355 Bristol St · Buffalo, NY 14206

$99,900

6 bd · 2.0 ba · 1,976 sqft · MultiFamily public records · 64 Days on market

Built 1890 3,049 sqft lot $51/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 +30.0/30.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• Appreciation +9.0/10.0
• ARV discount +7.5/15.0
• Livability +3.9/5.0
• Schools +3.3/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0

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

Welcome to 355 Bristol Street, Buffalo, NY 14206 – a charming Multi-family home located in a desirable neighborhood. The lower level features 3 spacious bedrooms, a full bathroom, a bright living room, dining area, and a functional kitchen. The upper level offers 3 bedrooms, a full bathroom. So this Spacious Full-Brick 6BR / 2Bath is Ideal for Owner-Occupier or Investor as it is in Quiet Neighborhood and close to all the conveniences.

Key facts

• 3,049 sq ft lot
• Built 1890
• Listed 64 days

What this means for you Summary

Snapshot

• This is a 6-bed/2.0-bath multifamily listed at $100k.

Deal economics

• At list price, monthly cash flow is $644 ($8k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $100k).
• Recommended offer: $94k (6.0% below list) — sets the bar for market timing.
• Cap rate 14.0% 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: 169 active listings in the ZIP; 1 comparable units currently listed for rent nearby; 1,244 units permitted in Erie County in 2024 (563 in 5+ unit buildings).
• This rent runs 40% 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 $9k of equity ($691 loan paydown + $8k appreciation (8.1% local appreciation)).
• At projected returns (8.1% appreciation + 3.0% rent growth), your $28k cash investment doubles in ~2 years — after that, you're playing with house money.
• By year 4, paydown + projected appreciation supports a ~$30k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 64 days — a 6% lower offer ($94k) is reasonable based on typical stale-listing flexibility.
• 5 sale attempts since 9y ago; this cycle's ask has dropped $20k (17%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $41k; list at $100k implies a 144% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1890 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $93,906 (6.0% below list)

Questions for the listing agent

1. It's been on market 64 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
2. Built in 1890 — 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. 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.
7. 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.
8. 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: 1.69% ✓
• Cap rate: 14.03%
• Cash-on-cash: 27.62%
• DSCR: 2.23
• GRM: 4.9

CMA / ARV

• ARV (median comp): $209,822
• List price: $99,900
• Delta: -52.39%
• 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
202 Metcalfe St	0.48mi	5/2.0 (-1)	1,960 (-1%)	10mo	$215,000	$110	63
910 Clinton St	0.15mi	6/2.0	2,208 (+12%)	14mo	$70,000	$32	62
80 Fillmore Ave	0.30mi	5/2.0 (-1)	1,813 (-8%)	17mo	$132,000	$73	53
1038 Clinton St	0.39mi	6/2.0	2,156 (+9%)	18mo	$148,530	$69	52
220 Metcalfe St	0.49mi	5/2.0 (-1)	1,896 (-4%)	18mo	$70,000	$37	50
578 Howard St	0.59mi	5/3.0 (-1)	1,722 (-13%)	21mo	$65,000	$38	24

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: 42.1%
• Equity multiple: 3.95×
• Total profit: $82,554
• Equity at exit: $76,294

10-year hold

• IRR: 37.6%
• Equity multiple: 8.48×
• Total profit: $209,124
• Equity at exit: $151,823

Cash invested: $27,972 (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 14206

• Home prices YoY: 1.8%
• Active inventory: 169
• Price-to-rent: 4.9×

Monthly cashflow live

• Estimated rent: $1,689 medium
• Mortgage (P&I): −$524
• Tax est. 1.5%: −$125 /mo · $1,498/yr
• Insurance: −$42
• HOA: −$0
• Vacancy / Maint / Mgmt: −$355
• Net cashflow: $644

Break-even live

Break-even rent $874

Max offer price $99,900

Occupancy floor 57%

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: $24,975
• Closing costs: $2,997
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
518 Wilson St Buffalo, NY	5.0	1.5	1848	$1,500	$0.81	24d	1	1.27mi

Listing history 28 events

1. 2026-06-18
   days on market $99,900 Active 64 DOM
2. 2026-06-17
   days on market $99,900 Active 63 DOM
3. 2026-06-16
   days on market $99,900 Active 62 DOM
4. 2026-06-15
   days on market $99,900 Active 61 DOM
5. 2026-06-13
   days on market $99,900 Active 59 DOM
6. 2026-06-13
   days on market $99,900 Active 58 DOM
7. 2026-06-10
   days on market $99,900 Active 56 DOM
8. 2026-06-09
   days on market $99,900 Active 55 DOM
9. 2026-06-08
   days on market $99,900 Active 54 DOM
10. 2026-06-07
    days on market $99,900 Active 53 DOM
11. 2026-06-03
    days on market $99,900 Active 49 DOM
12. 2026-06-02
    days on market $99,900 Active 48 DOM
13. 2026-06-01
    days on market $99,900 Active 47 DOM
14. 2026-05-31
    days on market $99,900 Active 46 DOM
15. 2026-04-15
    listed $119,900 Active 446-char remark

    Show marketing remark (446 chars)

    Welcome to 355 Bristol Street, Buffalo, NY 14206 – a charming Multi-family home located in a desirable neighborhood. The lower level features 3 spacious bedrooms, a full bathroom, a bright living room, dining area, and a functional kitchen. The upper level offers 3 bedrooms, a full bathroom. So this Spacious Full-Brick 6BR / 2Bath is Ideal for Owner-Occupier or Investor as it is in Quiet Neighborhood and close to all the conveniences.

16. 2025-11-05
    historical
17. 2025-09-20
    price $144,500
18. 2025-08-05
    listed $159,900 Active
19. 2020-01-02
    soldstatus $41,000 Closed Sale or Rented
20. 2019-09-30
    status Under Contract- Do Not Show
21. 2019-09-24
    listed $50,000 Active
22. 2019-07-08
    historical
23. 2019-06-21
    listed $60,000 Active
24. 2018-01-26
    historical
25. 2017-12-01
    price $59,900
26. 2017-07-28
    price $63,000
27. 2017-07-26
    listed $68,000 Active
28. 2009-12-30
    soldstatus $35,000

ⓘ 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: $20,266
• − Mortgage interest: −$5,596
• − Property taxes: −$1,498
• − Insurance: −$500
• − Repairs & maintenance: −$1,621
• − Management: −$1,621
• − Depreciation: −$2,906
• Taxable income: $6,523
• Est. tax owed @ 24.0%: −$1,566
• After-tax cash flow: $6,160/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

+242.6% since first listed

14 events — show timeline

• 2026-04-15 Listed $119,900 WNYREIS
• 2025-11-05 Listing Removed — WNYREIS
• 2025-09-20 Price Changed $144,500 WNYREIS
• 2025-08-05 Listed $159,900 WNYREIS
• 2020-01-02 Sold (MLS) $41,000 WNYREIS
• 2019-09-30 Pending — WNYREIS
• 2019-09-24 Listed $50,000 WNYREIS
• 2019-07-08 Listing Removed — WNYREIS
• 2019-06-21 Listed $60,000 WNYREIS
• 2018-01-26 Listing Removed — WNYREIS
• 2017-12-01 Price Changed $59,900 WNYREIS
• 2017-07-28 Price Changed $63,000 WNYREIS
• 2017-07-26 Listed $68,000 WNYREIS
• 2009-12-30 Sold (Public Records) $35,000 Public Records

Property tax history

+8.1%/yr

Latest (2025): $191 · +0.0% YoY. Source: county tax records.