45 Wyoming Ave · Buffalo, NY 14215

$129,900

6 bd · 2.0 ba · 1,854 sqft · Townhouse public records · 20 Days on market

Built 1890 3,540 sqft lot Est $171k · 24% 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 +8.7/10.0
• 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

Excellent opportunity to own a spacious multi-family property located at 45 Wyoming Avenue in Buffalo. Each unit offers 2 bedrooms, a bright living room, formal dining room, full kitchen, and a full bathroom, providing comfortable layouts for both owner-occupants and tenants. This property features separate living spaces with strong rental potential and plenty of natural light throughout. Conveniently located near shopping, restaurants, schools, parks, and major highways. Great opportunity for investors or buyers looking to live in one unit while generating additional rental income.

Key facts

• Natural light
• Conveniently located
• Built 1890

Tags

• MULTI-FAMILY PROPERTY
• SEPARATE LIVING SPACES
• STRONG RENTAL POTENTIAL
• NATURAL LIGHT
• CONVENIENTLY LOCATED

Property features AI

Finance

• Other: Two-unit property with separate gas and electric meters; Operating expenses include water/sewer
• Financial info: Owner pays water (rent includes water)

Exterior

• Parking: Concrete parking
• Utilities: Public water connected; Sewer connected; Circuit breaker electric
• Home design: 2 stories; Existing construction
• Construction: Vinyl siding; Block foundation; Asphalt roof; PEX plumbing; Built (existing)
• Exterior features: Near public transit; Rectangular residential lot; City street frontage

Interior

• Flooring: Tile; Vinyl; Varies
• Bathrooms: 2 full bathrooms
• Heating & cooling: Gas forced air heating
• Interior features: Accessible doors; Partial basement
• Laundry & utility: Gas water heater

What this means for you Summary

Snapshot

• This is a 6-bed/2.0-bath townhouse listed at $130k.

Deal economics

• At list price, monthly cash flow is $584 ($7k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $130k).
• Recommended offer: $128k (1.5% below list) — sets the bar for market timing.
• Cap rate 12.2% 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.
• 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; 1 comparable units currently listed for rent nearby; lower-income renter base — watch delinquency; 1,244 units permitted in Erie County in 2024 (563 in 5+ unit buildings).
• At $1,782/mo this rent would consume 48% 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 $898 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 ~8 years — after that, you're playing with house money.

Negotiation context

• It's been on market 20 days — a 2% lower offer ($128k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts 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 $50k; list at $130k implies a 160% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: flood insurance adds $56/mo; built in 1890 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: severe flood risk — expect insurance premiums to compound above CPI over the hold.

Recommended offer $127,951 (1.5% below list)

Questions for the listing agent

1. Built in 1890 — 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 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: 1.37% ✓
• Cap rate: 12.20%
• Cash-on-cash: 21.11%
• DSCR: 1.94
• GRM: 6.1

CMA / ARV

• ARV (on-the-fly): $170,568
• Comps found: 8

Show comp detail 8 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
517 Goodyear Ave	0.39mi	6/2.0	1,926 (+4%)	3mo	$257,000	$133	73
417 Cambridge Ave	0.71mi	6/2.0	1,960 (+6%)	1mo	$220,000	$112	56
411 Cambridge Ave	0.70mi	6/2.0	1,960 (+6%)	3mo	$235,000	$120	56
109 Barthel St	0.65mi	6/2.0	1,743 (-6%)	6mo	$160,000	$92	55
1314 E Ferry St Unit N	0.42mi	6/2.0	2,122 (+14%)	4mo	$166,000	$78	53
32 Roslyn St	0.68mi	5/2.0 (-1)	2,048 (+10%)	3mo	$133,000	$65	43
188 Fougeron St	0.67mi	5/2.5 (-1)	1,786 (-4%)	19mo	$155,000	$87	40
405 Koons Ave	0.60mi	5/2.0 (-1)	2,010 (+8%)	16mo	$95,000	$47	40

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: 8.7%
• Equity multiple: 1.33×
• Total profit: $12,065
• Equity at exit: $19,369

10-year hold

• IRR: 15.9%
• Equity multiple: 2.16×
• Total profit: $42,361
• Equity at exit: $11,231

Cash invested: $36,372 (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: 6.1×

Monthly cashflow live

• Estimated rent: $1,782 medium
• Mortgage (P&I): −$681
• Tax from tax record: −$33 /mo · $393/yr
• Insurance: −$54
• Flood insurance flood zone: −$56 /mo · $666/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$374
• Net cashflow: $584

Break-even live

Break-even rent $1,043

Max offer price $129,900

Occupancy floor 62%

Sensitivity live

Price	-10% $658	-5% $621	+0% $584	+5% $548	+10% $511
Rent	-10% $444	-5% $514	+0% $584	+5% $655	+10% $725
Rate	-1.0pp $650	-0.5pp $617	base $584	+0.5pp $551	+1.0pp $516

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: $32,475
• Closing costs: $3,897
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
518 Wilson St Buffalo, NY	5.0	1.5	1848	$1,500	$0.81	25d	1	1.42mi

Listing history 14 events

1. 2026-06-21
   days on market $129,900 Active 20 DOM
2. 2026-06-18
   days on market $129,900 Active 17 DOM
3. 2026-06-17
   days on market $129,900 Active 16 DOM
4. 2026-06-16
   days on market $129,900 Active 15 DOM
5. 2026-06-15
   days on market $129,900 Active 14 DOM
6. 2026-06-13
   days on market $129,900 Active 12 DOM
7. 2026-06-13
   days on market $129,900 Active 11 DOM
8. 2026-06-10
   days on market $129,900 Active 9 DOM
9. 2026-06-09
   days on market $129,900 Active 8 DOM
10. 2026-06-08
    days on market $129,900 Active 7 DOM
11. 2026-06-07
    days on market $129,900 Active 6 DOM
12. 2026-06-03
    days on market $129,900 Active 2 DOM
13. 2026-06-02
    remarks 589-char remark
14. 2026-06-02
    listed $129,900 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: $393 · $33/mo
• Projected year-2 tax: $1,294 · $108/mo
• Expected delta: +$901/yr (+$75/mo · 229.3%)

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

Climate risk First Street

• 🌊 Flood 9/10 Extreme FEMA zone X (unshaded) · 99% 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: $21,387
• − Mortgage interest: −$7,276
• − Property taxes: −$393
• − Insurance: −$1,316
• − Repairs & maintenance: −$1,711
• − Management: −$1,711
• − Depreciation: −$3,779
• Taxable income: $5,200
• Est. tax owed @ 24.0%: −$1,248
• After-tax cash flow: $5,764/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

+159.8% since first listed

6 events — show timeline

• 2026-06-01 Listed $129,900 WNYREIS
• 2026-05-28 Listing Removed — WNYREIS
• 2026-05-27 Listed $129,900 WNYREIS
• 2025-11-30 Listing Removed — WNYREIS
• 2025-08-24 Listed $129,000 WNYREIS
• 2021-08-24 Sold (Public Records) $50,000 Public Records

Property tax history

+11.0%/yr

Latest (2025): $393 · +180.5% YoY. Source: county tax records.