269 Colvin Ave · Buffalo, NY 14216

$299,000

3 bd · 2.0 ba · 2,070 sqft · MultiFamily public records · 43 Days on market

Built 1925 $144/sqft · 54% below area

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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 +26.1/30.0
• DSCR +8.8/10.0
• ARV discount +7.5/15.0
• 1% rule +5.7/10.0
• 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 (2-4 Unit). Listing-text estimate: 1 unit. estimate disagrees with records

Listing remarks

Just steps from Hertel Avenue, this two-unit property puts you right in the heart of one of Buffalo’s most vibrant and in-demand neighborhoods. Featuring upper and lower units, each offering 2 bedrooms and 1 full bathroom, the home provides flexible layouts with plenty of character. The lower unit showcases hardwood flooring, while both units are filled with natural light, offer spacious living areas, and feature generous closet space. Additional attic storage adds even more versatility. Separate utilities for each unit make this an excellent opportunity for investors or owner-occupants alike. The basement includes a new washer and dryer for added convenience. A brand-new roof (2024)

Key facts

• Hardwood flooring
• Two unit property
• Attic storage

Tags

• TWO UNIT PROPERTY
• HARDWOOD FLOORING
• NATURAL LIGHT
• SPACIOUS LIVING AREAS
• GENEROUS CLOSET SPACE
• ATTIC STORAGE

Property features AI

Finance

• Other: Owner pays grounds care, garage, hot water, snow removal, trash collection and water; Rent includes common area maintenance, gardener, hot water, parking, snow removal, trash collection and water; Both units are leased (Unit 1 rent $790, lease through October 31, 2026; Unit 2 rent $880, lease through April 30, 2027)
• Financial info: Property has 2 total units with separate gas and electric meters for each unit; Operating expenses include accounting, insurance, maintenance (structure and general), professional management, rent collection, snow removal, trash, and water/sewer

Exterior

• Parking: Common paved parking; Detached garage with 2 garage spaces and garage door opener
• Utilities: Electricity connected; Public water connected; Sewer connected
• Home design: Two-story multi-unit building; Existing construction
• Construction: Vinyl siding; Shingle roof; Poured and slab foundation; Resale property
• Exterior features: Fully fenced yard; Covered porch; Porch

Interior

• Kitchen: Dishwasher, oven/range, refrigerator; Dining area with kitchen in units
• Bedrooms: Each unit has 2 bedrooms
• Flooring: Carpet; Hardwood; Laminate; Varies by area
• Bathrooms: Two full bathrooms total (one full bathroom per unit)
• Heating & cooling: Gas heating with baseboard and hot water systems
• Interior features: Carpet, hardwood, laminate and varying floor materials; One fireplace
• Laundry & utility: Common area laundry; Gas water heater

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath multifamily listed at $299k.

Deal economics

• At list price, monthly cash flow is $756 ($9k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $299k).
• Recommended offer: $290k (3.0% below list) — sets the bar for market timing.

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 (+3.6%/yr); 88 active listings in the ZIP; 14 comparable units currently listed for rent nearby; rentals at typical pace (median 24d on market — plan ~3-4 weeks tenant-placement turnaround); 1,244 units permitted in Erie County in 2024 (563 in 5+ unit buildings).
• At $3,203/mo this rent would consume 55% 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 $2k of loan paydown is wiped out by about $9k of value loss. Plan a longer hold.
• At projected returns (-3.0% appreciation + 3.6% rent growth), your $84k cash investment doubles in ~10 years — after that, you're playing with house money.

Negotiation context

• It's been on market 43 days — a 3% lower offer ($290k) is reasonable based on typical stale-listing flexibility.
• Current owner paid $45k; list at $299k implies a 564% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

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

Recommended offer $290,030 (3.0% below list)

Questions for the listing agent

1. It's been on market 43 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. Built in 1925 — 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 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: 1.07% ✓
• Cap rate: 9.33%
• Cash-on-cash: 10.83%
• DSCR: 1.48
• GRM: 7.8

CMA / ARV

• ARV (median comp): $647,478
• List price: $299,000
• Delta: -53.82%
• 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
301 Crestwood Ave	0.36mi	4/2.0 (+1)	2,024 (-2%)	3mo	$359,000	$177	72
19 Avery Ave	0.52mi	4/2.0 (+1)	2,107 (+2%)	2mo	$275,000	$131	65
9 Lovering Ave	0.21mi	4/2.0 (+1)	2,154 (+4%)	18mo	$168,000	$78	64
287 Crestwood Ave	0.33mi	4/2.0 (+1)	2,024 (-2%)	16mo	$290,000	$143	62
38 Delham Ave	0.59mi	4/2.0 (+1)	2,080 (+0%)	6mo	$365,000	$175	62
508 Linden Ave	0.31mi	4/2.0 (+1)	1,856 (-10%)	4mo	$240,000	$129	60
432 Linden Ave	0.27mi	4/2.0 (+1)	1,824 (-12%)	7mo	$312,150	$171	57
4 Avery Ave	0.49mi	4/2.0 (+1)	1,940 (-6%)	11mo	$290,000	$149	53
59 Knox Ave	0.50mi	4/2.0 (+1)	2,170 (+5%)	15mo	$210,000	$97	51
397 Sanders Rd	0.63mi	4/2.0 (+1)	1,804 (-13%)	5mo	$270,000	$150	40
49 Hobmoor Ave	0.69mi	4/2.0 (+1)	1,894 (-8%)	10mo	$343,000	$181	40
28 Campbell Ave	0.68mi	4/2.0 (+1)	1,856 (-10%)	15mo	$350,080	$189	34

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 · 3.65% rent growth · sell at horizon

5-year hold

• IRR: 0.5%
• Equity multiple: 1.02×
• Total profit: $1,646
• Equity at exit: $44,582

10-year hold

• IRR: 10.7%
• Equity multiple: 1.86×
• Total profit: $71,629
• Equity at exit: $25,852

Cash invested: $83,720 (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: 88
• Price-to-rent: 15.6×

Monthly cashflow live

• Estimated rent: $3,203 high
• Mortgage (P&I): −$1,568
• Tax from tax record: −$82 /mo · $987/yr
• Insurance: −$125
• HOA: −$0
• Vacancy / Maint / Mgmt: −$673
• Net cashflow: $756

Break-even live

Break-even rent $2,247

Max offer price $299,000

Occupancy floor 71%

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

Units	Beds	Baths	Est. rent
▸ 2× units	2	1	$3,204
Total (2 units)			$3,203

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: $74,750
• Closing costs: $8,970
• Reserves months: —
• Total cash needed: —

Rent comps 14 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
79 Commonwealth Ave Buffalo, NY	3.0	1.0	1450	$1,600	$1.10	23d	1	0.15mi
88 Commonwealth Ave Buffalo, NY	3.0	1.0	2710	$1,695	$0.63	12d	1	0.17mi
359 Colvin Ave Buffalo, NY	3.0	1.0	2010	$2,100	$1.04	23d	1	0.19mi
77 Lovering Ave #2 Buffalo, NY	3.0	1.0	1450	$1,895	$1.31	44d	1	0.24mi
301 Crestwood Ave Buffalo, NY	2.0	1.0	2024	$1,700	$0.84	44d	1	0.37mi
309 N Park Ave Buffalo, NY	3.0	1.0	2560	$1,750	$0.68	14d	1	0.40mi
307 Sterling Ave Buffalo, NY	3.0	1.0	1632	$1,800	$1.10	3d	1	0.48mi
146 Wallace Ave Buffalo, NY	3.0	1.0	2706	$1,700	$0.63	44d	1	0.60mi
2514 Delaware Ave Unit 1 Buffalo, NY	3.0	1.0	1620	$1,650	$1.02	2d	1	0.61mi
202 Summit Ave Unit 1 Buffalo, NY	3.0	1.0	2000	$2,400	$1.20	23d	1	0.85mi
163 Carmel Rd Buffalo, NY	3.0	1.0	1400	$1,800	$1.29	3d	1	1.13mi
139 Fordham Dr Buffalo, NY	3.0	1.0	1453	$1,700	$1.17	23d	1	1.14mi
52 Greeley St Unit Upper Buffalo, NY	2.0	1.0	1804	$1,000	$0.55	23d	1	1.20mi
351 Stillwell Ave Buffalo, NY	3.0	1.0	2586	$1,800	$0.70	23d	1	1.38mi

Listing history 16 events

1. 2026-06-18
   days on market $299,000 Active 43 DOM
2. 2026-06-17
   days on market $299,000 Active 42 DOM
3. 2026-06-16
   days on market $299,000 Active 41 DOM
4. 2026-06-15
   days on market $299,000 Active 40 DOM
5. 2026-06-13
   days on market $299,000 Active 38 DOM
6. 2026-06-13
   days on market $299,000 Active 37 DOM
7. 2026-06-10
   days on market $299,000 Active 35 DOM
8. 2026-06-09
   days on market $299,000 Active 34 DOM
9. 2026-06-08
   days on market $299,000 Active 33 DOM
10. 2026-06-07
    days on market $299,000 Active 32 DOM
11. 2026-06-03
    days on market $299,000 Active 28 DOM
12. 2026-06-02
    days on market $299,000 Active 27 DOM
13. 2026-06-01
    days on market $299,000 Active 26 DOM
14. 2026-05-31
    days on market $299,000 Active 25 DOM
15. 2026-05-06
    listed $299,000 Active 1156-char remark
16. 2000-04-06
    soldstatus $45,000

ⓘ 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: $987 · $82/mo
• Projected year-2 tax: $3,020 · $252/mo
• Expected delta: +$2,033/yr (+$169/mo · 205.9%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Climate risk First Street

• 🌊 Flood 3/10 Moderate FEMA zone X (unshaded) · 20% 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 4/10 Moderate 4 unhealthy d/yr today · 9 by 30 yrs out

Taxation est. · year 1

• Rental income: $38,436
• − Mortgage interest: −$16,749
• − Property taxes: −$987
• − Insurance: −$1,495
• − Repairs & maintenance: −$3,075
• − Management: −$3,075
• − Depreciation: −$8,698
• Taxable income: $4,357
• Est. tax owed @ 24.0%: −$1,046
• After-tax cash flow: $8,021/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

+564.4% since first listed

2 events — show timeline

• 2026-05-06 Listed $299,000 WNYREIS
• 2000-04-06 Sold (Public Records) $45,000 Public Records

Property tax history

+5.4%/yr

Latest (2025): $987 · +3.0% YoY. Source: county tax records.