106 Esser Ave · Buffalo, NY 14207

$89,900

4 bd · 2.0 ba · 1,248 sqft · MultiFamily public records · 108 Days on market

Built 1900 784 sqft lot $72/sqft · 68% below area ↓ 31% since listing

---

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
• ARV discount +7.5/15.0
• Rent growth +4.5/5.0
• Livability +3.9/5.0
• Schools +3.3/10.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Multi-family units

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

Listing remarks MLS

Opportunity knocks at 106 Esser Ave in the heart of Riverside! This duplex is the perfect setup for investors or savvy buyers looking to build equity while generating income. With taxes under $1,000, this property offers incredible affordability and upside potential. It’s an ideal investor special—fix up one side while the other unit is producing income, helping offset renovation costs and maximize returns. A major capital improvement has already been completed with a brand new sewer line, giving you added peace of mind and reducing future expenses. Located in a desirable North Buffalo neighborhood close to parks, shops, and major routes, this property offers strong rental demand and long-term value. Don’t miss this chance to own a value-add duplex in Riverside with built-in income potential and low carrying costs.

Key facts

• Close to parks
• Brand new sewer line
• Major routes

Tags

• BRAND NEW SEWER LINE
• NORTH BUFFALO NEIGHBORHOOD
• CLOSE TO PARKS
• CLOSE TO SHOPS
• MAJOR ROUTES

What this means for you Summary

Snapshot

• This is a 2 × 2-bed/1.0-bath units multifamily listed at $90k.

Deal economics

• At list price, monthly cash flow is $1k ($12k/yr) — positive. Per door: $519/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $90k).
• Recommended offer: $82k (9.0% below list) — sets the bar for market timing.
• Cap rate 20.2% 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: Rents rising fast (+8.2%/yr); 199 active listings in the ZIP; 8 comparable units currently listed for rent nearby; rentals at typical pace (median 25d on market — plan ~3-4 weeks tenant-placement turnaround); lower-income renter base — watch delinquency; 1,244 units permitted in Erie County in 2024 (563 in 5+ unit buildings).
• At $1,990/mo this rent would consume 60% of the median local household income ($40k/yr) (locally 2177% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $622 of loan paydown is wiped out by about $3k of value loss. Plan a longer hold.
• At projected returns (-3.0% appreciation + 8.0% rent growth), your $25k cash investment doubles in ~3 years — after that, you're playing with house money.

Negotiation context

• It's been on market 108 days — a 9% lower offer ($82k) is reasonable based on typical stale-listing flexibility.
• 3 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.

Risks & watch-outs

• Watch-outs: built in 1900 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: major flood risk — expect insurance premiums to compound above CPI over the hold.

Recommended offer $81,809 (9.0% below list)

Questions for the listing agent

1. It's been on market 108 days. Have you received any prior offers? Is the seller open to a 9% 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 1900 — 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. 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?
8. 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.
9. 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.
10. 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: 2.21% ✓
• Cap rate: 20.16%
• Cash-on-cash: 49.53%
• DSCR: 3.20
• GRM: 3.8

CMA / ARV

• ARV (median comp): $283,957
• List price: $89,900
• Delta: -68.34%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 6 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
49 Progressive Ave	0.64mi	3/2.0 (-1)	1,242 (-0%)	6mo	$95,000	$76	60
87 Laird Ave	0.34mi	4/2.0	1,419 (+14%)	7mo	$150,000	$106	55
164 Roswell Ave	0.34mi	3/2.0 (-1)	1,414 (+13%)	7mo	$187,500	$133	51
109 Progressive Ave	0.67mi	4/2.0	1,168 (-6%)	12mo	$105,000	$90	48
41 Riverdale Ave	0.35mi	3/2.0 (-1)	1,415 (+13%)	21mo	$148,256	$105	39
348 Riverside Ave	0.59mi	3/2.0 (-1)	1,134 (-9%)	20mo	$95,000	$84	35

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 · 8.0% rent growth · sell at horizon

5-year hold

• IRR: 52.5%
• Equity multiple: 3.47×
• Total profit: $62,094
• Equity at exit: $13,404

10-year hold

• IRR: 59.6%
• Equity multiple: 8.43×
• Total profit: $187,041
• Equity at exit: $7,773

Cash invested: $25,172 (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 14207

• Home prices YoY: -18.9%
• Rents YoY: 8.2%
• Active inventory: 199
• Price-to-rent: 7.5×

Monthly cashflow live

• Estimated rent: $1,990 medium
• Mortgage (P&I): −$471
• Tax from tax record: −$24 /mo · $291/yr
• Insurance: −$37
• HOA: −$0
• Vacancy / Maint / Mgmt: −$418
• Net cashflow: $1,039

Break-even live

Break-even rent $675

Max offer price $89,900

Occupancy floor 43%

Sensitivity live

Price	-10% $1,090	-5% $1,064	+0% $1,039	+5% $1,013	+10% $988
Rent	-10% $882	-5% $960	+0% $1,039	+5% $1,118	+10% $1,196
Rate	-1.0pp $1,084	-0.5pp $1,062	base $1,039	+0.5pp $1,016	+1.0pp $992

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

Units	Beds	Baths	Est. rent
▸ 2× units	2	1	$1,990
Total (2 units)			$1,990

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: $22,475
• Closing costs: $2,697
• Reserves months: —
• Total cash needed: —

Rent comps 8 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
158 Chadduck Ave Buffalo, NY	4.0	1.0	1200	$1,250	$1.04	24d	1	0.15mi
134 Philadelphia St Buffalo, NY	3.0	1.0	871	$1,100	$1.26	4d	1	0.57mi
118 Rano St Buffalo, NY	3.0	1.0	1050	$1,200	$1.14	22d	1	0.67mi
15 Ontario St Unit 1 Buffalo, NY	3.0	1.0	1000	$1,500	$1.50	2d	1	0.68mi
62 Seabrook St Buffalo, NY	4.0	1.0	1300	$2,000	$1.54	2d	1	0.73mi
480 W Hazeltine Ave Buffalo, NY	3.0	1.0	989	$1,900	$1.92	24d	1	1.00mi
72 Reservation St Unit 2 Buffalo, NY	3.0	1.0	950	$1,150	$1.21	24d	1	1.44mi
62 Germain St Buffalo, NY	3.0	1.0	1320	$1,250	$0.95	24d	1	1.49mi

Listing history 23 events

1. 2026-06-21
   days on market $89,900 Active 108 DOM
2. 2026-06-18
   days on market $89,900 Active 105 DOM
3. 2026-06-17
   days on market $89,900 Active 104 DOM
4. 2026-06-16
   days on market $89,900 Active 103 DOM
5. 2026-06-15
   days on market $89,900 Active 102 DOM
6. 2026-06-13
   days on market $89,900 Active 100 DOM
7. 2026-06-13
   days on market $89,900 Active 99 DOM
8. 2026-06-10
   days on market $89,900 Active 97 DOM
9. 2026-06-09
   days on market $89,900 Active 96 DOM
10. 2026-06-08
    days on market $89,900 Active 95 DOM
11. 2026-06-07
    days on market $89,900 Active 94 DOM
12. 2026-06-03
    days on market $89,900 Active 90 DOM
13. 2026-06-02
    days on market $89,900 Active 89 DOM
14. 2026-06-01
    days on market $89,900 Active 88 DOM
15. 2026-05-31
    days on market $89,900 Active 87 DOM
16. 2026-03-05
    listed $89,900 Active 844-char remark

    Show marketing remark (844 chars)

    Opportunity knocks at 106 Esser Ave in the heart of Riverside! This duplex is the perfect setup for investors or savvy buyers looking to build equity while generating income. With taxes under $1,000, this property offers incredible affordability and upside potential. It’s an ideal investor special—fix up one side while the other unit is producing income, helping offset renovation costs and maximize returns. A major capital improvement has already been completed with a brand new sewer line, giving you added peace of mind and reducing future expenses. Located in a desirable North Buffalo neighborhood close to parks, shops, and major routes, this property offers strong rental demand and long-term value. Don’t miss this chance to own a value-add duplex in Riverside with built-in income potential and low carrying costs.

17. 2025-08-08
    status Pending
18. 2025-07-24
    price $64,900
19. 2025-06-03
    price $84,900
20. 2024-10-28
    listed $99,900 Active
21. 2024-07-26
    historical
22. 2024-01-24
    listed $130,000 Active
23. 2022-01-23
    price $700

ⓘ 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: $291 · $24/mo
• Projected year-2 tax: $905 · $75/mo
• Expected delta: +$614/yr (+$51/mo · 210.7%)

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

Climate risk First Street

• 🌊 Flood 6/10 Major FEMA zone X (unshaded) · 71% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 3/10 Moderate 7 d/yr ≥93°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: $23,880
• − Mortgage interest: −$5,036
• − Property taxes: −$291
• − Insurance: −$450
• − Repairs & maintenance: −$1,910
• − Management: −$1,910
• − Depreciation: −$2,615
• Taxable income: $11,667
• Est. tax owed @ 24.0%: −$2,800
• After-tax cash flow: $9,667/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): 26,327
• Household income: $39,753
• Rent vs Own: 65.0% rent · 35.0% own
• Severe rent burden: 2177.0

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: Highly diverse neighborhood (Simpson 0.74)
• Race & ethnicity: White 40% Hispanic / Latino 23% Black 16% Asian 15% Two or more races 14%
• Hispanic origin (detail): Puerto Rican 18% Dominican 2%
• Common ancestry: Romanian 8% Portuguese 1% Arab 1%
• Foreign-born: 19% · Philippines, Canada, India
• Languages at home: 65% English-only · Spanish 14% Other Asian/Pacific 10% Other Indo-European 5%

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: ▼ -54.42%
• Current HPI: 233.0902
• Rent YoY: ▲ 8.19%
• 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

-30.8% since first listed

8 events — show timeline

• 2026-03-05 Listed $89,900 WNYREIS
• 2025-08-08 Pending — WNYREIS
• 2025-07-24 Price Changed $64,900 WNYREIS
• 2025-06-03 Price Changed $84,900 WNYREIS
• 2024-10-28 Listed $99,900 WNYREIS
• 2024-07-26 Listing Removed — WNYREIS
• 2024-01-24 Listed $130,000 WNYREIS
• 2022-01-23 Price Changed $700 RENT.

Property tax history

+4.6%/yr

Latest (2025): $291 · +0.0% YoY. Source: county tax records.