35 Parkridge Ave · Buffalo, NY 14215

$234,500

5 bd · 2.0 ba · 2,040 sqft · MultiFamily public records · 12 Days on market

Built 1920 Est $163k · 44% over

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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 +27.4/30.0
• DSCR +9.6/10.0
• 1% rule +6.2/10.0
• Livability +3.9/5.0
• Schools +3.3/10.0
• Rent growth +2.7/5.0
• Condition / age +2.5/5.0
• ARV discount +0.0/15.0
• 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 MLS

Check out 35 Parkridge; a well cared for 2 family home with a completely renovated lower unit. All new new kitchen counters , and new laminate floors and carpeting. Tiled shower and floor in the bathroom. Beautiful red oak hardwood molding and with natural stained doors. Very low heating costs with custom insulated walls and two high efficiency furnaces. Basement is in great shape, prefect for a work shop and tons of room for storage. Stop in our open house on Sunday from 11 to 1. Offers will be reviewed on Tuesday the 25th at 5pm.

Key facts

• Successful airbnb
• Granite countertops
• Built 1920

Tags

• TWO FAMILY INVESTMENT
• SUCCESSFUL AIRBNB
• CHARMING COVERED FRONT PORCH
• ABUNDANT NATURAL LIGHT
• FULLY EQUIPPED KITCHEN
• GRANITE COUNTERTOPS

Property features AI

Exterior

• Home design: Built in 1920; Two-story property
• Construction: Original construction from 1920
• Exterior features: Located in the LaSalle subdivision

What this means for you Summary

Snapshot

• This is a 2 × 2-bed/2.0-bath units multifamily listed at $234k.

Deal economics

• At list price, monthly cash flow is $688 ($8k/yr) — positive. Per door: $344/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $234k).
• Cap rate 9.8% vs local median 8.0% in Buffalo — meaningfully above typical; check what's discounted (condition, days-on-market, listing class) to confirm the premium yield is real.

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; 10 comparable units currently listed for rent nearby; rentals leasing fast (median 2d on market — plan ~1-2 weeks tenant-placement turnaround); lower-income renter base — watch delinquency; 1,244 units permitted in Erie County in 2024 (563 in 5+ unit buildings).
• At $2,618/mo this rent would consume 70% 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 $2k of loan paydown is wiped out by about $7k of value loss. Plan a longer hold.

Negotiation context

• Only 12 days on market — expect competitive offers; lowballing is unlikely to land.
• 2 sale attempts since 4y 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 $188k; 25% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Watch-outs: built in 1920 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $234,500

Questions for the listing agent

1. Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
2. What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
3. Built in 1920 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
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: 1.12% ✓
• Cap rate: 9.81%
• Cash-on-cash: 12.57%
• DSCR: 1.56
• GRM: 7.5

CMA / ARV

• ARV (on-the-fly): $163,200
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
14 Phyllis Ave	0.43mi	6/2.0 (+1)	1,987 (-3%)	4mo	$227,500	$114	67
18 Phyllis Ave	0.43mi	5/2.0	2,134 (+5%)	8mo	$138,000	$65	66
19 Dunlop Ave	0.50mi	5/2.0	2,160 (+6%)	6mo	$160,000	$74	62
88 Marigold Ave	0.42mi	4/2.0 (-1)	1,960 (-4%)	8mo	$210,000	$107	62
132 Hewitt Ave	0.47mi	4/2.0 (-1)	1,946 (-5%)	5mo	$125,000	$64	61
475 Norfolk Ave	0.55mi	4/2.0 (-1)	2,068 (+1%)	8mo	$105,000	$51	60
96 Sussex St	0.62mi	5/2.0	2,152 (+6%)	4mo	$255,000	$118	59
92 Wakefield Ave	0.74mi	6/2.0 (+1)	2,046 (+0%)	8mo	$190,000	$93	54
329 Jewett Ave	0.56mi	4/4.0 (-1)	2,053 (+1%)	8mo	$165,000	$80	53
35 Erskine Ave	0.67mi	4/2.0 (-1)	2,135 (+5%)	4mo	$170,000	$80	52
440 Cornwall Ave	0.62mi	6/2.0 (+1)	2,200 (+8%)	6mo	$131,000	$60	47
168 Rodney Ave	0.74mi	6/2.0 (+1)	2,199 (+8%)	7mo	$175,000	$80	42

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: -0.1%
• Equity multiple: 1.00×
• Total profit: $-291
• Equity at exit: $34,965

10-year hold

• IRR: 7.2%
• Equity multiple: 1.49×
• Total profit: $32,236
• Equity at exit: $20,275

Cash invested: $65,660 (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: 14.9×

Monthly cashflow live

• Estimated rent: $2,618 high
• Mortgage (P&I): −$1,230
• Tax from tax record: −$53 /mo · $634/yr
• Insurance: −$98
• HOA: −$0
• Vacancy / Maint / Mgmt: −$550
• Net cashflow: $688

Break-even live

Break-even rent $1,747

Max offer price $234,500

Occupancy floor 69%

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

Units	Beds	Baths	Est. rent
▸ 2× units	2	2	$2,618
Total (2 units)			$2,618

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: $58,625
• Closing costs: $7,035
• Reserves months: —
• Total cash needed: —

Rent comps 10 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
89 Lasalle Ave Buffalo, NY	1.0–4.0	1.0–4.0	1024	$2,997	$2.93	1d	10	0.74mi
175 Lisbon Ave Buffalo, NY	5.0	2.0	2000	$2,500	$1.25	14d	1	0.79mi
85 Highgate Ave Buffalo, NY	5.0	2.0	2193	$3,750	$1.71	14d	1	0.90mi
65 Northrup Pl Buffalo, NY	5.0	2.0	1467	$2,500	$1.70	14d	1	0.96mi
24 Custer St Buffalo, NY	5.0	2.0	2500	$3,000	$1.20	14d	1	1.03mi
60 Englewood Ave Buffalo, NY	4.0	1.0	1400	$1,650	$1.18	1d	1	1.26mi
102 Englewood Ave Buffalo, NY	4.0	1.0	2426	$2,750	$1.13	1d	1	1.31mi
91 Englewood Ave Buffalo, NY	4.0	1.0	2500	$2,000	$0.80	1d	1	1.32mi
63 Montrose Ave Buffalo, NY	4.0	1.0	2240	$2,000	$0.89	1d	1	1.41mi
196 Englewood Ave Buffalo, NY	5.0	1.5	2560	$2,000	$0.78	1d	1	1.44mi

Listing history 11 events

1. 2026-06-18
   days on market $234,500 Active 12 DOM
2. 2026-06-17
   days on market $234,500 Active 11 DOM
3. 2026-06-16
   days on market $234,500 Active 10 DOM
4. 2026-06-15
   days on market $234,500 Active 9 DOM
5. 2026-06-13
   days on market $234,500 Active 7 DOM
6. 2026-06-13
   days on market $234,500 Active 6 DOM
7. 2026-06-10
   days on market $234,500 Active 4 DOM
8. 2026-06-09
   days on market $234,500 Active 3 DOM
9. 2026-06-08
   days on market $234,500 Active 2 DOM
10. 2026-06-07
    remarks 687-char remark
11. 2026-06-07
    listed $234,500 Active 1 DOM

ⓘ 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: $634 · $53/mo
• Projected year-2 tax: $2,299 · $192/mo
• Expected delta: +$1,665/yr (+$139/mo · 262.5%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Climate risk First Street

• 🌊 Flood 3/10 Moderate FEMA zone X (unshaded) · 20% 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: $31,416
• − Mortgage interest: −$13,136
• − Property taxes: −$634
• − Insurance: −$1,172
• − Repairs & maintenance: −$2,513
• − Management: −$2,513
• − Depreciation: −$6,822
• Taxable income: $4,625
• Est. tax owed @ 24.0%: −$1,110
• After-tax cash flow: $7,145/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

+42.1% since first listed

6 events — show timeline

• 2026-06-06 Listed $234,500 FSBO.com
• 2023-01-23 Sold (Public Records) $188,000 Public Records
• 2023-01-20 Sold (MLS) $188,000 WNYREIS
• 2022-11-16 Pending — WNYREIS
• 2022-10-31 Pending — WNYREIS
• 2022-10-19 Listed $165,000 WNYREIS

Property tax history

+11.2%/yr

Latest (2025): $634 · +126.3% YoY. Source: county tax records.