553 Lasalle Ave · Buffalo, NY 14215

$199,900

4 bd · 2.0 ba · 1,570 sqft · SingleFamily public records · 177 Days on market

Built 1930 3,210 sqft lot Est $182k · 10% over

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Why this score? — see what drove the D- 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 +14.9/30.0
• DSCR +4.6/10.0
• 1% rule +4.1/10.0
• Livability +3.9/5.0
• Schools +3.3/10.0
• ARV discount +3.1/15.0
• Rent growth +2.7/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Recently updated home in the East Side of Buffalo. Attractively renovated duplex Conveniently located near shops, dining, and schools. Move-in ready! Apartments both feature bonus rooms that can be used for office space or whatever you desire.

Key facts

• Office space
• Renovated duplex
• Bonus rooms

Tags

• UPDATED HOME
• RENOVATED DUPLEX
• BONUS ROOMS
• OFFICE SPACE
• CONVENIENTLY LOCATED

What this means for you Summary

Snapshot

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

Deal economics

• At list price, monthly cash flow is $59 ($709/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 $182k (8.8% below list).
• Recommended offer: $176k (12.0% 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.
• 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 flat; 239 active listings in the ZIP; 16 comparable units currently listed for rent nearby; rentals at typical pace (median 17d 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 $1,823/mo this rent would consume 49% of the median local household income ($45k/yr) (locally 2873% 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 $1k of loan paydown is wiped out by about $6k of value loss. Plan a longer hold.

Negotiation context

• It's been on market 177 days — a 12% lower offer ($176k) is reasonable based on typical stale-listing flexibility.
• Current owner paid $30k; list at $200k implies a 566% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1930 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $175,912 (12.0% below list)

Questions for the listing agent

1. It's been on market 177 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Built in 1930 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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?
6. The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?
7. 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.
8. 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.
9. 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: 0.91% ✗
• Cap rate: 6.65%
• Cash-on-cash: 1.27%
• DSCR: 1.06
• GRM: 9.1

CMA / ARV

• ARV (on-the-fly): $182,120
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
347 Lisbon Ave	0.26mi	3/1.5 (-1)	1,558 (-1%)	3mo	$180,000	$116	77
243 Berkshire Ave	0.38mi	4/2.0	1,617 (+3%)	1mo	$220,000	$136	76
307 Berkshire Ave	0.31mi	4/1.0	1,623 (+3%)	4mo	$182,000	$112	72
176 Lasalle Ave	0.63mi	4/2.0	1,601 (+2%)	2mo	$270,000	$169	66
14 Thornton Ave	0.44mi	4/2.0	1,445 (-8%)	4mo	$239,900	$166	62
141 Millicent Ave	0.70mi	4/2.0	1,620 (+3%)	2mo	$142,000	$88	60
84 Elmer Ave	0.61mi	3/1.0 (-1)	1,510 (-4%)	1mo	$125,000	$83	55
461 Stockbridge Ave	0.21mi	3/1.0 (-1)	1,336 (-15%)	4mo	$96,500	$72	53
14 Roosevelt Ave	0.75mi	5/2.0 (+1)	1,638 (+4%)	3mo	$185,000	$113	51
145 Highgate Ave	0.60mi	4/2.0	1,771 (+13%)	0mo	$218,000	$123	50
29 Allendale Rd	0.75mi	3/1.5 (-1)	1,364 (-13%)	0mo	$155,000	$114	36
213 Phyllis Ave	0.70mi	3/1.5 (-1)	1,341 (-15%)	5mo	$217,500	$162	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 · 0.67% rent growth · sell at horizon

5-year hold

• IRR: -16.9%
• Equity multiple: 0.41×
• Total profit: $-32,781
• Equity at exit: $29,806

10-year hold

• IRR: -13.8%
• Equity multiple: 0.29×
• Total profit: $-39,950
• Equity at exit: $17,284

Cash invested: $55,972 (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 14215

• Home prices YoY: -30.0%
• Rents YoY: 0.7%
• Active inventory: 239
• Price-to-rent: 9.1×

Monthly cashflow live

• Estimated rent: $1,823 high
• Mortgage (P&I): −$1,048
• Tax est. 1.5%: −$250 /mo · $2,998/yr
• Insurance: −$83
• HOA: −$0
• Vacancy / Maint / Mgmt: −$383
• Net cashflow: $59

Break-even live

Break-even rent $1,749

Max offer price $199,900

Occupancy floor 92%

Sensitivity live

Price	-10% $197	-5% $128	+0% $59	+5% $-10	+10% $-79
Rent	-10% $-85	-5% $-13	+0% $59	+5% $131	+10% $203
Rate	-1.0pp $160	-0.5pp $110	base $59	+0.5pp $7	+1.0pp $-45

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: $49,975
• Closing costs: $5,997
• Reserves months: —
• Total cash needed: —

Rent comps 16 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
189 Westminster Ave Buffalo, NY	4.0	1.5	1065	$1,595	$1.50	12d	1	0.35mi
265 Lisbon Ave Unit 2 Buffalo, NY	3.0	1.0	1200	$1,400	$1.17	45d	1	0.38mi
263 Minnesota Ave Unit Upper Buffalo, NY	3.0	1.0	1242	$1,500	$1.21	16d	1	0.40mi
222 Lisbon Ave Buffalo, NY	4.0	1.0	1300	$1,400	$1.08	25d	1	0.47mi
222 Lisbon Ave Unit Upper Buffalo, NY	3.0	1.0	1400	$1,400	$1.00	45d	1	0.47mi
175 Lisbon Ave Buffalo, NY	5.0	2.0	2000	$2,500	$1.25	16d	1	0.54mi
85 Highgate Ave Buffalo, NY	5.0	2.0	2193	$3,750	$1.71	16d	1	0.69mi
65 Northrup Pl Buffalo, NY	5.0	2.0	1467	$2,500	$1.70	16d	1	0.69mi
89 Lasalle Ave Buffalo, NY	1.0–4.0	1.0–4.0	1024	$2,997	$2.93	3d	10	0.81mi
25 Parkridge Ave Buffalo, NY	3.0	1.0	1914	$1,350	$0.71	16d	1	0.81mi
60 Englewood Ave Buffalo, NY	4.0	1.0	1400	$1,650	$1.18	3d	1	0.93mi
63 Montrose Ave Buffalo, NY	4.0	1.0	2240	$2,000	$0.89	3d	1	1.07mi
91 Springville Ave Buffalo, NY	4.0	2.0	1660	$2,350	$1.42	25d	1	1.14mi
74 Dorris Ave Buffalo, NY	3.0	1.0	1200	$1,450	$1.21	45d	1	1.29mi
44 Aurora Dr Buffalo, NY	3.0	1.0	1272	$3,300	$2.59	3d	1	1.33mi
163 Carmel Rd Buffalo, NY	3.0	1.0	1400	$1,800	$1.29	5d	1	1.38mi

Listing history 3 events

1. 2026-04-10
   status Pending
2. 2025-10-15
   listed $199,900 Active
3. 2017-04-18
   soldstatus $30,000

ⓘ 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 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: $21,882
• − Mortgage interest: −$11,198
• − Property taxes: −$2,998
• − Insurance: −$1,000
• − Repairs & maintenance: −$1,751
• − Management: −$1,751
• − Depreciation: −$5,815
• Taxable loss: −$2,630
• Est. tax savings @ 24.0%: +$631
• After-tax cash flow: $1,340/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: 55,470
• Metro: Buffalo-Cheektowaga, NY
• Population (ZIP): 42,524
• Household income: $44,955
• Rent vs Own: 50.0% rent · 50.0% own
• Severe rent burden: 2873.0

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 Black (67%)
• Race & ethnicity: Black 67% White 15% Asian 7% Hispanic / Latino 6% Two or more races 6%
• Hispanic origin (detail): Puerto Rican 4%
• Common ancestry: Romanian 4% Lithuanian 1% Italian 1%
• Foreign-born: 9% · Canada, China
• Languages at home: 88% English-only · Other Indo-European 4% 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: ▼ -126.29%
• Current HPI: 295.2966
• Rent YoY: ▲ 0.67%
• 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

+566.3% since first listed

3 events — show timeline

• 2026-04-10 Pending — WNYREIS
• 2025-10-15 Listed $199,900 WNYREIS
• 2017-04-18 Sold (Public Records) $30,000 Public Records

Property tax history

+2.3%/yr

Latest (2025): $286 · +0.0% YoY. Source: county tax records.