375 Glenwood Ave · Buffalo, NY 14208

$199,000

6 bd · 2.0 ba · 2,288 sqft · MultiFamily · 37 Days on market

Built 1899 Good condition 3,360 sqft lot Est $178k · 12% over

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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
• Condition / age +4.0/5.0
• Livability +3.9/5.0
• Schools +3.3/10.0
• Rent growth +2.5/5.0
• ARV discount +2.3/15.0
• 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 this beautifully updated multi-family home that perfectly blends modern updates, spacious living, and investment potential! Whether you’re looking for an owner-occupied opportunity or a strong income-producing property, this home offers exceptional versatility and comfort. Featuring two separate private entrances, each unit is thoughtfully designed with 3 generously sized bedrooms and 1 fully updated bathroom, offering plenty of space for comfortable everyday living. Step inside and immediately notice the bright and inviting atmosphere created by the abundance of natural light flowing through the home. Freshly painted interiors, updated finishes, and a warm, welcoming layou

Key facts

• Porch area
• Updated finishes
• Renovated bathrooms

Tags

• MULTI-FAMILY HOME
• PRIVATE ENTRANCES
• UPDATED FINISHES
• RENOVATED BATHROOMS
• PRIVATE BACKYARD
• PORCH AREA

Property features AI

Finance

• Other: Two total residential units; Two separate gas meters and two separate electric meters
• Financial info: Owner pays water; rent includes water; Operating expenses include water/sewer

Exterior

• Parking: No driveway
• Utilities: Public water connected; Sewer connected
• Home design: Two-story building; Existing/resale property
• Construction: Vinyl siding
• Exterior features: Near public transit; Rectangular residential lot; City street frontage; Lot dimensions approximately 30 x 112

Interior

• Kitchen: Gas water heater (appliance listed)
• Bedrooms: Two 3-bedroom units (each unit includes a formal dining room)
• Flooring: Hardwood; Vinyl; Varies
• Bathrooms: Each unit has 1 full bathroom (total 2 full bathrooms)
• Heating & cooling: Gas forced-air heating
• Interior features: Hardwood and vinyl flooring; some areas vary; Full basement
• Laundry & utility: Separate gas and electric meters for each unit

What this means for you Summary

Snapshot

• This is a 6-bed/2.0-bath multifamily listed at $199k. Condition is rated good.

Deal economics

• At list price, monthly cash flow is $2k ($19k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($4k rent vs $199k).
• Recommended offer: $193k (3.0% below list) — sets the bar for market timing.
• Cap rate 15.7% 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: 54 active listings in the ZIP; 2 comparable units currently listed for rent nearby; 1,244 units permitted in Erie County in 2024 (563 in 5+ unit buildings).
• At $3,713/mo this rent would consume 92% of the median local household income ($48k/yr) (locally 723% 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 $1k of loan paydown is wiped out by about $6k of value loss. Plan a longer hold.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $56k cash investment doubles in ~4 years — after that, you're playing with house money.

Negotiation context

• It's been on market 37 days — a 3% lower offer ($193k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: built in 1899 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $193,030 (3.0% below list)

Questions for the listing agent

1. It's been on market 37 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 1899 — 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: 1.87% ✓
• Cap rate: 15.69%
• Cash-on-cash: 33.55%
• DSCR: 2.49
• GRM: 4.5

CMA / ARV

• ARV (on-the-fly): $178,464
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
497-499 Riley St	0.27mi	6/2.0	2,380 (+4%)	2mo	$105,900	$44	79
502 Glenwood Ave	0.23mi	5/2.0 (-1)	2,294 (+0%)	7mo	$20,500	$9	78
622 Woodlawn Ave	0.50mi	6/2.0	2,288 (0%)	3mo	$177,500	$78	74
304 Northland Ave	0.52mi	6/2.0	2,288 (0%)	4mo	$121,000	$53	72
192 Goulding Ave	0.40mi	6/2.0	2,476 (+8%)	2mo	$220,000	$89	66
24 Winslow Ave	0.09mi	5/2.0 (-1)	2,024 (-12%)	7mo	$220,000	$109	65
159 Purdy St	0.32mi	6/2.0	2,080 (-9%)	6mo	$212,500	$102	65
26 Pleasant Pl	0.61mi	6/2.0	2,346 (+2%)	3mo	$162,000	$69	65
169 Florida St	0.55mi	6/2.0	2,138 (-7%)	3mo	$258,000	$121	61
211 Riley St	0.42mi	6/3.0	2,522 (+10%)	7mo	$210,000	$83	54
396 Guilford St	0.74mi	6/3.0	2,144 (-6%)	2mo	$135,000	$63	49
361 E North St Unit S	0.73mi	5/2.5 (-1)	2,544 (+11%)	3mo	$172,500	$68	38

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 · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 28.8%
• Equity multiple: 2.20×
• Total profit: $67,041
• Equity at exit: $29,672

10-year hold

• IRR: 36.2%
• Equity multiple: 4.34×
• Total profit: $186,382
• Equity at exit: $17,206

Cash invested: $55,720 (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 14208

• Home prices YoY: -3.4%
• Active inventory: 54
• Price-to-rent: 8.9×

Monthly cashflow live

• Estimated rent: $3,713 high
• Mortgage (P&I): −$1,044
• Tax est. 1.5%: −$249 /mo · $2,985/yr
• Insurance: −$83
• HOA: −$0
• Vacancy / Maint / Mgmt: −$780
• Net cashflow: $1,558

Break-even live

Break-even rent $1,741

Max offer price $199,000

Occupancy floor 53%

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

Units	Beds	Baths	Est. rent
▸ 2× units	3	1	$3,714
Total (2 units)			$3,713

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: $49,750
• Closing costs: $5,970
• Reserves months: —
• Total cash needed: —

Rent comps 2 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
15 Hughes Ave Buffalo, NY	7.0	2.0	1650	$3,000	$1.82	44d	1	0.86mi
518 Wilson St Buffalo, NY	5.0	1.5	1848	$1,500	$0.81	23d	1	1.03mi

Listing history 15 events

1. 2026-06-18
   days on market $199,000 Active 37 DOM
2. 2026-06-17
   days on market $199,000 Active 36 DOM
3. 2026-06-16
   days on market $199,000 Active 35 DOM
4. 2026-06-15
   days on market $199,000 Active 34 DOM
5. 2026-06-13
   days on market $199,000 Active 32 DOM
6. 2026-06-13
   days on market $199,000 Active 31 DOM
7. 2026-06-10
   days on market $199,000 Active 29 DOM
8. 2026-06-09
   days on market $199,000 Active 28 DOM
9. 2026-06-08
   days on market $199,000 Active 27 DOM
10. 2026-06-07
    days on market $199,000 Active 26 DOM
11. 2026-06-03
    days on market $199,000 Active 22 DOM
12. 2026-06-02
    days on market $199,000 Active 21 DOM
13. 2026-06-01
    days on market $199,000 Active 20 DOM
14. 2026-05-31
    days on market $199,000 Active 19 DOM
15. 2026-05-12
    listed $199,000 Active

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

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 ≥91°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: $44,556
• − Mortgage interest: −$11,147
• − Property taxes: −$2,985
• − Insurance: −$995
• − Repairs & maintenance: −$3,564
• − Management: −$3,564
• − Depreciation: −$5,789
• Taxable income: $16,511
• Est. tax owed @ 24.0%: −$3,963
• After-tax cash flow: $14,734/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.

Condition & rehab AI · 30 photos

Good 80/100 Cosmetic rehab

This beautifully updated multi-family home offers a good condition with fresh paint, updated kitchens and bathrooms, and a well-maintained exterior. It's ready for immediate move-in and can be further enhanced with minor cosmetic upgrades.

Value-add opportunities

• Both Painting exterior and interior — Enhances curb appeal and interior aesthetics
• Both Reorganizing and decluttering interior spaces — Maximizes living space and improves flow
• Both Upgrading lighting fixtures — Improves ambiance and energy efficiency

Renovation cost estimate screening

Value-add ROI direction

• Both Painting exterior and interior — Enhances curb appeal and interior aesthetics ↑
• Both Reorganizing and decluttering interior spaces — Maximizes living space and improves flow ↑
• Both Upgrading lighting fixtures — Improves ambiance and energy efficiency ↑

ⓘ Cost ranges are severity-bucket heuristics (US national rule-of-thumb). Get contractor quotes + a written scope before underwriting a rehab budget.

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): 12,572
• Household income: $48,476
• Rent vs Own: 46.2% rent · 53.8% own
• Severe rent burden: 723.0

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 (72%)
• Race & ethnicity: Black 72% White 15% Asian 6% Two or more races 4% Hispanic / Latino 3%
• Common ancestry: Romanian 2% Italian 1% Hispanic 0%
• Foreign-born: 7% · Canada, South Korea, Philippines
• Languages at home: 89% English-only · Other Indo-European 3% Spanish 2% French/Haitian/Cajun 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: ▼ -16.37%
• Current HPI: 459.2084
• Rent YoY: —
• 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

1 event — show timeline

• 2026-05-12 Listed $199,000 WNYREIS