35 Troupe St · Buffalo, NY 14210

$124,900

4 bd · 1.0 ba · 1,476 sqft · SingleFamily public records · 22 Days on market

Built 1878 3,750 sqft lot Est $140k · 11% 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 +27.8/30.0
• ARV discount +12.4/15.0
• Appreciation +10.0/10.0
• DSCR +9.8/10.0
• 1% rule +6.4/10.0
• Rent growth +5.0/5.0
• Livability +3.9/5.0
• Schools +3.3/10.0
• Condition / age +2.5/5.0

Listing remarks

Calling all investors and savvy buyers! This affordable 4-bedroom home offers generous living space with plenty of closet storage throughout. Features a large primary bedroom, two first floor bedrooms, sitting area off kitchen complete with built-ins, spacious full bathroom, first floor laundry and rear utility room for additional storage. Hot water tank approximately 12 years old, back half of roof 4 yrs, garage roof 6 yrs, newer garage door, dry basement, security system. Bring your ideas and vision to restore the charm and make this home your own. Great potential for an investment property or owner-occupant looking to build equity! Offers will be reviewed as they come in.

Key facts

• 3,750 sq ft lot
• Garage
• Built 1878

Property features AI

Exterior

• Parking: Detached garage; 1 garage space
• Utilities: Public water (connected); Sewer connected
• Home design: Single-story; Resale property; Vinyl siding
• Construction: Vinyl siding exterior; Block and stone foundation; Existing construction
• Exterior features: Concrete driveway; Rectangular residential lot; City street frontage; Lot dimensions approximately 30 x 125

Interior

• Kitchen: Gas oven; Gas range; Refrigerator
• Bedrooms: 2 main-level bedrooms
• Flooring: Carpet; Vinyl; Varied flooring
• Bathrooms: 1 full bathroom (main level)
• Heating & cooling: Gas heating; Baseboard heating
• Interior features: Separate/formal dining room; Bedroom on main level; Partial basement

What this means for you Summary

Snapshot

• This is a 4-bed/1.0-bath single-family listed at $125k.

Deal economics

• At list price, monthly cash flow is $380 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $125k).
• Recommended offer: $123k (1.5% below list) — sets the bar for market timing.
• Cap rate 9.9% vs local median 8.0% in Buffalo — meaningfully above typical; check what's discounted (condition, days-on-market, listing class) to confirm the premium yield is real.

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 (+12.7%/yr); 94 active listings in the ZIP; 9 comparable units currently listed for rent nearby; rentals at typical pace (median 25d 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 32% 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 $13k of equity ($864 loan paydown + $12k appreciation (10.0% local appreciation)).
• At projected returns (10.0% appreciation + 8.0% rent growth), your $35k cash investment doubles in ~2 years — after that, you're playing with house money.
• By year 3, paydown + projected appreciation supports a ~$34k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 22 days — a 2% lower offer ($123k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: built in 1878 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $123,026 (1.5% below list)

Questions for the listing agent

1. Built in 1878 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. 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?
4. 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.
5. 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.
6. 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: 1.14% ✓
• Cap rate: 9.94%
• Cash-on-cash: 13.03%
• DSCR: 1.58
• GRM: 7.3

CMA / ARV

• ARV (on-the-fly): $140,220
• Comps found: 8

Show comp detail 8 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
35 Walter St	0.41mi	4/1.0	1,510 (+2%)	3mo	$240,000	$159	74
135 Bushnell St	0.44mi	3/1.0 (-1)	1,530 (+4%)	1mo	$121,200	$79	67
271 Babcock St	0.12mi	3/2.0 (-1)	1,387 (-6%)	18mo	$110,000	$79	61
223 Maurice St	0.26mi	5/2.0 (+1)	1,549 (+5%)	14mo	$217,247	$140	59
57 Jones St	0.64mi	4/1.0	1,497 (+1%)	12mo	$72,000	$48	57
310 Smith St	0.73mi	4/1.0	1,441 (-2%)	8mo	$70,000	$49	56
119 Peabody St	0.38mi	3/1.0 (-1)	1,302 (-12%)	10mo	$150,000	$115	49
118 Peabody St	0.40mi	3/1.0 (-1)	1,362 (-8%)	22mo	$130,000	$95	45

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

Projected returns pro-forma

10.0% appreciation · 8.0% rent growth · sell at horizon

5-year hold

• IRR: 36.0%
• Equity multiple: 3.85×
• Total profit: $99,706
• Equity at exit: $112,520

10-year hold

• IRR: 32.7%
• Equity multiple: 9.38×
• Total profit: $293,202
• Equity at exit: $242,653

Cash invested: $34,972 (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 14210

• Home prices YoY: 13.8%
• Rents YoY: 12.7%
• Active inventory: 94
• Price-to-rent: 7.3×

Monthly cashflow live

• Estimated rent: $1,428 high
• Mortgage (P&I): −$655
• Tax from tax record: −$42 /mo · $499/yr
• Insurance: −$52
• HOA: −$0
• Vacancy / Maint / Mgmt: −$300
• Net cashflow: $380

Break-even live

Break-even rent $948

Max offer price $124,900

Occupancy floor 68%

Sensitivity live

Price	-10% $450	-5% $415	+0% $380	+5% $344	+10% $309
Rent	-10% $267	-5% $323	+0% $380	+5% $436	+10% $493
Rate	-1.0pp $443	-0.5pp $411	base $380	+0.5pp $347	+1.0pp $314

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: $31,225
• Closing costs: $3,747
• Reserves months: —
• Total cash needed: —

Rent comps 9 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
47 Lester St Unit Main Floor Buffalo, NY	3.0	1.0	900	$1,000	$1.11	44d	1	0.17mi
901 S Park Ave Unit Lower Buffalo, NY	4.0	1.0	1729	$1,600	$0.93	24d	1	0.95mi
700 Hopkins St Buffalo, NY	3.0	1.0	1100	$1,225	$1.11	15d	1	0.99mi
76 Hammerschmidt Ave Buffalo, NY	3.0	1.0	1200	$1,275	$1.06	2d	1	1.10mi
1899 Seneca St Buffalo, NY	3.0	1.0	1134	$1,075	$0.95	15d	1	1.19mi
89 Macamley St #2 Buffalo, NY	3.0	1.0	1274	$1,100	$0.86	11d	1	1.24mi
1927 Seneca St Buffalo, NY	3.0	1.0	1196	$1,250	$1.05	24d	1	1.24mi
1150 Bailey Ave Buffalo, NY	4.0	1.5	1100	$1,200	$1.09	24d	1	1.31mi
34 Hayden St Unit Back Buffalo, NY	3.0	1.0	1200	$1,600	$1.33	44d	1	1.34mi

Listing history 16 events

1. 2026-06-18
   days on market $124,900 Active 22 DOM
2. 2026-06-17
   days on market $124,900 Active 21 DOM
3. 2026-06-16
   days on market $124,900 Active 20 DOM
4. 2026-06-15
   price $124,900 Active 19 DOM
5. 2026-06-15
   days on market $134,900 Active 19 DOM
6. 2026-06-13
   days on market $134,900 Active 17 DOM
7. 2026-06-13
   days on market $134,900 Active 16 DOM
8. 2026-06-10
   days on market $134,900 Active 14 DOM
9. 2026-06-09
   days on market $134,900 Active 13 DOM
10. 2026-06-08
    days on market $134,900 Active 12 DOM
11. 2026-06-07
    days on market $134,900 Active 11 DOM
12. 2026-06-03
    days on market $134,900 Active 7 DOM
13. 2026-06-02
    days on market $134,900 Active 6 DOM
14. 2026-06-01
    days on market $134,900 Active 5 DOM
15. 2026-05-31
    days on market $134,900 Active 4 DOM
16. 2026-05-27
    listed $134,900 Active

ⓘ 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: $1,305 · $109/mo
• Expected delta: +$806/yr (+$67/mo · 161.7%)

ⓘ 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: $17,139
• − Mortgage interest: −$6,996
• − Property taxes: −$499
• − Insurance: −$624
• − Repairs & maintenance: −$1,371
• − Management: −$1,371
• − Depreciation: −$3,633
• Taxable income: $2,643
• Est. tax owed @ 24.0%: −$634
• After-tax cash flow: $3,922/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): 15,563
• Household income: $54,197
• Rent vs Own: 53.9% rent · 46.1% 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: Predominantly White (79%)
• Race & ethnicity: White 79% Two or more races 8% Black 8% Hispanic / Latino 7% Asian 1%
• Hispanic origin (detail): Puerto Rican 6%
• Common ancestry: Romanian 21% Lithuanian 2% Serbian 1%
• Foreign-born: 2% · Canada, China
• Languages at home: 95% English-only · Spanish 2% Arabic 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: ▲ 52.34%
• Current HPI: 431.7951
• Rent YoY: ▲ 12.67%
• 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

1 event — show timeline

• 2026-05-27 Listed $134,900 WNYREIS

Property tax history

+9.8%/yr

Latest (2025): $499 · +169.6% YoY. Source: county tax records.