497 Hinman Ave · Buffalo, NY 14216

$229,900

4 bd · 2.0 ba · 1,600 sqft · Townhouse public records · 18 Days on market

Built 1900 2,700 sqft lot $144/sqft · at area comps Est $229k · at est.

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Why this score? — see what drove the D 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 +14.3/30.0
• ARV discount +7.3/15.0
• DSCR +4.3/10.0
• Livability +3.9/5.0
• Rent growth +3.4/5.0
• Schools +3.3/10.0
• 1% rule +2.6/10.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

MUST SEE!!! Come see this spacious, brick front and vinyl-clad 2/2 double in the desirable and revitalized North Buffalo neighborhood near the amenities of Hertel Avenue and the Village of Kenmore. This previously owner-occupied and meticulously kept investment property has FANTASTIC rental & CASH FLOW potential recently bringing in $2,350 per month, an abundance of natural light & an inviting upper unit balcony, perfect for sipping your morning coffee. Featuring two beautifully updated kitchens w/ wood & white cabinetry, attractive counters & tile flooring downstairs and up with newer carpet in the living areas. Remodeled downstairs & upstairs bathrms w/ clean

Key facts

• Brick front
• Vinyl clad
• Tile flooring

Tags

• BRICK FRONT
• VINYL CLAD
• UPPER UNIT BALCONY
• UPDATED KITCHENS
• TILE FLOORING
• REMODELED BATHROOMS

Property features AI

Finance

• Financial info: Two-unit multifamily (2 total units); Separate gas meters for each unit; Separate electric meters for each unit; Unit 1 rent $1,200; Unit 2 rent $1,150; Operating expense details: see remarks; Owner pays: trash collection (see remarks)

Exterior

• Parking: Paved parking; Multiple parking spaces available (two or more)
• Utilities: Electricity connected; Public water connected; Sewer connected; Cable available; High-speed internet available
• Home design: Two-story building; Resale property
• Construction: Brick and vinyl siding exterior; Architectural shingle roof; Stone foundation; Copper plumbing
• Exterior features: Awning(s); Balcony; Enclosed porch; Front porch; Private yard; Partial fencing; See remarks

Interior

• Kitchen: Eat-in kitchen in each unit
• Bedrooms: Two bedrooms in each unit (2 units total)
• Flooring: Carpet; Luxury vinyl; Tile; Varies by room
• Bathrooms: Two full bathrooms total (one full bathroom in each unit)
• Heating & cooling: Gas forced-air heating
• Interior features: Ceiling fans; Natural woodwork; Accessible bedroom; Bedroom on main level
• Laundry & utility: Gas water heater

What this means for you Summary

Snapshot

• This is a 4-bed/2.0-bath townhouse listed at $230k.

Deal economics

• At list price, monthly cash flow is $42 ($503/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $176k (23.6% below list).
• Recommended offer: $176k (23.6% below list) — sets the bar for 1% rule.

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 (+3.6%/yr); 88 active listings in the ZIP; 15 comparable units currently listed for rent nearby; rentals at typical pace (median 20d on market — plan ~3-4 weeks tenant-placement turnaround); 1,244 units permitted in Erie County in 2024 (563 in 5+ unit buildings).
• This rent runs 30% of the median local income ($70k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $2k of loan paydown is wiped out by about $7k of value loss. Plan a longer hold.

Negotiation context

• It's been on market 18 days — a 2% lower offer ($226k) is reasonable based on typical stale-listing flexibility.
• 6 sale attempts since 9y 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 $130k; list at $230k implies a 77% 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: moderate flood risk — expect insurance premiums to compound above CPI over the hold.

Recommended offer $175,686 (23.6% below list)

Questions for the listing agent

1. Built in 1900 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. 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?
4. The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?
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: 0.76% ✗
• Cap rate: 6.51%
• Cash-on-cash: 0.78%
• DSCR: 1.03
• GRM: 10.9

CMA / ARV

• ARV (median comp): $228,938
• List price: $229,900
• Delta: 0.42%
• Verdict: FAIR
• Comps: 20 within 1.0 mi

Show comp detail 2 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
115 Newfield St	0.48mi	4/2.0	1,584 (-1%)	15mo	$185,000	$117	63
314 Tremont Ave	0.67mi	4/2.0	1,824 (+14%)	1mo	$264,000	$145	44

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 · 3.65% rent growth · sell at horizon

5-year hold

• IRR: -14.5%
• Equity multiple: 0.48×
• Total profit: $-33,550
• Equity at exit: $34,279

10-year hold

• IRR: -5.0%
• Equity multiple: 0.67×
• Total profit: $-21,466
• Equity at exit: $19,878

Cash invested: $64,372 (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 14216

• Rents YoY: 3.6%
• Active inventory: 88
• Price-to-rent: 10.9×

Monthly cashflow live

• Estimated rent: $1,757 high
• Mortgage (P&I): −$1,206
• Tax from tax record: −$45 /mo · $535/yr
• Insurance: −$96
• HOA: −$0
• Vacancy / Maint / Mgmt: −$369
• Net cashflow: $42

Break-even live

Break-even rent $1,704

Max offer price $229,900

Occupancy floor 93%

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: $57,475
• Closing costs: $6,897
• Reserves months: —
• Total cash needed: —

Rent comps 15 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
62 Seabrook St Buffalo, NY	4.0	1.0	1300	$2,000	$1.54	1d	1	0.67mi
118 Rano St Buffalo, NY	3.0	1.0	1050	$1,200	$1.14	21d	1	0.80mi
158 Chadduck Ave Buffalo, NY	4.0	1.0	1200	$1,250	$1.04	23d	1	0.81mi
172 Tremont Ave Kenmore, NY	3.0	1.5	1569	$2,500	$1.59	10d	1	0.83mi
61 Baxter St Buffalo, NY	3.0	1.0	2014	$1,400	$0.70	1d	1	0.96mi
2522 Delaware Ave Buffalo, NY	3.0	1.0	1150	$1,625	$1.41	1d	1	0.99mi
2514 Delaware Ave Unit 1 Buffalo, NY	3.0	1.0	1620	$1,650	$1.02	1d	1	1.00mi
237 W Girard Blvd Buffalo, NY	4.0	1.5	1329	$4,000	$3.01	23d	1	1.04mi
244 Hartwell Rd Buffalo, NY	3.0	1.0	1250	$1,500	$1.20	3d	1	1.08mi
78 Germain St Buffalo, NY	3.0	1.0	2030	$1,300	$0.64	14d	1	1.21mi
62 Germain St Buffalo, NY	3.0	1.0	1320	$1,250	$0.95	23d	1	1.24mi
139 Fordham Dr Buffalo, NY	3.0	1.0	1453	$1,700	$1.17	23d	1	1.35mi
77 Lovering Ave #2 Buffalo, NY	3.0	1.0	1450	$1,895	$1.31	43d	1	1.36mi
140 Commonwealth Ave Unit 1 Buffalo, NY	3.0	1.0	1250	$3,500	$2.80	43d	1	1.42mi
88 Commonwealth Ave Buffalo, NY	3.0	1.0	1355	$1,695	$1.25	20d	1	1.48mi

Listing history 19 events

1. 2026-05-01
   listed $229,900 Active 1435-char remark
2. 2026-04-02
   historical
3. 2026-04-02
   historical
4. 2026-04-01
   historical
5. 2026-03-28
   price $259,888
6. 2026-02-27
   listed $269,888 Active
7. 2026-02-27
   listed $269,888 Active
8. 2025-06-24
   historical
9. 2025-04-17
   price $249,900
10. 2025-03-24
    listed $229,900 Active
11. 2024-10-01
    historical
12. 2024-08-01
    listed $229,900 Active
13. 2018-02-09
    soldstatus $130,000 Closed Sale or Rented
14. 2018-02-09
    soldstatus $130,000
15. 2017-11-27
    status Under Contract- Do Not Show
16. 2017-11-20
    listed $130,000 Active
17. 2016-11-22
    soldstatus $33,744
18. 2006-10-23
    soldstatus $20,000
19. 1999-10-27
    soldstatus $57,000

ⓘ 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: $535 · $45/mo
• Projected year-2 tax: $2,210 · $184/mo
• Expected delta: +$1,675/yr (+$140/mo · 313.1%)

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

Climate risk First Street

• 🌊 Flood 5/10 Major FEMA zone X (unshaded) · 49% 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 3 unhealthy d/yr today · 4 by 30 yrs out

Taxation est. · year 1

• Rental income: $21,082
• − Mortgage interest: −$12,878
• − Property taxes: −$535
• − Insurance: −$1,150
• − Repairs & maintenance: −$1,687
• − Management: −$1,687
• − Depreciation: −$6,688
• Taxable loss: −$3,541
• Est. tax savings @ 24.0%: +$850
• After-tax cash flow: $1,353/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): 22,849
• Household income: $69,629
• Rent vs Own: 54.4% rent · 45.6% own
• Severe rent burden: 1831.0

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 White (72%)
• Race & ethnicity: White 72% Black 16% Hispanic / Latino 7% Two or more races 5% Asian 1%
• Hispanic origin (detail): Puerto Rican 5%
• Common ancestry: Romanian 10% Iranian 2% Lithuanian 1%
• Foreign-born: 5% · Canada, China
• Languages at home: 90% English-only · Spanish 5% French/Haitian/Cajun 1% 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: ▼ -264.53%
• Current HPI: 421.1138
• Rent YoY: ▲ 3.65%
• 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

+303.3% since first listed

20 events — show timeline

• 2026-05-19 Pending — WNYREIS
• 2026-05-01 Listed $229,900 WNYREIS
• 2026-04-02 Listing Removed — UNYREIS
• 2026-04-02 Listing Removed — UNYREIS
• 2026-04-01 Listing Removed — OneKey® MLS as Distributed by MLS Grid
• 2026-03-28 Price Changed $259,888 OneKey® MLS as Distributed by MLS Grid
• 2026-02-27 Listed $269,888 OneKey® MLS as Distributed by MLS Grid
• 2026-02-27 Listed $269,888 UNYREIS
• 2025-06-24 Listing Removed — WNYREIS
• 2025-04-17 Price Changed $249,900 WNYREIS
• 2025-03-24 Listed $229,900 WNYREIS
• 2024-10-01 Listing Removed — WNYREIS
• 2024-08-01 Listed $229,900 WNYREIS
• 2018-02-09 Sold (Public Records) $130,000 Public Records
• 2018-02-09 Sold (MLS) $130,000 WNYREIS
• 2017-11-27 Pending — WNYREIS
• 2017-11-20 Listed $130,000 WNYREIS
• 2016-11-22 Sold (Public Records) $33,744 Public Records
• 2006-10-23 Sold (Public Records) $20,000 Public Records
• 1999-10-27 Sold (Public Records) $57,000 Public Records

Property tax history

+5.4%/yr

Latest (2025): $535 · +64.6% YoY. Source: county tax records.