62 Edison Ave · Buffalo, NY 14215

$130,000

6 bd · 2.0 ba · 1,760 sqft · MultiFamily public records · 46 Days on market

Built 1918 3,720 sqft lot $74/sqft · 51% below area

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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
• ARV discount +7.5/15.0
• 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: 2 units. confirmed

Listing remarks

Two unit house with full basement, off street parking, attic, and some new windows.

Key facts

• Attic
• Off street parking
• Full basement

Tags

• FULL BASEMENT
• OFF STREET PARKING
• ATTIC
• NEW WINDOWS

Property features AI

Finance

• Other: Two total units; Separate gas and electric meters for each unit (2 separate gas meters, 2 separate electric meters); Operating expenses include trash and water
• Financial info: Owner pays trash collection and water; Trash and water included in rent/operating expenses

Exterior

• Parking: Paved off-street parking (two or more spaces)
• Utilities: Electricity connected; Public water connected; Sewer connected
• Home design: 2-story multifamily property; Existing construction
• Construction: Shingle roof; Composite siding with frame construction; Built as existing (year built not specified)
• Exterior features: Paved parking with two or more spaces; Near public transit; Rectangular residential lot; City street frontage; Lot dimensions approximately 30 x 124

Interior

• Kitchen: Gas water heater
• Bedrooms: Two 3-bedroom units (each unit includes a living room)
• Bathrooms: Two full bathrooms (one in each unit)
• Heating & cooling: Gas forced-air heating
• Interior features: Full basement
• Laundry & utility: Washer hookup

What this means for you Summary

Snapshot

• This is a 2 × 3-bed/1.0-bath units multifamily listed at $130k.

Deal economics

• At list price, monthly cash flow is $1k ($15k/yr) — positive. Per door: $626/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $130k).
• Recommended offer: $126k (3.0% below list) — sets the bar for market timing.
• Cap rate 17.8% 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; 239 active listings in the ZIP; lower-income renter base — watch delinquency; 1,244 units permitted in Erie County in 2024 (563 in 5+ unit buildings).
• At $2,566/mo this rent would consume 68% 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 $899 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 $36k cash investment doubles in ~3 years — after that, you're playing with house money.

Negotiation context

• It's been on market 46 days — a 3% lower offer ($126k) is reasonable based on typical stale-listing flexibility.
• Current owner paid $40k; list at $130k implies a 225% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1918 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $126,100 (3.0% below list)

Questions for the listing agent

1. It's been on market 46 days. Have you received any prior offers? Is the seller open to a 3% 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 1918 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. 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?
7. 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.
8. 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.
9. 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: 1.97% ✓
• Cap rate: 17.85%
• Cash-on-cash: 41.27%
• DSCR: 2.84
• GRM: 4.2

CMA / ARV

• ARV (median comp): $267,091
• List price: $130,000
• Delta: -51.33%
• 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
274 Newburgh Ave	0.37mi	5/2.0 (-1)	1,754 (-0%)	4mo	$185,000	$105	74
1428 E Delavan Ave Unit N	0.13mi	6/2.0	1,941 (+10%)	14mo	$180,000	$93	65
358 Newburgh Ave	0.32mi	5/2.0 (-1)	1,959 (+11%)	2mo	$165,000	$84	59
94 Ericson Ave	0.57mi	6/2.0	1,974 (+12%)	2mo	$85,000	$43	52
229 Courtland Ave	0.25mi	5/2.0 (-1)	1,560 (-11%)	16mo	$154,900	$99	51
1135 E Delavan Ave	0.64mi	6/2.0	1,914 (+9%)	8mo	$207,000	$108	48
43 Newburgh Ave	0.67mi	5/2.0 (-1)	1,858 (+6%)	11mo	$176,500	$95	45
35 Loxley Rd	0.75mi	5/2.0 (-1)	1,943 (+10%)	1mo	$175,000	$90	42
49 Countess Ave	0.67mi	5/2.0 (-1)	1,650 (-6%)	17mo	$90,000	$55	40
70 Humason Ave	0.62mi	5/2.0 (-1)	1,892 (+8%)	21mo	$107,000	$57	36
69 Texas St	0.58mi	6/2.0	2,015 (+14%)	22mo	$148,000	$73	31
93 Manhart St	0.67mi	6/2.0	1,995 (+13%)	22mo	$220,000	$110	28

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: 35.3%
• Equity multiple: 2.45×
• Total profit: $52,752
• Equity at exit: $19,383

10-year hold

• IRR: 40.9%
• Equity multiple: 4.45×
• Total profit: $125,431
• Equity at exit: $11,240

Cash invested: $36,400 (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: 8.4×

Monthly cashflow live

• Estimated rent: $2,566 high
• Mortgage (P&I): −$682
• Tax from tax record: −$39 /mo · $472/yr
• Insurance: −$54
• HOA: −$0
• Vacancy / Maint / Mgmt: −$539
• Net cashflow: $1,252

Break-even live

Break-even rent $981

Max offer price $130,000

Occupancy floor 46%

Sensitivity live

Price	-10% $1,325	-5% $1,289	+0% $1,252	+5% $1,215	+10% $1,178
Rent	-10% $1,049	-5% $1,151	+0% $1,252	+5% $1,353	+10% $1,455
Rate	-1.0pp $1,317	-0.5pp $1,285	base $1,252	+0.5pp $1,218	+1.0pp $1,184

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

Units	Beds	Baths	Est. rent
▸ 2× units	3	1	$2,566
Total (2 units)			$2,566

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: $32,500
• Closing costs: $3,900
• Reserves months: —
• Total cash needed: —

Listing history 18 events

1. 2026-06-21
   days on market $130,000 Active 46 DOM
2. 2026-06-18
   days on market $130,000 Active 43 DOM
3. 2026-06-17
   days on market $130,000 Active 42 DOM
4. 2026-06-16
   days on market $130,000 Active 41 DOM
5. 2026-06-15
   days on market $130,000 Active 40 DOM
6. 2026-06-13
   days on market $130,000 Active 38 DOM
7. 2026-06-13
   days on market $130,000 Active 37 DOM
8. 2026-06-10
   days on market $130,000 Active 35 DOM
9. 2026-06-09
   days on market $130,000 Active 34 DOM
10. 2026-06-08
    days on market $130,000 Active 33 DOM
11. 2026-06-07
    days on market $130,000 Active 32 DOM
12. 2026-06-03
    days on market $130,000 Active 28 DOM
13. 2026-06-02
    days on market $130,000 Active 27 DOM
14. 2026-06-01
    days on market $130,000 Active 26 DOM
15. 2026-05-31
    days on market $130,000 Active 25 DOM
16. 2026-05-06
    listed $130,000 Active 83-char remark
17. 2006-08-02
    soldstatus $40,000
18. 2003-12-31
    soldstatus $24,500

ⓘ 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: $472 · $39/mo
• Projected year-2 tax: $1,335 · $111/mo
• Expected delta: +$862/yr (+$72/mo · 182.6%)

ⓘ 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: $30,792
• − Mortgage interest: −$7,282
• − Property taxes: −$472
• − Insurance: −$650
• − Repairs & maintenance: −$2,463
• − Management: −$2,463
• − Depreciation: −$3,782
• Taxable income: $13,679
• Est. tax owed @ 24.0%: −$3,283
• After-tax cash flow: $11,740/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

+430.6% since first listed

3 events — show timeline

• 2026-05-06 Listed $130,000 WNYREIS
• 2006-08-02 Sold (Public Records) $40,000 Public Records
• 2003-12-31 Sold (Public Records) $24,500 Public Records

Property tax history

+5.7%/yr

Latest (2025): $472 · +62.0% YoY. Source: county tax records.