392 Buffalo St · Gowanda, NY 14070

$78,000

3 bd · 1.0 ba · 1,078 sqft · SingleFamily public records · 44 Days on market

Built 1876 0.37 ac lot $72/sqft · 52% below area

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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 +27.3/30.0
• Appreciation +10.0/10.0
• DSCR +9.5/10.0
• 1% rule +7.7/10.0
• ARV discount +7.5/15.0
• Schools +3.5/10.0
• Livability +3.5/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0

Listing remarks

Welcome to 392 Buffalo Street in the heart of Gowanda! This home is full of character and offers a fantastic opportunity for buyers looking to build equity and make a space truly their own. This property is ready for your personal touch and vision. Whether you're searching for your first home, an investment property, or a project to customize to your style, this home presents incredible value at an affordable price point. With a little work and creativity, it has the potential to really shine. Don’t miss your chance to turn this house into something special, opportunities like this don’t come around often!

Key facts

• 0.37 acre lot
• Built 1876
• Listed 44 days

Property features AI

Exterior

• Parking: No garage
• Utilities: Public water connected; Sewer connected
• Home design: Two-story existing home
• Construction: Vinyl siding; Stone foundation
• Exterior features: Gravel driveway; Rectangular lot (approx. 0.3714 acres, dimensions 45 x 359)

Interior

• Kitchen: Gas oven; Gas range; Microwave; Refrigerator
• Bedrooms: Total rooms: 6; Laundry room on upper level
• Flooring: Carpet; Hardwood; Vinyl; Varies
• Bathrooms: 1 full bathroom
• Heating & cooling: Gas forced-air heating
• Interior features: Eat-in kitchen; Separate formal living room; Full basement
• Laundry & utility: Upper-level laundry; Gas water heater

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $78k.

Deal economics

• At list price, monthly cash flow is $226 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($989 rent vs $78k).
• Recommended offer: $76k (3.0% 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 $8k of equity ($539 loan paydown + $8k appreciation (10.0% local appreciation)).
• At projected returns (10.0% appreciation + 3.0% rent growth), your $22k cash investment doubles in ~2 years — after that, you're playing with house money.
• By year 5, paydown + projected appreciation supports a ~$39k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 44 days — a 3% lower offer ($76k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: built in 1876 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $75,660 (3.0% below list)

Questions for the listing agent

1. It's been on market 44 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. Built in 1876 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
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 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: 1.27% ✓
• Cap rate: 9.78%
• Cash-on-cash: 12.44%
• DSCR: 1.55
• GRM: 6.6

CMA / ARV

• ARV (median comp): $162,496
• List price: $78,000
• Delta: -52.00%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 5 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
25 Allen St	0.10mi	3/1.0	1,040 (-4%)	2mo	$138,000	$133	88
17 Bader Ave	0.30mi	2/1.0 (-1)	1,044 (-3%)	4mo	$118,000	$113	73
170 Seneca St	0.28mi	3/1.0	1,150 (+7%)	8mo	$191,000	$166	69
13 Caroline Rd	0.16mi	2/1.0 (-1)	960 (-11%)	18mo	$130,000	$135	54
37 Union St	0.48mi	2/1.0 (-1)	944 (-12%)	21mo	$75,000	$79	35

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

Projected returns pro-forma

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

5-year hold

• IRR: 33.4%
• Equity multiple: 3.61×
• Total profit: $56,927
• Equity at exit: $70,269

10-year hold

• IRR: 28.8%
• Equity multiple: 8.16×
• Total profit: $156,349
• Equity at exit: $151,537

Cash invested: $21,840 (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: 6.6×

Monthly cashflow live

• Estimated rent: $989 medium
• Mortgage (P&I): −$409
• Tax from tax record: −$113 /mo · $1,360/yr
• Insurance: −$32
• HOA: −$0
• Vacancy / Maint / Mgmt: −$208
• Net cashflow: $226

Break-even live

Break-even rent $702

Max offer price $78,000

Occupancy floor 72%

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: $19,500
• Closing costs: $2,340
• Reserves months: —
• Total cash needed: —

Listing history 10 events

1. 2026-06-12
   days on market $78,000 Active 44 DOM
2. 2026-06-09
   days on market $78,000 Active 41 DOM
3. 2026-06-08
   days on market $78,000 Active 40 DOM
4. 2026-06-07
   days on market $78,000 Active 39 DOM
5. 2026-06-07
   days on market $78,000 Active 38 DOM
6. 2026-06-04
   days on market $78,000 Active 35 DOM
7. 2026-06-02
   days on market $78,000 Active 34 DOM
8. 2026-06-01
   days on market $78,000 Active 33 DOM
9. 2026-05-31
   days on market $78,000 Active 32 DOM
10. 2026-04-29
    listed $78,000 Active 625-char remark

ⓘ 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: $1,360 · $113/mo
• Projected year-2 tax: $1,360 · $113/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 2/10 Low
• 🌡 Heat 2/10 Low 7 d/yr ≥93°F today · 16 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: $11,867
• − Mortgage interest: −$4,369
• − Property taxes: −$1,360
• − Insurance: −$390
• − Repairs & maintenance: −$949
• − Management: −$949
• − Depreciation: −$2,269
• Taxable income: $1,581
• Est. tax owed @ 24.0%: −$379
• After-tax cash flow: $2,338/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

1 event — show timeline

• 2026-04-29 Listed $78,000 WNYREIS

Property tax history

+2.1%/yr

Latest (2025): $1,360 · +8.1% YoY. Source: county tax records.