496 E Amherst St Unit N · Buffalo, NY 14215

$165,000

3 bd · 1.0 ba · 1,868 sqft · SingleFamily public records · 90 Days on market

Built 1925 3,570 sqft lot $88/sqft · 10% below area Est $184k · 10% under

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Why this score? — see what drove the C+ 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 +23.5/30.0
• ARV discount +12.1/15.0
• DSCR +7.6/10.0
• 1% rule +4.7/10.0
• 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

Listing remarks MLS

Welcome to this beautifully maintained 2-story home nestled in a quiet, sought-after Neighborhood. This Beautifully designed 4 bedrooms and 1 full bathrooms -residence offers an ideal blend of elegance, comfort and modern. Its Ready for you to move right in. Inside you're greeted by an impressive and generous open floor plan providing great space for relaxing and entertainment. This home boasts vinyl flooring throughout. Freshly painted interiors give it a bright and modern feel. Thoughtfully designed for comfort and convenience, On the second floor, you'll find 4 additional generously sized bedrooms . Enjoy quality family time in the formal living room -perfect for your relaxing afternoons. Large kitchen with ample cabinet, with eat in kitchen. This home has been extensively updated. A full basement provides extra storage , and laundry . and a backyard perfect for gardening or outdoor enjoyment. Perfectly situated Just steps away from a local playground and conveniently close to public transportation makes it convenient for families and commuters. With all major updates complete and classic Buffalo charm throughout, this home is ready for you to move-in. Don't miss your chance - this house is waiting for the next owner to make it their own.

Key facts

• Open floor plan
• Vinyl flooring
• Large kitchen

Tags

• OPEN FLOOR PLAN
• VINYL FLOORING
• FRESHLY PAINTED INTERIORS
• FORMAL LIVING ROOM
• LARGE KITCHEN
• FULL BASEMENT

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $165k.

Deal economics

• At list price, monthly cash flow is $308 ($4k/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 $161k (2.6% below list).
• Recommended offer: $155k (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.
• 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 flat; 239 active listings in the ZIP; 16 comparable units currently listed for rent nearby; rentals at typical pace (median 25d 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 ($45k/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 $5k of value loss. Plan a longer hold.

Negotiation context

• It's been on market 90 days — a 6% lower offer ($155k) is reasonable based on typical stale-listing flexibility.
• Current owner paid $80k; list at $165k implies a 106% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1925 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $155,100 (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 1925 — 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: 0.97% ✗
• Cap rate: 8.53%
• Cash-on-cash: 7.99%
• DSCR: 1.36
• GRM: 8.6

CMA / ARV

• ARV (median comp): $183,653
• List price: $165,000
• Delta: -10.16%
• 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
145 Shirley Ave	0.28mi	3/2.0	1,729 (-7%)	6mo	$135,000	$78	65
96 Highgate Ave	0.65mi	3/1.5	1,859 (-0%)	6mo	$315,000	$169	62
243 Berkshire Ave	0.13mi	4/2.0 (+1)	1,617 (-13%)	1mo	$220,000	$136	61
307 Berkshire Ave	0.25mi	4/1.0 (+1)	1,623 (-13%)	4mo	$182,000	$112	58
618 Lasalle Ave	0.61mi	4/2.0 (+1)	1,844 (-1%)	5mo	$155,000	$84	56
145 Highgate Ave	0.58mi	4/2.0 (+1)	1,771 (-5%)	0mo	$218,000	$123	55
34 Copsewood Ave	0.34mi	4/2.0 (+1)	1,602 (-14%)	6mo	$170,000	$106	47
216 Lasalle Ave	0.42mi	4/2.0 (+1)	1,638 (-12%)	6mo	$140,000	$85	46
176 Lasalle Ave	0.46mi	4/2.0 (+1)	1,601 (-14%)	2mo	$270,000	$169	44
353 Warwick Ave	0.71mi	3/1.0	1,611 (-14%)	1mo	$161,800	$100	43
159 Highgate Ave	0.56mi	4/2.0 (+1)	2,114 (+13%)	8mo	$222,620	$105	36
141 Millicent Ave	0.67mi	4/2.0 (+1)	1,620 (-13%)	2mo	$142,000	$88	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 · 0.67% rent growth · sell at horizon

5-year hold

• IRR: -6.5%
• Equity multiple: 0.76×
• Total profit: $-10,915
• Equity at exit: $24,602

10-year hold

• IRR: 0.3%
• Equity multiple: 1.02×
• Total profit: $956
• Equity at exit: $14,266

Cash invested: $46,200 (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: 239
• Price-to-rent: 8.6×

Monthly cashflow live

• Estimated rent: $1,606 high
• Mortgage (P&I): −$865
• Tax from tax record: −$28 /mo · $331/yr
• Insurance: −$69
• HOA: −$0
• Vacancy / Maint / Mgmt: −$337
• Net cashflow: $308

Break-even live

Break-even rent $1,217

Max offer price $165,000

Occupancy floor 76%

Sensitivity live

Price	-10% $401	-5% $354	+0% $308	+5% $72	+10% $15
Rent	-10% $181	-5% $244	+0% $308	+5% $371	+10% $434
Rate	-1.0pp $391	-0.5pp $350	base $308	+0.5pp $265	+1.0pp $221

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: $41,250
• Closing costs: $4,950
• Reserves months: —
• Total cash needed: —

Rent comps 16 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
25 Parkridge Ave Buffalo, NY	3.0	1.0	1914	$1,350	$0.71	16d	1	0.33mi
263 Minnesota Ave Unit Upper Buffalo, NY	3.0	1.0	1242	$1,500	$1.21	16d	1	0.43mi
222 Lisbon Ave Unit Upper Buffalo, NY	3.0	1.0	1400	$1,400	$1.00	45d	1	0.54mi
222 Lisbon Ave Buffalo, NY	4.0	1.0	1300	$1,400	$1.08	25d	1	0.54mi
89 Lasalle Ave Buffalo, NY	1.0–4.0	1.0–4.0	1024	$2,291	$2.24	3d	10	0.59mi
59 Lisbon Ave Buffalo, NY	3.0	1.0	2521	$1,250	$0.50	25d	1	0.67mi
60 Englewood Ave Buffalo, NY	4.0	1.0	1400	$1,650	$1.18	3d	1	1.02mi
102 Englewood Ave Buffalo, NY	4.0	1.0	2426	$2,750	$1.13	3d	1	1.08mi
91 Englewood Ave Buffalo, NY	4.0	1.0	2500	$2,000	$0.80	3d	1	1.08mi
71 Gerald Ave Buffalo, NY	2.0	1.0	1773	$1,100	$0.62	45d	1	1.12mi
110 Gerald Ave Buffalo, NY	2.0	1.0	2098	$1,100	$0.52	25d	1	1.12mi
63 Montrose Ave Buffalo, NY	4.0	1.0	2240	$2,000	$0.89	3d	1	1.17mi
163 Carmel Rd Buffalo, NY	3.0	1.0	1400	$1,800	$1.29	4d	1	1.26mi
216 Newburgh Ave Buffalo, NY	2.0	1.0	1690	$1,150	$0.68	25d	1	1.43mi
202 Summit Ave Unit 1 Buffalo, NY	3.0	1.0	2000	$2,400	$1.20	25d	1	1.46mi
91 Springville Ave Buffalo, NY	4.0	2.0	1660	$2,350	$1.42	25d	1	1.48mi

Listing history 10 events

1. 2026-06-07
   days on market $165,000 Active 90 DOM
2. 2026-06-03
   days on market $165,000 Active 86 DOM
3. 2026-06-02
   days on market $165,000 Active 85 DOM
4. 2026-06-01
   days on market $165,000 Active 84 DOM
5. 2026-05-31
   days on market $165,000 Active 83 DOM
6. 2026-04-27
   price $165,000 1262-char remark

   Show marketing remark (1262 chars)

   Welcome to this beautifully maintained 2-story home nestled in a quiet, sought-after Neighborhood. This Beautifully designed 4 bedrooms and 1 full bathrooms -residence offers an ideal blend of elegance, comfort and modern. Its Ready for you to move right in. Inside you're greeted by an impressive and generous open floor plan providing great space for relaxing and entertainment. This home boasts vinyl flooring throughout. Freshly painted interiors give it a bright and modern feel. Thoughtfully designed for comfort and convenience, On the second floor, you'll find 4 additional generously sized bedrooms . Enjoy quality family time in the formal living room -perfect for your relaxing afternoons. Large kitchen with ample cabinet, with eat in kitchen. This home has been extensively updated. A full basement provides extra storage , and laundry . and a backyard perfect for gardening or outdoor enjoyment. Perfectly situated Just steps away from a local playground and conveniently close to public transportation makes it convenient for families and commuters. With all major updates complete and classic Buffalo charm throughout, this home is ready for you to move-in. Don't miss your chance - this house is waiting for the next owner to make it their own.

7. 2026-03-09
   listed $169,900 Active 1262-char remark

   Show marketing remark (1262 chars)

   Welcome to this beautifully maintained 2-story home nestled in a quiet, sought-after Neighborhood. This Beautifully designed 4 bedrooms and 1 full bathrooms -residence offers an ideal blend of elegance, comfort and modern. Its Ready for you to move right in. Inside you're greeted by an impressive and generous open floor plan providing great space for relaxing and entertainment. This home boasts vinyl flooring throughout. Freshly painted interiors give it a bright and modern feel. Thoughtfully designed for comfort and convenience, On the second floor, you'll find 4 additional generously sized bedrooms . Enjoy quality family time in the formal living room -perfect for your relaxing afternoons. Large kitchen with ample cabinet, with eat in kitchen. This home has been extensively updated. A full basement provides extra storage , and laundry . and a backyard perfect for gardening or outdoor enjoyment. Perfectly situated Just steps away from a local playground and conveniently close to public transportation makes it convenient for families and commuters. With all major updates complete and classic Buffalo charm throughout, this home is ready for you to move-in. Don't miss your chance - this house is waiting for the next owner to make it their own.

8. 2021-11-05
   soldstatus $80,000
9. 2019-06-07
   soldstatus $55,000
10. 1997-12-08
    soldstatus $29,000

ⓘ 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: $331 · $28/mo
• Projected year-2 tax: $1,560 · $130/mo
• Expected delta: +$1,229/yr (+$102/mo · 371.6%)

ⓘ 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 2 unhealthy d/yr today · 3 by 30 yrs out

Taxation est. · year 1

• Rental income: $19,278
• − Mortgage interest: −$9,243
• − Property taxes: −$331
• − Insurance: −$825
• − Repairs & maintenance: −$1,542
• − Management: −$1,542
• − Depreciation: −$4,800
• Taxable income: $995
• Est. tax owed @ 24.0%: −$239
• After-tax cash flow: $3,452/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

+469.0% since first listed

5 events — show timeline

• 2026-04-27 Price Changed $165,000 WNYREIS
• 2026-03-09 Listed $169,900 WNYREIS
• 2021-11-05 Sold (Public Records) $80,000 Public Records
• 2019-06-07 Sold (Public Records) $55,000 Public Records
• 1997-12-08 Sold (Public Records) $29,000 Public Records

Property tax history

+3.2%/yr

Latest (2025): $331 · +0.0% YoY. Source: county tax records.