101 Gatchell St · Buffalo, NY 14212

$119,900

6 bd · 2.0 ba · 1,586 sqft · MultiFamily public records · 34 Days on market

Built 1900 3,300 sqft lot $76/sqft · 29% below area Est $168k · 29% under

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Why this score? — see what drove the A 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
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• Appreciation +10.0/10.0
• Livability +3.9/5.0
• Schools +3.3/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0

Multi-family units

County records classify this as Multi-Family (2-4 Unit). Listing-text estimate: 2 units. confirmed

Listing remarks

Great investment opportunity! Spacious 2-family home located off Bailey Ave featuring a total of 8 bedrooms and strong income potential. The front apartment is vacant and move-in ready, offering a living room, large kitchen with new flooring, 2 bedrooms, full bathroom, and convenient in-unit laundry hookups. Perfect for an owner-occupant or ready for a new tenant immediately. The rear duplex apartment is currently rented to long-term tenants paying $1,250/month. This spacious unit features a first floor with living room, dining room, large kitchen, full bathroom, and 2 bedrooms. The second floor includes 4 large bedrooms, providing plenty of space for a large household. Potential gross inco

Key facts

• 2 family home
• Long term tenants
• In unit laundry

Tags

• 2 FAMILY HOME
• IN UNIT LAUNDRY
• LONG TERM TENANTS
• CASH FLOW INVESTMENT

Property features AI

Finance

• Financial info: Two total units; One unit currently rents for $1,250; Operating expense details and what owner pays: see remarks

Exterior

• Parking: No driveway
• Utilities: Public water connected; Sewer connected
• Home design: Single-story building; Existing structure
• Construction: Construction details: see remarks
• Exterior features: Rectangular residential lot; City street frontage; Lot dimensions approximately 30 x 110

Interior

• Kitchen: Gas water heater
• Bedrooms: One unit has 6 bedrooms; One unit has 2 bedrooms
• Bathrooms: Two full bathrooms total (building); Each unit includes 1 full bathroom
• Heating & cooling: Gas heating (details in remarks)
• Interior features: Resale condition; Two separate electric meters and two separate gas meters (multi-unit)
• Laundry & utility: Utilities included vary by unit (see remarks)

🏷️ Possibly a rental listed for sale. The $119,900 price doesn't fit this home's estimated sale value (~$167,823) and the remarks read like a rental — treat the cards below with caution.

What this means for you Summary

Snapshot

• This is a 2 × 4-bed/1.0-bath units multifamily listed at $120k.

Deal economics

• At list price, monthly cash flow is $1k ($13k/yr) — positive. Per door: $540/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $120k).
• Recommended offer: $116k (3.0% below list) — sets the bar for market timing.
• Cap rate 17.1% 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: 83 active listings in the ZIP; 1 comparable units currently listed for rent nearby; 1,244 units permitted in Erie County in 2024 (563 in 5+ unit buildings).

Forward outlook

• In year one you build about $13k of equity ($829 loan paydown + $12k appreciation (10.0% local appreciation)).
• At projected returns (10.0% appreciation + 3.0% rent growth), your $34k cash investment doubles in ~2 years — after that, you're playing with house money.
• By year 3, paydown + projected appreciation supports a ~$32k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 34 days — a 3% lower offer ($116k) is reasonable based on typical stale-listing flexibility.
• 9 sale attempts since 11y ago; this cycle's ask has dropped $10k (8%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $22k; list at $120k implies a 439% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1900 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: major flood risk — expect insurance premiums to compound above CPI over the hold.

Recommended offer $116,303 (3.0% below list)

Questions for the listing agent

1. It's been on market 34 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 1900 — 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: 1.89% ✓
• Cap rate: 17.11%
• Cash-on-cash: 38.62%
• DSCR: 2.72
• GRM: 4.4

CMA / ARV

• ARV (median comp): $167,823
• List price: $119,900
• Delta: -28.56%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 7 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
21 Liddell St	0.33mi	6/1.5	1,610 (+2%)	5mo	$53,000	$33	76
362 Davey St	0.65mi	5/2.0 (-1)	1,640 (+3%)	2mo	$92,000	$56	57
227 Ashley St	0.53mi	5/2.0 (-1)	1,776 (+12%)	5mo	$145,000	$82	46
221 May St	0.48mi	5/2.0 (-1)	1,794 (+13%)	8mo	$91,000	$51	44
250 Gold St	0.74mi	5/2.0 (-1)	1,646 (+4%)	12mo	$190,000	$115	44
141 Moselle St	0.71mi	5/2.0 (-1)	1,730 (+9%)	8mo	$30,000	$17	40
304 Longnecker St	0.54mi	7/2.5 (+1)	1,803 (+14%)	14mo	$123,768	$69	33

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

10.0% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 54.1%
• Equity multiple: 4.99×
• Total profit: $134,082
• Equity at exit: $108,015

10-year hold

• IRR: 47.6%
• Equity multiple: 11.15×
• Total profit: $340,654
• Equity at exit: $232,939

Cash invested: $33,572 (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 14212

• Home prices YoY: 20.4%
• Active inventory: 83
• Price-to-rent: 8.8×

Monthly cashflow live

• Estimated rent: $2,268 high
• Mortgage (P&I): −$629
• Tax from tax record: −$32 /mo · $390/yr
• Insurance: −$50
• HOA: −$0
• Vacancy / Maint / Mgmt: −$476
• Net cashflow: $1,081

Break-even live

Break-even rent $900

Max offer price $119,900

Occupancy floor 47%

Sensitivity live

Price	-10% $1,148	-5% $1,114	+0% $1,081	+5% $1,047	+10% $1,013
Rent	-10% $901	-5% $991	+0% $1,081	+5% $1,170	+10% $1,260
Rate	-1.0pp $1,141	-0.5pp $1,111	base $1,081	+0.5pp $1,049	+1.0pp $1,018

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

Units	Beds	Baths	Est. rent
▸ 2× units	4	1	$2,268
Total (2 units)			$2,268

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: $29,975
• Closing costs: $3,597
• 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	24d	1	1.28mi

Listing history 48 events

1. 2026-06-18
   days on market $119,900 Active 34 DOM
2. 2026-06-17
   days on market $119,900 Active 33 DOM
3. 2026-06-16
   pricedays on market $119,900 Active 32 DOM
4. 2026-06-15
   days on market $129,900 Active 31 DOM
5. 2026-06-13
   days on market $129,900 Active 29 DOM
6. 2026-06-13
   days on market $129,900 Active 28 DOM
7. 2026-06-10
   days on market $129,900 Active 26 DOM
8. 2026-06-09
   days on market $129,900 Active 25 DOM
9. 2026-06-08
   days on market $129,900 Active 24 DOM
10. 2026-06-07
    days on market $129,900 Active 23 DOM
11. 2026-06-03
    days on market $129,900 Active 19 DOM
12. 2026-06-02
    days on market $129,900 Active 18 DOM
13. 2026-06-01
    days on market $129,900 Active 17 DOM
14. 2026-05-31
    days on market $129,900 Active 16 DOM
15. 2026-05-15
    listed $129,900 Active 912-char remark
16. 2024-02-11
    historical
17. 2023-12-05
    price $109,900
18. 2023-11-16
    listed $119,900 Active
19. 2023-07-06
    historical
20. 2023-06-30
    price $104,900
21. 2023-06-09
    price $109,900
22. 2023-05-24
    price $119,900
23. 2023-05-12
    listed $129,900 Active
24. 2017-06-13
    historical
25. 2017-05-16
    price $44,750
26. 2017-05-08
    price $44,800
27. 2017-05-01
    listed $44,900 Active
28. 2017-01-06
    status Active
29. 2016-12-31
    historical
30. 2016-12-31
    historical
31. 2016-11-21
    price $34,900
32. 2016-10-26
    price $35,900
33. 2016-09-20
    price $37,900
34. 2016-09-14
    price $38,900
35. 2016-08-25
    listed $39,900 Active
36. 2016-08-09
    historical
37. 2016-05-30
    historical Under Contract- Do Not Show
38. 2016-05-27
    status Active
39. 2016-05-17
    historical
40. 2016-04-27
    price $39,900
41. 2016-03-31
    price $44,900
42. 2016-03-22
    listed $49,900 Active
43. 2015-09-09
    historical
44. 2015-08-17
    price $46,900
45. 2015-07-13
    price $52,899
46. 2015-06-17
    price $59,899
47. 2015-06-09
    listed $59,900 Active
48. 1995-12-05
    soldstatus $22,234

ⓘ 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: $390 · $32/mo
• Projected year-2 tax: $1,208 · $101/mo
• Expected delta: +$818/yr (+$68/mo · 210.0%)

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

Climate risk First Street

• 🌊 Flood 6/10 Major FEMA zone X (unshaded) · 69% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 2/10 Low 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: $27,216
• − Mortgage interest: −$6,716
• − Property taxes: −$390
• − Insurance: −$600
• − Repairs & maintenance: −$2,177
• − Management: −$2,177
• − Depreciation: −$3,488
• Taxable income: $11,668
• Est. tax owed @ 24.0%: −$2,800
• After-tax cash flow: $10,166/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
• City population: 440,021
• Population (ZIP): 13,603

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: Highly diverse neighborhood (Simpson 0.75)
• Race & ethnicity: White 32% Black 27% Asian 25% Hispanic / Latino 9% Two or more races 8%
• Hispanic origin (detail): Puerto Rican 8%
• Common ancestry: Romanian 12% Serbian 1% Lithuanian 1%
• Foreign-born: 20% · Philippines, Canada, China
• Languages at home: 68% English-only · Other Indo-European 18% Spanish 4% Other Asian/Pacific 2%

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: ▲ 79.80%
• Current HPI: 471.6399
• Rent YoY: —
• Metro: —
• 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

+439.3% since first listed

35 events — show timeline

• 2026-06-15 Price Changed $119,900 WNYREIS
• 2026-05-15 Listed $129,900 WNYREIS
• 2024-02-11 Listing Removed — WNYREIS
• 2023-12-05 Price Changed $109,900 WNYREIS
• 2023-11-16 Listed $119,900 WNYREIS
• 2023-07-06 Listing Removed — WNYREIS
• 2023-06-30 Price Changed $104,900 WNYREIS
• 2023-06-09 Price Changed $109,900 WNYREIS
• 2023-05-24 Price Changed $119,900 WNYREIS
• 2023-05-12 Listed $129,900 WNYREIS
• 2017-06-13 Listing Removed — WNYREIS
• 2017-05-16 Price Changed $44,750 WNYREIS
• 2017-05-08 Price Changed $44,800 WNYREIS
• 2017-05-01 Listed $44,900 WNYREIS
• 2017-01-06 Relisted — WNYREIS
• 2016-12-31 Listing Removed — WNYREIS
• 2016-12-31 Listing Removed — WNYREIS
• 2016-11-21 Price Changed $34,900 WNYREIS
• 2016-10-26 Price Changed $35,900 WNYREIS
• 2016-09-20 Price Changed $37,900 WNYREIS
• 2016-09-14 Price Changed $38,900 WNYREIS
• 2016-08-25 Listed $39,900 WNYREIS
• 2016-08-09 Listing Removed — WNYREIS
• 2016-05-30 Contingent — WNYREIS
• 2016-05-27 Relisted — WNYREIS
• 2016-05-17 Listing Removed — WNYREIS
• 2016-04-27 Price Changed $39,900 WNYREIS
• 2016-03-31 Price Changed $44,900 WNYREIS
• 2016-03-22 Listed $49,900 WNYREIS
• 2015-09-09 Listing Removed — WNYREIS
• 2015-08-17 Price Changed $46,900 WNYREIS
• 2015-07-13 Price Changed $52,899 WNYREIS
• 2015-06-17 Price Changed $59,899 WNYREIS
• 2015-06-09 Listed $59,900 WNYREIS
• 1995-12-05 Sold (Public Records) $22,234 Public Records

Property tax history

+18.7%/yr

Latest (2025): $390 · +309.0% YoY. Source: county tax records.