129 Roma Ave · Buffalo, NY 14215

$140,000

3 bd · 2.0 ba · 1,085 sqft · MultiFamily public records · 90 Days on market

Built 1900 3,720 sqft lot $129/sqft · 44% below area Est $248k · 44% 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
• Schools +3.3/10.0
• Rent growth +2.7/5.0
• 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 MLS

Check out this well-maintained multi-family property — a perfect addition to your investment portfolio. Featuring a classic upper-lower layout, this home offers a total of 3 bedrooms and 2 bathrooms. Both units are currently tenant-occupied, providing immediate rental income for a seamless transition to the next owner. Located in a convenient Buffalo neighborhood, this property is close to local amenities, schools, and public transportation, making it desirable for long-term tenants. Showings can be made with 24 hours advance notice on Monday, Wednesday, Friday and Saturday from 12-6pm. Offers will be reviewed as they are received. This property could be sold in conjunction with 121 Hagen Street (B1668047), 315 Cornwall Avenue (B1668090), and 210 Timon Street (B1668109).

Key facts

• Close to schools
• Upper-lower layout
• 3,720 sq ft lot

Tags

• MULTI-FAMILY PROPERTY
• UPPER-LOWER LAYOUT
• IMMEDIATE RENTAL INCOME
• CLOSE TO LOCAL AMENITIES
• CLOSE TO SCHOOLS
• CLOSE TO PUBLIC TRANSPORTATION

🏷️ Possibly a rental listed for sale. The $140,000 price doesn't fit this home's estimated sale value (~$247,793) and the remarks read like a rental — treat the cards below with caution.

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath multifamily listed at $140k.

Deal economics

• At list price, monthly cash flow is $879 ($11k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $140k).
• Recommended offer: $132k (6.0% below list) — sets the bar for market timing.
• Cap rate 13.8% 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 flat; 237 active listings in the ZIP; 24 comparable units currently listed for rent nearby; rentals lingering (median 45d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 50% of comp listings sitting > 30 days — soft ceiling on asking rent; lower-income renter base — watch delinquency; 1,244 units permitted in Erie County in 2024 (563 in 5+ unit buildings).
• At $2,337/mo this rent would consume 62% of the median local household income ($45k/yr) (locally 2873% 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 $968 of loan paydown is wiped out by about $4k of value loss. Plan a longer hold.
• At projected returns (-3.0% appreciation + 0.7% rent growth), your $39k cash investment doubles in ~5 years — after that, you're playing with house money.

Negotiation context

• It's been on market 90 days — a 6% lower offer ($132k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 9y 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 $51k; list at $140k implies a 175% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1900 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $131,600 (6.0% below list)

Questions for the listing agent

1. It's been on market 90 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 1900 — 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 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: 1.67% ✓
• Cap rate: 13.82%
• Cash-on-cash: 26.90%
• DSCR: 2.20
• GRM: 5.0

CMA / ARV

• ARV (median comp): $247,793
• List price: $140,000
• Delta: -43.50%
• Verdict: UNDERPRICED
• Comps: 11 within 1.0 mi

Show comp detail 1 sale within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
89 Fisher St	0.43mi	4/2.0 (+1)	1,197 (+10%)	21mo	$155,000	$129	40

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 · 0.67% rent growth · sell at horizon

5-year hold

• IRR: 18.2%
• Equity multiple: 1.71×
• Total profit: $27,961
• Equity at exit: $20,874

10-year hold

• IRR: 24.9%
• Equity multiple: 2.93×
• Total profit: $75,588
• Equity at exit: $12,105

Cash invested: $39,200 (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 14215

• Home prices YoY: -30.0%
• Rents YoY: 0.7%
• Active inventory: 237
• Price-to-rent: 10.0×

Monthly cashflow live

• Estimated rent: $2,337 medium
• Mortgage (P&I): −$734
• Tax est. 1.5%: −$175 /mo · $2,100/yr
• Insurance: −$58
• HOA: −$0
• Vacancy / Maint / Mgmt: −$491
• Net cashflow: $879

Break-even live

Break-even rent $1,225

Max offer price $140,000

Occupancy floor 57%

Sensitivity live

Price	-10% $975	-5% $927	+0% $879	+5% $830	+10% $782
Rent	-10% $694	-5% $786	+0% $879	+5% $971	+10% $1,063
Rate	-1.0pp $949	-0.5pp $914	base $879	+0.5pp $842	+1.0pp $806

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

Units	Beds	Baths	Est. rent
▸ 2× units	2	1	$2,336
Total (2 units)			$2,337

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: $35,000
• Closing costs: $4,200
• Reserves months: —
• Total cash needed: —

Rent comps 24 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
103 Preston Rd Unit Lower Cheektowaga, NY	2.0	1.0	882	$1,300	$1.47	4d	1	0.28mi
160 Courtland Ave Buffalo, NY	2.0	1.0	810	$1,025	$1.27	15d	1	0.32mi
61 Courtland Ave Unit Lower Buffalo, NY	2.0	1.0	1000	$1,300	$1.30	44d	1	0.43mi
249 Newburgh Ave Unit 2 Buffalo, NY	2.0	1.0	930	$1,300	$1.40	44d	1	0.49mi
17 Proctor Ave Unit 1 Buffalo, NY	2.0	1.0	900	$1,100	$1.22	44d	1	0.61mi
50 Pine Ridge Ter Unit 3 Cheektowaga, NY	2.0	1.0	900	$1,400	$1.56	18d	1	0.63mi
74 Dorris Ave Buffalo, NY	3.0	1.0	1200	$1,450	$1.21	44d	1	0.74mi
56 Hagen St #2 Buffalo, NY	2.0	1.0	850	$950	$1.12	44d	1	0.74mi
85 Blake St Unit 1 Buffalo, NY	4.0	2.0	1022	$1,000	$0.98	44d	1	0.84mi
11 Kaufman Dr Buffalo, NY	2.0	1.0	900	$1,500	$1.67	44d	1	0.86mi
97 Davidson Ave Buffalo, NY	3.0	1.0	925	$1,495	$1.62	2d	1	0.89mi
189 Westminster Ave Buffalo, NY	4.0	1.5	1065	$1,595	$1.50	11d	1	1.10mi
143 Reo Ave Buffalo, NY	3.0	2.0	1143	$1,600	$1.40	12d	1	1.20mi
67 Moeller St Unit LOWER Buffalo, NY	3.0	1.0	960	$1,200	$1.25	24d	1	1.20mi
67 Moeller St Unit UPPER Buffalo, NY	3.0	1.0	960	$1,000	$1.04	4d	1	1.20mi
90 Sussex St Unit 2 Buffalo, NY	2.0	1.0	1000	$1,000	$1.00	44d	1	1.26mi
24 Euclid Ave Buffalo, NY	3.0	2.0	1150	$1,700	$1.48	44d	1	1.26mi
2935 Genesee St Unit Up Buffalo, NY	2.0	1.0	1400	$1,400	$1.00	11d	1	1.26mi
1202 Walden Ave Unit 3 Buffalo, NY	3.0	1.0	1500	$1,400	$0.93	18d	1	1.37mi
1202 Walden Ave Unit 2 Buffalo, NY	3.0	1.0	800	$1,350	$1.69	44d	1	1.37mi
140 Parkridge Ave Buffalo, NY	3.0	1.0	990	$1,500	$1.52	44d	1	1.37mi
44 Aurora Dr Buffalo, NY	3.0	1.0	1272	$3,300	$2.59	2d	1	1.43mi
220 Dartmouth Ave Buffalo, NY	2.0	1.0	1000	$1,100	$1.10	24d	1	1.44mi
507 Lisbon Ave Unit 2 Buffalo, NY	2.0	1.0	850	$1,050	$1.24	44d	1	1.48mi

Listing history 22 events

1. 2026-06-18
   days on market $140,000 Active 90 DOM
2. 2026-06-17
   days on market $140,000 Active 89 DOM
3. 2026-06-16
   days on market $140,000 Active 88 DOM
4. 2026-06-15
   days on market $140,000 Active 87 DOM
5. 2026-06-13
   days on market $140,000 Active 85 DOM
6. 2026-06-13
   days on market $140,000 Active 84 DOM
7. 2026-06-10
   days on market $140,000 Active 82 DOM
8. 2026-06-09
   days on market $140,000 Active 81 DOM
9. 2026-06-08
   days on market $140,000 Active 80 DOM
10. 2026-06-07
    days on market $140,000 Active 79 DOM
11. 2026-06-03
    days on market $140,000 Active 75 DOM
12. 2026-06-02
    days on market $140,000 Active 74 DOM
13. 2026-06-01
    days on market $140,000 Active 73 DOM
14. 2026-05-31
    days on market $140,000 Active 72 DOM
15. 2026-03-20
    listed $140,000 Active 787-char remark

    Show marketing remark (787 chars)

    Check out this well-maintained multi-family property — a perfect addition to your investment portfolio. Featuring a classic upper-lower layout, this home offers a total of 3 bedrooms and 2 bathrooms. Both units are currently tenant-occupied, providing immediate rental income for a seamless transition to the next owner. Located in a convenient Buffalo neighborhood, this property is close to local amenities, schools, and public transportation, making it desirable for long-term tenants. Showings can be made with 24 hours advance notice on Monday, Wednesday, Friday and Saturday from 12-6pm. Offers will be reviewed as they are received. This property could be sold in conjunction with 121 Hagen Street (B1668047), 315 Cornwall Avenue (B1668090), and 210 Timon Street (B1668109).

16. 2026-03-20
    historical

    Show marketing remark (787 chars)

    Check out this well-maintained multi-family property — a perfect addition to your investment portfolio. Featuring a classic upper-lower layout, this home offers a total of 3 bedrooms and 2 bathrooms. Both units are currently tenant-occupied, providing immediate rental income for a seamless transition to the next owner. Located in a convenient Buffalo neighborhood, this property is close to local amenities, schools, and public transportation, making it desirable for long-term tenants. Showings can be made with 24 hours advance notice on Monday, Wednesday, Friday and Saturday from 12-6pm. Offers will be reviewed as they are received. This property could be sold in conjunction with 121 Hagen Street (B1668047), 315 Cornwall Avenue (B1668090), and 210 Timon Street (B1668109).

17. 2025-09-17
    listed $144,900 Active
18. 2017-07-19
    soldstatus $51,000
19. 2017-07-14
    soldstatus $51,000 Closed Sale or Rented
20. 2017-06-06
    historical Under Contract- Do Not Show
21. 2017-05-19
    listed $53,129 Active
22. 1996-07-16
    soldstatus $20,000

ⓘ 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 ≥93°F today · 15 d/yr by 30 yrs out
• 💨 Wind 1/10 Low
• 🫁 Air quality 3/10 Moderate 2 unhealthy d/yr today · 3 by 30 yrs out

Taxation est. · year 1

• Rental income: $28,044
• − Mortgage interest: −$7,842
• − Property taxes: −$2,100
• − Insurance: −$700
• − Repairs & maintenance: −$2,244
• − Management: −$2,244
• − Depreciation: −$4,073
• Taxable income: $8,842
• Est. tax owed @ 24.0%: −$2,122
• After-tax cash flow: $8,423/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): 42,524
• Household income: $44,955
• Rent vs Own: 50.0% rent · 50.0% own
• Severe rent burden: 2873.0

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 (67%)
• Race & ethnicity: Black 67% White 15% Asian 7% Hispanic / Latino 6% Two or more races 6%
• Hispanic origin (detail): Puerto Rican 4%
• Common ancestry: Romanian 4% Lithuanian 1% Italian 1%
• Foreign-born: 9% · Canada, China
• Languages at home: 88% English-only · Other Indo-European 4% Spanish 4% Chinese 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: ▼ -126.29%
• Current HPI: 295.2966
• Rent YoY: ▲ 0.67%
• 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

+600.0% since first listed

8 events — show timeline

• 2026-03-20 Listing Removed — WNYREIS
• 2026-03-20 Listed $140,000 WNYREIS
• 2025-09-17 Listed $144,900 WNYREIS
• 2017-07-19 Sold (Public Records) $51,000 Public Records
• 2017-07-14 Sold (MLS) $51,000 WNYREIS
• 2017-06-06 Contingent — WNYREIS
• 2017-05-19 Listed $53,129 WNYREIS
• 1996-07-16 Sold (Public Records) $20,000 Public Records

Property tax history

+7.2%/yr

Latest (2025): $269 · +0.0% YoY. Source: county tax records.