65 California St · Buffalo, NY 14213

$109,900

3 bd · 1.0 ba · 1,410 sqft · SingleFamily public records · 9 Days on market

Built 1910 2,750 sqft lot Est $180k · 39% under

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Why this score? — see what drove the A 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 +15.0/15.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• Appreciation +8.8/10.0
• Livability +3.9/5.0
• Schools +3.3/10.0
• Condition / age +2.5/5.0
• Rent growth +2.4/5.0

Listing remarks

Major mechanical updates have already been completed, including a newer boiler system, hot water tank, and updated electric panel. An Excellent opportunity for an owner-occupant or investor alike. Please note: The property is being sold “as-is, ” and contents from the previous owner remain inside.

Key facts

• Hot water tank
• Newer boiler system
• 2,750 sq ft lot

Tags

• NEWER BOILER SYSTEM
• HOT WATER TANK
• UPDATED ELECTRIC PANEL

Property features AI

Exterior

• Parking: Detached garage; 2-car garage
• Utilities: Public water connected; Sewer connected
• Home design: 2-story existing structure; Resale property
• Construction: Stone foundation; See remarks for construction details
• Exterior features: Stamped concrete driveway; Rectangular residential lot; City street frontage; Lot dimensions approximately 25 x 110

Interior

• Bathrooms: One full bathroom; One half bathroom; One main-level bathroom
• Heating & cooling: Electric heating; Gas heating; Hot water heating
• Interior features: Other interior features (see remarks)
• Laundry & utility: Gas water heater

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $110k.

Deal economics

• At list price, monthly cash flow is $666 ($8k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $110k).
• Cap rate 13.6% 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: Rents soft (-0.5%/yr); 138 active listings in the ZIP; 40 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 38% of the median local income ($54k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Forward outlook

• In year one you build about $9k of equity ($760 loan paydown + $8k appreciation (7.5% local appreciation)).
• At projected returns (7.5% appreciation + 0.0% rent growth), your $31k cash investment doubles in ~2 years — after that, you're playing with house money.
• By year 4, paydown + projected appreciation supports a ~$31k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• Only 9 days on market — expect competitive offers; lowballing is unlikely to land.
• Current owner paid $45k; list at $110k implies a 144% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1910 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $109,900

Questions for the listing agent

1. Built in 1910 — 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 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: 1.54% ✓
• Cap rate: 13.57%
• Cash-on-cash: 25.98%
• DSCR: 2.16
• GRM: 5.4

CMA / ARV

• ARV (on-the-fly): $180,480
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
119 Albany St	0.12mi	3/1.0	1,408 (-0%)	8mo	$180,000	$128	88
855 West Ave	0.12mi	3/1.5	1,432 (+2%)	3mo	$115,000	$80	87
187 Herkimer St	0.33mi	3/1.5	1,425 (+1%)	4mo	$105,000	$74	78
49 Gelston St	0.27mi	3/1.0	1,296 (-8%)	5mo	$139,000	$107	70
32 Lafayette Ave	0.49mi	3/1.5	1,390 (-1%)	8mo	$105,000	$76	66
225 Plymouth Ave	0.73mi	3/2.0	1,404 (-0%)	2mo	$275,000	$196	59
19 Lawrence Pl	0.29mi	2/1.5 (-1)	1,242 (-12%)	0mo	$365,000	$294	59
84 Brayton St	0.44mi	3/1.0	1,262 (-10%)	4mo	$215,000	$170	59
192 Congress St	0.69mi	3/1.0	1,505 (+7%)	3mo	$155,000	$103	54
373 Rhode Island St	0.44mi	3/1.5	1,252 (-11%)	8mo	$370,000	$296	52
9 Congress St	0.36mi	4/1.0 (+1)	1,200 (-15%)	8mo	$130,000	$108	47
1193 West Ave	0.65mi	3/1.0	1,254 (-11%)	8mo	$240,000	$191	44

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

Projected returns pro-forma

7.51% appreciation · 0.0% rent growth · sell at horizon

5-year hold

• IRR: 38.1%
• Equity multiple: 3.58×
• Total profit: $79,312
• Equity at exit: $79,872

10-year hold

• IRR: 33.0%
• Equity multiple: 7.16×
• Total profit: $189,422
• Equity at exit: $155,211

Cash invested: $30,772 (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 14213

• Home prices YoY: 1.7%
• Rents YoY: -0.5%
• Active inventory: 138
• Price-to-rent: 5.4×

Monthly cashflow live

• Estimated rent: $1,692 high
• Mortgage (P&I): −$576
• Tax from tax record: −$48 /mo · $578/yr
• Insurance: −$46
• HOA: −$0
• Vacancy / Maint / Mgmt: −$355
• Net cashflow: $666

Break-even live

Break-even rent $848

Max offer price $109,900

Occupancy floor 56%

Sensitivity live

Price	-10% $728	-5% $697	+0% $666	+5% $635	+10% $604
Rent	-10% $533	-5% $599	+0% $666	+5% $733	+10% $800
Rate	-1.0pp $722	-0.5pp $694	base $666	+0.5pp $638	+1.0pp $609

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: $27,475
• Closing costs: $3,297
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
67 Herkimer St Buffalo, NY	3.0	1.0	1000	$1,300	$1.30	15d	1	0.15mi
310 Hampshire St Apt 3 Buffalo, NY	3.0	1.0	1200	$1,500	$1.25	45d	1	0.23mi
375 Hampshire St Buffalo, NY	3.0	1.0	1200	$1,100	$0.92	45d	1	0.35mi
196 Auburn Ave Buffalo, NY	3.0	1.0	1000	$1,300	$1.30	45d	1	0.40mi
318 14th St Buffalo, NY	2.0	1.0	1619	$1,300	$0.80	12d	1	0.40mi
411 W Ferry St Buffalo, NY	2.0	1.0	900	$1,100	$1.22	15d	1	0.46mi
460 Rhode Island St Buffalo, NY	2.0	1.0	1089	$1,500	$1.38	15d	1	0.52mi
257 Lafayette Ave Apt 319 Buffalo, NY	2.0	1.0	900	$1,395	$1.55	25d	1	0.58mi
257 Lafayette Ave Unit 317 Buffalo, NY	2.0	1.0	897	$1,400	$1.56	25d	1	0.58mi
161 16th St Buffalo, NY	3.0	1.5	1500	$2,000	$1.33	25d	1	0.58mi
311 Herkimer St #1 Buffalo, NY	3.0	1.0	1272	$1,400	$1.10	15d	1	0.59mi
1360 Niagara St Buffalo, NY	1.0–2.0	1.0–2.0	1252	$2,396	$1.91	3d	2	0.60mi
102 17th St Buffalo, NY	2.0	1.0	1086	$1,290	$1.19	25d	1	0.61mi
163 W Delavan Ave Buffalo, NY	3.0	1.0	1000	$1,500	$1.50	25d	1	0.61mi
40 Putnam St Buffalo, NY	4.0	1.0	1600	$2,100	$1.31	25d	1	0.63mi
367 Connecticut St Unit 2 Buffalo, NY	2.0	2.0	1150	$3,000	$2.61	11d	1	0.63mi
478 Breckenridge St Buffalo, NY	3.0	1.0	1100	$1,575	$1.43	45d	1	0.63mi
232 Dewitt St Buffalo, NY	3.0	1.0	1200	$1,300	$1.08	25d	1	0.71mi
185 Potomac Ave Buffalo, NY	2.0	1.0	1200	$1,300	$1.08	25d	1	0.76mi
124 Normal Ave Unit 2 Buffalo, NY	3.0	1.0	1727	$2,000	$1.16	25d	1	0.77mi
217 Norwood Ave Apt 1 Buffalo, NY	2.0	1.0	1500	$2,700	$1.80	45d	1	0.78mi
1485 Niagara St Buffalo, NY	1.0–2.0	1.0	925	$2,174	$2.35	3d	1	0.83mi
305 W Utica St Unit B302 Buffalo, NY	2.0	2.0	1180	$2,060	$1.75	15d	1	0.87mi
118 Ashland Ave Buffalo, NY	3.0	1.0	1326	$1,850	$1.40	15d	1	0.88mi
608 Niagara St Buffalo, NY	2.0	1.0	1200	$1,195	$1.00	15d	1	0.91mi
31 Norwood Ave Unit 2 Buffalo, NY	3.0	1.0	1000	$1,950	$1.95	13d	1	0.92mi
569 Elmwood Ave Buffalo, NY	2.0	1.0	1500	$1,750	$1.17	13d	1	0.93mi
451 Elmwood Ave Buffalo, NY	2.0	1.0	1633	$3,305	$2.02	45d	1	0.95mi
305 Bird Ave Unit 3 Buffalo, NY	3.0	1.5	1128	$2,300	$2.04	45d	1	0.96mi
309 Bird Ave Unit 1 Buffalo, NY	3.0	1.0	1100	$2,200	$2.00	45d	1	0.96mi
550 Busti Ave Unit 2 Buffalo, NY	3.0	1.0	1638	$1,500	$0.92	45d	1	0.96mi
344 Elmwood Ave Unit 3rd floor Buffalo, NY	2.0	1.0	1000	$1,400	$1.40	25d	1	1.00mi
340 Bird Ave #202 Buffalo, NY	2.0	2.5	1505	$2,950	$1.96	11d	1	1.01mi
374 Baynes St Buffalo, NY	3.0	1.0	1126	$1,550	$1.38	45d	1	1.02mi
279 North St Buffalo, NY	1.0–2.0	1.0–2.0	820	$2,050	$2.50	45d	1	1.02mi
664 Auburn Ave Unit 2 Buffalo, NY	2.0	1.0	900	$2,200	$2.44	45d	1	1.05mi
233 Pennsylvania St Unit 3 Buffalo, NY	2.0	1.0	1200	$1,350	$1.12	11d	1	1.05mi
685 Auburn Ave Buffalo, NY	2.0	1.0	1200	$1,600	$1.33	45d	1	1.07mi
685 Auburn Ave Unit 2 Buffalo, NY	3.0	1.0	1200	$1,750	$1.46	15d	1	1.07mi
100 Forest Ave Buffalo, NY	2.0–4.0	2.0–4.0	1304	$1,600	$1.23	3d	14	1.08mi

Listing history 7 events

1. 2026-06-10
   days on market $109,900 Active 9 DOM
2. 2026-06-09
   days on market $109,900 Active 8 DOM
3. 2026-06-08
   pricedays on market $109,900 Active 7 DOM
4. 2026-06-07
   days on market $119,900 Active 6 DOM
5. 2026-06-03
   days on market $119,900 Active 2 DOM
6. 2026-06-02
   remarks 298-char remark
7. 2026-06-02
   listed $119,900 Active 1 DOM

ⓘ 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: $578 · $48/mo
• Projected year-2 tax: $1,218 · $101/mo
• Expected delta: +$640/yr (+$53/mo · 110.7%)

ⓘ 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 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 4/10 Moderate 4 unhealthy d/yr today · 9 by 30 yrs out

Taxation est. · year 1

• Rental income: $20,301
• − Mortgage interest: −$6,156
• − Property taxes: −$578
• − Insurance: −$550
• − Repairs & maintenance: −$1,624
• − Management: −$1,624
• − Depreciation: −$3,197
• Taxable income: $6,572
• Est. tax owed @ 24.0%: −$1,577
• After-tax cash flow: $6,417/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): 24,107
• Household income: $53,870
• Rent vs Own: 60.5% rent · 39.5% own
• Severe rent burden: 1501.0

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: Highly diverse neighborhood (Simpson 0.70)
• Race & ethnicity: White 46% Hispanic / Latino 20% Black 18% Asian 12% Two or more races 10%
• Hispanic origin (detail): Mexican 1% Puerto Rican 16% Dominican 1%
• Common ancestry: Romanian 6% Slovak 3% Lithuanian 3%
• Foreign-born: 16% · Philippines, Canada, India
• Languages at home: 68% English-only · Spanish 12% Other Asian/Pacific 7% Arabic 3%

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: ▲ 7.51%
• Current HPI: 448.4879
• Rent YoY: ▼ -0.49%
• 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

+166.4% since first listed

2 events — show timeline

• 2026-06-01 Listed $119,900 WNYREIS
• 1993-09-02 Sold (Public Records) $45,000 Public Records

Property tax history

+13.0%/yr

Latest (2025): $578 · -10.3% YoY. Source: county tax records.