610 Niagara St · Buffalo, NY 14201

$269,900

4 bd · 2.0 ba · 4,132 sqft · MultiFamily public records · 13 Days on market

Built 1900 4,760 sqft lot $65/sqft · 58% below area

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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
• DSCR +10.0/10.0
• 1% rule +8.1/10.0
• ARV discount +7.5/15.0
• Livability +3.9/5.0
• Rent growth +3.6/5.0
• 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: 2 units. confirmed

Listing remarks

Located on a major bus route and just minutes from local shopping, this sprawling 4,000+ square foot dwelling in the historic Porter Avenue district offers the perfect blend of traditional neighborhood charm and everyday convenience. Situated close to D’Youville University, this well-maintained home has been updated with a newer roof, windows, siding, and furnaces. The interior features updated kitchens and bathrooms, with a unique upstairs layout that includes two kitchens and two full baths—ideal for an effortless in-law arrangement. Negotiations delayed until Tuesday May 5th at noon.

Key facts

• Updated siding
• Updated furnaces
• Updated windows

Tags

• UPDATED ROOF
• UPDATED WINDOWS
• UPDATED SIDING
• UPDATED FURNACES
• UPDATED KITCHENS
• UPDATED BATHROOMS

Property features AI

Finance

• Other: Owner pays: see remarks/other; Rent includes: see remarks
• Financial info: Multi-family property with 2 total units; Each unit has separate gas and electric meters; Unit 1 rent listed at $1,000 (actual/total); Operating expenses: see remarks

Exterior

• Parking: Two or more off-street parking spaces
• Utilities: Electricity connected; Public water connected; Sewer connected
• Home design: 2-story building; Resale property
• Construction: Aluminum siding; Vinyl siding; Shingle roof; Built (existing structure)
• Exterior features: Rectangular lot with 34 x 140 dimensions; Located on a main thoroughfare

Interior

• Kitchen: Unit 1: Eat-in kitchen; Unit 2: Eat-in kitchen, dishwasher, microwave
• Bedrooms: One unit with 4 bedrooms; One unit with 2 bedrooms
• Flooring: Hardwood; Laminate; Tile; Vinyl; Varied flooring
• Bathrooms: Four full bathrooms (total for property); Unit 1: 2 full bathrooms; Unit 2: 2 full bathrooms
• Heating & cooling: Gas forced-air heating
• Interior features: Entrance foyer; Full basement
• Laundry & utility: Gas water heater

What this means for you Summary

Snapshot

• This is a 2 × 2-bed/1-bath units multifamily listed at $270k.

Deal economics

• At list price, monthly cash flow is $1k ($14k/yr) — positive. Per door: $590/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($4k rent vs $270k).
• Cap rate 11.5% 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 rising fast (+4.3%/yr); 56 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 $3,530/mo this rent would consume 105% of the median local household income ($41k/yr) (locally 1213% 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 $8k of value loss. Plan a longer hold.
• At projected returns (-3.0% appreciation + 4.3% rent growth), your $76k cash investment doubles in ~7 years — after that, you're playing with house money.

Negotiation context

• Only 13 days on market — expect competitive offers; lowballing is unlikely to land.
• 3 sale attempts since 14y 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.

Risks & watch-outs

• Watch-outs: built in 1900 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $269,900

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 1900 — 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: 1.31% ✓
• Cap rate: 11.54%
• Cash-on-cash: 18.73%
• DSCR: 1.83
• GRM: 6.4

CMA / ARV

• ARV (median comp): $642,606
• List price: $269,900
• Delta: -58.00%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 3 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
767 Prospect Ave	0.53mi	5/— (+1)	4,593 (+11%)	11mo	$240,000	$52	42
175 Richmond Ave	0.71mi	4/—	3,653 (-12%)	15mo	$532,500	$146	35
81,83,85 West Ave	0.59mi	5/4.0 (+1)	3,590 (-13%)	22mo	$432,500	$120	19

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 · 4.28% rent growth · sell at horizon

5-year hold

• IRR: 11.8%
• Equity multiple: 1.47×
• Total profit: $35,881
• Equity at exit: $40,243

10-year hold

• IRR: 21.7%
• Equity multiple: 2.94×
• Total profit: $146,939
• Equity at exit: $23,336

Cash invested: $75,572 (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 14201

• Home prices YoY: -19.1%
• Rents YoY: 4.3%
• Active inventory: 56
• Price-to-rent: 12.7×

Monthly cashflow live

• Estimated rent: $3,530 high
• Mortgage (P&I): −$1,415
• Tax from tax record: −$81 /mo · $977/yr
• Insurance: −$112
• HOA: −$0
• Vacancy / Maint / Mgmt: −$741
• Net cashflow: $1,179

Break-even live

Break-even rent $2,037

Max offer price $269,900

Occupancy floor 62%

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

Units	Beds	Baths	Est. rent
▸ 2× units	2	1	$3,530
Total (2 units)			$3,530

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: $67,475
• Closing costs: $8,097
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
11 Hoyt St Buffalo, NY	4.0	1.0	2848	$1,775	$0.62	14d	1	1.13mi

Listing history 6 events

1. 2026-05-11
   status Pending 605-char remark
2. 2026-04-27
   listed $269,900 Active 605-char remark
3. 2014-05-01
   historical
4. 2014-04-17
   listed $106,000
5. 2014-01-02
   historical
6. 2012-05-24
   listed $94,900

ⓘ 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: $977 · $81/mo
• Projected year-2 tax: $2,769 · $231/mo
• Expected delta: +$1,792/yr (+$149/mo · 183.3%)

ⓘ 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 ≥91°F today · 15 d/yr by 30 yrs out
• 💨 Wind 1/10 Low
• 🫁 Air quality 4/10 Moderate 4 unhealthy d/yr today · 9 by 30 yrs out

Taxation est. · year 1

• Rental income: $42,360
• − Mortgage interest: −$15,119
• − Property taxes: −$977
• − Insurance: −$1,350
• − Repairs & maintenance: −$3,389
• − Management: −$3,389
• − Depreciation: −$7,852
• Taxable income: $10,285
• Est. tax owed @ 24.0%: −$2,468
• After-tax cash flow: $11,684/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): 12,369
• Household income: $40,512
• Rent vs Own: 76.4% rent · 23.6% own
• Severe rent burden: 1213.0

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: Diverse neighborhood (Simpson 0.66)
• Race & ethnicity: White 42% Hispanic / Latino 36% Black 16% Two or more races 12% Asian 2% Native American 1%
• Hispanic origin (detail): Mexican 4% Puerto Rican 30% Dominican 1%
• Common ancestry: Romanian 7% Subsaharan African 2% Slovak 1%
• Foreign-born: 8% · Canada, China
• Languages at home: 69% English-only · Spanish 24% Arabic 2% Other Indo-European 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: ▼ -68.73%
• Current HPI: 290.2643
• Rent YoY: ▲ 4.28%
• 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

+184.4% since first listed

6 events — show timeline

• 2026-05-11 Pending — WNYREIS
• 2026-04-27 Listed $269,900 WNYREIS
• 2014-05-01 Listing Removed — WNYREIS
• 2014-04-17 Listed $106,000 WNYREIS
• 2014-01-02 Listing Removed — WNYREIS
• 2012-05-24 Listed $94,900 WNYREIS

Property tax history

+13.4%/yr

Latest (2025): $977 · -1.5% YoY. Source: county tax records.