580 Starin Ave · Buffalo, NY 14216

$1,760,000

256 bd · None ba · 19,122 sqft · MultiFamily public records · 18 Days on market

Built 1949 0.60 ac lot

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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 +30.0/30.0
• DSCR +10.0/10.0
• 1% rule +8.5/10.0
• ARV discount +7.5/15.0
• 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 (5+ Unit). Listing-text estimate: 16 units. confirmed

5+ unit building — per-unit beds/baths from public records are typically unavailable; the breakdown below (if shown) is an estimate from the listing text.

Listing remarks

Situated in North Buffalo this 16-unit apartment building has received over $180,000 in capital improvements since purchase. 10 of the 16 units have been renovated with Quartz countertops and tile bathrooms. All brick exterior with newer windows. 100% occupancy with a long history of strong occupancy. 12 garage spots with 8 additional parking spots. Attractive landscaping and professionally management help secure long term tenants.

Key facts

• 0.6 acre lot
• Garage
• Built 1949

Property features AI

Finance

• Financial info: Gross income reported at $215,700; Operating expenses reported at $49,468; Operating expenses include accounting, electric, fuel, insurance, legal, maintenance, professional management, snow removal, trash, water/sewer
• HOA & community: Storage facilities available; Owner pays grounds care, garage, heat, hot water, trash collection, water; Rent includes common area maintenance, heat, hot water, parking, trash collection, water

Exterior

• Parking: Garage parking; Three or more parking spaces
• Utilities: Electricity connected; Public water connected; Sewer connected
• Home design: Multi-family property with 16 total units; 2 stories; Existing (previously built)
• Construction: Brick construction; Blown-in insulation; Asphalt roof
• Exterior features: Blacktop driveway; Concrete driveway; Corner, rectangular lot; dimensions approximately 200 x 130

Interior

• Kitchen: Electric cooktop; Refrigerator
• Bedrooms: 16-unit building (number of bedrooms per unit not specified)
• Flooring: Hardwood; Tile; Varies by unit
• Heating & cooling: Gas heating; Hot water heat
• Interior features: Full basement; Hardwood and tile flooring; varies by unit; Electric cooktop; Gas water heater; Refrigerator
• Laundry & utility: Gas water heater

What this means for you Summary

Snapshot

• This is a 16 × 2-bed/1-bath units multifamily listed at $1.76M.

Deal economics

• At list price, monthly cash flow is $8k ($100k/yr) — positive. Per door: $522/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($24k rent vs $1.76M).
• Recommended offer: $1.73M (1.5% below list) — sets the bar for market timing.
• Cap rate 12.0% vs local median 8.1% 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.
• 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); 92 active listings in the ZIP; 1,244 units permitted in Erie County in 2024 (563 in 5+ unit buildings).
• At $23,763/mo this rent would consume 410% 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 $12k of loan paydown is wiped out by about $53k of value loss. Plan a longer hold.
• At projected returns (-3.0% appreciation + 3.6% rent growth), your $493k cash investment doubles in ~6 years — after that, you're playing with house money.

Negotiation context

• It's been on market 18 days — a 2% lower offer ($1.73M) is reasonable based on typical stale-listing flexibility.
• Current owner paid $1.20M; 47% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Watch-outs: built in 1949 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $1,733,600 (1.5% 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 1949 — 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. 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: 1.35% ✓
• Cap rate: 11.99%
• Cash-on-cash: 20.33%
• DSCR: 1.90
• GRM: 6.2

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 3.65% rent growth · sell at horizon

5-year hold

• IRR: 13.2%
• Equity multiple: 1.53×
• Total profit: $261,594
• Equity at exit: $262,422

10-year hold

• IRR: 22.5%
• Equity multiple: 2.98×
• Total profit: $974,795
• Equity at exit: $152,173

Cash invested: $492,800 (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: 92
• Price-to-rent: 98.8×

Monthly cashflow live

• Estimated rent: $23,763 high
• Mortgage (P&I): −$9,230
• Tax from tax record: −$459 /mo · $5,509/yr
• Insurance: −$733
• HOA: −$0
• Vacancy / Maint / Mgmt: −$4,990
• Net cashflow: $8,351

Break-even live

Break-even rent $13,192

Max offer price $1,760,000

Occupancy floor 60%

Sensitivity live

Price	-10% $9,347	-5% $8,849	+0% $8,351	+5% $7,853	+10% $7,354
Rent	-10% $6,473	-5% $7,412	+0% $8,351	+5% $9,289	+10% $10,228
Rate	-1.0pp $9,237	-0.5pp $8,798	base $8,351	+0.5pp $7,895	+1.0pp $7,431

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

Units	Beds	Baths	Est. rent
▸ 16× units	2	1	$23,760
Total (16 units)			$23,763

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: $440,000
• Closing costs: $52,800
• Reserves months: —
• Total cash needed: —

Listing history 5 events

1. 2026-04-28
   status Pending
2. 2026-04-10
   listed $1,760,000 Active
3. 2019-09-30
   soldstatus $1,200,000
4. 2012-05-23
   soldstatus $672,000
5. 1997-03-25
   soldstatus $720,000

ⓘ 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: $5,509 · $459/mo
• Projected year-2 tax: $17,627 · $1,469/mo
• Expected delta: +$12,117/yr (+$1,010/mo · 219.9%)

ⓘ 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: $285,156
• − Mortgage interest: −$98,587
• − Property taxes: −$5,509
• − Insurance: −$8,800
• − Repairs & maintenance: −$22,812
• − Management: −$22,812
• − Depreciation: −$51,200
• Taxable income: $75,434
• Est. tax owed @ 24.0%: −$18,104
• After-tax cash flow: $82,104/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

+144.4% since first listed

5 events — show timeline

• 2026-04-28 Pending — WNYREIS
• 2026-04-10 Listed $1,760,000 WNYREIS
• 2019-09-30 Sold (Public Records) $1,200,000 Public Records
• 2012-05-23 Sold (Public Records) $672,000 Public Records
• 1997-03-25 Sold (Public Records) $720,000 Public Records

Property tax history

+7.6%/yr

Latest (2025): $5,509 · +0.0% YoY. Source: county tax records.