1046 E Ferry St Unit N · Buffalo, NY 14211

$119,900

3 bd · 1.0 ba · 1,126 sqft · SingleFamily public records · 137 Days on market

Built 1925 2,700 sqft lot $106/sqft · at area comps Est $125k · at est. ↓ 14% since listing

---

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 +23.7/30.0
• ARV discount +9.3/15.0
• DSCR +7.6/10.0
• 1% rule +6.2/10.0
• Appreciation +6.0/10.0
• Livability +3.9/5.0
• Schools +3.3/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0

Listing remarks MLS

Welcome to 1046 E Ferry St – a spacious corner lot single-family home in Buffalo’s east side! The lower level features 2 bedrooms, a generous living room, formal dining area, kitchen, and a full bathroom. The upper level offers 2 additional bedrooms with potential space to add another bathroom—perfect for extended family or customization. The home includes a full basement, providing ample storage or future living space, and a detached garage for added convenience. Located near major roads, schools, and amenities—this unique layout offers flexibility, space, and great potential! Offer will be reviewed as they become available!!!

Key facts

• Full basement
• Corner lot
• Detached garage

Tags

• CORNER LOT
• FULL BASEMENT
• DETACHED GARAGE

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $120k.

Deal economics

• At list price, monthly cash flow is $229 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $120k).
• Recommended offer: $106k (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.
• Market conditions: 173 active listings in the ZIP; 16 comparable units currently listed for rent nearby; rentals lingering (median 45d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 62% of comp listings sitting > 30 days — soft ceiling on asking rent; lower-income renter base — watch delinquency; 1,244 units permitted in Erie County in 2024 (563 in 5+ unit buildings).
• This rent runs 44% of the median local income ($36k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Forward outlook

• In year one you build about $3k of equity ($829 loan paydown + $2k appreciation (2.0% local appreciation)).
• At projected returns (2.0% appreciation + 3.0% rent growth), your $34k cash investment doubles in ~5 years — after that, you're playing with house money.
• By year 10, paydown + projected appreciation supports a ~$32k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 137 days — a 12% lower offer ($106k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts; this cycle's ask has dropped $20k (14%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Watch-outs: built in 1925 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: major flood risk — expect insurance premiums to compound above CPI over the hold.

Recommended offer $105,512 (12.0% below list)

Questions for the listing agent

1. It's been on market 137 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 1925 — 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: 1.12% ✓
• Cap rate: 8.58%
• Cash-on-cash: 8.17%
• DSCR: 1.36
• GRM: 7.5

CMA / ARV

• ARV (median comp): $124,939
• List price: $119,900
• Delta: -4.03%
• Verdict: FAIR
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
102 Carl St	0.24mi	3/1.0	1,158 (+3%)	2mo	$124,900	$108	82
22 Schuele Ave	0.09mi	4/1.0 (+1)	1,066 (-5%)	9mo	$200,000	$188	74
67 Montana Ave	0.32mi	3/1.0	1,182 (+5%)	9mo	$68,000	$58	69
160 Zenner St	0.48mi	3/1.0	1,072 (-5%)	4mo	$90,000	$84	66
204 Carl St	0.41mi	2/2.0 (-1)	1,089 (-3%)	10mo	$90,000	$83	58
230 Dutton Ave	0.58mi	3/1.0	1,024 (-9%)	4mo	$66,500	$65	54
337 French St	0.31mi	3/2.0	1,264 (+12%)	11mo	$90,000	$71	52
68 Wecker St	0.68mi	4/2.0 (+1)	1,148 (+2%)	6mo	$180,000	$157	51
231 Stevens Ave	0.41mi	4/2.0 (+1)	1,268 (+13%)	1mo	$200,000	$158	50
36 Olympic Ave	0.74mi	4/1.0 (+1)	1,048 (-7%)	3mo	$112,000	$107	46
233 Stevens Ave	0.42mi	4/1.5 (+1)	1,280 (+14%)	10mo	$170,000	$133	42
206 May St	0.71mi	4/1.0 (+1)	1,255 (+12%)	8mo	$159,900	$127	36

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

Projected returns pro-forma

2.05% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 12.7%
• Equity multiple: 1.69×
• Total profit: $23,096
• Equity at exit: $47,611

10-year hold

• IRR: 15.4%
• Equity multiple: 3.07×
• Total profit: $69,532
• Equity at exit: $68,806

Cash invested: $33,572 (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 14211

• Home prices YoY: 0.6%
• Active inventory: 173
• Price-to-rent: 7.5×

Monthly cashflow live

• Estimated rent: $1,338 high
• Mortgage (P&I): −$629
• Tax est. 1.5%: −$150 /mo · $1,798/yr
• Insurance: −$50
• HOA: −$0
• Vacancy / Maint / Mgmt: −$281
• Net cashflow: $229

Break-even live

Break-even rent $1,049

Max offer price $119,900

Occupancy floor 78%

Sensitivity live

Price	-10% $311	-5% $270	+0% $229	+5% $187	+10% $146
Rent	-10% $123	-5% $176	+0% $229	+5% $281	+10% $334
Rate	-1.0pp $289	-0.5pp $259	base $229	+0.5pp $197	+1.0pp $166

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: $29,975
• Closing costs: $3,597
• Reserves months: —
• Total cash needed: —

Rent comps 16 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
408 Winslow Ave Unit 2 Buffalo, NY	3.0	1.0	1000	$1,050	$1.05	15d	1	0.65mi
85 Blake St Unit 1 Buffalo, NY	4.0	2.0	1022	$1,000	$0.98	45d	1	0.73mi
67 Moeller St Unit UPPER Buffalo, NY	3.0	1.0	960	$1,000	$1.04	4d	1	0.77mi
67 Moeller St Unit LOWER Buffalo, NY	3.0	1.0	960	$1,200	$1.25	25d	1	0.77mi
90 Sussex St Unit 2 Buffalo, NY	2.0	1.0	1000	$1,000	$1.00	45d	1	0.86mi
56 Hagen St #2 Buffalo, NY	2.0	1.0	850	$950	$1.12	45d	1	0.86mi
74 Dorris Ave Buffalo, NY	3.0	1.0	1200	$1,450	$1.21	45d	1	0.92mi
249 Newburgh Ave Unit 2 Buffalo, NY	2.0	1.0	930	$1,300	$1.40	45d	1	0.95mi
17 Proctor Ave Unit 1 Buffalo, NY	2.0	1.0	900	$1,100	$1.22	45d	1	1.00mi
61 Courtland Ave Unit Lower Buffalo, NY	2.0	1.0	1000	$1,300	$1.30	45d	1	1.03mi
184 Butler Ave Unit 1545840P Buffalo, NY	4.0	1.0	1496	$3,226	$2.16	15d	1	1.03mi
179 Donaldson Rd Buffalo, NY	3.0	1.0	1152	$1,350	$1.17	4d	1	1.09mi
160 Courtland Ave Buffalo, NY	2.0	1.0	810	$1,025	$1.27	15d	1	1.12mi
104 Butler Ave Buffalo, NY	3.0	1.0	1000	$1,400	$1.40	45d	1	1.18mi
1777 Broadway Unit 2 Buffalo, NY	3.0	1.0	1300	$1,200	$0.92	45d	1	1.46mi
24 Euclid Ave Buffalo, NY	3.0	2.0	1150	$1,700	$1.48	45d	1	1.47mi

Listing history 20 events

1. 2026-06-21
   days on market $119,900 Active 137 DOM
2. 2026-06-18
   days on market $119,900 Active 134 DOM
3. 2026-06-17
   days on market $119,900 Active 133 DOM
4. 2026-06-16
   days on market $119,900 Active 132 DOM
5. 2026-06-15
   days on market $119,900 Active 131 DOM
6. 2026-06-13
   days on market $119,900 Active 129 DOM
7. 2026-06-13
   days on market $119,900 Active 128 DOM
8. 2026-06-10
   days on market $119,900 Active 126 DOM
9. 2026-06-09
   days on market $119,900 Active 125 DOM
10. 2026-06-08
    days on market $119,900 Active 124 DOM
11. 2026-06-07
    days on market $119,900 Active 123 DOM
12. 2026-06-03
    days on market $119,900 Active 119 DOM
13. 2026-06-02
    days on market $119,900 Active 118 DOM
14. 2026-06-01
    days on market $119,900 Active 117 DOM
15. 2026-05-31
    days on market $119,900 Active 116 DOM
16. 2026-02-10
    price $119,900 659-char remark

    Show marketing remark (659 chars)

    Welcome to 1046 E Ferry St – a spacious corner lot single-family home in Buffalo’s east side! The lower level features 2 bedrooms, a generous living room, formal dining area, kitchen, and a full bathroom. The upper level offers 2 additional bedrooms with potential space to add another bathroom—perfect for extended family or customization. The home includes a full basement, providing ample storage or future living space, and a detached garage for added convenience. Located near major roads, schools, and amenities—this unique layout offers flexibility, space, and great potential! Offer will be reviewed as they become available!!!

17. 2026-02-04
    listed $139,900 Active 659-char remark

    Show marketing remark (659 chars)

    Welcome to 1046 E Ferry St – a spacious corner lot single-family home in Buffalo’s east side! The lower level features 2 bedrooms, a generous living room, formal dining area, kitchen, and a full bathroom. The upper level offers 2 additional bedrooms with potential space to add another bathroom—perfect for extended family or customization. The home includes a full basement, providing ample storage or future living space, and a detached garage for added convenience. Located near major roads, schools, and amenities—this unique layout offers flexibility, space, and great potential! Offer will be reviewed as they become available!!!

18. 2026-01-31
    historical
19. 2025-10-11
    price $119,900
20. 2025-07-15
    listed $139,900 Active

ⓘ 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 6/10 Major FEMA zone X (unshaded) · 74% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 3/10 Moderate 7 d/yr ≥93°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: $16,058
• − Mortgage interest: −$6,716
• − Property taxes: −$1,798
• − Insurance: −$600
• − Repairs & maintenance: −$1,285
• − Management: −$1,285
• − Depreciation: −$3,488
• Taxable income: $886
• Est. tax owed @ 24.0%: −$213
• After-tax cash flow: $2,530/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): 24,663
• Household income: $36,300
• Rent vs Own: 54.8% rent · 45.2% own
• Severe rent burden: 1804.0

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: Diverse neighborhood (Simpson 0.60)
• Race & ethnicity: Black 59% Asian 20% Hispanic / Latino 9% White 9% Two or more races 5%
• Hispanic origin (detail): Puerto Rican 6%
• Common ancestry: Romanian 4%
• Foreign-born: 17% · Canada, Philippines, Vietnam
• Languages at home: 74% English-only · Other Indo-European 14% Spanish 6% Other Asian/Pacific 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: ▲ 2.05%
• Current HPI: 357.6438
• 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

-14.3% since first listed

5 events — show timeline

• 2026-02-10 Price Changed $119,900 WNYREIS
• 2026-02-04 Listed $139,900 WNYREIS
• 2026-01-31 Listing Removed — WNYREIS
• 2025-10-11 Price Changed $119,900 WNYREIS
• 2025-07-15 Listed $139,900 WNYREIS

Property tax history

+3.9%/yr

Latest (2025): $140 · +0.0% YoY. Source: county tax records.