY	2.0–4.0	2.0–4.0	1304	$2,560	$1.96	2d	14	1.16mi
7 Berkley Pl Buffalo, NY	3.0	1.0	2879	$1,250	$0.43	3d	1	1.50mi

Listing history 17 events

1. 2026-06-18
   days on market $199,900 Active 29 DOM
2. 2026-06-17
   days on market $199,900 Active 28 DOM
3. 2026-06-16
   days on market $199,900 Active 27 DOM
4. 2026-06-15
   days on market $199,900 Active 26 DOM
5. 2026-06-13
   days on market $199,900 Active 24 DOM
6. 2026-06-13
   days on market $199,900 Active 23 DOM
7. 2026-06-10
   days on market $199,900 Active 21 DOM
8. 2026-06-09
   days on market $199,900 Active 20 DOM
9. 2026-06-08
   days on market $199,900 Active 19 DOM
10. 2026-06-07
    days on market $199,900 Active 18 DOM
11. 2026-06-03
    days on market $199,900 Active 14 DOM
12. 2026-06-02
    statusdays on market $199,900 Active 13 DOM
13. 2026-06-01
    days on market $199,900 Active Under Contract 12 DOM
14. 2026-05-31
    days on market $199,900 Active Under Contract 11 DOM
15. 2026-05-22
    historical Active Under Contract
16. 2026-05-20
    listed $199,900 Active
17. 1997-04-01
    soldstatus $36,000

ⓘ 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 7/10 Severe FEMA zone X (unshaded) · 77% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 3/10 Moderate 7 d/yr ≥91°F today · 15 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: $22,818
• − Mortgage interest: −$11,198
• − Property taxes: −$2,998
• − Insurance: −$1,666
• − Repairs & maintenance: −$1,825
• − Management: −$1,825
• − Depreciation: −$5,815
• Taxable loss: −$2,510
• Est. tax savings @ 24.0%: +$602
• After-tax cash flow: $1,385/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

+455.3% since first listed

3 events — show timeline

• 2026-05-22 Contingent — WNYREIS
• 2026-05-20 Listed $199,900 WNYREIS
• 1997-04-01 Sold (Public Records) $36,000 Public Records

Property tax history

+4.4%/yr

Latest (2025): $305 · +0.0% YoY. Source: county tax records.