23 Gold St · Buffalo, NY 14206

$140,000

3 bd · 1.0 ba · 1,060 sqft · SingleFamily public records · 58 Days on market

Built 1900 4,020 sqft lot $132/sqft · 8% below area Est $152k · 8% under

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Why this score? — see what drove the C+ 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 +18.3/30.0
• ARV discount +11.2/15.0
• Appreciation +9.0/10.0
• DSCR +5.7/10.0
• 1% rule +4.9/10.0
• Livability +3.9/5.0
• Schools +3.3/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0

Listing remarks MLS

Welcome to 23 Gold Street. This 3 bedroom, 1 bath property features all bedrooms conveniently located on the first floor. The home includes a spacious eat-in kitchen, along with a full bathroom and a dedicated laundry area. Whether you're a first-time buyer, looking to downsize, or seeking a simple and efficient floor plan, this home offers great potential. Located near shopping, dining, and near downtown.

Key facts

• Near dining
• Near shopping
• Near downtown

Tags

• FIRST FLOOR
• SPACIOUS EAT-IN KITCHEN
• DEDICATED LAUNDRY AREA
• NEAR SHOPPING
• NEAR DINING
• NEAR DOWNTOWN

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $140k.

Deal economics

• At list price, monthly cash flow is $128 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $139k (0.9% below list).
• Recommended offer: $136k (3.0% below list) — sets the bar for market timing.

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; 3 comparable units currently listed for rent nearby; rentals at typical pace (median 25d on market — plan ~3-4 weeks tenant-placement turnaround); 1,244 units permitted in Erie County in 2024 (563 in 5+ unit buildings).
• This rent runs 33% of the median local income ($50k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Forward outlook

• In year one you build about $12k of equity ($968 loan paydown + $11k appreciation (8.1% local appreciation)).
• At projected returns (8.1% appreciation + 3.0% rent growth), your $39k cash investment doubles in ~3 years — after that, you're playing with house money.
• By year 3, paydown + projected appreciation supports a ~$31k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 58 days — a 3% lower offer ($136k) is reasonable based on typical stale-listing flexibility.
• Current owner paid $51k; list at $140k implies a 175% gain — meaningful room to come down on a strong offer.

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 $135,800 (3.0% below list)

Questions for the listing agent

1. It's been on market 58 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 1900 — 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. 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?
5. 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.
6. 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.
7. 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: 0.99% ✗
• Cap rate: 7.39%
• Cash-on-cash: 3.92%
• DSCR: 1.17
• GRM: 8.4

CMA / ARV

• ARV (median comp): $152,373
• List price: $140,000
• Delta: -8.12%
• Verdict: FAIR
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
67 Gold St	0.08mi	3/2.0	1,183 (+12%)	8mo	$103,500	$87	66
29 Bogardus St	0.47mi	3/1.0	1,092 (+3%)	10mo	$150,000	$137	64
302 N Pleasant Pkwy	0.46mi	3/1.0	1,000 (-6%)	7mo	$185,000	$185	63
74 Vanderbilt St	0.51mi	3/1.0	1,136 (+7%)	3mo	$105,000	$92	62
379 N Ogden St Unit E	0.73mi	3/1.0	1,083 (+2%)	3mo	$160,000	$148	60
105 Regent St	0.48mi	3/2.0	1,138 (+7%)	6mo	$110,000	$97	56
396 Weimar St	0.70mi	3/1.0	1,038 (-2%)	10mo	$205,000	$197	56
275 N Willowlawn Pkwy	0.57mi	3/1.0	948 (-11%)	2mo	$215,000	$227	54
324 Ideal St	0.59mi	4/2.0 (+1)	1,092 (+3%)	6mo	$195,000	$179	53
391 Greene St	0.74mi	3/1.0	1,144 (+8%)	2mo	$200,000	$175	51
405 Weimar St	0.71mi	3/1.0	1,188 (+12%)	4mo	$197,500	$166	43
241 Shanley St	0.54mi	3/1.0	1,216 (+15%)	9mo	$184,000	$151	42

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: 23.1%
• Equity multiple: 2.69×
• Total profit: $66,369
• Equity at exit: $106,918

10-year hold

• IRR: 21.1%
• Equity multiple: 5.76×
• Total profit: $186,567
• Equity at exit: $212,764

Cash invested: $39,200 (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: 8.4×

Monthly cashflow live

• Estimated rent: $1,387 medium
• Mortgage (P&I): −$734
• Tax est. 1.5%: −$175 /mo · $2,100/yr
• Insurance: −$58
• HOA: −$0
• Vacancy / Maint / Mgmt: −$291
• Net cashflow: $128

Break-even live

Break-even rent $1,225

Max offer price $140,000

Occupancy floor 86%

Sensitivity live

Price	-10% $225	-5% $176	+0% $128	+5% $80	+10% $31
Rent	-10% $18	-5% $73	+0% $128	+5% $183	+10% $238
Rate	-1.0pp $199	-0.5pp $164	base $128	+0.5pp $92	+1.0pp $55

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: $35,000
• Closing costs: $4,200
• Reserves months: —
• Total cash needed: —

Rent comps 3 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1150 Bailey Ave Buffalo, NY	4.0	1.5	1100	$1,200	$1.09	24d	1	0.49mi
1777 Broadway Unit 2 Buffalo, NY	3.0	1.0	1300	$1,200	$0.92	44d	1	0.88mi
14 Rutland Ave Buffalo, NY	4.0	1.0	1430	$2,200	$1.54	11d	1	1.21mi

Listing history 17 events

1. 2026-06-18
   days on market $140,000 Active 58 DOM
2. 2026-06-17
   days on market $140,000 Active 57 DOM
3. 2026-06-16
   days on market $140,000 Active 56 DOM
4. 2026-06-15
   days on market $140,000 Active 55 DOM
5. 2026-06-13
   days on market $140,000 Active 53 DOM
6. 2026-06-13
   days on market $140,000 Active 52 DOM
7. 2026-06-10
   days on market $140,000 Active 50 DOM
8. 2026-06-09
   days on market $140,000 Active 49 DOM
9. 2026-06-08
   days on market $140,000 Active 48 DOM
10. 2026-06-07
    days on market $140,000 Active 47 DOM
11. 2026-06-03
    days on market $140,000 Active 43 DOM
12. 2026-06-02
    days on market $140,000 Active 42 DOM
13. 2026-06-01
    days on market $140,000 Active 41 DOM
14. 2026-05-31
    days on market $140,000 Active 40 DOM
15. 2026-05-11
    price $145,000 409-char remark

    Show marketing remark (409 chars)

    Welcome to 23 Gold Street. This 3 bedroom, 1 bath property features all bedrooms conveniently located on the first floor. The home includes a spacious eat-in kitchen, along with a full bathroom and a dedicated laundry area. Whether you're a first-time buyer, looking to downsize, or seeking a simple and efficient floor plan, this home offers great potential. Located near shopping, dining, and near downtown.

16. 2026-04-20
    listed $150,000 Active 409-char remark

    Show marketing remark (409 chars)

    Welcome to 23 Gold Street. This 3 bedroom, 1 bath property features all bedrooms conveniently located on the first floor. The home includes a spacious eat-in kitchen, along with a full bathroom and a dedicated laundry area. Whether you're a first-time buyer, looking to downsize, or seeking a simple and efficient floor plan, this home offers great potential. Located near shopping, dining, and near downtown.

17. 2021-10-12
    soldstatus $51,000

ⓘ 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 6/10 Major FEMA zone X (unshaded) · 52% 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: $16,641
• − Mortgage interest: −$7,842
• − Property taxes: −$2,100
• − Insurance: −$700
• − Repairs & maintenance: −$1,331
• − Management: −$1,331
• − Depreciation: −$4,073
• Taxable loss: −$737
• Est. tax savings @ 24.0%: +$177
• After-tax cash flow: $1,713/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

+184.3% since first listed

3 events — show timeline

• 2026-05-11 Price Changed $145,000 WNYREIS
• 2026-04-20 Listed $150,000 WNYREIS
• 2021-10-12 Sold (Public Records) $51,000 Public Records

Property tax history

-0.4%/yr

Latest (2025): $219 · +0.0% YoY. Source: county tax records.