375 Military Rd · Buffalo, NY 14207

$229,900

6 bd · 2.0 ba · 1,936 sqft · MultiFamily public records · 71 Days on market

Built 1900 4,680 sqft lot $119/sqft · 30% below area Est $328k · 30% under

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Why this score? — see what drove the B- 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 +24.8/30.0
• ARV discount +15.0/15.0
• DSCR +8.0/10.0
• 1% rule +6.4/10.0
• Rent growth +4.5/5.0
• Livability +3.9/5.0
• 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: 1 unit. estimate disagrees with records

Listing remarks MLS

Opportunity meets location at 375 Military Road, ideally positioned just off the Military & Hertel intersection. Set on a RARE double lot with buildable land (zoned N-3R), this spacious and thoughtfully updated two-unit multi-family home is awaiting its next owner or investor. Both sizable units offer 3 bedrooms and 1 full bathroom, creating flexible options for owner-occupants, multigenerational living, or savvy investors. Units have been consistently rented at $1,500 per month, highlighting fantastic income potential. Inside, you’ll find bright, open layouts enhanced by new tile and vinyl flooring, fresh paint, lighting fixtures, and fully updated full bathrooms in both units. Extensive improvements completed in 2023 include all new windows and a new forced-air HVAC system for the upper unit, delivering modern comfort and energy efficiency. A 2017 tear-off roof adds long-term peace of mind. The home continues to impress with basement laundry hook-ups, abundant storage in both the basement and attic, and a partially finished/insulated attic with drywall already installed—an ideal blank canvas for additional living space or future expansion. The additional lot at 371 Military Road is currently serving as additional parking for residents living within the property. With its size, updates, income history, and rare double lot, 375 Military Road is a compelling multi-family opportunity offering versatility, value, and room to grow in one of Buffalo’s most convenient locations. Showings begin immediately.

Key facts

• Double lot
• Buildable land
• New windows

Tags

• DOUBLE LOT
• BUILDABLE LAND
• UPDATED FULL BATHROOMS
• NEW WINDOWS
• NEW FORCED-AIR HVAC SYSTEM
• BASEMENT LAUNDRY HOOK-UPS

🏷️ Possibly a rental listed for sale. The $229,900 price doesn't fit this home's estimated sale value (~$327,501) and the remarks read like a rental — treat the cards below with caution.

What this means for you Summary

Snapshot

• This is a 6-bed/2.0-bath multifamily listed at $230k.

Deal economics

• At list price, monthly cash flow is $488 ($6k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $230k).
• Recommended offer: $216k (6.0% below list) — sets the bar for market timing.

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 rising fast (+8.2%/yr); 197 active listings in the ZIP; lower-income renter base — watch delinquency; 1,244 units permitted in Erie County in 2024 (563 in 5+ unit buildings).
• At $2,629/mo this rent would consume 79% of the median local household income ($40k/yr) (locally 2177% 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 $2k of loan paydown is wiped out by about $7k of value loss. Plan a longer hold.
• At projected returns (-3.0% appreciation + 8.0% rent growth), your $64k cash investment doubles in ~8 years — after that, you're playing with house money.

Negotiation context

• It's been on market 71 days — a 6% lower offer ($216k) is reasonable based on typical stale-listing flexibility.
• 5 sale attempts since 3y ago; this cycle's ask has dropped $20k (8%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $150k; list at $230k implies a 53% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1900 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: moderate flood risk — expect insurance premiums to compound above CPI over the hold.

Recommended offer $216,106 (6.0% below list)

Questions for the listing agent

1. It's been on market 71 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
2. Built in 1900 — 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: 1.14% ✓
• Cap rate: 8.84%
• Cash-on-cash: 9.10%
• DSCR: 1.40
• GRM: 7.3

CMA / ARV

• ARV (median comp): $327,501
• List price: $229,900
• Delta: -29.80%
• 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
64 Gladstone St	0.12mi	6/2.0	1,720 (-11%)	6mo	$118,000	$69	71
77 Clay St	0.53mi	6/2.0	1,964 (+1%)	3mo	$73,500	$37	70
38 Reservation St	0.51mi	5/2.0 (-1)	1,955 (+1%)	12mo	$330,000	$169	59
81 Grote St	0.37mi	5/2.0 (-1)	2,024 (+4%)	13mo	$155,000	$77	59
95 Bush St	0.51mi	6/2.0	1,832 (-5%)	12mo	$200,000	$109	58
395 Ontario St	0.65mi	5/2.0 (-1)	1,908 (-1%)	8mo	$270,000	$142	56
92 Greeley St	0.46mi	5/2.0 (-1)	1,766 (-9%)	6mo	$220,000	$125	54
151 Howell St	0.40mi	5/3.0 (-1)	2,048 (+6%)	13mo	$120,000	$59	52
202 Grote St	0.46mi	6/2.0	2,200 (+14%)	5mo	$219,750	$100	51
94 Germain St	0.51mi	6/2.0	2,142 (+11%)	10mo	$110,000	$51	50
5 Humphrey Rd	0.68mi	6/2.0	2,112 (+9%)	5mo	$230,648	$109	49
28 Blum Ave	0.70mi	6/2.0	1,680 (-13%)	1mo	$210,000	$125	44

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 · 8.0% rent growth · sell at horizon

5-year hold

• IRR: 3.0%
• Equity multiple: 1.12×
• Total profit: $7,768
• Equity at exit: $34,279

10-year hold

• IRR: 16.9%
• Equity multiple: 2.71×
• Total profit: $110,193
• Equity at exit: $19,878

Cash invested: $64,372 (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 14207

• Home prices YoY: -18.9%
• Rents YoY: 8.2%
• Active inventory: 197
• Price-to-rent: 14.6×

Monthly cashflow live

• Estimated rent: $2,629 high
• Mortgage (P&I): −$1,206
• Tax est. 1.5%: −$287 /mo · $3,448/yr
• Insurance: −$96
• HOA: −$0
• Vacancy / Maint / Mgmt: −$552
• Net cashflow: $488

Break-even live

Break-even rent $2,011

Max offer price $229,900

Occupancy floor 76%

Sensitivity live

Price	-10% $647	-5% $568	+0% $488	+5% $409	+10% $329
Rent	-10% $280	-5% $384	+0% $488	+5% $592	+10% $696
Rate	-1.0pp $604	-0.5pp $547	base $488	+0.5pp $429	+1.0pp $368

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

Units	Beds	Baths	Est. rent
▸ 2× units	3	1	$2,630
Total (2 units)			$2,629

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: $57,475
• Closing costs: $6,897
• Reserves months: —
• Total cash needed: —

Listing history 18 events

1. 2026-06-02
   statusdays on market $229,900 Pending 71 DOM
2. 2026-06-01
   days on market $229,900 Active 70 DOM
3. 2026-05-31
   days on market $229,900 Active 69 DOM
4. 2026-05-12
   price $229,900 1549-char remark

   Show marketing remark (1549 chars)

   Opportunity meets location at 375 Military Road, ideally positioned just off the Military & Hertel intersection. Set on a RARE double lot with buildable land (zoned N-3R), this spacious and thoughtfully updated two-unit multi-family home is awaiting its next owner or investor. Both sizable units offer 3 bedrooms and 1 full bathroom, creating flexible options for owner-occupants, multigenerational living, or savvy investors. Units have been consistently rented at $1,500 per month, highlighting fantastic income potential. Inside, you’ll find bright, open layouts enhanced by new tile and vinyl flooring, fresh paint, lighting fixtures, and fully updated full bathrooms in both units. Extensive improvements completed in 2023 include all new windows and a new forced-air HVAC system for the upper unit, delivering modern comfort and energy efficiency. A 2017 tear-off roof adds long-term peace of mind. The home continues to impress with basement laundry hook-ups, abundant storage in both the basement and attic, and a partially finished/insulated attic with drywall already installed—an ideal blank canvas for additional living space or future expansion. The additional lot at 371 Military Road is currently serving as additional parking for residents living within the property. With its size, updates, income history, and rare double lot, 375 Military Road is a compelling multi-family opportunity offering versatility, value, and room to grow in one of Buffalo’s most convenient locations. Showings begin immediately.

5. 2026-03-23
   listed $249,900 Active 1549-char remark

   Show marketing remark (1549 chars)

   Opportunity meets location at 375 Military Road, ideally positioned just off the Military & Hertel intersection. Set on a RARE double lot with buildable land (zoned N-3R), this spacious and thoughtfully updated two-unit multi-family home is awaiting its next owner or investor. Both sizable units offer 3 bedrooms and 1 full bathroom, creating flexible options for owner-occupants, multigenerational living, or savvy investors. Units have been consistently rented at $1,500 per month, highlighting fantastic income potential. Inside, you’ll find bright, open layouts enhanced by new tile and vinyl flooring, fresh paint, lighting fixtures, and fully updated full bathrooms in both units. Extensive improvements completed in 2023 include all new windows and a new forced-air HVAC system for the upper unit, delivering modern comfort and energy efficiency. A 2017 tear-off roof adds long-term peace of mind. The home continues to impress with basement laundry hook-ups, abundant storage in both the basement and attic, and a partially finished/insulated attic with drywall already installed—an ideal blank canvas for additional living space or future expansion. The additional lot at 371 Military Road is currently serving as additional parking for residents living within the property. With its size, updates, income history, and rare double lot, 375 Military Road is a compelling multi-family opportunity offering versatility, value, and room to grow in one of Buffalo’s most convenient locations. Showings begin immediately.

6. 2026-03-23
   historical

   Show marketing remark (1549 chars)

   Opportunity meets location at 375 Military Road, ideally positioned just off the Military & Hertel intersection. Set on a RARE double lot with buildable land (zoned N-3R), this spacious and thoughtfully updated two-unit multi-family home is awaiting its next owner or investor. Both sizable units offer 3 bedrooms and 1 full bathroom, creating flexible options for owner-occupants, multigenerational living, or savvy investors. Units have been consistently rented at $1,500 per month, highlighting fantastic income potential. Inside, you’ll find bright, open layouts enhanced by new tile and vinyl flooring, fresh paint, lighting fixtures, and fully updated full bathrooms in both units. Extensive improvements completed in 2023 include all new windows and a new forced-air HVAC system for the upper unit, delivering modern comfort and energy efficiency. A 2017 tear-off roof adds long-term peace of mind. The home continues to impress with basement laundry hook-ups, abundant storage in both the basement and attic, and a partially finished/insulated attic with drywall already installed—an ideal blank canvas for additional living space or future expansion. The additional lot at 371 Military Road is currently serving as additional parking for residents living within the property. With its size, updates, income history, and rare double lot, 375 Military Road is a compelling multi-family opportunity offering versatility, value, and room to grow in one of Buffalo’s most convenient locations. Showings begin immediately.

7. 2026-02-11
   price $249,900
8. 2026-01-14
   listed $264,900 Active
9. 2025-10-15
   listed $1,500
10. 2025-09-06
    historical $1,500
11. 2025-08-09
    price $1,500
12. 2025-08-09
    price $1,520
13. 2025-08-05
    price $1,500
14. 2025-08-04
    listed $1,520
15. 2023-06-20
    soldstatus $150,000
16. 2023-06-16
    soldstatus $150,000 Closed Sale or Rented
17. 2023-04-21
    status Under Contract- Do Not Show
18. 2023-04-12
    listed $140,000 Active

ⓘ 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 4/10 Moderate 4 unhealthy d/yr today · 9 by 30 yrs out

Taxation est. · year 1

• Rental income: $31,548
• − Mortgage interest: −$12,878
• − Property taxes: −$3,448
• − Insurance: −$1,150
• − Repairs & maintenance: −$2,524
• − Management: −$2,524
• − Depreciation: −$6,688
• Taxable income: $2,336
• Est. tax owed @ 24.0%: −$561
• After-tax cash flow: $5,297/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): 26,327
• Household income: $39,753
• Rent vs Own: 65.0% rent · 35.0% own
• Severe rent burden: 2177.0

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 0.74)
• Race & ethnicity: White 40% Hispanic / Latino 23% Black 16% Asian 15% Two or more races 14%
• Hispanic origin (detail): Puerto Rican 18% Dominican 2%
• Common ancestry: Romanian 8% Portuguese 1% Arab 1%
• Foreign-born: 19% · Philippines, Canada, India
• Languages at home: 65% English-only · Spanish 14% Other Asian/Pacific 10% Other Indo-European 5%

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: ▼ -54.42%
• Current HPI: 233.0902
• Rent YoY: ▲ 8.19%
• 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

+64.2% since first listed

15 events — show timeline

• 2026-05-12 Price Changed $229,900 WNYREIS
• 2026-03-23 Listing Removed — WNYREIS
• 2026-03-23 Listed $249,900 WNYREIS
• 2026-02-11 Price Changed $249,900 WNYREIS
• 2026-01-14 Listed $264,900 WNYREIS
• 2025-10-15 Listed for Rent $1,500 APPFOLIO
• 2025-09-06 Rental Removed $1,500 APPFOLIO
• 2025-08-09 Price Changed $1,500 APPFOLIO
• 2025-08-09 Price Changed $1,520 APPFOLIO
• 2025-08-05 Price Changed $1,500 APPFOLIO
• 2025-08-04 Listed for Rent $1,520 APPFOLIO
• 2023-06-20 Sold (Public Records) $150,000 Public Records
• 2023-06-16 Sold (MLS) $150,000 WNYREIS
• 2023-04-21 Pending — WNYREIS
• 2023-04-12 Listed $140,000 WNYREIS

Property tax history

+12.2%/yr

Latest (2025): $325 · +0.0% YoY. Source: county tax records.