54 Decker St · Buffalo, NY 14215

$94,900

4 bd · 2.0 ba · 1,564 sqft · MultiFamily public records · 17 Days on market

Built 1925 4,191 sqft lot $61/sqft · 62% below area

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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
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• ARV discount +7.5/15.0
• Livability +3.9/5.0
• Schools +3.3/10.0
• Rent growth +2.7/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Multi-family units

County records classify this as Multi-Family (2-4 Unit). Listing-text estimate: 1 unit. estimate disagrees with records

Listing remarks

Come see this multifamily home in a great location. Lower unit has a Florida room and a deck. Both units have a dining room and a living room. 2/1 double. Plenty of potential. Great rental or owner occupied.

Key facts

• Living room
• Great location
• Florida room

Tags

• FLORIDA ROOM
• DECK
• DINING ROOM
• LIVING ROOM
• MULTIFAMILY HOME
• GREAT LOCATION

Property features AI

Finance

• Other: Property contains 2 total units; owner pays: other/see remarks; rent details noted as see remarks
• Financial info: Operating expenses may include electric, fuel, insurance, professional management, and water/sewer

Exterior

• Parking: Has garage with 1 garage space; Additional parking: two or more spaces
• Utilities: Electricity connected; Public water connected; Sewer connected
• Home design: Single-story building; Resale property
• Construction: Vinyl siding; Asphalt and metal roofing; Block foundation; Existing (previously built)
• Exterior features: Deck; Porch; Fully fenced yard; Near public transit; Rectangular residential lot, city street frontage; Lot dimensions approximately 33 x 127

Interior

• Kitchen: Gas water heater
• Bedrooms: One 1-bedroom unit; One 2-bedroom unit (includes porch)
• Flooring: Carpet; Laminate; Vinyl; Varies
• Bathrooms: Two full bathrooms (one in each unit)
• Heating & cooling: Gas forced-air heating
• Interior features: Full basement; Dining area open to living room
• Laundry & utility: Shared utilities include electric and gas metering (one separate gas meter, one separate electric meter)

What this means for you Summary

Snapshot

• This is a 4-bed/2.0-bath multifamily listed at $95k.

Deal economics

• At list price, monthly cash flow is $1k ($16k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $95k).
• Recommended offer: $93k (1.5% below list) — sets the bar for market timing.
• Cap rate 22.9% 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: Rents flat; 239 active listings in the ZIP; 16 comparable units currently listed for rent nearby; rentals at typical pace (median 16d on market — plan ~3-4 weeks tenant-placement turnaround); lower-income renter base — watch delinquency; 1,244 units permitted in Erie County in 2024 (563 in 5+ unit buildings).
• At $2,393/mo this rent would consume 64% of the median local household income ($45k/yr) (locally 2873% 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 $656 of loan paydown is wiped out by about $3k of value loss. Plan a longer hold.
• At projected returns (-3.0% appreciation + 0.7% rent growth), your $27k cash investment doubles in ~2 years — after that, you're playing with house money.

Negotiation context

• It's been on market 17 days — a 2% lower offer ($93k) is reasonable based on typical stale-listing flexibility.
• 5 sale attempts since 2y ago; this cycle's ask has dropped $850k (90%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $80k; 19% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Watch-outs: built in 1925 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $93,476 (1.5% below list)

Questions for the listing agent

1. Built in 1925 — 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 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: 2.52% ✓
• Cap rate: 22.92%
• Cash-on-cash: 59.40%
• DSCR: 3.64
• GRM: 3.3

CMA / ARV

• ARV (median comp): $248,349
• List price: $94,900
• Delta: -61.79%
• 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
376 Norfolk Ave	0.32mi	4/2.0	1,536 (-2%)	3mo	$160,000	$104	79
73 Oakmont Ave	0.35mi	4/2.0	1,616 (+3%)	6mo	$215,000	$133	73
9 Alma Ave	0.17mi	5/2.0 (+1)	1,630 (+4%)	9mo	$82,000	$50	72
17 Proctor Ave	0.24mi	4/2.0	1,756 (+12%)	8mo	$175,000	$100	62
112 Hazelwood Ave	0.70mi	4/2.0	1,498 (-4%)	1mo	$87,000	$58	60
49 Thornton Ave	0.71mi	4/2.0	1,529 (-2%)	6mo	$100,000	$65	59
160 Courtland Ave	0.57mi	4/2.0	1,620 (+4%)	13mo	$160,000	$99	57
20 Ericson Ave	0.70mi	4/2.0	1,563 (-0%)	16mo	$123,000	$79	54
213 Hagen St	0.71mi	4/2.0	1,509 (-4%)	9mo	$150,000	$99	54
84 Parkridge Ave	0.63mi	4/2.0	1,452 (-7%)	9mo	$86,000	$59	51
274 Newburgh Ave	0.60mi	5/2.0 (+1)	1,754 (+12%)	4mo	$185,000	$105	44
265 Hagen St	0.64mi	3/2.0 (-1)	1,344 (-14%)	8mo	$172,000	$128	35

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 · 0.67% rent growth · sell at horizon

5-year hold

• IRR: 55.5%
• Equity multiple: 3.37×
• Total profit: $62,897
• Equity at exit: $14,150

10-year hold

• IRR: 59.7%
• Equity multiple: 6.31×
• Total profit: $141,113
• Equity at exit: $8,205

Cash invested: $26,572 (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 14215

• Home prices YoY: -30.0%
• Rents YoY: 0.7%
• Active inventory: 239
• Price-to-rent: 6.6×

Monthly cashflow live

• Estimated rent: $2,393 high
• Mortgage (P&I): −$498
• Tax from tax record: −$38 /mo · $456/yr
• Insurance: −$40
• HOA: −$0
• Vacancy / Maint / Mgmt: −$503
• Net cashflow: $1,315

Break-even live

Break-even rent $728

Max offer price $94,900

Occupancy floor 40%

Sensitivity live

Price	-10% $1,369	-5% $1,342	+0% $1,315	+5% $1,288	+10% $1,262
Rent	-10% $1,126	-5% $1,221	+0% $1,315	+5% $1,410	+10% $1,504
Rate	-1.0pp $1,363	-0.5pp $1,339	base $1,315	+0.5pp $1,291	+1.0pp $1,266

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

Units	Beds	Baths	Est. rent
▸ 2× units	2	1	$2,394
Total (2 units)			$2,393

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: $23,725
• Closing costs: $2,847
• Reserves months: —
• Total cash needed: —

Rent comps 16 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
74 Dorris Ave Buffalo, NY	3.0	1.0	1200	$1,450	$1.21	44d	1	0.18mi
25 Parkridge Ave Buffalo, NY	3.0	1.0	1914	$1,350	$0.71	15d	1	0.53mi
189 Westminster Ave Buffalo, NY	4.0	1.5	1065	$1,595	$1.50	11d	1	0.96mi
65 Domedion Ave Buffalo, NY	3.0	1.0	1632	$1,500	$0.92	2d	1	1.19mi
263 Minnesota Ave Unit Upper Buffalo, NY	3.0	1.0	1242	$1,500	$1.21	15d	1	1.20mi
265 Lisbon Ave Unit 2 Buffalo, NY	3.0	1.0	1200	$1,400	$1.17	44d	1	1.26mi
89 Lasalle Ave Buffalo, NY	1.0–4.0	1.0–4.0	1024	$2,997	$2.93	2d	10	1.29mi
175 Lisbon Ave Buffalo, NY	5.0	2.0	2000	$2,500	$1.25	15d	1	1.31mi
222 Lisbon Ave Buffalo, NY	4.0	1.0	1300	$1,400	$1.08	24d	1	1.31mi
222 Lisbon Ave Unit Upper Buffalo, NY	3.0	1.0	1400	$1,400	$1.00	44d	1	1.31mi
517 Goodyear Ave Buffalo, NY	3.0	1.0	1559	$1,800	$1.15	20d	1	1.33mi
85 Highgate Ave Buffalo, NY	5.0	2.0	2193	$3,750	$1.71	15d	1	1.43mi
65 Northrup Pl Buffalo, NY	5.0	2.0	1467	$2,500	$1.70	15d	1	1.49mi
96 Academy Rd Buffalo, NY	3.0	1.0	2247	$1,400	$0.62	24d	1	1.49mi
76 Vernon Pl Unit Lower Buffalo, NY	3.0	1.0	1190	$1,445	$1.21	15d	1	1.49mi
76 Vernon Pl Unit Upper Buffalo, NY	3.0	1.0	1190	$1,595	$1.34	15d	1	1.49mi

Listing history 15 events

1. 2026-05-11
   status Pending 207-char remark
2. 2026-04-24
   price $94,900 207-char remark
3. 2026-04-24
   listed $944,900 Active 207-char remark
4. 2025-08-21
   historical
5. 2025-06-21
   listed $130,000 Active
6. 2025-02-23
   historical
7. 2025-01-23
   listed $99,900 Active
8. 2025-01-16
   historical
9. 2024-10-16
   listed $109,900 Active
10. 2024-08-28
    historical
11. 2024-07-04
    price $112,900
12. 2024-06-04
    price $114,900
13. 2024-05-15
    listed $119,900 Active
14. 2021-04-28
    soldstatus $80,000
15. 2011-04-01
    soldstatus $80,000

ⓘ 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: $456 · $38/mo
• Projected year-2 tax: $1,030 · $86/mo
• Expected delta: +$574/yr (+$48/mo · 126.0%)

ⓘ 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: $28,716
• − Mortgage interest: −$5,316
• − Property taxes: −$456
• − Insurance: −$474
• − Repairs & maintenance: −$2,297
• − Management: −$2,297
• − Depreciation: −$2,761
• Taxable income: $15,115
• Est. tax owed @ 24.0%: −$3,628
• After-tax cash flow: $12,156/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): 42,524
• Household income: $44,955
• Rent vs Own: 50.0% rent · 50.0% own
• Severe rent burden: 2873.0

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 (67%)
• Race & ethnicity: Black 67% White 15% Asian 7% Hispanic / Latino 6% Two or more races 6%
• Hispanic origin (detail): Puerto Rican 4%
• Common ancestry: Romanian 4% Lithuanian 1% Italian 1%
• Foreign-born: 9% · Canada, China
• Languages at home: 88% English-only · Other Indo-European 4% Spanish 4% Chinese 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: ▼ -126.29%
• Current HPI: 295.2966
• Rent YoY: ▲ 0.67%
• 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

+18.6% since first listed

15 events — show timeline

• 2026-05-11 Pending — WNYREIS
• 2026-04-24 Price Changed $94,900 WNYREIS
• 2026-04-24 Listed $944,900 WNYREIS
• 2025-08-21 Listing Removed — WNYREIS
• 2025-06-21 Listed $130,000 WNYREIS
• 2025-02-23 Listing Removed — WNYREIS
• 2025-01-23 Listed $99,900 WNYREIS
• 2025-01-16 Listing Removed — WNYREIS
• 2024-10-16 Listed $109,900 WNYREIS
• 2024-08-28 Listing Removed — WNYREIS
• 2024-07-04 Price Changed $112,900 WNYREIS
• 2024-06-04 Price Changed $114,900 WNYREIS
• 2024-05-15 Listed $119,900 WNYREIS
• 2021-04-28 Sold (Public Records) $80,000 Public Records
• 2011-04-01 Sold (Public Records) $80,000 Public Records

Property tax history

+6.6%/yr

Latest (2025): $456 · +89.1% YoY. Source: county tax records.