107 Jones St · Buffalo, NY 14206

$139,900

5 bd · 2.0 ba · 2,142 sqft · MultiFamily public records · 69 Days on market

Built 1900 3,180 sqft lot $65/sqft · 24% below area Est $185k · 24% under

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Why this score? — see what drove the A 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
• Appreciation +9.0/10.0
• Livability +3.9/5.0
• Schools +3.3/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0

Multi-family units

County records classify this as Multi-Family (2-4 Unit). Listing-text estimate: 2 units. confirmed

Listing remarks MLS

Excellent owner-occupied or investment opportunity at 107 Jones Street! This versatile 2-unit property offers immediate income potential with both units currently occupied, while one tenant’s month-to-month status provides flexibility for future owner-occupants or investors looking to adjust rents or occupancy plans. The property features several valuable updates, including foundation improvements, updated electric, newer windows throughout, and separate utilities — making management easier and more cost-effective. The lower unit also includes a new hot water tank. The upper unit features newer flooring throughout, a brand-new forced air furnace, and a bonus room perfect for a potential 3rd bedroom, office, or study space. Outside, you'll find ample off-street parking, a fully fenced yard, and a garage offering additional storage, workshop potential, or extra utility space — rare features that add value for both tenants and owner-occupants alike. Conveniently located near shopping, dining, and major routes, this property offers strong potential whether you're looking to offset your mortgage with rental income or expand your investment portfolio with a cash-flowing property from day one. Don’t miss your chance to tour this flexible income-producing opportunity! Offers being reviewed as they are received.

Key facts

• Recent upgrades
• Off-street parking
• Built-in income

Tags

• BUILT-IN INCOME
• RECENT UPGRADES
• OFF-STREET PARKING
• GARAGE WITH BONUS SPACE
• CONVENIENTLY LOCATED

🏷️ Possibly a rental listed for sale. The $139,900 price doesn't fit this home's estimated sale value (~$184,634) and the remarks read like a rental — treat the cards below with caution.

What this means for you Summary

Snapshot

• This is a 2 × 2-bed/1.0-bath units multifamily listed at $140k.

Deal economics

• At list price, monthly cash flow is $1k ($15k/yr) — positive. Per door: $642/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $140k).
• Recommended offer: $132k (6.0% below list) — sets the bar for market timing.
• Cap rate 17.3% 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: 169 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 $2,850/mo this rent would consume 68% of the median local household income ($50k/yr) (locally 841% 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 $12k of equity ($967 loan paydown + $11k appreciation (8.1% local appreciation)).
• At projected returns (8.1% appreciation + 3.0% rent growth), your $39k cash investment doubles in ~2 years — after that, you're playing with house money.
• By year 3, paydown + projected appreciation supports a ~$31k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 69 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.

Risks & watch-outs

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

Recommended offer $131,506 (6.0% below list)

Questions for the listing agent

1. It's been on market 69 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
2. Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
3. What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
4. Built in 1900 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
5. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
6. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
7. 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?
8. 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.
9. 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.
10. 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: 2.04% ✓
• Cap rate: 17.31%
• Cash-on-cash: 39.36%
• DSCR: 2.75
• GRM: 4.1

CMA / ARV

• ARV (median comp): $184,634
• List price: $139,900
• Delta: -24.23%
• 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
107 Jones St	0.00mi	4/1.0 (-1)	2,142 (0%)	11mo	$95,000	$44	82
1038 Clinton St	0.20mi	6/2.0 (+1)	2,156 (+1%)	18mo	$148,530	$69	70
202 Metcalfe St	0.21mi	5/2.0	1,960 (-8%)	10mo	$215,000	$110	68
475 Babcock St	0.36mi	5/2.0	2,288 (+7%)	12mo	$235,000	$103	62
910 Clinton St	0.36mi	6/2.0 (+1)	2,208 (+3%)	14mo	$70,000	$32	62
109 Baitz Ave	0.58mi	6/2.0 (+1)	2,268 (+6%)	11mo	$75,000	$33	49
368 Bristol St	0.46mi	4/2.0 (-1)	1,919 (-10%)	9mo	$125,000	$65	49
12 Hobart St	0.71mi	4/2.0 (-1)	2,012 (-6%)	8mo	$175,000	$87	46
31 Lord St	0.65mi	6/2.0 (+1)	2,282 (+6%)	10mo	$172,500	$76	45
878 Clinton St	0.42mi	6/2.0 (+1)	2,400 (+12%)	14mo	$130,000	$54	44
555 Fillmore Ave	0.59mi	6/2.0 (+1)	2,376 (+11%)	16mo	$225,000	$95	36
11 Newton St	0.70mi	4/3.0 (-1)	2,328 (+9%)	13mo	$85,000	$37	34

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

Projected returns pro-forma

8.06% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 52.0%
• Equity multiple: 4.57×
• Total profit: $140,019
• Equity at exit: $106,842

10-year hold

• IRR: 47.2%
• Equity multiple: 9.82×
• Total profit: $345,565
• Equity at exit: $212,612

Cash invested: $39,172 (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 14206

• Home prices YoY: 1.8%
• Active inventory: 169
• Price-to-rent: 8.2×

Monthly cashflow live

• Estimated rent: $2,850 high
• Mortgage (P&I): −$734
• Tax est. 1.5%: −$175 /mo · $2,098/yr
• Insurance: −$58
• HOA: −$0
• Vacancy / Maint / Mgmt: −$598
• Net cashflow: $1,285

Break-even live

Break-even rent $1,224

Max offer price $139,900

Occupancy floor 50%

Sensitivity live

Price	-10% $1,381	-5% $1,333	+0% $1,285	+5% $1,236	+10% $1,188
Rent	-10% $1,060	-5% $1,172	+0% $1,285	+5% $1,397	+10% $1,510
Rate	-1.0pp $1,355	-0.5pp $1,320	base $1,285	+0.5pp $1,248	+1.0pp $1,212

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

Units	Beds	Baths	Est. rent
▸ 2× units	2	1	$2,850
Total (2 units)			$2,850

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: $34,975
• Closing costs: $4,197
• Reserves months: —
• Total cash needed: —

Rent comps 2 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
901 S Park Ave Unit Lower Buffalo, NY	4.0	1.0	1729	$1,600	$0.93	24d	1	1.25mi
518 Wilson St Buffalo, NY	5.0	1.5	1848	$1,500	$0.81	24d	1	1.30mi

Listing history 30 events

1. 2026-06-17
   status $139,900 Pending 69 DOM
2. 2026-06-17
   days on market $139,900 Active 69 DOM
3. 2026-06-16
   days on market $139,900 Active 68 DOM
4. 2026-06-15
   days on market $139,900 Active 67 DOM
5. 2026-06-13
   days on market $139,900 Active 65 DOM
6. 2026-06-13
   days on market $139,900 Active 64 DOM
7. 2026-06-10
   remarks 699-char remark
8. 2026-06-10
   days on market $139,900 Active 62 DOM
9. 2026-06-09
   days on market $139,900 Active 61 DOM
10. 2026-06-08
    days on market $139,900 Active 60 DOM
11. 2026-06-07
    days on market $139,900 Active 59 DOM
12. 2026-06-03
    days on market $139,900 Active 55 DOM
13. 2026-06-02
    days on market $139,900 Active 54 DOM
14. 2026-06-01
    days on market $139,900 Active 53 DOM
15. 2026-05-31
    days on market $139,900 Active 52 DOM
16. 2026-04-08
    listed $139,900 Active 1348-char remark

    Show marketing remark (1348 chars)

    Excellent owner-occupied or investment opportunity at 107 Jones Street! This versatile 2-unit property offers immediate income potential with both units currently occupied, while one tenant’s month-to-month status provides flexibility for future owner-occupants or investors looking to adjust rents or occupancy plans. The property features several valuable updates, including foundation improvements, updated electric, newer windows throughout, and separate utilities — making management easier and more cost-effective. The lower unit also includes a new hot water tank. The upper unit features newer flooring throughout, a brand-new forced air furnace, and a bonus room perfect for a potential 3rd bedroom, office, or study space. Outside, you'll find ample off-street parking, a fully fenced yard, and a garage offering additional storage, workshop potential, or extra utility space — rare features that add value for both tenants and owner-occupants alike. Conveniently located near shopping, dining, and major routes, this property offers strong potential whether you're looking to offset your mortgage with rental income or expand your investment portfolio with a cash-flowing property from day one. Don’t miss your chance to tour this flexible income-producing opportunity! Offers being reviewed as they are received.

17. 2025-08-27
    soldstatus $320,000
18. 2025-07-13
    soldstatus $95,000 Closed 118-char remark

    Show marketing remark (118 chars)

    2 bedroom upper and lower. Upper kitchen has been remodeled, new floors, etc. Great rents for an investor! A MUST SEE

19. 2025-06-27
    status Pending 118-char remark

    Show marketing remark (118 chars)

    2 bedroom upper and lower. Upper kitchen has been remodeled, new floors, etc. Great rents for an investor! A MUST SEE

20. 2024-08-05
    price $104,000 118-char remark

    Show marketing remark (118 chars)

    2 bedroom upper and lower. Upper kitchen has been remodeled, new floors, etc. Great rents for an investor! A MUST SEE

21. 2024-05-02
    price $106,000 118-char remark

    Show marketing remark (118 chars)

    2 bedroom upper and lower. Upper kitchen has been remodeled, new floors, etc. Great rents for an investor! A MUST SEE

22. 2024-02-05
    listed $107,000 Active 118-char remark

    Show marketing remark (118 chars)

    2 bedroom upper and lower. Upper kitchen has been remodeled, new floors, etc. Great rents for an investor! A MUST SEE

23. 2019-08-19
    soldstatus $52,000
24. 2018-12-14
    soldstatus $90,000
25. 2017-12-31
    historical
26. 2017-11-03
    price $47,500
27. 2017-10-15
    price $49,900
28. 2017-09-08
    price $54,900
29. 2017-07-18
    listed $59,900 Active
30. 2016-08-09
    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 ≥92°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: $34,200
• − Mortgage interest: −$7,837
• − Property taxes: −$2,098
• − Insurance: −$700
• − Repairs & maintenance: −$2,736
• − Management: −$2,736
• − Depreciation: −$4,070
• Taxable income: $14,024
• Est. tax owed @ 24.0%: −$3,366
• After-tax cash flow: $12,051/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): 21,631
• Household income: $50,450
• Rent vs Own: 39.3% rent · 60.7% own
• Severe rent burden: 841.0

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: Majority White (65%)
• Race & ethnicity: White 65% Hispanic / Latino 13% Black 12% Two or more races 8% Asian 4%
• Hispanic origin (detail): Mexican 2% Puerto Rican 10%
• Common ancestry: Romanian 25% Lithuanian 1% Italian 1%
• Foreign-born: 6% · Canada, China
• Languages at home: 88% English-only · Spanish 5% Other Indo-European 3% Arabic 2%

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: ▲ 8.06%
• Current HPI: 457.3935
• 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

+599.5% since first listed

15 events — show timeline

• 2026-04-08 Listed $139,900 WNYREIS
• 2025-08-27 Sold (Public Records) $320,000 Public Records
• 2025-07-13 Sold (MLS) $95,000 WNYREIS
• 2025-06-27 Pending — WNYREIS
• 2024-08-05 Price Changed $104,000 WNYREIS
• 2024-05-02 Price Changed $106,000 WNYREIS
• 2024-02-05 Listed $107,000 WNYREIS
• 2019-08-19 Sold (Public Records) $52,000 Public Records
• 2018-12-14 Sold (Public Records) $90,000 Public Records
• 2017-12-31 Listing Removed — WNYREIS
• 2017-11-03 Price Changed $47,500 WNYREIS
• 2017-10-15 Price Changed $49,900 WNYREIS
• 2017-09-08 Price Changed $54,900 WNYREIS
• 2017-07-18 Listed $59,900 WNYREIS
• 2016-08-09 Sold (Public Records) $20,000 Public Records

Property tax history

+3.2%/yr

Latest (2025): $207 · +0.0% YoY. Source: county tax records.