110 Armin Pl · Buffalo, NY 14210

$250,000

5 bd · 2.0 ba · 2,366 sqft · MultiFamily public records · 111 Days on market

Built 1915 5,075 sqft lot Est $234k · 7% over

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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 +14.3/30.0
• Appreciation +10.0/10.0
• Rent growth +5.0/5.0
• ARV discount +4.5/15.0
• DSCR +4.3/10.0
• Livability +3.9/5.0
• Schools +3.3/10.0
• 1% rule +2.6/10.0
• 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

Completely remodeled duplex in South Buffalo. Owners put 35k into the building in 2019. lower unit is a 3 bed 1 bath ($950.00). Upper unit is a 2 bedroom 1 bath($875.00). RENTS ARE BELOW WHAT THEY SHOULD BE. Tenants are long term and were inherited with the sale. Tenants are current and have never missed payments. Proof of paid rents are available. Tenants are responsible for all utilities except for water. Home has off street parking and a great sized yard. Both hot water tanks are less than 10 years old and 1 of the furnaces was replaced in 2019. CAN ALSO BE PACKED WITH 32 EDSON WHICH ALSO IS A MULI-UNIT. (R1367784)

Key facts

• Covered front porch
• Modern kitchens
• Enclosed porch

Tags

• MULTI-FAMILY PROPERTY
• COVERED FRONT PORCH
• ENCLOSED PORCH
• MODERN KITCHENS
• OFF-STREET PARKING
• LAUNDRY HOOKUPS

What this means for you Summary

Snapshot

• This is a 5-bed/2.0-bath multifamily listed at $250k.

Deal economics

• At list price, monthly cash flow is $-12 ($-141/yr) — negative.
• To cash-flow at today's rent, offer at most $248k (0.8% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $191k (23.8% below list).
• Recommended offer: $191k (23.8% below list) — sets the bar for 1% rule.

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 42% 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 $27k of equity ($2k loan paydown + $25k appreciation (10.0% local appreciation)).
• At projected returns (10.0% appreciation + 8.0% rent growth), your $70k cash investment doubles in ~3 years — after that, you're playing with house money.
• By year 2, paydown + projected appreciation supports a ~$43k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 111 days — a 9% lower offer ($228k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts since 17y ago; this cycle's ask has dropped $25k (9%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Watch-outs: flood insurance adds $56/mo; built in 1915 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: major flood risk — expect insurance premiums to compound above CPI over the hold.

Recommended offer $190,535 (23.8% below list)

Questions for the listing agent

1. What do current leases actually rent for vs. the listed asking? Can we see a recent rent roll and the last 12 months of T-12 income?
2. It's been on market 111 days. Have you received any prior offers? Is the seller open to a 24% concession, seller financing, or rate buy-down credit?
3. Built in 1915 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
4. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
5. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
6. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
7. 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?
8. 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.
9. 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.
10. 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: 0.76% ✗
• Cap rate: 6.50%
• Cash-on-cash: 0.75%
• DSCR: 1.03
• GRM: 10.9

CMA / ARV

• ARV (on-the-fly): $234,234
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
110 Armin Pl	0.00mi	5/2.0	2,366 (0%)	1mo	$235,000	$99	99
42 Mineral Spring Rd	0.20mi	6/2.0 (+1)	2,278 (-4%)	0mo	$300,000	$132	79
75 Juniata Pl	0.17mi	6/2.0 (+1)	2,544 (+8%)	2mo	$245,000	$96	73
26 Kamper Ave	0.46mi	6/2.0 (+1)	2,394 (+1%)	3mo	$179,000	$75	69
18 Sage Ave	0.22mi	6/2.0 (+1)	2,578 (+9%)	4mo	$164,500	$64	66
28 Paul Pl	0.35mi	4/2.0 (-1)	2,144 (-9%)	0mo	$230,000	$107	63
23 Matejko St	0.74mi	6/2.0 (+1)	2,365 (-0%)	4mo	$145,000	$61	57
35 Kimmel Ave	0.74mi	6/2.0 (+1)	2,218 (-6%)	2mo	$225,000	$101	48
81 Melrose St	0.54mi	4/2.0 (-1)	2,116 (-11%)	5mo	$264,000	$125	48
120 Weiss St	0.59mi	5/2.0	2,040 (-14%)	2mo	$80,000	$39	48
181 Willett St	0.60mi	6/2.0 (+1)	2,704 (+14%)	2mo	$301,000	$111	42
39 Kimmel Ave	0.74mi	6/2.0 (+1)	2,016 (-15%)	4mo	$152,000	$75	33

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: 25.6%
• Equity multiple: 3.08×
• Total profit: $145,377
• Equity at exit: $225,220

10-year hold

• IRR: 23.8%
• Equity multiple: 7.48×
• Total profit: $453,445
• Equity at exit: $485,695

Cash invested: $70,000 (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: 10.9×

Monthly cashflow live

• Estimated rent: $1,905 medium
• Mortgage (P&I): −$1,311
• Tax from tax record: −$46 /mo · $555/yr
• Insurance: −$104
• Flood insurance flood zone: −$56 /mo · $666/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$400
• Net cashflow: $-12

Break-even live

Break-even rent $1,920

Max offer price $247,925

Occupancy floor 96%

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: $62,500
• Closing costs: $7,500
• Reserves months: —
• Total cash needed: —

Listing history 17 events

1. 2026-04-02
   status Pending
2. 2026-03-31
   historical
3. 2026-01-20
   price $250,000
4. 2025-12-10
   listed $275,000 Active
5. 2021-12-10
   soldstatus $220,000
6. 2021-12-09
   soldstatus $217,500 Closed Sale or Rented 626-char remark

   Show marketing remark (626 chars)

   Completely remodeled duplex in South Buffalo. Owners put 35k into the building in 2019. lower unit is a 3 bed 1 bath ($950.00). Upper unit is a 2 bedroom 1 bath($875.00). RENTS ARE BELOW WHAT THEY SHOULD BE. Tenants are long term and were inherited with the sale. Tenants are current and have never missed payments. Proof of paid rents are available. Tenants are responsible for all utilities except for water. Home has off street parking and a great sized yard. Both hot water tanks are less than 10 years old and 1 of the furnaces was replaced in 2019. CAN ALSO BE PACKED WITH 32 EDSON WHICH ALSO IS A MULI-UNIT. (R1367784)

7. 2021-10-07
   status Under Contract- Do Not Show 626-char remark

   Show marketing remark (626 chars)

   Completely remodeled duplex in South Buffalo. Owners put 35k into the building in 2019. lower unit is a 3 bed 1 bath ($950.00). Upper unit is a 2 bedroom 1 bath($875.00). RENTS ARE BELOW WHAT THEY SHOULD BE. Tenants are long term and were inherited with the sale. Tenants are current and have never missed payments. Proof of paid rents are available. Tenants are responsible for all utilities except for water. Home has off street parking and a great sized yard. Both hot water tanks are less than 10 years old and 1 of the furnaces was replaced in 2019. CAN ALSO BE PACKED WITH 32 EDSON WHICH ALSO IS A MULI-UNIT. (R1367784)

8. 2021-09-27
   status Pending Sale 626-char remark

   Show marketing remark (626 chars)

   Completely remodeled duplex in South Buffalo. Owners put 35k into the building in 2019. lower unit is a 3 bed 1 bath ($950.00). Upper unit is a 2 bedroom 1 bath($875.00). RENTS ARE BELOW WHAT THEY SHOULD BE. Tenants are long term and were inherited with the sale. Tenants are current and have never missed payments. Proof of paid rents are available. Tenants are responsible for all utilities except for water. Home has off street parking and a great sized yard. Both hot water tanks are less than 10 years old and 1 of the furnaces was replaced in 2019. CAN ALSO BE PACKED WITH 32 EDSON WHICH ALSO IS A MULI-UNIT. (R1367784)

9. 2021-09-22
   listed $210,000 Active 626-char remark

   Show marketing remark (626 chars)

   Completely remodeled duplex in South Buffalo. Owners put 35k into the building in 2019. lower unit is a 3 bed 1 bath ($950.00). Upper unit is a 2 bedroom 1 bath($875.00). RENTS ARE BELOW WHAT THEY SHOULD BE. Tenants are long term and were inherited with the sale. Tenants are current and have never missed payments. Proof of paid rents are available. Tenants are responsible for all utilities except for water. Home has off street parking and a great sized yard. Both hot water tanks are less than 10 years old and 1 of the furnaces was replaced in 2019. CAN ALSO BE PACKED WITH 32 EDSON WHICH ALSO IS A MULI-UNIT. (R1367784)

10. 2019-06-28
    soldstatus $108,500 Closed Sale or Rented 370-char remark

    Show marketing remark (370 chars)

    AFFORDABLE 2-FAMILY UNIT in desirable neighborhood. Welcoming large front porch, 2 car garage, full basement, & separate utilities. Lower: 3 bedrooms/1 bath, formal dining room, living room, & sun room. Upper unit: 2 bedrooms, dining room, living room, and balcony. Fenced back yard. Property sold in as-is condition. Open house: Saturday 3/9 11 am - 12:30 pm.

11. 2019-04-09
    status Pending Sale 370-char remark

    Show marketing remark (370 chars)

    AFFORDABLE 2-FAMILY UNIT in desirable neighborhood. Welcoming large front porch, 2 car garage, full basement, & separate utilities. Lower: 3 bedrooms/1 bath, formal dining room, living room, & sun room. Upper unit: 2 bedrooms, dining room, living room, and balcony. Fenced back yard. Property sold in as-is condition. Open house: Saturday 3/9 11 am - 12:30 pm.

12. 2019-03-24
    status Under Contract- Do Not Show 370-char remark

    Show marketing remark (370 chars)

    AFFORDABLE 2-FAMILY UNIT in desirable neighborhood. Welcoming large front porch, 2 car garage, full basement, & separate utilities. Lower: 3 bedrooms/1 bath, formal dining room, living room, & sun room. Upper unit: 2 bedrooms, dining room, living room, and balcony. Fenced back yard. Property sold in as-is condition. Open house: Saturday 3/9 11 am - 12:30 pm.

13. 2019-03-06
    price $120,175 370-char remark

    Show marketing remark (370 chars)

    AFFORDABLE 2-FAMILY UNIT in desirable neighborhood. Welcoming large front porch, 2 car garage, full basement, & separate utilities. Lower: 3 bedrooms/1 bath, formal dining room, living room, & sun room. Upper unit: 2 bedrooms, dining room, living room, and balcony. Fenced back yard. Property sold in as-is condition. Open house: Saturday 3/9 11 am - 12:30 pm.

14. 2019-02-04
    listed $126,500 Active 370-char remark

    Show marketing remark (370 chars)

    AFFORDABLE 2-FAMILY UNIT in desirable neighborhood. Welcoming large front porch, 2 car garage, full basement, & separate utilities. Lower: 3 bedrooms/1 bath, formal dining room, living room, & sun room. Upper unit: 2 bedrooms, dining room, living room, and balcony. Fenced back yard. Property sold in as-is condition. Open house: Saturday 3/9 11 am - 12:30 pm.

15. 2009-10-30
    soldstatus $65,000
16. 2009-10-30
    soldstatus $65,000
17. 2009-07-03
    listed $69,900

ⓘ 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: $555 · $46/mo
• Projected year-2 tax: $2,390 · $199/mo
• Expected delta: +$1,835/yr (+$153/mo · 330.7%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Climate risk First Street

• 🌊 Flood 7/10 Severe FEMA zone X (unshaded) · 77% chance over 30 yrs
• 🔥 Wildfire 2/10 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: $22,864
• − Mortgage interest: −$14,004
• − Property taxes: −$555
• − Insurance: −$1,916
• − Repairs & maintenance: −$1,829
• − Management: −$1,829
• − Depreciation: −$7,273
• Taxable loss: −$4,542
• Est. tax savings @ 24.0%: +$1,090
• After-tax cash flow: $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

+257.7% since first listed

17 events — show timeline

• 2026-04-02 Pending — WNYREIS
• 2026-03-31 Listing Removed — WNYREIS
• 2026-01-20 Price Changed $250,000 WNYREIS
• 2025-12-10 Listed $275,000 WNYREIS
• 2021-12-10 Sold (Public Records) $220,000 Public Records
• 2021-12-09 Sold (MLS) $217,500 UNYREIS
• 2021-10-07 Pending — UNYREIS
• 2021-09-27 Pending — UNYREIS
• 2021-09-22 Listed $210,000 UNYREIS
• 2019-06-28 Sold (MLS) $108,500 WNYREIS
• 2019-04-09 Pending — WNYREIS
• 2019-03-24 Pending — WNYREIS
• 2019-03-06 Price Changed $120,175 WNYREIS
• 2019-02-04 Listed $126,500 WNYREIS
• 2009-10-30 Sold (Public Records) $65,000 Public Records
• 2009-10-30 Sold (MLS) $65,000 WNYREIS
• 2009-07-03 Listed $69,900 WNYREIS

Property tax history

+4.4%/yr

Latest (2025): $555 · +0.0% YoY. Source: county tax records.