1332 West Ave · Buffalo, NY 14213

$199,900

4 bd · 2.0 ba · 2,057 sqft · Townhouse public records · 78 Days on market

Built 1880 3,000 sqft lot $97/sqft · 27% below area Est $274k · 27% 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 +25.2/30.0
• ARV discount +15.0/15.0
• Appreciation +8.8/10.0
• DSCR +8.2/10.0
• 1% rule +5.3/10.0
• Livability +3.9/5.0
• Schools +3.3/10.0
• Condition / age +2.5/5.0
• Rent growth +2.4/5.0

Listing remarks MLS

Fully vacant 2/2 double in the heart of Buffalo’s West Side offering immediate income potential and flexibility for investors or owner-occupants. Each unit features 2 bedrooms with thoughtful updates throughout. The lower unit highlights a unique fireplace feature with brick detail in the primary bedroom, along with an updated bathroom and convenient in-unit laundry hookups. The upper unit includes updated flooring, cabinetry, and stainless steel appliances. Exterior improvements include maintenance-free vinyl siding and a newer roof, helping reduce major capital expenses. Ideal for house hacking live in one unit while renting the other or for investors looking to set market rents from day one with a fully vacant property. Located in a high-demand rental area close to local amenities, this property offers strong upside and long-term value. Don’t miss your opportunity on this one!

Key facts

• Young roof
• Updated bathroom
• Built 1880

Tags

• FIREPLACE IN PRIMARY BEDROOM
• UPDATED BATHROOM
• NEWER REPLACEMENT WINDOWS
• KITCHEN CABINETRY UPDATED
• MAINTENANCE FREE VINYL SIDING
• YOUNG ROOF

What this means for you Summary

Snapshot

• This is a 4-bed/2.0-bath townhouse listed at $200k.

Deal economics

• At list price, monthly cash flow is $445 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $200k).
• Recommended offer: $188k (6.0% 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 soft (-0.5%/yr); 137 active listings in the ZIP; 11 comparable units currently listed for rent nearby; rentals at typical pace (median 14d on market — plan ~3-4 weeks tenant-placement turnaround); 1,244 units permitted in Erie County in 2024 (563 in 5+ unit buildings).
• At $2,064/mo this rent would consume 46% of the median local household income ($54k/yr) (locally 1501% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

Forward outlook

• In year one you build about $16k of equity ($1k loan paydown + $15k appreciation (7.5% local appreciation)).
• At projected returns (7.5% appreciation + 0.0% rent growth), your $56k cash investment doubles in ~3 years — after that, you're playing with house money.
• By year 3, paydown + projected appreciation supports a ~$41k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 78 days — a 6% lower offer ($188k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts since 6y ago; this cycle's ask has dropped $20k (9%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $78k; list at $200k implies a 156% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1880 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $187,906 (6.0% below list)

Questions for the listing agent

1. It's been on market 78 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
2. Built in 1880 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
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 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: 1.03% ✓
• Cap rate: 8.96%
• Cash-on-cash: 9.54%
• DSCR: 1.42
• GRM: 8.1

CMA / ARV

• ARV (median comp): $273,708
• List price: $199,900
• Delta: -26.97%
• Verdict: UNDERPRICED
• Comps: 16 within 1.0 mi

Show comp detail 1 sale within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
43 Congress St	0.57mi	4/2.0	1,922 (-7%)	4mo	$250,000	$130	59

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

7.51% appreciation · 0.0% rent growth · sell at horizon

5-year hold

• IRR: 25.1%
• Equity multiple: 2.76×
• Total profit: $98,364
• Equity at exit: $145,282

10-year hold

• IRR: 21.9%
• Equity multiple: 5.52×
• Total profit: $253,023
• Equity at exit: $282,318

Cash invested: $55,972 (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 14213

• Home prices YoY: 1.7%
• Rents YoY: -0.5%
• Active inventory: 137
• Price-to-rent: 8.1×

Monthly cashflow live

• Estimated rent: $2,064 high
• Mortgage (P&I): −$1,048
• Tax from tax record: −$54 /mo · $650/yr
• Insurance: −$83
• HOA: −$0
• Vacancy / Maint / Mgmt: −$434
• Net cashflow: $445

Break-even live

Break-even rent $1,501

Max offer price $199,900

Occupancy floor 73%

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: $49,975
• Closing costs: $5,997
• Reserves months: —
• Total cash needed: —

Rent comps 11 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
100 Forest Ave Buffalo, NY	2.0–4.0	2.0–4.0	1304	$2,560	$1.96	1d	14	0.15mi
836 Richmond Ave Buffalo, NY	4.0	3.5	1982	$4,500	$2.27	43d	1	0.75mi
83 Baynes St Unit Lower Buffalo, NY	3.0	1.0	2550	$1,850	$0.73	14d	1	0.83mi
40 Putnam St Buffalo, NY	4.0	1.0	1600	$2,100	$1.31	23d	1	0.84mi
11 Hoyt St Buffalo, NY	4.0	1.0	2848	$1,775	$0.62	14d	1	0.90mi
78 Germain St Buffalo, NY	3.0	1.0	2030	$1,300	$0.64	14d	1	0.93mi
405 W Ferry St Unit Lower Buffalo, NY	3.0	1.0	2480	$1,500	$0.60	43d	1	0.95mi
740 Elmwood Ave Buffalo, NY	3.0	1.0	2000	$1,995	$1.00	14d	1	1.16mi
139 Fordham Dr Buffalo, NY	3.0	1.0	1453	$1,700	$1.17	23d	1	1.24mi
7 Berkley Pl Buffalo, NY	3.0	1.0	2879	$1,250	$0.43	3d	1	1.38mi
161 16th St Buffalo, NY	3.0	1.5	1500	$2,000	$1.33	23d	1	1.39mi

Listing history 28 events

1. 2026-06-18
   days on market $199,900 Active 78 DOM
2. 2026-06-17
   days on market $199,900 Active 77 DOM
3. 2026-06-16
   days on market $199,900 Active 76 DOM
4. 2026-06-15
   days on market $199,900 Active 75 DOM
5. 2026-06-13
   days on market $199,900 Active 73 DOM
6. 2026-06-13
   days on market $199,900 Active 72 DOM
7. 2026-06-10
   days on market $199,900 Active 70 DOM
8. 2026-06-09
   days on market $199,900 Active 69 DOM
9. 2026-06-08
   days on market $199,900 Active 68 DOM
10. 2026-06-07
    pricedays on market $199,900 Active 67 DOM
11. 2026-06-03
    days on market $210,000 Active 63 DOM
12. 2026-06-02
    days on market $210,000 Active 62 DOM
13. 2026-06-01
    days on market $210,000 Active 61 DOM
14. 2026-05-31
    days on market $210,000 Active 60 DOM
15. 2026-04-21
    price $215,000 904-char remark

    Show marketing remark (904 chars)

    Fully vacant 2/2 double in the heart of Buffalo’s West Side offering immediate income potential and flexibility for investors or owner-occupants. Each unit features 2 bedrooms with thoughtful updates throughout. The lower unit highlights a unique fireplace feature with brick detail in the primary bedroom, along with an updated bathroom and convenient in-unit laundry hookups. The upper unit includes updated flooring, cabinetry, and stainless steel appliances. Exterior improvements include maintenance-free vinyl siding and a newer roof, helping reduce major capital expenses. Ideal for house hacking live in one unit while renting the other or for investors looking to set market rents from day one with a fully vacant property. Located in a high-demand rental area close to local amenities, this property offers strong upside and long-term value. Don’t miss your opportunity on this one!

16. 2026-04-01
    listed $220,000 Active 904-char remark

    Show marketing remark (904 chars)

    Fully vacant 2/2 double in the heart of Buffalo’s West Side offering immediate income potential and flexibility for investors or owner-occupants. Each unit features 2 bedrooms with thoughtful updates throughout. The lower unit highlights a unique fireplace feature with brick detail in the primary bedroom, along with an updated bathroom and convenient in-unit laundry hookups. The upper unit includes updated flooring, cabinetry, and stainless steel appliances. Exterior improvements include maintenance-free vinyl siding and a newer roof, helping reduce major capital expenses. Ideal for house hacking live in one unit while renting the other or for investors looking to set market rents from day one with a fully vacant property. Located in a high-demand rental area close to local amenities, this property offers strong upside and long-term value. Don’t miss your opportunity on this one!

17. 2026-03-31
    historical
18. 2026-03-25
    price $220,000
19. 2026-03-11
    price $225,000
20. 2025-12-13
    listed $229,900 Active
21. 2025-12-12
    historical
22. 2025-10-28
    price $246,900
23. 2025-10-10
    listed $259,900 Active
24. 2021-03-05
    soldstatus $78,000 Closed Sale or Rented
25. 2021-01-05
    status Pending Sale
26. 2020-12-14
    listed $79,900 Active
27. 2005-10-18
    soldstatus $21,600
28. 2005-10-03
    soldstatus $19,000

ⓘ 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: $650 · $54/mo
• Projected year-2 tax: $2,014 · $168/mo
• Expected delta: +$1,364/yr (+$114/mo · 209.8%)

ⓘ 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 ≥92°F today · 14 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: $24,772
• − Mortgage interest: −$11,198
• − Property taxes: −$650
• − Insurance: −$1,000
• − Repairs & maintenance: −$1,982
• − Management: −$1,982
• − Depreciation: −$5,815
• Taxable income: $2,146
• Est. tax owed @ 24.0%: −$515
• After-tax cash flow: $4,826/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): 24,107
• Household income: $53,870
• Rent vs Own: 60.5% rent · 39.5% own
• Severe rent burden: 1501.0

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 0.70)
• Race & ethnicity: White 46% Hispanic / Latino 20% Black 18% Asian 12% Two or more races 10%
• Hispanic origin (detail): Mexican 1% Puerto Rican 16% Dominican 1%
• Common ancestry: Romanian 6% Slovak 3% Lithuanian 3%
• Foreign-born: 16% · Philippines, Canada, India
• Languages at home: 68% English-only · Spanish 12% Other Asian/Pacific 7% Arabic 3%

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: ▲ 7.51%
• Current HPI: 448.4879
• Rent YoY: ▼ -0.49%
• 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

+1031.6% since first listed

14 events — show timeline

• 2026-04-21 Price Changed $215,000 WNYREIS
• 2026-04-01 Listed $220,000 WNYREIS
• 2026-03-31 Listing Removed — WNYREIS
• 2026-03-25 Price Changed $220,000 WNYREIS
• 2026-03-11 Price Changed $225,000 WNYREIS
• 2025-12-13 Listed $229,900 WNYREIS
• 2025-12-12 Listing Removed — WNYREIS
• 2025-10-28 Price Changed $246,900 WNYREIS
• 2025-10-10 Listed $259,900 WNYREIS
• 2021-03-05 Sold (MLS) $78,000 WNYREIS
• 2021-01-05 Pending — WNYREIS
• 2020-12-14 Listed $79,900 WNYREIS
• 2005-10-18 Sold (Public Records) $21,600 Public Records
• 2005-10-03 Sold (Public Records) $19,000 Public Records

Property tax history

+18.2%/yr

Latest (2025): $650 · +0.0% YoY. Source: county tax records.