110 Buffalo St · Gowanda, NY 14070

$184,900

5 bd · 2.0 ba · 2,652 sqft · MultiFamily public records · 75 Days on market

Built 1890 1.70 ac lot $70/sqft · 25% below area Est $246k · 25% under

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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 +25.8/30.0
• ARV discount +15.0/15.0
• Appreciation +10.0/10.0
• DSCR +8.6/10.0
• 1% rule +7.1/10.0
• Schools +3.5/10.0
• Livability +3.5/5.0
• 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 MLS

Rare multi-family opportunity in the Village of Gowanda offering approximately 2,652 sq ft, 5 bedrooms, 2 full baths, and a detached 2-car garage on a generous lot. This duplex features a large footprint, classic 2-story design, and additional porch space, creating strong potential for rental income, owner-occupancy, or value-add improvement. Hard-to-find lot size offers added appeal and flexibility. Convenient location close to village amenities and everyday services. Tax Maps do not accurately reflect the parcel size or boundaries.

Key facts

• Generous lot
• Porch space
• Convenient location

Tags

• MULTI-FAMILY OPPORTUNITY
• DETACHED GARAGE
• GENEROUS LOT
• PORCH SPACE
• RENTAL INCOME POTENTIAL
• CONVENIENT LOCATION

What this means for you Summary

Snapshot

• This is a 2 × 2-bed/1.0-bath units multifamily listed at $185k.

Deal economics

• At list price, monthly cash flow is $447 ($5k/yr) — positive. Per door: $223/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $185k).
• Recommended offer: $174k (6.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads 70/100 on livability (#457 in NY) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety A+; Watch: schools C-, amenities F, commute F.
• Gowanda Central School District (rural): math 38% / reading 44% proficiency, ranked #513 of 590 in NY (top 87%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 24 active listings in the ZIP; 1,244 units permitted in Erie County in 2024 (563 in 5+ unit buildings).

Forward outlook

• In year one you build about $20k of equity ($1k loan paydown + $18k appreciation (10.0% local appreciation)).
• At projected returns (10.0% appreciation + 3.0% rent growth), your $52k cash investment doubles in ~2 years — after that, you're playing with house money.
• By year 2, 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 75 days — a 6% lower offer ($174k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts since 14y ago; this cycle's ask has dropped $15k (8%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $80k; list at $185k implies a 131% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1890 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $173,806 (6.0% below list)

Questions for the listing agent

1. It's been on market 75 days. Have you received any prior offers? Is the seller open to a 6% 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 1890 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
5. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
6. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
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: 1.21% ✓
• Cap rate: 9.19%
• Cash-on-cash: 10.35%
• DSCR: 1.46
• GRM: 6.9

CMA / ARV

• ARV (median comp): $245,721
• List price: $184,900
• Delta: -24.75%
• Verdict: UNDERPRICED
• Comps: 12 within 1.0 mi

Projected returns pro-forma

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

5-year hold

• IRR: 31.9%
• Equity multiple: 3.50×
• Total profit: $129,203
• Equity at exit: $166,573

10-year hold

• IRR: 27.5%
• Equity multiple: 7.92×
• Total profit: $358,234
• Equity at exit: $359,220

Cash invested: $51,772 (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 14070

• Home prices YoY: 8.8%
• Active inventory: 24
• Price-to-rent: 13.8×

Monthly cashflow live

• Estimated rent: $2,237 medium
• Mortgage (P&I): −$970
• Tax from tax record: −$274 /mo · $3,288/yr
• Insurance: −$77
• HOA: −$0
• Vacancy / Maint / Mgmt: −$470
• Net cashflow: $447

Break-even live

Break-even rent $1,672

Max offer price $184,900

Occupancy floor 75%

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

Units	Beds	Baths	Est. rent
▸ 2× units	2	1	$2,236
Total (2 units)			$2,237

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: $46,225
• Closing costs: $5,547
• Reserves months: —
• Total cash needed: —

Listing history 21 events

1. 2026-06-18
   days on market $184,900 Active 75 DOM
2. 2026-06-17
   days on market $184,900 Active 74 DOM
3. 2026-06-16
   days on market $184,900 Active 73 DOM
4. 2026-06-15
   days on market $184,900 Active 72 DOM
5. 2026-06-13
   days on market $184,900 Active 70 DOM
6. 2026-06-12
   days on market $184,900 Active 69 DOM
7. 2026-06-09
   days on market $184,900 Active 66 DOM
8. 2026-06-08
   pricedays on market $184,900 Active 65 DOM
9. 2026-06-07
   days on market $199,900 Active 64 DOM
10. 2026-06-07
    days on market $199,900 Active 63 DOM
11. 2026-06-04
    days on market $199,900 Active 60 DOM
12. 2026-06-02
    days on market $199,900 Active 59 DOM
13. 2026-06-01
    days on market $199,900 Active 58 DOM
14. 2026-05-31
    days on market $199,900 Active 57 DOM
15. 2026-04-04
    listed $199,900 Active 539-char remark

    Show marketing remark (539 chars)

    Rare multi-family opportunity in the Village of Gowanda offering approximately 2,652 sq ft, 5 bedrooms, 2 full baths, and a detached 2-car garage on a generous lot. This duplex features a large footprint, classic 2-story design, and additional porch space, creating strong potential for rental income, owner-occupancy, or value-add improvement. Hard-to-find lot size offers added appeal and flexibility. Convenient location close to village amenities and everyday services. Tax Maps do not accurately reflect the parcel size or boundaries.

16. 2018-09-27
    soldstatus $80,000
17. 2014-01-24
    soldstatus $45,000 235-char remark

    Show marketing remark (235 chars)

    Well located within walking distance of downtown, dollar store, Tim Hortons. Well maintained 2 story features large rooms, wonderful large yard, det 2 car garage, front and side porches. Excellent rental income or live in and rent out.

18. 2014-01-24
    soldstatus $45,000

    Show marketing remark (235 chars)

    Well located within walking distance of downtown, dollar store, Tim Hortons. Well maintained 2 story features large rooms, wonderful large yard, det 2 car garage, front and side porches. Excellent rental income or live in and rent out.

19. 2013-06-24
    listed $58,000 235-char remark

    Show marketing remark (235 chars)

    Well located within walking distance of downtown, dollar store, Tim Hortons. Well maintained 2 story features large rooms, wonderful large yard, det 2 car garage, front and side porches. Excellent rental income or live in and rent out.

20. 2012-12-03
    listed $62,000
21. 2012-06-02
    listed $62,000

ⓘ 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: $3,288 · $274/mo
• Projected year-2 tax: $3,288 · $274/mo
• Expected delta: $0/yr ($0/mo · 0.0%)

ⓘ 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 3/10 Moderate
• 🌡 Heat 2/10 Low 7 d/yr ≥93°F today · 17 d/yr by 30 yrs out
• 💨 Wind 1/10 Low
• 🫁 Air quality 2/10 Low 1 unhealthy d/yr today · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $26,844
• − Mortgage interest: −$10,357
• − Property taxes: −$3,288
• − Insurance: −$924
• − Repairs & maintenance: −$2,148
• − Management: −$2,148
• − Depreciation: −$5,379
• Taxable income: $2,600
• Est. tax owed @ 24.0%: −$624
• After-tax cash flow: $4,735/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: Gowanda Central School District
• NCES district ID: 3612390
• Math proficiency: 38% ▼ -13.00%
• Reading proficiency: 44% ▲ 3.00%
• Median HH income: $43,777
• Composite: 34.71/100
• National rank: #5138
• State rank: #513 of 590 in NY

Livability — Gowanda

• Score: 70/100
• State rank: #457
• US rank: #7988

Category grades

Amenities F Commute F Cost of living A+ Crime B+ Employment F Housing A+ Health & safety A+ User ratings A

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Gowanda, NY
• Population (ZIP): 5,437

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 (81%)
• Race & ethnicity: White 81% Native American 10% Hispanic / Latino 5% Two or more races 3% Black 1%
• Hispanic origin (detail): Puerto Rican 4%
• Common ancestry: Romanian 9% Italian 3% Slovak 2%
• Foreign-born: 3% · Canada
• Languages at home: 94% English-only · Spanish 3% German/W. Germanic 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: ▲ 21.64%
• Current HPI: 269.1092
• 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

+222.4% since first listed

7 events — show timeline

• 2026-04-04 Listed $199,900 WNYREIS
• 2018-09-27 Sold (Public Records) $80,000 Public Records
• 2014-01-24 Sold (Public Records) $45,000 Public Records
• 2014-01-24 Sold (MLS) $45,000 WNYREIS
• 2013-06-24 Listed $58,000 WNYREIS
• 2012-12-03 Listed $62,000 WNYREIS
• 2012-06-02 Listed $62,000 WNYREIS

Property tax history

+4.1%/yr

Latest (2025): $3,288 · +2.8% YoY. Source: county tax records.