95 10th St · Buffalo, NY 14201

$119,900

4 bd · 2.0 ba · 1,866 sqft · MultiFamily public records · 29 Days on market

Built 1900 2,074 sqft lot

---

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 +30.0/30.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• ARV discount +7.5/15.0
• Livability +3.9/5.0
• Rent growth +3.6/5.0
• Schools +3.3/10.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Multi-family units

County records classify this as Multi-Family (2-4 Unit). Listing-text estimate: 2 units. confirmed

Listing remarks

95 10th Street is a centrally located 2-unit home on a double lot with plenty of off-street parking and a fully fenced in yard. the second-floor unit can be occupied as-is and has in unit laundry, while the first-floor unit is demoed/gutted. Tear off roof in 2015. Separate utilities. 1.3 miles to Ralf Wilson Park/Waterfront, 0.8 miles to Downtown Buffalo, 0.9 miles to Allentown, 1.2 miles to the Medical Campus, 1 mile to D'Youville University, and 2.1 miles to the Peace Bridge {Canada). The sale of this property also includes adjacent lot 91 10th Street Buffalo NY 14201, Tax ID : 140200-110-280-0006-031-000 A Hold Harmless form will need to be signed to view the property.

Key facts

• Separate utilities
• Centrally located
• Double lot

Tags

• CENTRALLY LOCATED
• DOUBLE LOT
• OFF-STREET PARKING
• FULLY FENCED IN YARD
• IN UNIT LAUNDRY
• SEPARATE UTILITIES

Property features AI

Finance

• Financial info: Tenants are responsible for all utilities; Operating expenses include water and sewer (multi-unit)

Exterior

• Parking: Concrete parking with two or more spaces
• Utilities: Public water connected; Sewer connected
• Home design: Two-story building; Resale property; Residential 2-unit zoning
• Construction: Wood siding construction; Asphalt roof
• Exterior features: Rectangular residential lot; City street frontage

Interior

• Bedrooms: Two-unit property (unit-level bedroom counts not provided)
• Flooring: Hardwood; Laminate; Varies
• Bathrooms: 2 full bathrooms (total)
• Heating & cooling: Gas forced-air heating
• Interior features: Hardwood and laminate flooring; flooring varies by area; Crawl space basement
• Laundry & utility: Gas water heater

What this means for you Summary

Snapshot

• This is a 2 × 2-bed/1.0-bath units multifamily listed at $120k.

Deal economics

• At list price, monthly cash flow is $2k ($19k/yr) — positive. Per door: $782/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $120k).
• Recommended offer: $118k (1.5% below list) — sets the bar for market timing.
• Cap rate 21.9% 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 rising fast (+4.3%/yr); 56 active listings in the ZIP; 11 comparable units currently listed for rent nearby; rentals at typical pace (median 20d on market — plan ~3-4 weeks tenant-placement turnaround); lower-income renter base — watch delinquency; 1,244 units permitted in Erie County in 2024 (563 in 5+ unit buildings).
• At $2,887/mo this rent would consume 86% of the median local household income ($41k/yr) (locally 1213% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $829 of loan paydown is wiped out by about $4k of value loss. Plan a longer hold.
• At projected returns (-3.0% appreciation + 4.3% rent growth), your $34k cash investment doubles in ~3 years — after that, you're playing with house money.

Negotiation context

• It's been on market 29 days — a 2% lower offer ($118k) is reasonable based on typical stale-listing flexibility.
• Current owner paid $23k; list at $120k implies a 421% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1900 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: major flood risk — expect insurance premiums to compound above CPI over the hold.

Recommended offer $118,101 (1.5% below list)

Questions for the listing agent

1. Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
2. What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
3. Built in 1900 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
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 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: 2.41% ✓
• Cap rate: 21.95%
• Cash-on-cash: 55.91%
• DSCR: 3.49
• GRM: 3.5

CMA / ARV

• ARV (on-the-fly): $283,632
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
9 West Ave	0.17mi	4/2.0	1,980 (+6%)	6mo	$390,000	$197	77
125 Whitney Pl	0.10mi	4/3.0	1,976 (+6%)	6mo	$310,000	$157	76
116 West Ave	0.04mi	3/2.0 (-1)	1,692 (-9%)	4mo	$131,000	$77	74
192 York St	0.73mi	3/2.5 (-1)	1,884 (+1%)	1mo	$285,000	$151	57
402 Busti Ave	0.42mi	4/2.0	2,028 (+9%)	14mo	$80,000	$39	54
147 Mariner St	0.44mi	4/3.0	2,098 (+12%)	4mo	$365,000	$174	52
372 Prospect Ave	0.32mi	4/3.0	1,660 (-11%)	17mo	$408,000	$246	49
403 Busti Ave	0.39mi	4/2.0	2,132 (+14%)	12mo	$99,000	$46	48
533 Busti Ave	0.58mi	5/2.0 (+1)	1,727 (-7%)	12mo	$162,007	$94	45
36 Mariner St	0.27mi	5/2.0 (+1)	2,112 (+13%)	20mo	$250,000	$118	44
291 West Ave	0.38mi	5/2.0 (+1)	2,140 (+15%)	12mo	$325,500	$152	43
145 14th St	0.68mi	3/2.0 (-1)	1,710 (-8%)	9mo	$281,500	$165	42

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

Projected returns pro-forma

-3.0% appreciation · 4.28% rent growth · sell at horizon

5-year hold

• IRR: 55.6%
• Equity multiple: 3.50×
• Total profit: $83,934
• Equity at exit: $17,877

10-year hold

• IRR: 61.1%
• Equity multiple: 7.47×
• Total profit: $217,126
• Equity at exit: $10,367

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 14201

• Home prices YoY: -19.1%
• Rents YoY: 4.3%
• Active inventory: 56
• Price-to-rent: 6.9×

Monthly cashflow live

• Estimated rent: $2,887 high
• Mortgage (P&I): −$629
• Tax from tax record: −$38 /mo · $454/yr
• Insurance: −$50
• HOA: −$0
• Vacancy / Maint / Mgmt: −$606
• Net cashflow: $1,564

Break-even live

Break-even rent $907

Max offer price $119,900

Occupancy floor 41%

2-unit breakdown (identical units grouped — click to expand)

Units	Beds	Baths	Est. rent
▸ 2× units	2	1	$2,886
Total (2 units)			$2,887

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 11 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
124 Normal Ave Unit 2 Buffalo, NY	3.0	1.0	1727	$2,000	$1.16	23d	1	0.57mi
550 Busti Ave Unit 2 Buffalo, NY	3.0	1.0	1638	$1,500	$0.92	44d	1	0.59mi
184 14th St Buffalo, NY	4.0	2.0	1950	$4,400	$2.26	23d	1	0.70mi
501 West Ave Buffalo, NY	3.0	1.0	2552	$1,850	$0.72	20d	1	0.76mi
501 West Ave Buffalo, NY	3.0	1.0	2552	$1,700	$0.67	14d	1	0.76mi
118 Ashland Ave Buffalo, NY	3.0	1.0	1326	$1,850	$1.40	14d	1	0.86mi
161 16th St Buffalo, NY	3.0	1.5	1500	$2,000	$1.33	23d	1	0.87mi
330 Bryant St Buffalo, NY	3.0	2.0	2224	$2,200	$0.99	20d	1	0.90mi
237 Main St Buffalo, NY	1.0–3.0	1.5–2.5	1608	$4,035	$2.51	1d	9	1.11mi
405 W Ferry St Unit Lower Buffalo, NY	3.0	1.0	2480	$1,500	$0.60	44d	1	1.34mi
740 Elmwood Ave Buffalo, NY	3.0	1.0	2000	$1,995	$1.00	14d	1	1.50mi

Listing history 17 events

1. 2026-06-18
   days on market $119,900 Active 29 DOM
2. 2026-06-17
   days on market $119,900 Active 28 DOM
3. 2026-06-16
   days on market $119,900 Active 27 DOM
4. 2026-06-15
   days on market $119,900 Active 26 DOM
5. 2026-06-13
   days on market $119,900 Active 24 DOM
6. 2026-06-13
   days on market $119,900 Active 23 DOM
7. 2026-06-10
   days on market $119,900 Active 21 DOM
8. 2026-06-09
   days on market $119,900 Active 20 DOM
9. 2026-06-08
   days on market $119,900 Active 19 DOM
10. 2026-06-07
    days on market $119,900 Active 18 DOM
11. 2026-06-03
    days on market $119,900 Active 14 DOM
12. 2026-06-02
    days on market $119,900 Active 13 DOM
13. 2026-06-01
    days on market $119,900 Active 12 DOM
14. 2026-05-31
    days on market $119,900 Active 11 DOM
15. 2026-05-17
    listed $119,900 Active
16. 2014-10-31
    soldstatus $23,000
17. 2007-10-03
    soldstatus $15,900

ⓘ 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: $454 · $38/mo
• Projected year-2 tax: $1,240 · $103/mo
• Expected delta: +$786/yr (+$66/mo · 173.2%)

ⓘ 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 ≥91°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: $34,644
• − Mortgage interest: −$6,716
• − Property taxes: −$454
• − Insurance: −$600
• − Repairs & maintenance: −$2,772
• − Management: −$2,772
• − Depreciation: −$3,488
• Taxable income: $17,843
• Est. tax owed @ 24.0%: −$4,282
• After-tax cash flow: $14,488/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): 12,369
• Household income: $40,512
• Rent vs Own: 76.4% rent · 23.6% own
• Severe rent burden: 1213.0

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 0.66)
• Race & ethnicity: White 42% Hispanic / Latino 36% Black 16% Two or more races 12% Asian 2% Native American 1%
• Hispanic origin (detail): Mexican 4% Puerto Rican 30% Dominican 1%
• Common ancestry: Romanian 7% Subsaharan African 2% Slovak 1%
• Foreign-born: 8% · Canada, China
• Languages at home: 69% English-only · Spanish 24% Arabic 2% 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: ▼ -68.73%
• Current HPI: 290.2643
• Rent YoY: ▲ 4.28%
• 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

+654.1% since first listed

3 events — show timeline

• 2026-05-17 Listed $119,900 WNYREIS
• 2014-10-31 Sold (Public Records) $23,000 Public Records
• 2007-10-03 Sold (Public Records) $15,900 Public Records

Property tax history

+9.8%/yr

Latest (2025): $454 · +0.0% YoY. Source: county tax records.