109 Baitz Ave · Buffalo, NY 14206

$194,900

6 bd · 2.0 ba · 2,268 sqft · MultiFamily public records · 23 Days on market

Built 1920 3,880 sqft lot Est $145k · 34% 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
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• 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 +0.0/15.0

Multi-family units

County records classify this as Multi-Family (2-4 Unit). Listing-text estimate: 1 unit. estimate disagrees with records

Listing remarks MLS

Attention investors and potential homeowners! Don’t miss out on this spacious 6-bedroom, 2-bath home located in Buffalo’s Lovejoy neighborhood. With over 2,200 sq ft of living space and a detached 2-car garage, this 2.5-story property offers a flexible layout and tons of potential. The home is in need of a full renovation, perfect for those looking to add value through updates. Whether you're planning a flip or designing your future home, this is a fantastic opportunity to unlock the property's full potential. Situated on a quiet residential street with strong rental demand and neighborhood appeal.

Key facts

• New kitchens
• New doors
• Updated double

Tags

• UPDATED DOUBLE
• NEW KITCHENS
• FULLY RENOVATED BATHROOMS
• NEW WINDOWS
• NEW DOORS
• NEW FURNACES

Property features AI

Finance

• Other: Property listed as a multi-unit (2 total units) with separate utility meters
• Financial info: Owner pays water; tenants pay all utilities; Operating expenses include insurance and water

Exterior

• Parking: Off-site paved parking with two or more spaces; Detached 2-car garage
• Utilities: Public water connected; Sewer connected
• Home design: Two-story building; Vinyl siding construction; Existing (previously built) property
• Construction: Vinyl siding; Two stories
• Exterior features: Near public transit; Rectangular residential lot; City street frontage

Interior

• Kitchen: Gas water heater
• Bedrooms: Two separate residential units (total 2 units)
• Flooring: Carpet; Tile; Vinyl; Varies by area
• Bathrooms: Two full bathrooms (total)
• Heating & cooling: Gas forced-air heating
• Interior features: Carpet, tile, vinyl, and varied flooring throughout; Resale condition
• Laundry & utility: Separate gas and electric meters for each unit

What this means for you Summary

Snapshot

• This is a 6-bed/2.0-bath multifamily listed at $195k.

Deal economics

• At list price, monthly cash flow is $1k ($16k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $195k).
• Recommended offer: $192k (1.5% below list) — sets the bar for market timing.
• Cap rate 14.6% 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; 1,244 units permitted in Erie County in 2024 (563 in 5+ unit buildings).
• At $3,419/mo this rent would consume 81% 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 $17k of equity ($1k loan paydown + $16k appreciation (8.1% local appreciation)).
• At projected returns (8.1% appreciation + 3.0% rent growth), your $55k cash investment doubles in ~2 years — after that, you're playing with house money.
• By year 3, paydown + projected appreciation supports a ~$43k 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 ($192k) 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 $75k; list at $195k implies a 160% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1920 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $191,976 (1.5% below list)

Questions for the listing agent

1. Built in 1920 — 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. 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.
5. 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.
6. 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: 1.75% ✓
• Cap rate: 14.63%
• Cash-on-cash: 29.78%
• DSCR: 2.32
• GRM: 4.8

CMA / ARV

• ARV (on-the-fly): $145,152
• Comps found: 8

Show comp detail 8 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
109 Baitz Ave	0.00mi	6/2.0	2,268 (0%)	11mo	$75,000	$33	91
475 Babcock St	0.23mi	5/2.0 (-1)	2,288 (+1%)	12mo	$235,000	$103	73
116 Baitz Ave	0.03mi	6/2.0	2,445 (+8%)	21mo	$185,000	$76	68
138 Scoville Ave	0.10mi	5/2.0 (-1)	2,112 (-7%)	20mo	$128,000	$61	62
23 Matejko St	0.74mi	6/2.0	2,365 (+4%)	4mo	$145,000	$61	55
1038 Clinton St	0.59mi	6/2.0	2,156 (-5%)	18mo	$148,530	$69	50
110 Milton St	0.37mi	6/2.0	2,484 (+10%)	22mo	$160,000	$64	48
574 Howard St	0.67mi	5/2.0 (-1)	2,508 (+11%)	15mo	$90,000	$36	33

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: 43.9%
• Equity multiple: 4.07×
• Total profit: $167,311
• Equity at exit: $148,845

10-year hold

• IRR: 39.3%
• Equity multiple: 8.72×
• Total profit: $421,491
• Equity at exit: $296,198

Cash invested: $54,572 (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 14206

• Home prices YoY: 1.8%
• Active inventory: 169
• Price-to-rent: 14.3×

Monthly cashflow live

• Estimated rent: $3,419 high
• Mortgage (P&I): −$1,022
• Tax est. 1.5%: −$244 /mo · $2,924/yr
• Insurance: −$81
• HOA: −$0
• Vacancy / Maint / Mgmt: −$718
• Net cashflow: $1,354

Break-even live

Break-even rent $1,705

Max offer price $194,900

Occupancy floor 55%

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

Units	Beds	Baths	Est. rent
▸ 3× units	3	1	$3,420
Total (3 units)			$3,419

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: $48,725
• Closing costs: $5,847
• Reserves months: —
• Total cash needed: —

Listing history 20 events

1. 2026-06-18
   days on market $194,900 Active 23 DOM
2. 2026-06-17
   days on market $194,900 Active 22 DOM
3. 2026-06-16
   days on market $194,900 Active 21 DOM
4. 2026-06-15
   days on market $194,900 Active 20 DOM
5. 2026-06-13
   days on market $194,900 Active 18 DOM
6. 2026-06-13
   days on market $194,900 Active 17 DOM
7. 2026-06-10
   days on market $194,900 Active 15 DOM
8. 2026-06-09
   days on market $194,900 Active 14 DOM
9. 2026-06-08
   days on market $194,900 Active 13 DOM
10. 2026-06-07
    days on market $194,900 Active 12 DOM
11. 2026-06-03
    days on market $194,900 Active 8 DOM
12. 2026-06-02
    days on market $194,900 Active 7 DOM
13. 2026-06-01
    days on market $194,900 Active 6 DOM
14. 2026-05-31
    days on market $194,900 Active 5 DOM
15. 2026-05-26
    listed $194,900 Active
16. 2025-08-07
    soldstatus $75,000
17. 2025-07-31
    soldstatus $75,000 Closed 625-char remark

    Show marketing remark (625 chars)

    Attention investors and potential homeowners! Don’t miss out on this spacious 6-bedroom, 2-bath home located in Buffalo’s Lovejoy neighborhood. With over 2,200 sq ft of living space and a detached 2-car garage, this 2.5-story property offers a flexible layout and tons of potential. The home is in need of a full renovation, perfect for those looking to add value through updates. Whether you're planning a flip or designing your future home, this is a fantastic opportunity to unlock the property's full potential. Situated on a quiet residential street with strong rental demand and neighborhood appeal.

18. 2025-06-18
    status Pending 625-char remark

    Show marketing remark (625 chars)

    Attention investors and potential homeowners! Don’t miss out on this spacious 6-bedroom, 2-bath home located in Buffalo’s Lovejoy neighborhood. With over 2,200 sq ft of living space and a detached 2-car garage, this 2.5-story property offers a flexible layout and tons of potential. The home is in need of a full renovation, perfect for those looking to add value through updates. Whether you're planning a flip or designing your future home, this is a fantastic opportunity to unlock the property's full potential. Situated on a quiet residential street with strong rental demand and neighborhood appeal.

19. 2025-06-15
    price $75,000 625-char remark

    Show marketing remark (625 chars)

    Attention investors and potential homeowners! Don’t miss out on this spacious 6-bedroom, 2-bath home located in Buffalo’s Lovejoy neighborhood. With over 2,200 sq ft of living space and a detached 2-car garage, this 2.5-story property offers a flexible layout and tons of potential. The home is in need of a full renovation, perfect for those looking to add value through updates. Whether you're planning a flip or designing your future home, this is a fantastic opportunity to unlock the property's full potential. Situated on a quiet residential street with strong rental demand and neighborhood appeal.

20. 2025-06-13
    listed $45,000 Active 625-char remark

    Show marketing remark (625 chars)

    Attention investors and potential homeowners! Don’t miss out on this spacious 6-bedroom, 2-bath home located in Buffalo’s Lovejoy neighborhood. With over 2,200 sq ft of living space and a detached 2-car garage, this 2.5-story property offers a flexible layout and tons of potential. The home is in need of a full renovation, perfect for those looking to add value through updates. Whether you're planning a flip or designing your future home, this is a fantastic opportunity to unlock the property's full potential. Situated on a quiet residential street with strong rental demand and neighborhood appeal.

ⓘ 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: $41,028
• − Mortgage interest: −$10,917
• − Property taxes: −$2,924
• − Insurance: −$974
• − Repairs & maintenance: −$3,282
• − Management: −$3,282
• − Depreciation: −$5,670
• Taxable income: $13,978
• Est. tax owed @ 24.0%: −$3,355
• After-tax cash flow: $12,894/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

+333.1% since first listed

6 events — show timeline

• 2026-05-26 Listed $194,900 WNYREIS
• 2025-08-07 Sold (Public Records) $75,000 Public Records
• 2025-07-31 Sold (MLS) $75,000 WNYREIS
• 2025-06-18 Pending — WNYREIS
• 2025-06-15 Price Changed $75,000 WNYREIS
• 2025-06-13 Listed $45,000 WNYREIS

Property tax history

+8.0%/yr

Latest (2025): $340 · +116.7% YoY. Source: county tax records.