8 Heussy Ave · Buffalo, NY 14220

$200,000

4 bd · 2.0 ba · 2,144 sqft · MultiFamily public records · 7 Days on market

Built 1925 4,376 sqft lot Est $229k · 13% 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 +30.0/30.0
• ARV discount +13.3/15.0
• DSCR +10.0/10.0
• 1% rule +7.4/10.0
• Rent growth +4.4/5.0
• 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: 1 unit. estimate disagrees with records

Listing remarks MLS

So much potential in this 2/2 double, All windows have been replaced, Brick and Vinyl exterior and the roof was done in 2009. Lots of natural woodwork and old world charm, needs some TLC but can be a Great money maker! Cash or Rehab loan only.

Key facts

• Updated bathrooms
• Updated kitchens
• Original woodwork

Tags

• BRICK AND VINYL EXTERIOR
• UPDATED KITCHENS
• UPDATED BATHROOMS
• VINYL PLANK FLOORING
• ORIGINAL WOODWORK
• FUNCTIONAL UNIT FLOOR PLANS

Property features AI

Finance

• Other: Property configured as two separately metered units (separate gas and electric meters)
• Financial info: Owner pays water; rent includes water; Operating expenses may include professional management and water/sewer

Exterior

• Parking: Concrete parking available with two or more spaces
• Utilities: Public water connected; Sewer connected; Electricity connected (circuit breakers); Cable available; High-speed internet available
• Home design: Two-story multi-family building; Residential 2-unit zoning
• Construction: Brick and vinyl siding exterior; Asphalt architectural shingle roof; Block foundation; Existing (previously built)
• Exterior features: Open porch; Near public transit; Rectangular residential lot (approx. 43 x 100)

Interior

• Kitchen: Unit 2 includes oven/range, refrigerator, microwave; Eat-in kitchens and dining areas with living rooms in both units
• Bedrooms: Two 2-bedroom units
• Flooring: Carpet; Luxury vinyl; Varies by area
• Bathrooms: Two full bathrooms (one in each unit)
• Heating & cooling: Gas forced-air heating
• Interior features: Ceiling fan(s); Natural woodwork; Thermal windows
• Laundry & utility: Washer hookup; Gas water heater

What this means for you Summary

Snapshot

• This is a 4-bed/2.0-bath multifamily listed at $200k.

Deal economics

• At list price, monthly cash flow is $768 ($9k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $200k).
• Cap rate 10.9% 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.
• Zoned schools: International School (math 8% / reading 17%, grade F, #2,048 of 2,108 statewide, top 97%, 981 students, 92% FRL); Hutchinson Central Technical High School (math 96% / reading 32%, grade B-, #807 of 1,100 statewide, top 73%, 1,175 students, 78% FRL).
• Market conditions: Rents rising fast (+7.6%/yr); 138 active listings in the ZIP; 2 comparable units currently listed for rent nearby; 1,244 units permitted in Erie County in 2024 (563 in 5+ unit buildings).
• This rent runs 42% of the median local income ($71k/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 $1k of loan paydown is wiped out by about $6k of value loss. Plan a longer hold.
• At projected returns (-3.0% appreciation + 7.6% rent growth), your $56k cash investment doubles in ~6 years — after that, you're playing with house money.

Negotiation context

• Only 7 days on market — expect competitive offers; lowballing is unlikely to land.
• 2 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 $125k; list at $200k implies a 60% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1925 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: major flood risk — expect insurance premiums to compound above CPI over the hold.

Recommended offer $200,000

Questions for the listing agent

1. Built in 1925 — 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: 1.24% ✓
• Cap rate: 10.90%
• Cash-on-cash: 16.45%
• DSCR: 1.73
• GRM: 6.7

CMA / ARV

• ARV (on-the-fly): $229,408
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
70 Houston St	0.31mi	4/2.0	2,106 (-2%)	11mo	$150,000	$71	74
28 Paul Pl	0.56mi	4/2.0	2,144 (0%)	0mo	$230,000	$107	73
50 Macamley St	0.27mi	4/2.0	2,328 (+9%)	4mo	$145,000	$62	70
39 Trowbridge St	0.48mi	4/2.0	2,157 (+1%)	9mo	$180,000	$83	69
81 Melrose St	0.56mi	4/2.0	2,116 (-1%)	5mo	$264,000	$125	68
889 Tifft St	0.72mi	4/2.0	2,112 (-2%)	4mo	$210,000	$99	61
115 Riverview Pl	0.58mi	4/2.0	2,208 (+3%)	9mo	$182,000	$82	60
89 Melrose St	0.57mi	4/2.0	2,038 (-5%)	7mo	$318,000	$156	60
116 Melrose St	0.57mi	4/2.0	2,001 (-7%)	8mo	$223,000	$111	56
563 Hopkins St	0.37mi	4/2.0	2,448 (+14%)	6mo	$175,000	$71	54
44 Trowbridge St	0.46mi	4/2.0	1,908 (-11%)	15mo	$225,000	$118	48
23 Archer Ave	0.68mi	5/2.0 (+1)	1,840 (-14%)	9mo	$230,000	$125	32

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 · 7.62% rent growth · sell at horizon

5-year hold

• IRR: 12.2%
• Equity multiple: 1.51×
• Total profit: $28,474
• Equity at exit: $29,821

10-year hold

• IRR: 24.3%
• Equity multiple: 3.53×
• Total profit: $141,907
• Equity at exit: $17,292

Cash invested: $56,000 (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 14220

• Home prices YoY: -26.7%
• Rents YoY: 7.6%
• Active inventory: 138
• Price-to-rent: 13.4×

Monthly cashflow live

• Estimated rent: $2,480 high
• Mortgage (P&I): −$1,049
• Tax from tax record: −$59 /mo · $712/yr
• Insurance: −$83
• HOA: −$0
• Vacancy / Maint / Mgmt: −$521
• Net cashflow: $768

Break-even live

Break-even rent $1,508

Max offer price $200,000

Occupancy floor 64%

Sensitivity live

Price	-10% $881	-5% $824	+0% $768	+5% $711	+10% $655
Rent	-10% $572	-5% $670	+0% $768	+5% $866	+10% $964
Rate	-1.0pp $868	-0.5pp $819	base $768	+0.5pp $716	+1.0pp $663

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

Units	Beds	Baths	Est. rent
▸ 2× units	2	2	$2,480
Total (2 units)			$2,480

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: $50,000
• Closing costs: $6,000
• Reserves months: —
• Total cash needed: —

Rent comps 2 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
901 S Park Ave Unit Lower Buffalo, NY	4.0	1.0	1729	$1,600	$0.93	25d	1	1.27mi
181 Willett St Buffalo, NY	3.0	1.0	2704	$1,550	$0.57	3d	1	1.41mi

Listing history 9 events

1. 2026-05-21
   listed $200,000 Active
2. 2018-09-10
   soldstatus $125,000
3. 2017-09-29
   soldstatus $65,000 Closed Sale or Rented 243-char remark

   Show marketing remark (243 chars)

   So much potential in this 2/2 double, All windows have been replaced, Brick and Vinyl exterior and the roof was done in 2009. Lots of natural woodwork and old world charm, needs some TLC but can be a Great money maker! Cash or Rehab loan only.

4. 2017-09-29
   soldstatus $65,000

   Show marketing remark (243 chars)

   So much potential in this 2/2 double, All windows have been replaced, Brick and Vinyl exterior and the roof was done in 2009. Lots of natural woodwork and old world charm, needs some TLC but can be a Great money maker! Cash or Rehab loan only.

5. 2017-07-31
   status Pending Sale 243-char remark

   Show marketing remark (243 chars)

   So much potential in this 2/2 double, All windows have been replaced, Brick and Vinyl exterior and the roof was done in 2009. Lots of natural woodwork and old world charm, needs some TLC but can be a Great money maker! Cash or Rehab loan only.

6. 2017-07-29
   listed $59,900 Active 243-char remark

   Show marketing remark (243 chars)

   So much potential in this 2/2 double, All windows have been replaced, Brick and Vinyl exterior and the roof was done in 2009. Lots of natural woodwork and old world charm, needs some TLC but can be a Great money maker! Cash or Rehab loan only.

7. 2015-08-14
   soldstatus $45,000
8. 2014-11-07
   soldstatus $19,000
9. 2009-05-08
   soldstatus $14,000

ⓘ 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: $712 · $59/mo
• Projected year-2 tax: $2,046 · $170/mo
• Expected delta: +$1,334/yr (+$111/mo · 187.4%)

ⓘ 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) · 74% 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: $29,760
• − Mortgage interest: −$11,203
• − Property taxes: −$712
• − Insurance: −$1,000
• − Repairs & maintenance: −$2,381
• − Management: −$2,381
• − Depreciation: −$5,818
• Taxable income: $6,265
• Est. tax owed @ 24.0%: −$1,504
• After-tax cash flow: $7,709/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): 24,428
• Household income: $70,963
• Rent vs Own: 29.3% rent · 70.7% own
• Severe rent burden: 602.0

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 (76%)
• Race & ethnicity: White 76% Hispanic / Latino 13% Two or more races 6% Black 5% Asian 2%
• Hispanic origin (detail): Puerto Rican 10% Cuban 1%
• Common ancestry: Romanian 16% Lithuanian 1% Subsaharan African 1%
• Foreign-born: 4% · Canada, Jamaica, China
• Languages at home: 90% English-only · Spanish 4% Chinese 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: ▼ -146.29%
• Current HPI: 402.5053
• Rent YoY: ▲ 7.62%
• 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

+1328.6% since first listed

9 events — show timeline

• 2026-05-21 Listed $200,000 WNYREIS
• 2018-09-10 Sold (Public Records) $125,000 Public Records
• 2017-09-29 Sold (Public Records) $65,000 Public Records
• 2017-09-29 Sold (MLS) $65,000 WNYREIS
• 2017-07-31 Pending — WNYREIS
• 2017-07-29 Listed $59,900 WNYREIS
• 2015-08-14 Sold (Public Records) $45,000 Public Records
• 2014-11-07 Sold (Public Records) $19,000 Public Records
• 2009-05-08 Sold (Public Records) $14,000 Public Records

Property tax history

-5.9%/yr

Latest (2025): $712 · +0.0% YoY. Source: county tax records.