469 Hinman Ave · Buffalo, NY 14216

$250,000

6 bd · 2.0 ba · 2,024 sqft · MultiFamily public records · 10 Days on market

Built 1930 3,060 sqft lot $124/sqft · 29% below area Est $353k · 29% under

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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
• ARV discount +15.0/15.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• 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

Welcome to 469 Hinman! A beautifully updated 3/3 double ideally located near all the amenities of Kenmore and North Buffalo. This turnkey property features two fully renovated units, each offering fresh paint, updated bathrooms, luxury vinyl plank flooring, new carpet, and stylish kitchens complete with new cabinetry and quartz countertops (appliances included). Major improvements include a newer tear-off roof, updated mechanicals, newer plumbing and replacement windows throughout, providing peace of mind for years to come. The exterior offers a low-maintenance combination of siding and brick, while the spacious yard includes a swing set and storage shed, perfect for outdoor enjoyment. Offe

Key facts

• 3,060 sq ft lot
• Built 1930
• Listed 10 days

Property features AI

Finance

• Financial info: Operating expense details: See remarks; Owner pays: Other (see remarks); Rent includes: See remarks

Exterior

• Parking: Paved parking area
• Utilities: Electricity connected (circuit breakers); Public water connected; Sewer connected; High-speed internet available
• Home design: 2-story building; Resale property
• Construction: Brick and vinyl siding exterior; Architectural shingle roof; Copper and PEX plumbing
• Exterior features: Paved parking; Near public transit; Rectangular lot (approx. 34 x 90)

Interior

• Kitchen: No specific appliances listed
• Bedrooms: Two 3-bedroom units
• Flooring: Carpet; Luxury vinyl; Varies by area
• Bathrooms: Each unit has one full bathroom (2 full bathrooms total)
• Heating & cooling: Gas forced-air heating
• Interior features: Full basement
• Laundry & utility: Gas water heater

What this means for you Summary

Snapshot

• This is a 6-bed/2.0-bath multifamily listed at $250k.

Deal economics

• At list price, monthly cash flow is $3k ($33k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($5k rent vs $250k).
• Cap rate 19.4% 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 rising (+3.6%/yr); 91 active listings in the ZIP; 1,244 units permitted in Erie County in 2024 (563 in 5+ unit buildings).
• At $5,308/mo this rent would consume 91% 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 $8k of value loss. Plan a longer hold.
• At projected returns (-3.0% appreciation + 3.6% rent growth), your $70k cash investment doubles in ~3 years — after that, you're playing with house money.

Negotiation context

• Only 10 days on market — expect competitive offers; lowballing is unlikely to land.
• Current owner paid $165k; list at $250k implies a 52% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1930 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: major flood risk — expect insurance premiums to compound above CPI over the hold.

Recommended offer $250,000

Questions for the listing agent

1. Built in 1930 — 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: 2.12% ✓
• Cap rate: 19.39%
• Cash-on-cash: 46.78%
• DSCR: 3.08
• GRM: 3.9

CMA / ARV

• ARV (median comp): $353,325
• List price: $250,000
• Delta: -29.24%
• 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
74 Philadelphia St	0.55mi	6/2.0	2,160 (+7%)	5mo	$170,000	$79	59
43 Sunset St	0.56mi	6/2.0	2,271 (+12%)	1mo	$165,000	$73	53
395 Ontario St	0.62mi	5/2.0 (-1)	1,908 (-6%)	8mo	$270,000	$142	50
153 Hinman Ave	0.61mi	5/2.0 (-1)	2,152 (+6%)	8mo	$150,000	$70	49
129 Philadelphia St	0.46mi	6/2.0	2,292 (+13%)	9mo	$250,000	$109	49
312 Victoria Blvd	0.52mi	5/2.0 (-1)	2,302 (+14%)	1mo	$320,000	$139	47
92 Greeley St	0.50mi	5/2.0 (-1)	1,766 (-13%)	6mo	$220,000	$125	46
41 Page St	0.57mi	5/2.0 (-1)	2,274 (+12%)	4mo	$230,000	$101	45
30 Sunset St	0.58mi	6/2.0	1,840 (-9%)	17mo	$230,000	$125	44
52 Sunset St	0.53mi	6/2.0	2,304 (+14%)	16mo	$230,000	$100	39
64 Gladstone St	0.73mi	6/2.0	1,720 (-15%)	6mo	$118,000	$69	36
378 Wabash Ave	0.57mi	5/2.0 (-1)	2,299 (+14%)	13mo	$285,000	$124	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 · 3.65% rent growth · sell at horizon

5-year hold

• IRR: 44.8%
• Equity multiple: 2.95×
• Total profit: $136,687
• Equity at exit: $37,276

10-year hold

• IRR: 50.9%
• Equity multiple: 6.10×
• Total profit: $356,997
• Equity at exit: $21,615

Cash invested: $70,000 (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: 91
• Price-to-rent: 11.8×

Monthly cashflow live

• Estimated rent: $5,308 medium
• Mortgage (P&I): −$1,311
• Tax from tax record: −$50 /mo · $594/yr
• Insurance: −$104
• HOA: −$0
• Vacancy / Maint / Mgmt: −$1,115
• Net cashflow: $2,729

Break-even live

Break-even rent $1,854

Max offer price $250,000

Occupancy floor 44%

Sensitivity live

Price	-10% $2,870	-5% $2,799	+0% $2,729	+5% $2,658	+10% $2,587
Rent	-10% $2,309	-5% $2,519	+0% $2,729	+5% $2,938	+10% $3,148
Rate	-1.0pp $2,854	-0.5pp $2,792	base $2,729	+0.5pp $2,664	+1.0pp $2,598

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

Units	Beds	Baths	Est. rent
▸ 3× units	3	1	$5,307
Total (3 units)			$5,308

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: $62,500
• Closing costs: $7,500
• Reserves months: —
• Total cash needed: —

Listing history 4 events

1. 2026-05-08
   status Pending 808-char remark
2. 2026-04-28
   listed $250,000 Active 808-char remark
3. 2026-01-16
   soldstatus $165,000
4. 2025-12-04
   soldstatus $90,000

ⓘ 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: $594 · $50/mo
• Projected year-2 tax: $2,410 · $201/mo
• Expected delta: +$1,815/yr (+$151/mo · 305.4%)

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

Climate risk First Street

• 🌊 Flood 6/10 Major FEMA zone X (unshaded) · 71% 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 3 unhealthy d/yr today · 4 by 30 yrs out

Taxation est. · year 1

• Rental income: $63,696
• − Mortgage interest: −$14,004
• − Property taxes: −$594
• − Insurance: −$1,250
• − Repairs & maintenance: −$5,096
• − Management: −$5,096
• − Depreciation: −$7,273
• Taxable income: $30,384
• Est. tax owed @ 24.0%: −$7,292
• After-tax cash flow: $25,451/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

+177.8% since first listed

4 events — show timeline

• 2026-05-08 Pending — WNYREIS
• 2026-04-28 Listed $250,000 WNYREIS
• 2026-01-16 Sold (Public Records) $165,000 Public Records
• 2025-12-04 Sold (Public Records) $90,000 Public Records

Property tax history

+7.4%/yr

Latest (2025): $594 · +65.7% YoY. Source: county tax records.