107 Oconnor Ave · Buffalo, NY 14220

$185,000

6 bd · 2.0 ba · 2,227 sqft · MultiFamily public records · 7 Days on market

Built 1924 3,600 sqft lot Est $187k · at est.

---

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 +26.1/30.0
• DSCR +8.8/10.0
• ARV discount +8.0/15.0
• 1% rule +5.6/10.0
• Rent growth +4.4/5.0
• Livability +3.9/5.0
• Schools +3.3/10.0
• 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: 1 unit. estimate disagrees with records

Listing remarks MLS

Remarkable 3/3 double located steps from Solar city! House offers maintenance free vinyl siding and has a brand new architectural roof (2017). House has copper plumbing, newer electrical and glass block windows. Both units have porch access for relaxing. Long term tenants make for a reliable investment!

Key facts

• 3,600 sq ft lot
• Built 1924
• Listed 7 days

Property features AI

Finance

• Financial info: Owner pays water; water is included in rent; Operating expenses include water/sewer; Two rental units with current rents of $1,110 and $1,200

Exterior

• Parking: No driveway
• Utilities: Public water connected; Sewer connected
• Home design: Two-story multi-family building; Resale property; Vinyl siding exterior
• Construction: Vinyl siding construction
• Exterior features: Rectangular residential lot with 30 x 120 dimensions; City street frontage

Interior

• Kitchen: Gas water heater (appliance listed)
• Bedrooms: Two 3-bedroom units (each unit described with living room and dining area)
• Flooring: Hardwood; Laminate; Varies
• Bathrooms: Two full bathrooms (one full bath per unit)
• Heating & cooling: Gas forced-air heating
• Interior features: Hardwood and laminate flooring in varied areas; Full basement
• Laundry & utility: Separate gas meters and separate electric meters for each unit

What this means for you Summary

Snapshot

• This is a 6-bed/2.0-bath multifamily listed at $185k.

Deal economics

• At list price, monthly cash flow is $408 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $185k).

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 rising fast (+7.6%/yr); 136 active listings in the ZIP; 1,244 units permitted in Erie County in 2024 (563 in 5+ unit buildings).
• This rent runs 33% of the median local income ($71k/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 $6k of value loss. Plan a longer hold.
• At projected returns (-3.0% appreciation + 7.6% rent growth), your $52k cash investment doubles in ~8 years — after that, you're playing with house money.

Negotiation context

• Only 7 days on market — expect competitive offers; lowballing is unlikely to land.
• 2 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.
• Current owner paid $70k; list at $185k implies a 164% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: flood insurance adds $56/mo; built in 1924 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: severe flood risk — expect insurance premiums to compound above CPI over the hold.

Recommended offer $185,000

Questions for the listing agent

1. Built in 1924 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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?
5. 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.
6. 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.
7. 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: 1.06% ✓
• Cap rate: 9.30%
• Cash-on-cash: 10.75%
• DSCR: 1.48
• GRM: 7.9

CMA / ARV

• ARV (on-the-fly): $187,068
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
331 Mystic St	0.15mi	6/2.0	2,174 (-2%)	5mo	$111,500	$51	85
35 Kimmel Ave	0.51mi	6/2.0	2,218 (-0%)	2mo	$225,000	$101	74
110 Trowbridge St	0.48mi	6/2.0	2,264 (+2%)	4mo	$180,000	$80	71
693 Hopkins St	0.18mi	5/2.0 (-1)	2,200 (-1%)	17mo	$88,000	$40	70
1726 S Park Ave	0.61mi	6/2.0	2,232 (+0%)	6mo	$77,500	$35	67
30 Macamley St	0.41mi	6/2.0	2,392 (+7%)	5mo	$284,000	$119	64
48 Payne Ave	0.52mi	6/2.0	2,308 (+4%)	9mo	$232,500	$101	62
68 Remoleno St	0.55mi	6/2.0	2,256 (+1%)	16mo	$231,150	$102	59
39 Kimmel Ave	0.51mi	6/2.0	2,016 (-10%)	4mo	$152,000	$75	57
1732 South Park Ave	0.62mi	6/2.0	2,251 (+1%)	15mo	$190,000	$84	57
72 Heussy Ave	0.49mi	6/2.0	2,350 (+6%)	14mo	$200,000	$85	56
147 Trowbridge St	0.53mi	6/2.0	2,024 (-9%)	9mo	$138,000	$68	52

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 · 7.62% rent growth · sell at horizon

5-year hold

• IRR: 2.6%
• Equity multiple: 1.11×
• Total profit: $5,506
• Equity at exit: $27,584

10-year hold

• IRR: 16.0%
• Equity multiple: 2.57×
• Total profit: $81,088
• Equity at exit: $15,995

Cash invested: $51,800 (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 14220

• Home prices YoY: -26.7%
• Rents YoY: 7.6%
• Active inventory: 136
• Price-to-rent: 7.9×

Monthly cashflow live

• Estimated rent: $1,959 medium
• Mortgage (P&I): −$970
• Tax from tax record: −$36 /mo · $437/yr
• Insurance: −$77
• Flood insurance flood zone: −$56 /mo · $666/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$411
• Net cashflow: $408

Break-even live

Break-even rent $1,442

Max offer price $185,000

Occupancy floor 74%

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: $46,250
• Closing costs: $5,550
• Reserves months: —
• Total cash needed: —

Listing history 7 events

1. 2026-05-16
   listed $185,000 Active
2. 2017-11-29
   soldstatus $70,000 Closed Sale or Rented 304-char remark

   Show marketing remark (304 chars)

   Remarkable 3/3 double located steps from Solar city! House offers maintenance free vinyl siding and has a brand new architectural roof (2017). House has copper plumbing, newer electrical and glass block windows. Both units have porch access for relaxing. Long term tenants make for a reliable investment!

3. 2017-11-01
   status Pending Sale 304-char remark

   Show marketing remark (304 chars)

   Remarkable 3/3 double located steps from Solar city! House offers maintenance free vinyl siding and has a brand new architectural roof (2017). House has copper plumbing, newer electrical and glass block windows. Both units have porch access for relaxing. Long term tenants make for a reliable investment!

4. 2017-10-18
   status Under Contract- Do Not Show 304-char remark

   Show marketing remark (304 chars)

   Remarkable 3/3 double located steps from Solar city! House offers maintenance free vinyl siding and has a brand new architectural roof (2017). House has copper plumbing, newer electrical and glass block windows. Both units have porch access for relaxing. Long term tenants make for a reliable investment!

5. 2017-09-29
   listed $75,000 Active 304-char remark

   Show marketing remark (304 chars)

   Remarkable 3/3 double located steps from Solar city! House offers maintenance free vinyl siding and has a brand new architectural roof (2017). House has copper plumbing, newer electrical and glass block windows. Both units have porch access for relaxing. Long term tenants make for a reliable investment!

6. 2006-03-27
   soldstatus $39,750
7. 2005-12-09
   soldstatus $18,000

ⓘ 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: $437 · $36/mo
• Projected year-2 tax: $1,782 · $148/mo
• Expected delta: +$1,345/yr (+$112/mo · 307.6%)

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

Climate risk First Street

• 🌊 Flood 8/10 Severe FEMA zone X (unshaded) · 95% 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: $23,508
• − Mortgage interest: −$10,363
• − Property taxes: −$437
• − Insurance: −$1,592
• − Repairs & maintenance: −$1,881
• − Management: −$1,881
• − Depreciation: −$5,382
• Taxable income: $1,973
• Est. tax owed @ 24.0%: −$474
• After-tax cash flow: $4,427/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): 24,428
• Household income: $70,963
• Rent vs Own: 29.3% rent · 70.7% own
• Severe rent burden: 602.0

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 White (76%)
• Race & ethnicity: White 76% Hispanic / Latino 13% Two or more races 6% Black 5% Asian 2%
• Hispanic origin (detail): Puerto Rican 10% Cuban 1%
• Common ancestry: Romanian 16% Lithuanian 1% Subsaharan African 1%
• Foreign-born: 4% · Canada, Jamaica, China
• Languages at home: 90% English-only · 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: ▼ -146.29%
• Current HPI: 402.5053
• Rent YoY: ▲ 7.62%
• 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

+927.8% since first listed

7 events — show timeline

• 2026-05-16 Listed $185,000 WNYREIS
• 2017-11-29 Sold (MLS) $70,000 WNYREIS
• 2017-11-01 Pending — WNYREIS
• 2017-10-18 Pending — WNYREIS
• 2017-09-29 Listed $75,000 WNYREIS
• 2006-03-27 Sold (Public Records) $39,750 Public Records
• 2005-12-09 Sold (Public Records) $18,000 Public Records

Property tax history

+6.1%/yr

Latest (2025): $437 · +0.0% YoY. Source: county tax records.