59 Edna Pl · Buffalo, NY 14209

$194,900

6 bd · 2.0 ba · 2,576 sqft · MultiFamily public records · 40 Days on market

Built 1920 4,318 sqft lot $76/sqft · 36% below area Est $305k · 36% 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 +5.9/10.0
• Rent growth +4.6/5.0
• Livability +3.9/5.0
• Schools +3.3/10.0
• Condition / age +2.5/5.0

Multi-family units

County records classify this as Multi-Family (2-4 Unit). Listing-text estimate: 2 units. confirmed

Listing remarks MLS

Great Investment / Income Property! Large 3/3 duplex minutes away from Medical Hospital, close to Downtown Buffalo. Upper unit updated. Features include: hardwood floors, gas fireplace(NRTC). Large bedrooms and kitchens. Lots of storage. Call today to schedule a showing in this very desired area!

Key facts

• Ample storage space
• Spacious duplex
• Investment property

Tags

• INVESTMENT PROPERTY
• INCOME PRODUCING PROPERTY
• SPACIOUS DUPLEX
• HARDWOOD FLOORS
• GAS FIREPLACE
• AMPLE STORAGE SPACE

Property features AI

Finance

• Other: Lot is rectangular, near public transit, with city street frontage (approx. 34 x 127)
• Financial info: Property has 2 total units with separate gas and electric meters for each unit; One unit currently rented month-to-month for $1,000; Owner pays hot water; rent includes hot water; Operating expenses include water and sewer

Exterior

• Parking: Concrete parking
• Utilities: Public water connected; Sewer connected; Circuit breaker electrical
• Home design: 2-story multi-family residence; Residential multi-use zoning; Stone foundation; Resale condition
• Construction: Vinyl siding; Copper plumbing; Asphalt roof; Built (existing)
• Exterior features: Balcony; Covered porch

Interior

• Kitchen: Gas water heater
• Bedrooms: Two separate 3-bedroom units (each unit has 3 bedrooms)
• Flooring: Hardwood; Varies
• Bathrooms: Each unit has 1 full bathroom (2 full bathrooms total)
• Heating & cooling: Gas forced air heating; Heating is present
• Interior features: Hardwood and varied flooring; Full basement
• Laundry & utility: Common area laundry

What this means for you Summary

Snapshot

• This is a 2 × 3-bed/?-bath units multifamily listed at $195k.

Deal economics

• At list price, monthly cash flow is $2k ($25k/yr) — positive. Per door: $1k/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($4k rent vs $195k).
• Recommended offer: $189k (3.0% below list) — sets the bar for market timing.
• Cap rate 19.1% 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: Rents rising fast (+8.5%/yr); 56 active listings in the ZIP; 1 comparable units currently listed for rent nearby; 1,244 units permitted in Erie County in 2024 (563 in 5+ unit buildings).
• At $4,089/mo this rent would consume 98% of the median local household income ($50k/yr) (locally 959% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

Forward outlook

• In year one you build about $5k of equity ($1k loan paydown + $4k appreciation (1.9% local appreciation)).
• At projected returns (1.9% appreciation + 8.0% rent growth), your $55k cash investment doubles in ~2 years — after that, you're playing with house money.
• By year 7, paydown + projected appreciation supports a ~$32k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 40 days — a 3% lower offer ($189k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 10y 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 $95k; list at $195k implies a 105% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1920 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $189,053 (3.0% below list)

Questions for the listing agent

1. It's been on market 40 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
3. What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
4. Built in 1920 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. 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?
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: 2.10% ✓
• Cap rate: 19.13%
• Cash-on-cash: 45.86%
• DSCR: 3.04
• GRM: 4.0

CMA / ARV

• ARV (median comp): $305,398
• List price: $194,900
• Delta: -36.18%
• 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
248 Peach St	0.40mi	6/2.0	2,612 (+1%)	4mo	$191,000	$73	76
44 Laurel St	0.40mi	6/2.0	2,600 (+1%)	10mo	$130,100	$50	72
211 Riley St	0.40mi	6/3.0	2,522 (-2%)	7mo	$210,000	$83	68
361 E North St Unit S	0.48mi	5/2.5 (-1)	2,544 (-1%)	3mo	$172,500	$68	66
248 Dodge St	0.27mi	6/3.0	2,520 (-2%)	20mo	$345,000	$137	64
243 Peach St	0.43mi	6/2.0	2,560 (-1%)	20mo	$149,000	$58	62
109 Northampton St	0.19mi	6/2.0	2,748 (+7%)	22mo	$325,000	$118	62
253 High St	0.37mi	6/2.0	2,448 (-5%)	16mo	$233,000	$95	61
37 Pershing Ave	0.67mi	5/3.0 (-1)	2,641 (+2%)	1mo	$85,000	$32	54
157 Park St	0.66mi	5/3.0 (-1)	2,644 (+3%)	11mo	$661,000	$250	46
53 Pershing Ave	0.66mi	5/2.0 (-1)	2,360 (-8%)	11mo	$149,000	$63	42
494 Best St	0.69mi	6/2.0	2,352 (-9%)	17mo	$267,000	$114	39

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

Projected returns pro-forma

1.86% appreciation · 8.0% rent growth · sell at horizon

5-year hold

• IRR: 54.1%
• Equity multiple: 4.05×
• Total profit: $166,376
• Equity at exit: $75,429

10-year hold

• IRR: 56.8%
• Equity multiple: 9.45×
• Total profit: $461,283
• Equity at exit: $107,519

Cash invested: $54,572 (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 14209

• Home prices YoY: 0.4%
• Rents YoY: 8.5%
• Active inventory: 56
• Price-to-rent: 7.9×

Monthly cashflow live

• Estimated rent: $4,089 high
• Mortgage (P&I): −$1,022
• Tax from tax record: −$42 /mo · $499/yr
• Insurance: −$81
• HOA: −$0
• Vacancy / Maint / Mgmt: −$859
• Net cashflow: $2,085

Break-even live

Break-even rent $1,449

Max offer price $194,900

Occupancy floor 44%

Sensitivity live

Price	-10% $2,196	-5% $2,141	+0% $2,085	+5% $2,030	+10% $1,975
Rent	-10% $1,762	-5% $1,924	+0% $2,085	+5% $2,247	+10% $2,409
Rate	-1.0pp $2,184	-0.5pp $2,135	base $2,085	+0.5pp $2,035	+1.0pp $1,984

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

Units	Beds	Baths	Est. rent
▸ 2× units	3	—	$4,090
Total (2 units)			$4,089

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: $48,725
• Closing costs: $5,847
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
518 Wilson St Buffalo, NY	5.0	1.5	1848	$1,500	$0.81	24d	1	1.22mi

Listing history 21 events

1. 2026-06-18
   days on market $194,900 Active 40 DOM
2. 2026-06-17
   days on market $194,900 Active 39 DOM
3. 2026-06-16
   remarks 690-char remark
4. 2026-06-16
   days on market $194,900 Active 38 DOM
5. 2026-06-15
   days on market $194,900 Active 37 DOM
6. 2026-06-13
   days on market $194,900 Active 35 DOM
7. 2026-06-13
   days on market $194,900 Active 34 DOM
8. 2026-06-10
   days on market $194,900 Active 32 DOM
9. 2026-06-09
   days on market $194,900 Active 31 DOM
10. 2026-06-08
    days on market $194,900 Active 30 DOM
11. 2026-06-07
    days on market $194,900 Active 29 DOM
12. 2026-06-03
    days on market $194,900 Active 25 DOM
13. 2026-06-02
    days on market $194,900 Active 24 DOM
14. 2026-06-01
    days on market $194,900 Active 23 DOM
15. 2026-05-31
    days on market $194,900 Active 22 DOM
16. 2026-05-08
    listed $194,900 Active 842-char remark
17. 2016-10-06
    soldstatus $95,000 Closed Sale or Rented 297-char remark

    Show marketing remark (297 chars)

    Great Investment / Income Property! Large 3/3 duplex minutes away from Medical Hospital, close to Downtown Buffalo. Upper unit updated. Features include: hardwood floors, gas fireplace(NRTC). Large bedrooms and kitchens. Lots of storage. Call today to schedule a showing in this very desired area!

18. 2016-09-29
    soldstatus $95,000
19. 2016-05-19
    status Pending Sale 297-char remark

    Show marketing remark (297 chars)

    Great Investment / Income Property! Large 3/3 duplex minutes away from Medical Hospital, close to Downtown Buffalo. Upper unit updated. Features include: hardwood floors, gas fireplace(NRTC). Large bedrooms and kitchens. Lots of storage. Call today to schedule a showing in this very desired area!

20. 2016-05-04
    listed $85,000 Active 297-char remark

    Show marketing remark (297 chars)

    Great Investment / Income Property! Large 3/3 duplex minutes away from Medical Hospital, close to Downtown Buffalo. Upper unit updated. Features include: hardwood floors, gas fireplace(NRTC). Large bedrooms and kitchens. Lots of storage. Call today to schedule a showing in this very desired area!

21. 2004-03-05
    soldstatus $32,725

ⓘ 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: $499 · $42/mo
• Projected year-2 tax: $1,896 · $158/mo
• Expected delta: +$1,398/yr (+$116/mo · 280.3%)

ⓘ 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 · 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: $49,068
• − Mortgage interest: −$10,917
• − Property taxes: −$499
• − Insurance: −$974
• − Repairs & maintenance: −$3,925
• − Management: −$3,925
• − Depreciation: −$5,670
• Taxable income: $23,157
• Est. tax owed @ 24.0%: −$5,558
• After-tax cash flow: $19,468/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): 8,313
• Household income: $50,046
• Rent vs Own: 66.3% rent · 33.7% own
• Severe rent burden: 959.0

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: Diverse neighborhood (Simpson 0.62)
• Race & ethnicity: White 53% Black 30% Hispanic / Latino 11% Two or more races 5% Asian 3%
• Hispanic origin (detail): Puerto Rican 6% Dominican 1%
• Common ancestry: Romanian 6% Lithuanian 2% Scotch-Irish 2%
• Foreign-born: 9% · Canada, Dominican Republic, China
• Languages at home: 88% English-only · Spanish 5% Other Indo-European 2% French/Haitian/Cajun 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: ▲ 1.86%
• Current HPI: 443.9414
• Rent YoY: ▲ 8.53%
• 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

+495.6% since first listed

6 events — show timeline

• 2026-05-08 Listed $194,900 WNYREIS
• 2016-10-06 Sold (MLS) $95,000 WNYREIS
• 2016-09-29 Sold (Public Records) $95,000 Public Records
• 2016-05-19 Pending — WNYREIS
• 2016-05-04 Listed $85,000 WNYREIS
• 2004-03-05 Sold (Public Records) $32,725 Public Records

Property tax history

+10.7%/yr

Latest (2025): $499 · -14.5% YoY. Source: county tax records.