197 Condon Ave · Buffalo, NY 14207

$184,900

3 bd · 2.0 ba · 1,712 sqft · SingleFamily public records · 26 Days on market

Built 1893 4,792 sqft lot Est $180k · at est.

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Why this score? — see what drove the D 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 +14.6/30.0
• ARV discount +6.2/15.0
• Rent growth +4.5/5.0
• DSCR +4.4/10.0
• Livability +3.9/5.0
• Schools +3.3/10.0
• 1% rule +2.8/10.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

OPEN HOUSE: Sun 8/27 1pm-3pm and Wed 8/30 6pm-8pm After being lovingly cared for by the same owners for an impressive 64 years, this house is now ready for its next chapter. Located just a short stroll from the picturesque Niagara River and Riverside Park, 197 Condon Ave offers a unique opportunity for any buyer. With 3 bedrooms and 2 full bathrooms, this 1712 square foot dwelling is a true gem. With a touch of TLC, the house can be restored to its former glory. A unique feature of this property is its past use as a double, presenting an opportunity for rental income. With full kitchens and bathrooms on both levels, the upstairs can be transformed into a 1-2 bedroom apartment, complete with a private rear entry. Situated on a large double lot, the property boasts an unusually spacious, fully fenced yard that has unlimited potential. Including a convenient curb cut on Eckhert, offering flexibility and ease of access. Whether it's creating additional parking or constructing a garage, your vision can come to life. Property sold as is. Sellers will make no repairs as the result of a property inspection. Listing agent is related to the sellers.

Key facts

• New furnace
• New plumbing
• Double lot

Tags

• NEW FURNACE
• NEW RADIATORS
• COMPLETE ROOF TEAR OFF
• NEW PLUMBING
• DOUBLE LOT

Property features AI

Exterior

• Parking: No garage; Driveway
• Utilities: Public water connected; Sewer connected; Electric service with circuit breakers
• Home design: Two-story existing home; Vinyl siding; Asphalt roof; Block foundation; City street frontage; Rectangular residential lot (32 x 166)
• Construction: Built (existing); Vinyl siding construction; Asphalt roof; Block foundation
• Exterior features: Awning(s); Concrete driveway; Open porch; Porch; Shed(s)/storage

Interior

• Kitchen: Gas oven; Gas range; Refrigerator
• Bedrooms: One main-level bedroom; Three additional bedrooms (bedroom 1 on first level; bedrooms 2 and 3 on second level)
• Flooring: Laminate; Vinyl; Varies
• Bathrooms: Two full bathrooms (one on the main level)
• Heating & cooling: Gas heating; Baseboard heating; Hot water/radiator heating; Circuit breakers (electric service)
• Interior features: Ceiling fan(s); Entrance foyer; Separate/formal living room; Second kitchen; Bedroom on main level; Has basement (crawl space, partial)
• Laundry & utility: Gas water heater

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $185k.

Deal economics

• At list price, monthly cash flow is $43 ($511/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $144k (22.1% below list).
• Recommended offer: $144k (22.1% below list) — sets the bar for 1% rule.

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.
• Zoned schools: International School (math 8% / reading 17%, grade F, #2,048 of 2,108 statewide, top 97%, 981 students, 92% FRL); Hutchinson Central Technical High School (math 96% / reading 32%, grade B-, #807 of 1,100 statewide, top 73%, 1,175 students, 78% FRL).
• Market conditions: Rents rising fast (+8.2%/yr); 199 active listings in the ZIP; 5 comparable units currently listed for rent nearby; rentals at typical pace (median 23d 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).
• This rent runs 43% of the median local income ($40k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $1k of loan paydown is wiped out by about $6k of value loss. Plan a longer hold.

Negotiation context

• It's been on market 26 days — a 2% lower offer ($182k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 3y ago with the ask held roughly flat each time — persistent listings suggest the price (not the market) is what's stuck; bring a comps-based counter.
• Current owner paid $130k; 42% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Watch-outs: built in 1893 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $144,046 (22.1% below list)

Questions for the listing agent

1. Built in 1893 — 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. The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?
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 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: 0.78% ✗
• Cap rate: 6.57%
• Cash-on-cash: 0.99%
• DSCR: 1.04
• GRM: 10.7

CMA / ARV

• ARV (on-the-fly): $179,760
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
111 Roesch Ave	0.08mi	3/1.0	1,650 (-4%)	9mo	$190,000	$115	78
53 Roswell Ave	0.29mi	3/1.5	1,554 (-9%)	1mo	$140,000	$90	69
907 Tonawanda St	0.42mi	4/1.0 (+1)	1,639 (-4%)	8mo	$110,000	$67	57
386 Esser Ave	0.43mi	4/1.0 (+1)	1,774 (+4%)	10mo	$97,500	$55	56
68 Riverside Ave	0.48mi	4/2.0 (+1)	1,624 (-5%)	10mo	$120,000	$74	56
84 Rosedale St	0.24mi	4/1.0 (+1)	1,550 (-10%)	10mo	$182,500	$118	56
88 Briggs Ave	0.57mi	4/2.0 (+1)	1,760 (+3%)	12mo	$185,000	$105	54
45 Riverside Ave	0.52mi	4/2.0 (+1)	1,573 (-8%)	12mo	$225,000	$143	47
5 Copeland Pl	0.74mi	4/1.0 (+1)	1,780 (+4%)	7mo	$70,000	$39	44
38 Heward Ave	0.67mi	3/1.5	1,474 (-14%)	1mo	$256,000	$174	42
44 Gallatin Ave	0.69mi	4/2.0 (+1)	1,532 (-10%)	5mo	$149,000	$97	41
22 Heward Ave	0.69mi	3/1.0	1,537 (-10%)	13mo	$170,000	$111	36

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 · 8.0% rent growth · sell at horizon

5-year hold

• IRR: -10.0%
• Equity multiple: 0.62×
• Total profit: $-19,728
• Equity at exit: $27,569

10-year hold

• IRR: 4.5%
• Equity multiple: 1.40×
• Total profit: $20,594
• Equity at exit: $15,987

Cash invested: $51,772 (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 14207

• Home prices YoY: -18.9%
• Rents YoY: 8.2%
• Active inventory: 199
• Price-to-rent: 10.7×

Monthly cashflow live

• Estimated rent: $1,440 high
• Mortgage (P&I): −$970
• Tax from tax record: −$49 /mo · $585/yr
• Insurance: −$77
• HOA: −$0
• Vacancy / Maint / Mgmt: −$302
• Net cashflow: $43

Break-even live

Break-even rent $1,387

Max offer price $184,900

Occupancy floor 92%

Sensitivity live

Price	-10% $147	-5% $95	+0% $43	+5% $-10	+10% $-62
Rent	-10% $-71	-5% $-14	+0% $43	+5% $99	+10% $156
Rate	-1.0pp $136	-0.5pp $90	base $43	+0.5pp $-5	+1.0pp $-54

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: $46,225
• Closing costs: $5,547
• Reserves months: —
• Total cash needed: —

Rent comps 5 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
61 Baxter St Buffalo, NY	3.0	1.0	2014	$1,400	$0.70	3d	1	0.06mi
158 Chadduck Ave Buffalo, NY	4.0	1.0	1200	$1,250	$1.04	25d	1	0.21mi
62 Seabrook St Buffalo, NY	4.0	1.0	1300	$2,000	$1.54	3d	1	0.55mi
118 Rano St Buffalo, NY	3.0	1.0	1050	$1,200	$1.14	23d	1	0.82mi
52 Greeley St Unit Upper Buffalo, NY	2.0	1.0	1804	$1,000	$0.55	25d	1	1.36mi

Listing history 25 events

1. 2026-06-21
   days on market $184,900 Active 26 DOM
2. 2026-06-18
   days on market $184,900 Active 23 DOM
3. 2026-06-17
   days on market $184,900 Active 22 DOM
4. 2026-06-16
   days on market $184,900 Active 21 DOM
5. 2026-06-15
   pricedays on market $184,900 Active 20 DOM
6. 2026-06-13
   days on market $190,000 Active 18 DOM
7. 2026-06-13
   days on market $190,000 Active 17 DOM
8. 2026-06-10
   days on market $190,000 Active 15 DOM
9. 2026-06-09
   days on market $190,000 Active 14 DOM
10. 2026-06-08
    days on market $190,000 Active 13 DOM
11. 2026-06-07
    days on market $190,000 Active 12 DOM
12. 2026-06-03
    days on market $190,000 Active 8 DOM
13. 2026-06-02
    days on market $190,000 Active 7 DOM
14. 2026-06-01
    days on market $190,000 Active 6 DOM
15. 2026-05-31
    days on market $190,000 Active 5 DOM
16. 2026-05-26
    listed $190,000 Active
17. 2024-05-04
    historical $1,495
18. 2024-05-01
    listed $1,495
19. 2023-12-14
    soldstatus $129,900
20. 2023-12-14
    soldstatus $129,900
21. 2023-12-06
    soldstatus $131,900 Closed Sale or Rented 1160-char remark

    Show marketing remark (1160 chars)

    OPEN HOUSE: Sun 8/27 1pm-3pm and Wed 8/30 6pm-8pm After being lovingly cared for by the same owners for an impressive 64 years, this house is now ready for its next chapter. Located just a short stroll from the picturesque Niagara River and Riverside Park, 197 Condon Ave offers a unique opportunity for any buyer. With 3 bedrooms and 2 full bathrooms, this 1712 square foot dwelling is a true gem. With a touch of TLC, the house can be restored to its former glory. A unique feature of this property is its past use as a double, presenting an opportunity for rental income. With full kitchens and bathrooms on both levels, the upstairs can be transformed into a 1-2 bedroom apartment, complete with a private rear entry. Situated on a large double lot, the property boasts an unusually spacious, fully fenced yard that has unlimited potential. Including a convenient curb cut on Eckhert, offering flexibility and ease of access. Whether it's creating additional parking or constructing a garage, your vision can come to life. Property sold as is. Sellers will make no repairs as the result of a property inspection. Listing agent is related to the sellers.

22. 2023-11-18
    status Pending Sale 1160-char remark

    Show marketing remark (1160 chars)

    OPEN HOUSE: Sun 8/27 1pm-3pm and Wed 8/30 6pm-8pm After being lovingly cared for by the same owners for an impressive 64 years, this house is now ready for its next chapter. Located just a short stroll from the picturesque Niagara River and Riverside Park, 197 Condon Ave offers a unique opportunity for any buyer. With 3 bedrooms and 2 full bathrooms, this 1712 square foot dwelling is a true gem. With a touch of TLC, the house can be restored to its former glory. A unique feature of this property is its past use as a double, presenting an opportunity for rental income. With full kitchens and bathrooms on both levels, the upstairs can be transformed into a 1-2 bedroom apartment, complete with a private rear entry. Situated on a large double lot, the property boasts an unusually spacious, fully fenced yard that has unlimited potential. Including a convenient curb cut on Eckhert, offering flexibility and ease of access. Whether it's creating additional parking or constructing a garage, your vision can come to life. Property sold as is. Sellers will make no repairs as the result of a property inspection. Listing agent is related to the sellers.

23. 2023-10-02
    status Under Contract- Do Not Show 1160-char remark

    Show marketing remark (1160 chars)

    OPEN HOUSE: Sun 8/27 1pm-3pm and Wed 8/30 6pm-8pm After being lovingly cared for by the same owners for an impressive 64 years, this house is now ready for its next chapter. Located just a short stroll from the picturesque Niagara River and Riverside Park, 197 Condon Ave offers a unique opportunity for any buyer. With 3 bedrooms and 2 full bathrooms, this 1712 square foot dwelling is a true gem. With a touch of TLC, the house can be restored to its former glory. A unique feature of this property is its past use as a double, presenting an opportunity for rental income. With full kitchens and bathrooms on both levels, the upstairs can be transformed into a 1-2 bedroom apartment, complete with a private rear entry. Situated on a large double lot, the property boasts an unusually spacious, fully fenced yard that has unlimited potential. Including a convenient curb cut on Eckhert, offering flexibility and ease of access. Whether it's creating additional parking or constructing a garage, your vision can come to life. Property sold as is. Sellers will make no repairs as the result of a property inspection. Listing agent is related to the sellers.

24. 2023-09-25
    historical Continue to Show- Under Contract 1160-char remark

    Show marketing remark (1160 chars)

    OPEN HOUSE: Sun 8/27 1pm-3pm and Wed 8/30 6pm-8pm After being lovingly cared for by the same owners for an impressive 64 years, this house is now ready for its next chapter. Located just a short stroll from the picturesque Niagara River and Riverside Park, 197 Condon Ave offers a unique opportunity for any buyer. With 3 bedrooms and 2 full bathrooms, this 1712 square foot dwelling is a true gem. With a touch of TLC, the house can be restored to its former glory. A unique feature of this property is its past use as a double, presenting an opportunity for rental income. With full kitchens and bathrooms on both levels, the upstairs can be transformed into a 1-2 bedroom apartment, complete with a private rear entry. Situated on a large double lot, the property boasts an unusually spacious, fully fenced yard that has unlimited potential. Including a convenient curb cut on Eckhert, offering flexibility and ease of access. Whether it's creating additional parking or constructing a garage, your vision can come to life. Property sold as is. Sellers will make no repairs as the result of a property inspection. Listing agent is related to the sellers.

25. 2023-08-15
    listed $129,900 Active 1160-char remark

    Show marketing remark (1160 chars)

    OPEN HOUSE: Sun 8/27 1pm-3pm and Wed 8/30 6pm-8pm After being lovingly cared for by the same owners for an impressive 64 years, this house is now ready for its next chapter. Located just a short stroll from the picturesque Niagara River and Riverside Park, 197 Condon Ave offers a unique opportunity for any buyer. With 3 bedrooms and 2 full bathrooms, this 1712 square foot dwelling is a true gem. With a touch of TLC, the house can be restored to its former glory. A unique feature of this property is its past use as a double, presenting an opportunity for rental income. With full kitchens and bathrooms on both levels, the upstairs can be transformed into a 1-2 bedroom apartment, complete with a private rear entry. Situated on a large double lot, the property boasts an unusually spacious, fully fenced yard that has unlimited potential. Including a convenient curb cut on Eckhert, offering flexibility and ease of access. Whether it's creating additional parking or constructing a garage, your vision can come to life. Property sold as is. Sellers will make no repairs as the result of a property inspection. Listing agent is related to the sellers.

ⓘ 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: $585 · $49/mo
• Projected year-2 tax: $1,855 · $155/mo
• Expected delta: +$1,270/yr (+$106/mo · 217.3%)

ⓘ 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 3 unhealthy d/yr today · 4 by 30 yrs out

Taxation est. · year 1

• Rental income: $17,286
• − Mortgage interest: −$10,357
• − Property taxes: −$585
• − Insurance: −$924
• − Repairs & maintenance: −$1,383
• − Management: −$1,383
• − Depreciation: −$5,379
• Taxable loss: −$2,725
• Est. tax savings @ 24.0%: +$654
• After-tax cash flow: $1,165/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): 26,327
• Household income: $39,753
• Rent vs Own: 65.0% rent · 35.0% own
• Severe rent burden: 2177.0

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: Highly diverse neighborhood (Simpson 0.74)
• Race & ethnicity: White 40% Hispanic / Latino 23% Black 16% Asian 15% Two or more races 14%
• Hispanic origin (detail): Puerto Rican 18% Dominican 2%
• Common ancestry: Romanian 8% Portuguese 1% Arab 1%
• Foreign-born: 19% · Philippines, Canada, India
• Languages at home: 65% English-only · Spanish 14% Other Asian/Pacific 10% Other Indo-European 5%

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: ▼ -54.42%
• Current HPI: 233.0902
• Rent YoY: ▲ 8.19%
• 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

+46.3% since first listed

10 events — show timeline

• 2026-05-26 Listed $190,000 WNYREIS
• 2024-05-04 Rental Removed $1,495 APPFOLIO
• 2024-05-01 Listed for Rent $1,495 APPFOLIO
• 2023-12-14 Sold (Public Records) $129,900 Public Records
• 2023-12-14 Sold (Public Records) $129,900 Public Records
• 2023-12-06 Sold (MLS) $131,900 WNYREIS
• 2023-11-18 Pending — WNYREIS
• 2023-10-02 Pending — WNYREIS
• 2023-09-25 Contingent — WNYREIS
• 2023-08-15 Listed $129,900 WNYREIS

Property tax history

+7.2%/yr

Latest (2025): $585 · +24.2% YoY. Source: county tax records.