113 Elmer Ave · Buffalo, NY 14215

$99,999

3 bd · 1.0 ba · 1,433 sqft · SingleFamily public records · 12 Days on market

Built 1925 3,696 sqft lot $70/sqft · 34% below area Est $152k · 34% 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
• DSCR +10.0/10.0
• 1% rule +9.5/10.0
• 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

Calling all investors — good bones on this 3 bedroom, 1 bath two-story home with a detached garage. Roof is 7 years old, good layout, full basement, vinyl fence/gate. Ready for a remodel project and priced accordingly. Conveniently located with easy access to downtown and local amenities. Showings immediate, offers, if any, will be reviewed on 4/29 at 12pm. Lead based paint violation will need to be remedied during remodel process.

Key facts

• Full basement
• Local amenities
• Vinyl fence

Tags

• FULL BASEMENT
• VINYL FENCE
• DETACHED GARAGE
• EASY ACCESS TO DOWNTOWN
• LOCAL AMENITIES

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $100k.

Deal economics

• At list price, monthly cash flow is $560 ($7k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $100k).
• Cap rate 13.0% 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; 23 comparable units currently listed for rent nearby; rentals at typical pace (median 24d on market — plan ~3-4 weeks tenant-placement turnaround); 48% 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).
• This rent runs 39% 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 $691 of loan paydown is wiped out by about $3k of value loss. Plan a longer hold.
• At projected returns (-3.0% appreciation + 0.7% rent growth), your $28k cash investment doubles in ~6 years — after that, you're playing with house money.

Negotiation context

• Only 12 days on market — expect competitive offers; lowballing is unlikely to land.

Risks & watch-outs

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

Recommended offer $99,999

Questions for the listing agent

1. Built in 1925 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. 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?
4. 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.
5. 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.
6. 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: 1.45% ✓
• Cap rate: 13.01%
• Cash-on-cash: 24.00%
• DSCR: 2.07
• GRM: 5.7

CMA / ARV

• ARV (median comp): $152,373
• List price: $99,999
• Delta: -34.37%
• 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
84 Elmer Ave	0.06mi	3/1.0	1,510 (+5%)	1mo	$125,000	$83	87
37 Elmer Ave	0.15mi	4/1.0 (+1)	1,327 (-7%)	0mo	$170,000	$128	76
153 Stockbridge Ave	0.18mi	3/1.0	1,248 (-13%)	3mo	$150,000	$120	67
243 Berkshire Ave	0.18mi	4/2.0 (+1)	1,617 (+13%)	1mo	$220,000	$136	60
59 Martha Ave	0.51mi	3/1.0	1,282 (-10%)	1mo	$149,000	$116	58
496 Berkshire Ave	0.50mi	3/1.0	1,266 (-12%)	1mo	$125,000	$99	57
347 Lisbon Ave	0.57mi	3/1.5	1,558 (+9%)	3mo	$180,000	$116	54
353 Warwick Ave	0.62mi	3/1.0	1,611 (+12%)	1mo	$161,800	$100	50
190 Victoria Ave	0.69mi	4/1.5 (+1)	1,305 (-9%)	0mo	$200,000	$153	45
176 Lasalle Ave	0.55mi	4/2.0 (+1)	1,601 (+12%)	2mo	$270,000	$169	44
622 Lasalle Ave	0.67mi	4/1.0 (+1)	1,258 (-12%)	3mo	$115,000	$91	41
141 Millicent Ave	0.62mi	4/2.0 (+1)	1,620 (+13%)	2mo	$142,000	$88	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 · 0.67% rent growth · sell at horizon

5-year hold

• IRR: 14.7%
• Equity multiple: 1.57×
• Total profit: $16,100
• Equity at exit: $14,910

10-year hold

• IRR: 21.8%
• Equity multiple: 2.67×
• Total profit: $46,757
• Equity at exit: $8,646

Cash invested: $28,000 (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: 5.7×

Monthly cashflow live

• Estimated rent: $1,452 high
• Mortgage (P&I): −$524
• Tax from tax record: −$21 /mo · $247/yr
• Insurance: −$42
• HOA: −$0
• Vacancy / Maint / Mgmt: −$305
• Net cashflow: $560

Break-even live

Break-even rent $743

Max offer price $99,999

Occupancy floor 56%

Sensitivity live

Price	-10% $617	-5% $588	+0% $560	+5% $532	+10% $503
Rent	-10% $445	-5% $503	+0% $560	+5% $617	+10% $675
Rate	-1.0pp $610	-0.5pp $586	base $560	+0.5pp $534	+1.0pp $508

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: $25,000
• Closing costs: $3,000
• Reserves months: —
• Total cash needed: —

Rent comps 23 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
140 Parkridge Ave Buffalo, NY	3.0	1.0	990	$1,500	$1.52	44d	1	0.14mi
220 Dartmouth Ave Buffalo, NY	2.0	1.0	1000	$1,100	$1.10	24d	1	0.36mi
97 Davidson Ave Buffalo, NY	3.0	1.0	925	$1,495	$1.62	2d	1	0.48mi
263 Minnesota Ave Unit Upper Buffalo, NY	3.0	1.0	1242	$1,500	$1.21	15d	1	0.50mi
265 Lisbon Ave Unit 2 Buffalo, NY	3.0	1.0	1200	$1,400	$1.17	44d	1	0.56mi
222 Lisbon Ave Buffalo, NY	4.0	1.0	1300	$1,400	$1.08	24d	1	0.61mi
222 Lisbon Ave Unit Upper Buffalo, NY	3.0	1.0	1400	$1,400	$1.00	44d	1	0.61mi
189 Westminster Ave Buffalo, NY	4.0	1.5	1065	$1,595	$1.50	11d	1	0.62mi
89 Lasalle Ave Buffalo, NY	1.0–4.0	1.0–4.0	1024	$2,291	$2.24	2d	10	0.64mi
92 Lasalle Ave Unit 1 Buffalo, NY	2.0	1.0	1000	$1,150	$1.15	44d	1	0.66mi
40 Lisbon Ave Unit Upper Buffalo, NY	2.0	1.0	1057	$1,500	$1.42	11d	1	0.78mi
90 Sussex St Unit 2 Buffalo, NY	2.0	1.0	1000	$1,000	$1.00	44d	1	0.87mi
74 Dorris Ave Buffalo, NY	3.0	1.0	1200	$1,450	$1.21	44d	1	0.89mi
26 Custer St Buffalo, NY	2.0	1.0	1000	$1,300	$1.30	44d	1	0.89mi
17 Proctor Ave Unit 1 Buffalo, NY	2.0	1.0	900	$1,100	$1.22	44d	1	0.91mi
71 Gerald Ave Buffalo, NY	2.0	1.0	1773	$1,100	$0.62	44d	1	1.05mi
60 Englewood Ave Buffalo, NY	4.0	1.0	1400	$1,650	$1.18	2d	1	1.08mi
76 Vernon Pl Unit Lower Buffalo, NY	3.0	1.0	1190	$1,445	$1.21	15d	1	1.17mi
76 Vernon Pl Unit Upper Buffalo, NY	3.0	1.0	1190	$1,595	$1.34	15d	1	1.17mi
163 Carmel Rd Buffalo, NY	3.0	1.0	1400	$1,800	$1.29	3d	1	1.30mi
249 Newburgh Ave Unit 2 Buffalo, NY	2.0	1.0	930	$1,300	$1.40	44d	1	1.32mi
216 Newburgh Ave Buffalo, NY	2.0	1.0	1690	$1,150	$0.68	24d	1	1.37mi
61 Courtland Ave Unit Lower Buffalo, NY	2.0	1.0	1000	$1,300	$1.30	44d	1	1.38mi

Listing history 2 events

1. 2026-05-04
   status Pending 441-char remark

   Show marketing remark (441 chars)

   Calling all investors — good bones on this 3 bedroom, 1 bath two-story home with a detached garage. Roof is 7 years old, good layout, full basement, vinyl fence/gate. Ready for a remodel project and priced accordingly. Conveniently located with easy access to downtown and local amenities. Showings immediate, offers, if any, will be reviewed on 4/29 at 12pm. Lead based paint violation will need to be remedied during remodel process.

2. 2026-04-22
   listed $99,999 Active 441-char remark

   Show marketing remark (441 chars)

   Calling all investors — good bones on this 3 bedroom, 1 bath two-story home with a detached garage. Roof is 7 years old, good layout, full basement, vinyl fence/gate. Ready for a remodel project and priced accordingly. Conveniently located with easy access to downtown and local amenities. Showings immediate, offers, if any, will be reviewed on 4/29 at 12pm. Lead based paint violation will need to be remedied during remodel process.

ⓘ 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: $247 · $21/mo
• Projected year-2 tax: $968 · $81/mo
• Expected delta: +$722/yr (+$60/mo · 292.7%)

ⓘ 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: $17,418
• − Mortgage interest: −$5,601
• − Property taxes: −$247
• − Insurance: −$500
• − Repairs & maintenance: −$1,393
• − Management: −$1,393
• − Depreciation: −$2,909
• Taxable income: $5,374
• Est. tax owed @ 24.0%: −$1,290
• After-tax cash flow: $5,431/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

2 events — show timeline

• 2026-05-04 Pending — UNYREIS
• 2026-04-22 Listed $99,999 UNYREIS

Property tax history

+0.9%/yr

Latest (2025): $247 · +0.0% YoY. Source: county tax records.