60 Longnecker St · Buffalo, NY 14206

$145,000

4 bd · 2.0 ba · 1,128 sqft · MultiFamily public records · 17 Days on market

Built 1920 3,450 sqft lot Est $125k · 16% over

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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 +9.0/10.0
• Appreciation +9.0/10.0
• Livability +3.9/5.0
• Schools +3.3/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• ARV discount +0.4/15.0

Multi-family units

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

Listing remarks MLS

* * * ATTENTION INVESTORS AND/OR OWNER OCCUPANTS * * * COME SEE THIS TWO FAMILY (UPPER/LOWER) HOME IN THE BUFFALO LOVEJOY NEIGHBORHOOD. * EACH UNIT HAS TWO BEDROOMS AND ONE FULL BATH * ENJOY RELAXING ON THE COVERED FRONT PORCH * THE FULLY FENCED YARD HAS A ONE CAR GARAGE WITH AN ATTACHED COVERED PATIO. THERE IS ALSO ROOM IN THE YARD FOR A GARDEN * BOTH APARTMENTS ARE CURRENLY OCCUPIED * * * * * 24 HOUR NOTICE IS REQUIRED FOR ALL SHOWINGS * * * * * BOTH APARTMENTS ARE AVAILABLE FOR SHOWINGS ANY DAY AFTER 5:00PM * * * SELLER IS MOTIVATED AND OPEN TO OFFERS * * *

Key facts

• Fresh paint
• Formal dining room
• Two family home

Tags

• TWO FAMILY HOME
• NEWLY UPDATED BATHROOMS
• FRESH PAINT
• FORMAL DINING ROOM
• FULLY FENCED YARD
• ATTACHED COVERED PATIO

Property features AI

Finance

• Financial info: Owner pays water for rental units; Operating expenses include water/sewer

Exterior

• Parking: Detached or on-site concrete parking with two or more spaces; One garage space
• Utilities: Public water connected; Sewer connected
• Home design: One-story building; Two-unit residential property; Existing construction
• Construction: Fiber cement siding; Copper and PEX plumbing; Asphalt shingle roof; Stone foundation
• Exterior features: Fully fenced yard; Patio; Rectangular residential lot on a city street (30 x 115)

Interior

• Flooring: Hardwood; Varies
• Bathrooms: Two full bathrooms
• Heating & cooling: Gas hot water heating
• Interior features: Full basement; Hardwood and varied flooring throughout; Gas water heater

What this means for you Summary

Snapshot

• This is a 2 × 2-bed/1.0-bath units multifamily listed at $145k.

Deal economics

• At list price, monthly cash flow is $596 ($7k/yr) — positive. Per door: $298/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $145k).
• Recommended offer: $143k (1.5% below list) — sets the bar for market timing.
• Cap rate 11.2% 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.
• Market conditions: 169 active listings in the ZIP; 4 comparable units currently listed for rent nearby; rentals lingering (median 44d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 50% of comp listings sitting > 30 days — soft ceiling on asking rent; 1,244 units permitted in Erie County in 2024 (563 in 5+ unit buildings).
• At $2,023/mo this rent would consume 48% of the median local household income ($50k/yr) (locally 841% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

Forward outlook

• In year one you build about $13k of equity ($1k loan paydown + $12k appreciation (8.1% local appreciation)).
• At projected returns (8.1% appreciation + 3.0% rent growth), your $41k 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 17 days — a 2% lower offer ($143k) is reasonable based on typical stale-listing flexibility.
• 2 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 $125k; 16% 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 $142,825 (1.5% below list)

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: 1.40% ✓
• Cap rate: 11.23%
• Cash-on-cash: 17.62%
• DSCR: 1.78
• GRM: 6.0

CMA / ARV

• ARV (on-the-fly): $125,208
• Comps found: 2

Show comp detail 2 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
60 Longnecker St	0.00mi	4/2.0	1,128 (0%)	15mo	$125,000	$111	88
360 Longnecker St	0.57mi	3/2.0 (-1)	1,098 (-3%)	9mo	$100,000	$91	56

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

Projected returns pro-forma

8.06% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 33.9%
• Equity multiple: 3.42×
• Total profit: $98,270
• Equity at exit: $110,737

10-year hold

• IRR: 30.2%
• Equity multiple: 7.33×
• Total profit: $256,995
• Equity at exit: $220,363

Cash invested: $40,600 (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 14206

• Home prices YoY: 1.8%
• Active inventory: 169
• Price-to-rent: 11.9×

Monthly cashflow live

• Estimated rent: $2,023 medium
• Mortgage (P&I): −$760
• Tax est. 1.5%: −$181 /mo · $2,175/yr
• Insurance: −$60
• HOA: −$0
• Vacancy / Maint / Mgmt: −$425
• Net cashflow: $596

Break-even live

Break-even rent $1,268

Max offer price $145,000

Occupancy floor 66%

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

Units	Beds	Baths	Est. rent
▸ 2× units	2	1	$2,024
Total (2 units)			$2,023

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: $36,250
• Closing costs: $4,350
• Reserves months: —
• Total cash needed: —

Rent comps 4 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1150 Bailey Ave Buffalo, NY	4.0	1.5	1100	$1,200	$1.09	23d	1	0.28mi
1777 Broadway Unit 2 Buffalo, NY	3.0	1.0	1300	$1,200	$0.92	43d	1	0.78mi
14 Rutland Ave Buffalo, NY	4.0	1.0	1430	$2,200	$1.54	10d	1	1.34mi
47 Lester St Unit Main Floor Buffalo, NY	3.0	1.0	900	$1,000	$1.11	43d	1	1.49mi

Listing history 16 events

1. 2026-06-18
   days on market $145,000 Active 17 DOM
2. 2026-06-17
   days on market $145,000 Active 16 DOM
3. 2026-06-16
   days on market $145,000 Active 15 DOM
4. 2026-06-15
   status $145,000 Active 14 DOM
5. 2026-06-07
   statusdays on market $145,000 Pending 14 DOM
6. 2026-06-03
   days on market $145,000 Active 12 DOM
7. 2026-06-02
   remarks 683-char remark
8. 2026-06-02
   days on market $145,000 Active 11 DOM
9. 2026-06-01
   days on market $145,000 Active 10 DOM
10. 2026-05-31
    days on market $145,000 Active 9 DOM
11. 2026-05-22
    listed $145,000 Active
12. 2025-04-17
    soldstatus $125,000
13. 2025-03-31
    soldstatus $125,000 Closed 587-char remark

    Show marketing remark (587 chars)

    * * * ATTENTION INVESTORS AND/OR OWNER OCCUPANTS * * * COME SEE THIS TWO FAMILY (UPPER/LOWER) HOME IN THE BUFFALO LOVEJOY NEIGHBORHOOD. * EACH UNIT HAS TWO BEDROOMS AND ONE FULL BATH * ENJOY RELAXING ON THE COVERED FRONT PORCH * THE FULLY FENCED YARD HAS A ONE CAR GARAGE WITH AN ATTACHED COVERED PATIO. THERE IS ALSO ROOM IN THE YARD FOR A GARDEN * BOTH APARTMENTS ARE CURRENLY OCCUPIED * * * * * 24 HOUR NOTICE IS REQUIRED FOR ALL SHOWINGS * * * * * BOTH APARTMENTS ARE AVAILABLE FOR SHOWINGS ANY DAY AFTER 5:00PM * * * SELLER IS MOTIVATED AND OPEN TO OFFERS * * *

14. 2025-02-21
    status Pending 587-char remark

    Show marketing remark (587 chars)

    * * * ATTENTION INVESTORS AND/OR OWNER OCCUPANTS * * * COME SEE THIS TWO FAMILY (UPPER/LOWER) HOME IN THE BUFFALO LOVEJOY NEIGHBORHOOD. * EACH UNIT HAS TWO BEDROOMS AND ONE FULL BATH * ENJOY RELAXING ON THE COVERED FRONT PORCH * THE FULLY FENCED YARD HAS A ONE CAR GARAGE WITH AN ATTACHED COVERED PATIO. THERE IS ALSO ROOM IN THE YARD FOR A GARDEN * BOTH APARTMENTS ARE CURRENLY OCCUPIED * * * * * 24 HOUR NOTICE IS REQUIRED FOR ALL SHOWINGS * * * * * BOTH APARTMENTS ARE AVAILABLE FOR SHOWINGS ANY DAY AFTER 5:00PM * * * SELLER IS MOTIVATED AND OPEN TO OFFERS * * *

15. 2025-02-15
    listed $129,900 Active 587-char remark

    Show marketing remark (587 chars)

    * * * ATTENTION INVESTORS AND/OR OWNER OCCUPANTS * * * COME SEE THIS TWO FAMILY (UPPER/LOWER) HOME IN THE BUFFALO LOVEJOY NEIGHBORHOOD. * EACH UNIT HAS TWO BEDROOMS AND ONE FULL BATH * ENJOY RELAXING ON THE COVERED FRONT PORCH * THE FULLY FENCED YARD HAS A ONE CAR GARAGE WITH AN ATTACHED COVERED PATIO. THERE IS ALSO ROOM IN THE YARD FOR A GARDEN * BOTH APARTMENTS ARE CURRENLY OCCUPIED * * * * * 24 HOUR NOTICE IS REQUIRED FOR ALL SHOWINGS * * * * * BOTH APARTMENTS ARE AVAILABLE FOR SHOWINGS ANY DAY AFTER 5:00PM * * * SELLER IS MOTIVATED AND OPEN TO OFFERS * * *

16. 2024-11-06
    soldstatus $70,000

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

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 ≥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: $24,276
• − Mortgage interest: −$8,122
• − Property taxes: −$2,175
• − Insurance: −$725
• − Repairs & maintenance: −$1,942
• − Management: −$1,942
• − Depreciation: −$4,218
• Taxable income: $5,151
• Est. tax owed @ 24.0%: −$1,236
• After-tax cash flow: $5,917/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): 21,631
• Household income: $50,450
• Rent vs Own: 39.3% rent · 60.7% own
• Severe rent burden: 841.0

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: Majority White (65%)
• Race & ethnicity: White 65% Hispanic / Latino 13% Black 12% Two or more races 8% Asian 4%
• Hispanic origin (detail): Mexican 2% Puerto Rican 10%
• Common ancestry: Romanian 25% Lithuanian 1% Italian 1%
• Foreign-born: 6% · Canada, China
• Languages at home: 88% English-only · Spanish 5% Other Indo-European 3% Arabic 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: ▲ 8.06%
• Current HPI: 457.3935
• Rent YoY: —
• 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

+107.1% since first listed

6 events — show timeline

• 2026-05-22 Listed $145,000 WNYREIS
• 2025-04-17 Sold (Public Records) $125,000 Public Records
• 2025-03-31 Sold (MLS) $125,000 WNYREIS
• 2025-02-21 Pending — WNYREIS
• 2025-02-15 Listed $129,900 WNYREIS
• 2024-11-06 Sold (Public Records) $70,000 Public Records

Property tax history

-0.1%/yr

Latest (2025): $258 · +0.0% YoY. Source: county tax records.