162 Harvard Pl · Buffalo, NY 14209

$299,900

6 bd · 2.0 ba · 1,996 sqft · MultiFamily public records · 23 Days on market

Built 1910 1,800 sqft lot Est $204k · 47% over

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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 +25.2/30.0
• DSCR +8.3/10.0
• Appreciation +5.9/10.0
• 1% rule +5.3/10.0
• Rent growth +4.6/5.0
• Livability +3.9/5.0
• Schools +3.3/10.0
• Condition / age +2.5/5.0
• ARV discount +0.0/15.0

Multi-family units

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

Listing remarks

Great two family home in Main/ Lafayette neighborhood! Close to Downtown, Canisius College, and Elmwood strip. Entire house has been updated recently - Interior has remodeled kitchens including new cabinets, granite counter tops, flooring paint and lighting. Baths are totally updated with new fixtures, vanities, tub surrounds flooring and lighting. Great entertainment space with open living/dining rooms. Updated mechanics and exterior.

Key facts

• Entertainment space
• Two family home
• Updated kitchens

Tags

• TWO FAMILY HOME
• UPDATED KITCHENS
• REMODELED BATHS
• ENTERTAINMENT SPACE
• OPEN LIVING DINING ROOMS
• UPDATED MECHANICS

What this means for you Summary

Snapshot

• This is a 2 × 2-bed/1.0-bath units multifamily listed at $300k.

Deal economics

• At list price, monthly cash flow is $670 ($8k/yr) — positive. Per door: $335/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $300k).
• Recommended offer: $295k (1.5% below list) — sets the bar for market timing.

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 (+8.5%/yr); 56 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).
• At $3,100/mo this rent would consume 74% of the median local household income ($50k/yr) (locally 959% 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 $8k of equity ($2k loan paydown + $6k appreciation (1.9% local appreciation)).
• At projected returns (1.9% appreciation + 8.0% rent growth), your $84k cash investment doubles in ~5 years — after that, you're playing with house money.
• By year 5, paydown + projected appreciation supports a ~$34k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 23 days — a 2% lower offer ($295k) is reasonable based on typical stale-listing flexibility.
• 5 sale attempts since 2y 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 $35k; list at $300k implies a 757% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1910 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $295,401 (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 1910 — 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: 1.03% ✓
• Cap rate: 8.97%
• Cash-on-cash: 9.58%
• DSCR: 1.43
• GRM: 8.1

CMA / ARV

• ARV (on-the-fly): $203,592
• Comps found: 8

Show comp detail 8 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
933 Lafayette Ave	0.12mi	6/2.0	2,182 (+9%)	15mo	$150,000	$69	66
169 Florida St	0.51mi	6/2.0	2,138 (+7%)	3mo	$258,000	$121	62
1602 Jefferson Ave	0.47mi	5/2.0 (-1)	1,936 (-3%)	8mo	$290,000	$150	62
35 Florida St	0.27mi	6/2.0	2,200 (+10%)	11mo	$250,000	$114	61
159 Purdy St	0.60mi	6/2.0	2,080 (+4%)	6mo	$212,500	$102	60
48 Glenwood Ave	0.65mi	5/2.0 (-1)	1,879 (-6%)	2mo	$192,000	$102	53
304 Northland Ave	0.72mi	6/2.0	2,288 (+15%)	4mo	$121,000	$53	38
130 E Delavan Ave Unit N	0.51mi	5/3.0 (-1)	2,258 (+13%)	10mo	$115,000	$51	37

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

Projected returns pro-forma

1.86% appreciation · 8.0% rent growth · sell at horizon

5-year hold

• IRR: 16.7%
• Equity multiple: 1.92×
• Total profit: $77,397
• Equity at exit: $116,065

10-year hold

• IRR: 21.8%
• Equity multiple: 4.20×
• Total profit: $269,113
• Equity at exit: $165,444

Cash invested: $83,972 (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 14209

• Home prices YoY: 0.4%
• Rents YoY: 8.5%
• Active inventory: 56
• Price-to-rent: 16.1×

Monthly cashflow live

• Estimated rent: $3,100 high
• Mortgage (P&I): −$1,573
• Tax from tax record: −$81 /mo · $975/yr
• Insurance: −$125
• HOA: −$0
• Vacancy / Maint / Mgmt: −$651
• Net cashflow: $670

Break-even live

Break-even rent $2,252

Max offer price $299,900

Occupancy floor 73%

Sensitivity live

Price	-10% $840	-5% $755	+0% $670	+5% $585	+10% $500
Rent	-10% $425	-5% $548	+0% $670	+5% $793	+10% $915
Rate	-1.0pp $821	-0.5pp $746	base $670	+0.5pp $592	+1.0pp $513

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

Units	Beds	Baths	Est. rent
▸ 2× units	2	1	$3,100
Total (2 units)			$3,100

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: $74,975
• Closing costs: $8,997
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
15 Hughes Ave Buffalo, NY	7.0	2.0	1650	$3,000	$1.82	44d	1	0.47mi

Listing history 15 events

1. 2026-03-26
   historical $1,300
2. 2026-03-25
   status Pending
3. 2026-03-02
   listed $299,900 Active
4. 2025-11-20
   historical
5. 2025-09-17
   listed $329,900 Active
6. 2025-09-16
   price $1,300
7. 2025-07-31
   price $1,400
8. 2025-05-01
   listed $1,500
9. 2025-02-26
   listed $359,900 Active
10. 2024-11-16
    historical $1,550
11. 2024-10-30
    listed $1,550
12. 2017-05-31
    soldstatus $35,000
13. 2012-01-30
    soldstatus $82,000
14. 2005-09-28
    soldstatus $26,500
15. 2005-09-15
    soldstatus $24,000

ⓘ 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: $975 · $81/mo
• Projected year-2 tax: $3,022 · $252/mo
• Expected delta: +$2,047/yr (+$171/mo · 209.9%)

ⓘ 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 2/10 Low
• 🌡 Heat 2/10 Low 7 d/yr ≥91°F today · 14 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: $37,200
• − Mortgage interest: −$16,799
• − Property taxes: −$975
• − Insurance: −$1,500
• − Repairs & maintenance: −$2,976
• − Management: −$2,976
• − Depreciation: −$8,724
• Taxable income: $3,250
• Est. tax owed @ 24.0%: −$780
• After-tax cash flow: $7,261/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): 8,313
• Household income: $50,046
• Rent vs Own: 66.3% rent · 33.7% own
• Severe rent burden: 959.0

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 0.62)
• Race & ethnicity: White 53% Black 30% Hispanic / Latino 11% Two or more races 5% Asian 3%
• Hispanic origin (detail): Puerto Rican 6% Dominican 1%
• Common ancestry: Romanian 6% Lithuanian 2% Scotch-Irish 2%
• Foreign-born: 9% · Canada, Dominican Republic, China
• Languages at home: 88% English-only · Spanish 5% Other Indo-European 2% French/Haitian/Cajun 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: ▲ 1.86%
• Current HPI: 443.9414
• Rent YoY: ▲ 8.53%
• 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

-94.6% since first listed

15 events — show timeline

• 2026-03-26 Rental Removed $1,300 TENANTTURNER2
• 2026-03-25 Pending — WNYREIS
• 2026-03-02 Listed $299,900 WNYREIS
• 2025-11-20 Listing Removed — WNYREIS
• 2025-09-17 Listed $329,900 WNYREIS
• 2025-09-16 Price Changed $1,300 TENANTTURNER2
• 2025-07-31 Price Changed $1,400 TENANTTURNER2
• 2025-05-01 Listed for Rent $1,500 TENANTTURNER2
• 2025-02-26 Listed $359,900 WNYREIS
• 2024-11-16 Rental Removed $1,550 BUILDIUM
• 2024-10-30 Listed for Rent $1,550 BUILDIUM
• 2017-05-31 Sold (Public Records) $35,000 Public Records
• 2012-01-30 Sold (Public Records) $82,000 Public Records
• 2005-09-28 Sold (Public Records) $26,500 Public Records
• 2005-09-15 Sold (Public Records) $24,000 Public Records

Property tax history

+15.4%/yr

Latest (2025): $975 · +0.0% YoY. Source: county tax records.