47 Heath St · Buffalo, NY 14214

$189,900

3 bd · 1.0 ba · 1,364 sqft · SingleFamily public records · 33 Days on market

Built 1910 3,450 sqft lot Est $251k · 24% under

---

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 +19.6/30.0
• ARV discount +15.0/15.0
• DSCR +6.2/10.0
• Rent growth +4.0/5.0
• 1% rule +3.9/10.0
• Livability +3.9/5.0
• Schools +3.3/10.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Welcome to 47 Heath Street!  Cash-flowing, 5 bed, 1.5 bath single-family in Buffalo’s highly sought-after University District, just steps from the SUNY University at Buffalo South Campus and all the surrounding shops, restaurants, transit access, and conveniences. Positioned on the first block of Main Street, a location with consistent rental demand and historically strong occupancy, this property stands out from typical rentals. It features a rare open-concept first floor layout, connecting the living and dining areas to a fully applianced, eat-in kitchen. Recessed lighting and updated flooring throughout add to the appeal for today’s tenants.   Both bathrooms have be

Key facts

• Tiled walk-in shower
• Updated bathrooms
• 3,450 sq ft lot

Tags

• OPEN-CONCEPT FIRST FLOOR
• FULLY APPLIANCED KITCHEN
• UPDATED BATHROOMS
• TILED WALK-IN SHOWER
• MODERN FLOATING VANITY
• NEWER BLACK METAL ROOF

Property features AI

Exterior

• Parking: No garage; Driveway; Shared driveway
• Utilities: Public water connected; Sewer connected; Electric with circuit breakers
• Home design: 2-story house; Existing construction
• Construction: Aluminum, composite, and vinyl siding; Copper plumbing; Block foundation
• Exterior features: Near public transit; Rectangular residential lot; City street frontage

Interior

• Kitchen: Gas oven; Gas range; Refrigerator
• Bedrooms: 1 bedroom on the main level
• Flooring: Carpet; Hardwood; Laminate; Vinyl; Varied flooring
• Bathrooms: 1 full bathroom; 1 half bathroom; 1 main-level bathroom
• Heating & cooling: Gas forced-air heating
• Interior features: Eat-in kitchen; Bedroom on main level; Full basement
• Laundry & utility: Washer and dryer located in the basement; Gas water heater

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $190k.

Deal economics

• At list price, monthly cash flow is $218 ($3k/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 $169k (10.8% below list).
• Recommended offer: $169k (10.8% 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.
• Market conditions: Rents rising fast (+5.8%/yr); 90 active listings in the ZIP; 25 comparable units currently listed for rent nearby; rentals at typical pace (median 15d 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 35% of the median local income ($58k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $1k of loan paydown is wiped out by about $6k of value loss. Plan a longer hold.

Negotiation context

• It's been on market 33 days — a 3% lower offer ($184k) is reasonable based on typical stale-listing flexibility.
• 5 sale attempts since 3y 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 1910 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $169,311 (10.8% below list)

Questions for the listing agent

1. It's been on market 33 days. Have you received any prior offers? Is the seller open to a 11% 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. 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: 0.89% ✗
• Cap rate: 7.67%
• Cash-on-cash: 4.92%
• DSCR: 1.22
• GRM: 9.3

CMA / ARV

• ARV (on-the-fly): $250,976
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
71 Merrimac St	0.07mi	3/1.0	1,404 (+3%)	5mo	$129,999	$93	88
15 Montcalm St	0.28mi	4/1.5 (+1)	1,355 (-1%)	6mo	$270,000	$199	74
133 Allenhurst Rd	0.47mi	3/1.5	1,410 (+3%)	1mo	$332,800	$236	70
150 Heath St	0.19mi	2/1.0 (-1)	1,232 (-10%)	1mo	$180,000	$146	69
32 Parkside Ct	0.48mi	3/1.5	1,292 (-5%)	1mo	$350,000	$271	66
41 Fairfield Ave	0.68mi	3/1.5	1,384 (+2%)	4mo	$197,500	$143	60
29 Parkhurst Blvd	0.53mi	3/1.5	1,289 (-6%)	6mo	$165,000	$128	60
32 Wellington Ave	0.63mi	3/1.5	1,482 (+9%)	1mo	$272,000	$184	54
73 Springville Ave	0.73mi	4/2.0 (+1)	1,425 (+4%)	4mo	$235,000	$165	46
347 Lisbon Ave	0.68mi	3/1.5	1,558 (+14%)	3mo	$180,000	$116	40
430 Parker Ave	0.68mi	4/1.5 (+1)	1,512 (+11%)	6mo	$300,000	$198	38
204 Lyndale Ave	0.74mi	4/1.0 (+1)	1,176 (-14%)	1mo	$268,204	$228	36

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 · 5.81% rent growth · sell at horizon

5-year hold

• IRR: -6.0%
• Equity multiple: 0.77×
• Total profit: $-12,046
• Equity at exit: $28,315

10-year hold

• IRR: 6.4%
• Equity multiple: 1.53×
• Total profit: $28,422
• Equity at exit: $16,419

Cash invested: $53,172 (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 14214

• Rents YoY: 5.8%
• Active inventory: 90
• Price-to-rent: 9.3×

Monthly cashflow live

• Estimated rent: $1,693 high
• Mortgage (P&I): −$996
• Tax from tax record: −$44 /mo · $532/yr
• Insurance: −$79
• HOA: −$0
• Vacancy / Maint / Mgmt: −$356
• Net cashflow: $218

Break-even live

Break-even rent $1,417

Max offer price $189,900

Occupancy floor 82%

Sensitivity live

Price	-10% $326	-5% $272	+0% $218	+5% $164	+10% $111
Rent	-10% $84	-5% $151	+0% $218	+5% $285	+10% $352
Rate	-1.0pp $314	-0.5pp $267	base $218	+0.5pp $169	+1.0pp $119

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: $47,475
• Closing costs: $5,697
• Reserves months: —
• Total cash needed: —

Rent comps 25 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
60 Englewood Ave Buffalo, NY	4.0	1.0	1400	$1,650	$1.18	2d	1	0.06mi
26 Custer St Buffalo, NY	2.0	1.0	1000	$1,300	$1.30	44d	1	0.24mi
40 Lisbon Ave Unit Upper Buffalo, NY	2.0	1.0	1057	$1,500	$1.42	11d	1	0.31mi
92 Lasalle Ave Unit 1 Buffalo, NY	2.0	1.0	1000	$1,150	$1.15	44d	1	0.45mi
222 Lisbon Ave Buffalo, NY	4.0	1.0	1300	$1,400	$1.08	24d	1	0.46mi
222 Lisbon Ave Unit Upper Buffalo, NY	3.0	1.0	1400	$1,400	$1.00	44d	1	0.46mi
89 Lasalle Ave Buffalo, NY	1.0–4.0	1.0–4.0	1024	$2,291	$2.24	2d	10	0.53mi
265 Lisbon Ave Unit 2 Buffalo, NY	3.0	1.0	1200	$1,400	$1.17	44d	1	0.54mi
263 Minnesota Ave Unit Upper Buffalo, NY	3.0	1.0	1242	$1,500	$1.21	15d	1	0.56mi
163 Carmel Rd Buffalo, NY	3.0	1.0	1400	$1,800	$1.29	3d	1	0.58mi
33 Tillotson Pl Buffalo, NY	3.0	1.0	1143	$2,095	$1.83	15d	1	0.66mi
91 Springville Ave Buffalo, NY	4.0	2.0	1660	$2,350	$1.42	24d	1	0.78mi
220 Dartmouth Ave Buffalo, NY	2.0	1.0	1000	$1,100	$1.10	24d	1	0.82mi
627 Kenmore Ave Buffalo, NY	2.0	1.0	1000	$1,250	$1.25	24d	1	0.86mi
348 Capen Blvd Buffalo, NY	3.0	1.5	1424	$2,200	$1.54	2d	1	0.92mi
524 University Ave Buffalo, NY	3.0	1.0	1840	$1,600	$0.87	2d	1	0.94mi
140 Parkridge Ave Buffalo, NY	3.0	1.0	990	$1,500	$1.52	44d	1	1.01mi
27 Henley Rd Buffalo, NY	2.0	1.0	1200	$1,299	$1.08	15d	1	1.07mi
414 Taunton Pl Unit Lowet Buffalo, NY	3.0	1.0	1232	$1,700	$1.38	15d	1	1.17mi
189 Westminster Ave Buffalo, NY	4.0	1.5	1065	$1,595	$1.50	11d	1	1.25mi
76 Vernon Pl Unit Lower Buffalo, NY	3.0	1.0	1190	$1,445	$1.21	15d	1	1.26mi
76 Vernon Pl Unit Upper Buffalo, NY	3.0	1.0	1190	$1,595	$1.34	15d	1	1.26mi
151 Lamson Rd Buffalo, NY	4.0	2.0	1382	$2,350	$1.70	17d	1	1.30mi
307 Sterling Ave Buffalo, NY	3.0	1.0	1632	$1,800	$1.10	4d	1	1.36mi
97 Davidson Ave Buffalo, NY	3.0	1.0	925	$1,495	$1.62	2d	1	1.37mi

Listing history 24 events

1. 2026-06-13
   statusdays on market $189,900 Pending 33 DOM
2. 2026-06-10
   days on market $189,900 Active 32 DOM
3. 2026-06-09
   days on market $189,900 Active 31 DOM
4. 2026-06-08
   days on market $189,900 Active 30 DOM
5. 2026-06-07
   days on market $189,900 Active 29 DOM
6. 2026-06-03
   days on market $189,900 Active 25 DOM
7. 2026-06-02
   days on market $189,900 Active 24 DOM
8. 2026-06-01
   days on market $189,900 Active 23 DOM
9. 2026-05-31
   days on market $189,900 Active 22 DOM
10. 2026-05-21
    status Active
11. 2026-04-29
    status Pending
12. 2026-04-16
    listed $189,900 Active
13. 2025-08-27
    historical
14. 2025-07-19
    listed $259,900 Active
15. 2025-04-23
    historical $3,000
16. 2025-04-22
    price $3,000
17. 2025-04-05
    listed $3,100
18. 2023-10-12
    historical
19. 2023-09-27
    soldstatus $265,000
20. 2023-07-24
    historical Continue to Show- Under Contract
21. 2023-07-12
    listed $199,999 Active
22. 2014-09-17
    soldstatus $62,047
23. 2007-06-25
    soldstatus $74,000
24. 2005-06-17
    soldstatus $142,000

ⓘ 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: $532 · $44/mo
• Projected year-2 tax: $1,871 · $156/mo
• Expected delta: +$1,338/yr (+$112/mo · 251.4%)

ⓘ 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 ≥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: $20,317
• − Mortgage interest: −$10,637
• − Property taxes: −$532
• − Insurance: −$950
• − Repairs & maintenance: −$1,625
• − Management: −$1,625
• − Depreciation: −$5,524
• Taxable loss: −$577
• Est. tax savings @ 24.0%: +$139
• After-tax cash flow: $2,757/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): 21,314
• Household income: $58,228
• Rent vs Own: 57.7% rent · 42.3% own
• Severe rent burden: 1820.0

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 0.67)
• Race & ethnicity: White 47% Black 31% Asian 11% Hispanic / Latino 7% Two or more races 6%
• Hispanic origin (detail): Puerto Rican 3%
• Common ancestry: Romanian 5% Lithuanian 2% Scotch-Irish 1%
• Foreign-born: 14% · Canada, China
• Languages at home: 81% English-only · Other Indo-European 7% Spanish 4% Other Asian/Pacific 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: ▼ -282.52%
• Current HPI: 373.377
• Rent YoY: ▲ 5.81%
• 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

+33.7% since first listed

15 events — show timeline

• 2026-05-21 Relisted — WNYREIS
• 2026-04-29 Pending — WNYREIS
• 2026-04-16 Listed $189,900 WNYREIS
• 2025-08-27 Listing Removed — WNYREIS
• 2025-07-19 Listed $259,900 WNYREIS
• 2025-04-23 Rental Removed $3,000 REDFIN
• 2025-04-22 Price Changed $3,000 REDFIN
• 2025-04-05 Listed for Rent $3,100 REDFIN
• 2023-10-12 Listing Removed — WNYREIS
• 2023-09-27 Sold (Public Records) $265,000 Public Records
• 2023-07-24 Contingent — WNYREIS
• 2023-07-12 Listed $199,999 WNYREIS
• 2014-09-17 Sold (Public Records) $62,047 Public Records
• 2007-06-25 Sold (Public Records) $74,000 Public Records
• 2005-06-17 Sold (Public Records) $142,000 Public Records

Property tax history

+5.9%/yr

Latest (2025): $532 · +0.0% YoY. Source: county tax records.