137 Donaldson Rd Rd · Buffalo, NY 14208

$220,000

6 bd · 2.0 ba · 2,684 sqft · MultiFamily public records · 21 Days on market

Built 1890 3,675 sqft lot Est $185k · 19% over

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

Multi-family units

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

Listing remarks

Welcome to this delightful duplex nestled in the historic Hamlin Park Neighborhood of Buffalo, NY! This charming residence boasts a finished attic and an updated roof, along with central air, a newer furnace, and a modern hot water tank. Enjoy easy access to the 33 Kensington Expressway from this prime location. Please note that this is an estate sale, and the property is being sold as-is, with no repairs to be made by the Estate. Offers will be reviewed as they are received. Join us for an open house on Saturday, May 30, 2026, and Sunday, May 31, 2026, from 1 PM to 3 PM.

Key facts

• Finished attic
• Newer furnace
• Updated roof

Tags

• FINISHED ATTIC
• UPDATED ROOF
• CENTRAL AIR
• NEWER FURNACE
• MODERN HOT WATER TANK

Property features AI

Finance

• Financial info: Two-unit multi-family property with separate gas and electric meters for each unit; Tenants pay all utilities; Operating expense details: see remarks

Exterior

• Parking: Attached garage with 2 spaces
• Utilities: Public water (connected); Community/Coop sewer
• Home design: 3-story building; Resale property
• Construction: Vinyl siding; Shingle roof; Block foundation; Existing structure
• Exterior features: Rectangular residential lot; City street and main thoroughfare frontage; Lot dimensions approximately 35 x 105

Interior

• Kitchen: Each unit includes an eat-in kitchen and dining area
• Bedrooms: Two 3-bedroom units
• Flooring: Laminate and varying flooring
• Bathrooms: Each unit has 1 full bathroom (2 full bathrooms total)
• Heating & cooling: Gas forced-air heating; Central air conditioning
• Interior features: Attic; Full basement
• Laundry & utility: Electric and gas water heaters

What this means for you Summary

Snapshot

• This is a 2 × 3-bed/1.0-bath units multifamily listed at $220k.

Deal economics

• At list price, monthly cash flow is $2k ($19k/yr) — positive. Per door: $789/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($4k rent vs $220k).
• Recommended offer: $217k (1.5% below list) — sets the bar for market timing.
• Cap rate 14.9% 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: 54 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 $3,656/mo this rent would consume 91% of the median local household income ($48k/yr) (locally 723% 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 + 3.0% rent growth), your $62k cash investment doubles in ~4 years — after that, you're playing with house money.

Negotiation context

• It's been on market 21 days — a 2% lower offer ($217k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: built in 1890 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $216,700 (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 1890 — 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: 1.66% ✓
• Cap rate: 14.90%
• Cash-on-cash: 30.73%
• DSCR: 2.37
• GRM: 5.0

CMA / ARV

• ARV (on-the-fly): $185,196
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
125 Butler Ave	0.16mi	6/2.0	2,762 (+3%)	4mo	$145,000	$52	84
236 Brunswick Blvd	0.12mi	5/2.0 (-1)	2,779 (+4%)	4mo	$287,500	$103	80
192 Goulding Ave	0.21mi	6/2.0	2,476 (-8%)	2mo	$220,000	$89	76
21 Butler Ave	0.27mi	6/2.0	2,998 (+12%)	1mo	$215,000	$72	67
304 Northland Ave	0.12mi	6/2.0	2,288 (-15%)	4mo	$121,000	$53	66
26 Pleasant Pl	0.24mi	6/2.0	2,346 (-13%)	3mo	$162,000	$69	66
84 Monticello Pl	0.61mi	6/2.0	2,591 (-4%)	0mo	$145,000	$56	65
56 Eastwood Pl	0.58mi	6/2.0	2,487 (-7%)	4mo	$250,000	$101	58
509 E Utica St	0.52mi	6/2.0	2,976 (+11%)	3mo	$135,800	$46	55
622 Woodlawn Ave	0.40mi	6/2.0	2,288 (-15%)	3mo	$177,500	$78	54
73 Monticello Pl	0.58mi	6/2.0	2,424 (-10%)	3mo	$160,000	$66	54
497-499 Riley St	0.63mi	6/2.0	2,380 (-11%)	2mo	$105,900	$44	50

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 · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 25.4%
• Equity multiple: 2.05×
• Total profit: $64,741
• Equity at exit: $32,803

10-year hold

• IRR: 33.1%
• Equity multiple: 4.01×
• Total profit: $185,439
• Equity at exit: $19,022

Cash invested: $61,600 (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 14208

• Home prices YoY: -3.4%
• Active inventory: 54
• Price-to-rent: 10.0×

Monthly cashflow live

• Estimated rent: $3,656 high
• Mortgage (P&I): −$1,154
• Tax from tax record: −$65 /mo · $786/yr
• Insurance: −$92
• HOA: −$0
• Vacancy / Maint / Mgmt: −$768
• Net cashflow: $1,577

Break-even live

Break-even rent $1,659

Max offer price $220,000

Occupancy floor 52%

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

Units	Beds	Baths	Est. rent
▸ 2× units	3	1	$3,656
Total (2 units)			$3,656

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: $55,000
• Closing costs: $6,600
• 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	23d	1	1.33mi

Listing history 16 events

1. 2026-06-18
   status $220,000 Pending 21 DOM
2. 2026-06-18
   days on market $220,000 Active 21 DOM
3. 2026-06-17
   days on market $220,000 Active 20 DOM
4. 2026-06-16
   days on market $220,000 Active 19 DOM
5. 2026-06-15
   days on market $220,000 Active 18 DOM
6. 2026-06-13
   days on market $220,000 Active 16 DOM
7. 2026-06-13
   days on market $220,000 Active 15 DOM
8. 2026-06-10
   days on market $220,000 Active 13 DOM
9. 2026-06-09
   days on market $220,000 Active 12 DOM
10. 2026-06-08
    days on market $220,000 Active 11 DOM
11. 2026-06-07
    days on market $220,000 Active 10 DOM
12. 2026-06-03
    days on market $220,000 Active 6 DOM
13. 2026-06-02
    days on market $220,000 Active 5 DOM
14. 2026-06-01
    days on market $220,000 Active 4 DOM
15. 2026-05-31
    days on market $220,000 Active 3 DOM
16. 2026-05-28
    listed $220,000 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: $786 · $65/mo
• Projected year-2 tax: $2,252 · $188/mo
• Expected delta: +$1,466/yr (+$122/mo · 186.5%)

ⓘ 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 ≥93°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: $43,872
• − Mortgage interest: −$12,323
• − Property taxes: −$786
• − Insurance: −$1,100
• − Repairs & maintenance: −$3,510
• − Management: −$3,510
• − Depreciation: −$6,400
• Taxable income: $16,243
• Est. tax owed @ 24.0%: −$3,898
• After-tax cash flow: $15,030/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): 12,572
• Household income: $48,476
• Rent vs Own: 46.2% rent · 53.8% own
• Severe rent burden: 723.0

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 Black (72%)
• Race & ethnicity: Black 72% White 15% Asian 6% Two or more races 4% Hispanic / Latino 3%
• Common ancestry: Romanian 2% Italian 1% Hispanic 0%
• Foreign-born: 7% · Canada, South Korea, Philippines
• Languages at home: 89% English-only · Other Indo-European 3% Spanish 2% French/Haitian/Cajun 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: ▼ -16.37%
• Current HPI: 459.2084
• Rent YoY: —
• 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

• 2026-05-28 Listed $220,000 WNYREIS

Property tax history

+12.4%/yr

Latest (2025): $786 · +164.6% YoY. Source: county tax records.