115 Hayden St · Buffalo, NY 14210

$199,900

6 bd · 2.0 ba · 2,210 sqft · Townhouse public records · 108 Days on market

Built 1920 3,300 sqft lot Est $214k · 7% 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 +22.8/30.0
• ARV discount +10.5/15.0
• Appreciation +10.0/10.0
• DSCR +7.3/10.0
• Rent growth +5.0/5.0
• 1% rule +4.7/10.0
• Livability +3.9/5.0
• Schools +3.3/10.0
• Condition / age +2.5/5.0

Listing remarks MLS

REDUCED, REDUCED, REDUCED Multiple updates found here including roof with tear off, vinyl windows, six panel doors, glass block windows, furnace, etc. Home also features air conditioning in larger unit. Excellent front porch. fAMILY OWNED AND OCCUPIED FOR MANY MANY YEARS.

Key facts

• Hot water tanks
• Porch and balcony
• Garage

Tags

• INVESTMENT OPPORTUNITY
• FULLY REMODELED KITCHEN
• FULL FENCED BACK YARD
• PORCH AND BALCONY
• ELECTRICAL SERVICE UPGRADED
• HOT WATER TANKS

Property features AI

Finance

• Financial info: Two-unit building with separate gas and electric meters for each unit; Operating expenses include maintenance, trash, and water; Owner pays garage and water; rent includes parking and water; Both units are rented month-to-month at $1,200 each

Exterior

• Parking: Concrete parking; Garage with one space
• Utilities: Electricity connected with circuit breakers; Public water connected; Sewer connected
• Home design: Two-story multifamily property; Existing construction
• Construction: Composite siding and stone exterior; Asphalt roof; Block foundation; Built previously (existing)
• Exterior features: Balcony; Fully fenced yard; Near public transit; Rectangular residential lot; City street frontage; Right-of-way access

Interior

• Kitchen: Gas water heater
• Bedrooms: Two 3-bedroom units
• Flooring: Carpet; Laminate; Luxury vinyl; Vinyl; Varied flooring
• Bathrooms: Two full bathrooms (one in each unit)
• Heating & cooling: Central air conditioning; Gas heating; Baseboard heating; Forced air; Space heater
• Interior features: Ceiling fans; Storage
• Laundry & utility: Washer hookup

What this means for you Summary

Snapshot

• This is a 6-bed/2.0-bath townhouse listed at $200k.

Deal economics

• At list price, monthly cash flow is $347 ($4k/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 $193k (3.5% below list).
• Recommended offer: $182k (9.0% 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: Rents rising fast (+12.7%/yr); 94 active listings in the ZIP; 1,244 units permitted in Erie County in 2024 (563 in 5+ unit buildings).
• This rent runs 43% 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 $21k of equity ($1k loan paydown + $20k appreciation (10.0% local appreciation)).
• At projected returns (10.0% appreciation + 8.0% rent growth), your $56k cash investment doubles in ~3 years — after that, you're playing with house money.
• By year 2, paydown + projected appreciation supports a ~$34k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 108 days — a 9% lower offer ($182k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 17y ago; this cycle's ask has dropped $25k (11%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $46k; list at $200k implies a 336% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1920 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: major flood risk — expect insurance premiums to compound above CPI over the hold.

Recommended offer $181,909 (9.0% below list)

Questions for the listing agent

1. It's been on market 108 days. Have you received any prior offers? Is the seller open to a 9% concession, seller financing, or rate buy-down credit?
2. Built in 1920 — 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 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: 0.97% ✗
• Cap rate: 8.37%
• Cash-on-cash: 7.44%
• DSCR: 1.33
• GRM: 8.6

CMA / ARV

• ARV (on-the-fly): $214,370
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
18 S Ryan St	0.28mi	6/2.0	2,244 (+2%)	3mo	$270,000	$120	82
58 Roanoke Pkwy	0.24mi	5/2.0 (-1)	2,344 (+6%)	6mo	$225,000	$96	69
42 Meriden St	0.67mi	6/2.0	2,220 (+0%)	5mo	$250,000	$113	64
11 Indian Church Rd	0.56mi	5/2.0 (-1)	2,156 (-2%)	2mo	$182,000	$84	63
42 Kamper Ave	0.22mi	6/2.0	1,898 (-14%)	4mo	$136,000	$72	62
26 Zittel St	0.32mi	6/2.0	2,456 (+11%)	5mo	$250,000	$102	62
53 Duerstein St	0.66mi	6/2.0	2,112 (-4%)	0mo	$270,000	$128	61
128 Armin Pl	0.27mi	6/2.0	2,490 (+13%)	8mo	$242,500	$97	59
81 Duerstein St	0.65mi	6/2.0	2,400 (+9%)	2mo	$140,000	$58	54
15 Teresa Pl	0.57mi	6/2.0	2,376 (+8%)	10mo	$275,000	$116	52
88 Parkview Ave	0.47mi	6/2.0	2,464 (+12%)	9mo	$199,088	$81	51
425 Cumberland Ave	0.67mi	6/2.0	2,355 (+7%)	16mo	$135,000	$57	44

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

Projected returns pro-forma

10.0% appreciation · 8.0% rent growth · sell at horizon

5-year hold

• IRR: 31.5%
• Equity multiple: 3.52×
• Total profit: $141,058
• Equity at exit: $180,086

10-year hold

• IRR: 28.7%
• Equity multiple: 8.56×
• Total profit: $423,089
• Equity at exit: $388,362

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 14210

• Home prices YoY: 13.8%
• Rents YoY: 12.7%
• Active inventory: 94
• Price-to-rent: 8.6×

Monthly cashflow live

• Estimated rent: $1,929 medium
• Mortgage (P&I): −$1,048
• Tax from tax record: −$46 /mo · $548/yr
• Insurance: −$83
• HOA: −$0
• Vacancy / Maint / Mgmt: −$405
• Net cashflow: $347

Break-even live

Break-even rent $1,490

Max offer price $199,900

Occupancy floor 77%

Sensitivity live

Price	-10% $460	-5% $403	+0% $347	+5% $290	+10% $234
Rent	-10% $194	-5% $271	+0% $347	+5% $423	+10% $499
Rate	-1.0pp $447	-0.5pp $398	base $347	+0.5pp $295	+1.0pp $242

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: —

Listing history 10 events

1. 2026-06-02
   status $199,900 Pending 108 DOM
2. 2026-06-01
   days on market $199,900 Active 108 DOM
3. 2026-05-31
   days on market $199,900 Active 107 DOM
4. 2026-05-27
   status Active
5. 2026-05-27
   price $199,900
6. 2025-11-21
   listed $224,900 Active
7. 2010-04-26
   soldstatus $45,900 272-char remark

   Show marketing remark (272 chars)

   REDUCED, REDUCED, REDUCED Multiple updates found here including roof with tear off, vinyl windows, six panel doors, glass block windows, furnace, etc. Home also features air conditioning in larger unit. Excellent front porch. fAMILY OWNED AND OCCUPIED FOR MANY MANY YEARS.

8. 2010-04-26
   soldstatus $45,900

   Show marketing remark (272 chars)

   REDUCED, REDUCED, REDUCED Multiple updates found here including roof with tear off, vinyl windows, six panel doors, glass block windows, furnace, etc. Home also features air conditioning in larger unit. Excellent front porch. fAMILY OWNED AND OCCUPIED FOR MANY MANY YEARS.

9. 2010-04-26
   soldstatus $45,900

   Show marketing remark (272 chars)

   REDUCED, REDUCED, REDUCED Multiple updates found here including roof with tear off, vinyl windows, six panel doors, glass block windows, furnace, etc. Home also features air conditioning in larger unit. Excellent front porch. fAMILY OWNED AND OCCUPIED FOR MANY MANY YEARS.

10. 2009-10-28
    listed $49,900 272-char remark

    Show marketing remark (272 chars)

    REDUCED, REDUCED, REDUCED Multiple updates found here including roof with tear off, vinyl windows, six panel doors, glass block windows, furnace, etc. Home also features air conditioning in larger unit. Excellent front porch. fAMILY OWNED AND OCCUPIED FOR MANY MANY YEARS.

ⓘ 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: $548 · $46/mo
• Projected year-2 tax: $1,963 · $164/mo
• Expected delta: +$1,415/yr (+$118/mo · 258.1%)

ⓘ 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) · 72% 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: $23,151
• − Mortgage interest: −$11,198
• − Property taxes: −$548
• − Insurance: −$1,000
• − Repairs & maintenance: −$1,852
• − Management: −$1,852
• − Depreciation: −$5,815
• Taxable income: $886
• Est. tax owed @ 24.0%: −$213
• After-tax cash flow: $3,949/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): 15,563
• Household income: $54,197
• Rent vs Own: 53.9% rent · 46.1% own
• Severe rent burden: 959.0

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 (79%)
• Race & ethnicity: White 79% Two or more races 8% Black 8% Hispanic / Latino 7% Asian 1%
• Hispanic origin (detail): Puerto Rican 6%
• Common ancestry: Romanian 21% Lithuanian 2% Serbian 1%
• Foreign-born: 2% · Canada, China
• Languages at home: 95% English-only · Spanish 2% Arabic 1% Other Indo-European 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: ▲ 52.34%
• Current HPI: 431.7951
• Rent YoY: ▲ 12.67%
• 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

+300.6% since first listed

7 events — show timeline

• 2026-05-27 Relisted — WNYREIS
• 2026-05-27 Price Changed $199,900 WNYREIS
• 2025-11-21 Listed $224,900 WNYREIS
• 2010-04-26 Sold (Public Records) $45,900 Public Records
• 2010-04-26 Sold (Public Records) $45,900 Public Records
• 2010-04-26 Sold (MLS) $45,900 WNYREIS
• 2009-10-28 Listed $49,900 WNYREIS

Property tax history

+7.2%/yr

Latest (2025): $548 · +55.3% YoY. Source: county tax records.