667 Fulton St · Buffalo, NY 14210

$144,000

2 bd · 1.0 ba · 1,634 sqft · SingleFamily public records · 8 Days on market

Built 1880 3,250 sqft lot Est $150k · at est.

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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 +28.7/30.0
• DSCR +10.0/10.0
• Appreciation +10.0/10.0
• ARV discount +9.4/15.0
• 1% rule +6.6/10.0
• Rent growth +5.0/5.0
• Livability +3.9/5.0
• Schools +3.3/10.0
• Condition / age +2.5/5.0

Listing remarks MLS

Large 5 bedroom home, close to Larkenville. Driveway to share with 665 Fulton. Exterior measured for accurate square footage. Great value for a large home .

Key facts

• Covered front porch
• Natural light
• Bonus room

Tags

• UPDATED METAL ROOF
• COVERED FRONT PORCH
• FENCED IN YARD
• NATURAL LIGHT
• BONUS ROOM
• WATERPROOF VINYL FLOORING

Property features AI

Exterior

• Parking: No garage; Shared driveway
• Utilities: Cable available; Electricity connected (circuit breakers); Public water connected; Sewer connected
• Home design: Two-story house; Existing (previously built) property
• Construction: Wood siding; Metal roof; Block foundation
• Exterior features: Blacktop driveway; Concrete driveway; Fully fenced yard; Covered porch

Interior

• Kitchen: Electric oven; Electric range; Eat-in kitchen layout
• Bedrooms: Two main-level bedrooms; Additional bedrooms located on the second level (bedroom 3 and bedroom 4); Main-level bedrooms include Bedroom 1 and Bedroom 2
• Flooring: Carpet; Linoleum; Vinyl; Varies
• Bathrooms: One full bathroom on the main level
• Heating & cooling: Gas heating; Hot water heating
• Interior features: Ceiling fan(s); Separate/formal dining room; Entrance foyer; Eat-in kitchen; Separate/formal living room; Bedroom on main level; Full basement
• Laundry & utility: Gas water heater

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $144k.

Deal economics

• At list price, monthly cash flow is $424 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $144k).
• Cap rate 10.3% vs local median 8.0% in Buffalo — meaningfully above typical; check what's discounted (condition, days-on-market, listing class) to confirm the premium yield is real.

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; 8 comparable units currently listed for rent nearby; rentals leasing fast (median 12d on market — plan ~1-2 weeks tenant-placement turnaround); 1,244 units permitted in Erie County in 2024 (563 in 5+ unit buildings).
• This rent runs 37% 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 $15k of equity ($996 loan paydown + $14k appreciation (10.0% local appreciation)).
• At projected returns (10.0% appreciation + 8.0% rent growth), your $40k cash investment doubles in ~2 years — after that, you're playing with house money.
• By year 3, paydown + projected appreciation supports a ~$39k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• Only 8 days on market — expect competitive offers; lowballing is unlikely to land.
• 4 sale attempts since 6y ago with the ask held roughly flat each time — persistent listings suggest the price (not the market) is what's stuck; bring a comps-based counter.
• Current owner paid $80k; list at $144k implies a 80% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: flood insurance adds $56/mo; built in 1880 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: major flood risk — expect insurance premiums to compound above CPI over the hold.

Recommended offer $144,000

Questions for the listing agent

1. Built in 1880 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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?
5. 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.
6. 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.
7. 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: 1.16% ✓
• Cap rate: 10.29%
• Cash-on-cash: 14.28%
• DSCR: 1.64
• GRM: 7.2

CMA / ARV

• ARV (on-the-fly): $150,328
• Comps found: 5

Show comp detail 5 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
823 Perry St	0.08mi	3/1.0 (+1)	1,520 (-7%)	9mo	$140,000	$92	72
54 Clifford St	0.24mi	2/1.0	1,604 (-2%)	22mo	$200,000	$125	68
530 Fulton St	0.26mi	3/1.5 (+1)	1,484 (-9%)	18mo	$115,000	$77	51
165 Smith St	0.21mi	3/1.0 (+1)	1,391 (-15%)	13mo	$90,000	$65	50
595 S Division St	0.72mi	3/2.0 (+1)	1,508 (-8%)	22mo	$235,000	$156	26

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: 35.8%
• Equity multiple: 3.83×
• Total profit: $114,252
• Equity at exit: $129,727

10-year hold

• IRR: 32.5%
• Equity multiple: 9.36×
• Total profit: $337,009
• Equity at exit: $279,760

Cash invested: $40,320 (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: 7.2×

Monthly cashflow live

• Estimated rent: $1,671 high
• Mortgage (P&I): −$755
• Tax from tax record: −$25 /mo · $304/yr
• Insurance: −$60
• Flood insurance flood zone: −$56 /mo · $666/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$351
• Net cashflow: $424

Break-even live

Break-even rent $1,134

Max offer price $144,000

Occupancy floor 70%

Sensitivity live

Price	-10% $506	-5% $465	+0% $424	+5% $384	+10% $170
Rent	-10% $292	-5% $358	+0% $424	+5% $490	+10% $556
Rate	-1.0pp $497	-0.5pp $461	base $424	+0.5pp $387	+1.0pp $349

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: $36,000
• Closing costs: $4,320
• Reserves months: —
• Total cash needed: —

Rent comps 8 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
140 Seymour St Buffalo, NY	1.0	1.0	1300	$1,500	$1.15	4d	1	0.55mi
140 Seymour St Unit First Floor Buffalo, NY	2.0	1.0	1300	$1,800	$1.38	4d	1	0.55mi
140 Seymour St Buffalo, NY	2.0	1.0	1300	$1,800	$1.38	24d	1	0.55mi
225 Louisiana St Buffalo, NY	1.0–3.0	1.0–2.0	1164	$2,194	$1.88	2d	7	0.94mi
700 Hopkins St Buffalo, NY	3.0	1.0	1100	$1,225	$1.11	15d	1	1.12mi
230 Scott St Buffalo, NY	1.0–2.0	1.0–2.0	1285	$2,325	$1.81	2d	4	1.13mi
149 Swan St #404 Buffalo, NY	2.0	2.0	1237	$2,050	$1.66	12d	1	1.42mi
149 Swan St #404 Buffalo, NY	2.0	2.0	1237	$2,100	$1.70	24d	1	1.42mi

Listing history 7 events

1. 2026-06-18
   days on market $144,000 Active 8 DOM
2. 2026-06-17
   days on market $144,000 Active 7 DOM
3. 2026-06-16
   days on market $144,000 Active 6 DOM
4. 2026-06-15
   days on market $144,000 Active 5 DOM
5. 2026-06-13
   days on market $144,000 Active 3 DOM
6. 2026-06-13
   remarks 699-char remark
7. 2026-06-13
   listed $144,000 Active 2 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: $304 · $25/mo
• Projected year-2 tax: $1,369 · $114/mo
• Expected delta: +$1,065/yr (+$89/mo · 350.5%)

ⓘ 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) · 75% 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: $20,056
• − Mortgage interest: −$8,066
• − Property taxes: −$304
• − Insurance: −$1,386
• − Repairs & maintenance: −$1,605
• − Management: −$1,605
• − Depreciation: −$4,189
• Taxable income: $2,902
• Est. tax owed @ 24.0%: −$696
• After-tax cash flow: $4,396/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

+80.2% since first listed

13 events — show timeline

• 2026-06-10 Listed $144,000 WNYREIS
• 2022-10-23 Listing Removed — WNYREIS
• 2022-10-04 Listed $134,900 WNYREIS
• 2022-01-13 Sold (Public Records) $80,000 Public Records
• 2022-01-11 Sold (MLS) $80,000 WNYREIS
• 2021-11-29 Pending — WNYREIS
• 2021-11-17 Price Changed $88,500 WNYREIS
• 2021-10-27 Price Changed $92,899 WNYREIS
• 2021-10-17 Listed $92,900 WNYREIS
• 2020-12-11 Sold (Public Records) $62,000 Public Records
• 2020-12-04 Sold (MLS) $62,000 WNYREIS
• 2020-09-24 Pending — WNYREIS
• 2020-09-04 Listed $79,900 WNYREIS

Property tax history

+15.2%/yr

Latest (2025): $304 · +29.1% YoY. Source: county tax records.